Thursday, July 10, 2008

Indian Business News – Selected Extracts (July 10, 2008)

1. BSE’s benchmark index, Sensex shoots up by 615 points to its highest close in two weeks, 13,964 with heavyweight shares particularly realty and power scripts doing brisk business. In bullion market, gold declines to close at Rs.12,850/10gm and silver edges up to close at Rs.24,990/kg.
2. Indian Prime Minister gets support from G8 countries for the nuclear deal with US, to meet its energy needs of the future.
3. The sign of slowdown is already visible in the aviation sector. The air traffic has gone down in June by 7% as compared to the May, 2008.
4. Indian-origin executives head a dozen Fortune 500 firms abroad. Some of the names are: Citigroup CEO Vikram Pandit, Pepsico Chief Indra Nooyi and Arcelor-Mittal CEO Lakhsmi Mittal.
5. French energy major Total will invest Rs.100 Cr in India firm Vinergy International in setting up four bitumen manufacturing plants in the country in the next 3-4 years.

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