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Forex risesMUMBAI: India's foreign currency assets were marginally up by 10 million to 30,379 million during the week ended September 3...

Forex rises

MUMBAI: India8217;s foreign currency assets were marginally up by 10 million to 30,379 million during the week ended September 3, 1999, after a steep fall of 163 million in the preceding week. Gold reserves were up by 5 million to 2,659 million, resulting in the total foreign exchange reserves increasing by 15 million to 33,047 million, according to RBI8217;s weekly statistical supplement.

Ashok Leyland

CHENNAI: Truck-maker Ashok Leyland Ltd said its vehicle sales in August rose to 2,928 units from 2,356 in the same month a year ago. Production was higher at 3,070 units in August against 1,340 a year ago. The company had produced 3,122 vehicles in July and sold 2,271. In August, it produced 1,010 buses, 2,050 medium trucks and10 light trucks. Domestic sales accounted for 2,738 units and exports 190 units.

Aurobindo Pharma

HYDERABAD: Aurobindo Pharma has successfully concluded issue of 5,51,000 equity shares of Rs 10 each at a premium of Rs 480 per share to thedomestic and foreign institutional investors from UK, Hong Kong and Singapore. Through the private placement issue, it has raised Rs 27 crore to part finance its research and development activities.

HUDCO sanctions

NEW DELHI: HUDCO has sanctioned Rs 90 crore for retail housing loans till August, since it began financing the segment in April this year. The support to retail customers is in addition to its core activity of providing financial assistance to housing boards and state governments to develop housing infrastructure.

Citicorp Info

MUMBAI: Sri Lanka8217;s newest commercial bank Nations Trust Bank NTB has selected Citicorp Information Technology Industries Ltd as its IT partner. This initiative has been driven by NTB8217;s mission of quot;becoming the best managed commercial bank in Sri Lanka through satisfaction of all stakeholdersquot;. NTB will use Flexcube 8211; the universal banking solution from CITIL. The deal was won against stiff competition and marks CITIL8217;s entry into Sri Lankan bankingsegment. CITIL is already the IT partner of two leading asset management companies in Sri Lanka.

TSN tie-up

MUMBAI: United Teleshopping amp; Marketing Company Ltd, South-east Asia8217;s largest teleshopping company in India, has embarked on its international expansion. The owners of the brand TSN total shopping network tied up with Family Shopping Network, Sri Lanka, to launch the concept of teleshopping in Sri Lanka. quot;TSN is the fist DRTV company in India to commence operations in Sri Lanka and this marks the beginning of a new era in teleshopping,quot; says Rajan Kaicker, MD.

Arabian Adventures

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MUMBAI: Arabian Adventures will start daily air tours on board a Cessna 207 aircraft. These are operated in conjunction with Dubai8217;s Desert Air Tours. There are two choices: a 40 minute fly Dubai tour across the Dubai Creek and the surrounding city scape, or a hour-long desert explorer over the spectacular Hajar Mountain range and wide expanse of desert.

Glenmark Pharm

MUMBAI: GlenmarkPharmaceuticals as a major step towards Ramp;D, plans to set up state-of-the-art drug discovery centre in Mumbai. This centre would be fully integrated and equipped to carry out basic drug discovery research.