Briefly Business: Services sector output remains under pressure

India’s services sector activity witnessed a moderate improvement in November over the previous month.

Published: December 5, 2013 1:01 am

New Delhi: India’s services sector activity witnessed a moderate improvement in November over the previous month,even while indicating the fifth successive monthly contraction. The HSBC/Markit Purchasing Managers Index for the services industry inched up to 47.2 in November from 47.1 in October,the fifth sub-50.0 reading and indicated an output contraction across the Indian service economy. pti

‘Over-the-counter deals now via CCIL’

New Delhi: The Reserve Bank of India (RBI) has directed banks that all over-the-counter transactions in currency swaps and interest rate derivatives will have to be reported to the Clearing Corporation of India Ltd effective December 30. ENS

Microsoft raises $8 bn via sale of securities

New York: Microsoft has raised about $8 billion by selling securities and the proceeds would be utilised for funding acquisitions,among others. The fund raising exercise comes at a time when Microsoft is in the process of acquiring the devices and services businesses of Finnish handset maker Nokia in a deal worth $7.2 billion. pti

‘CAD likely to remain lower in Q3 and Q4’

Mumbai: Pick-up in exports and decline in gold imports are likely to keep the country’s Current Account Deficit lower during the rest of the fiscal as compared to the same period last year,India Ratings said. pti

Honda Cars to hike prices from January

New Delhi: Honda Cars India Ltd (HCIL) is looking to hike prices of its entire product range in the country from the first week of January as it aims to partially offset the effects of adverse exchange rate and inflation. pti

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