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Steep rise in silver, goldMUMBAI: Prices of silver and gold rose steeply on the bullion market here Tuesday due to firm overseas advices ...

Steep rise in silver, gold

MUMBAI: Prices of silver and gold rose steeply on the bullion market here Tuesday due to firm overseas advices coupled with increased local demand. Ready silver .999 fineness opened firm and rallied further to close at Rs 7915, showing a steep rise of Rs 70 over the previous close of Rs 7845. Raw silver .916 fineness rallied by Rs 55 to end at Rs 7775 from yesterday8217;s close of Rs 7720 and tenderable silver shot up to Rs 7920 from Rs 7850.Standard gold jumped up by Rs 25 to finish at Rs 4375 from the last close of Rs 4350. 22-carat gold was nominally quoted firmer by Rs 20 at Rs 4045 from the previous close of Rs 4025, while ten-tola gold bar .999 purity rallied by Rs 200 to Rs 51,200 from Rs 51,000.

US-64 report in 3rd week of Feb

MUMBAI: The Deepak Parekh panel on the US-64 restructuring will submit its report in the third week of February, panel chairman said. quot;It is being finalised. We will submit the report in the third week of February,quot; Parekh said.He, however, refused to divulge the content of the report. quot;The mutual fund sector needs all the support to grow. Since it is a well regulated industry, people should put in their savings in MFs instead of directly subscribing to IPOs directly,quot; Parekh said.

Indian in IMF audit committee

NEW DELHI: The executive board of the International Monetary Fund has nominated K N Memani, country managing partner S R Batliboi amp; Co and chairman Ernst amp; Young to its three member external audit committee. This is the first time that an Indian has been nominated to this prestigious committee. Memani8217;s appointment to this global panel at this juncture is considered significant when the IMF and World Bank are concerned about the audit standards in this part of the world following the recent economic crisis in Asia. The other two members are from Argentina and UK.

Blue Dart posts Q3 net profit

MUMBAI: Blue Dart Express sales for the third quarter have increased by 15 per cent compared to same period lastyear. The company has earned a profit of Rs 201 lakh against a loss of Rs 243 lakh in the same period of the last year. The company8217;s six month profit earnings up to September 1998 was Rs 288 lakh and cumulatively for nine months stand at Rs 489 lakh.

New telecom tariff in 2 weeks

NEW DELHI: The new telecom tariffs are likely to be announced in two weeks8217; time, vice chairman of Telecom Regulatory Authority of India TRAI B K Zutshi said today.

quot;We hope to have them in place by april 1,quot; Zutshi told reporters at a function organised by Tata Energy Research Institute TERI. TRAI, which is the sole authority to notify tariffs, had earlier proposed a hike in local call rates and a reduction in STD and ISD tariffs to relate them to costs.