PNB revises rates on non-resident deposits New Delhi: The countrys second largest public sector lender,Punjab National Bank,has revised interest rates on Foreign Currency Non-Resident deposit schemes effective from January 1. The interest rate on US dollar deposits has been slashed to 1.98 per cent for a maturity of one to two years from 2.02 per cent,while for the maturity of two to three years,the rate has been increased to 2.39 per cent,against 2.01 per cent,PNB said in a statement. Petrobras to exit ONGC block New Delhi: Brazil's Petrobras had decided to quit Oil and Natural Gas Corps (ONGC) prolific gas discovery block in the Krishna Godavari basin,a vacancy that Royal Dutch/Shell and BP Plc are keen to fill-in. Petroleo Brasileiro SA or Petrobras,Brazil's state-controlled oil firm,wants to offload its 15 per cent stake in KG-DWN-98/2 to ONGC as it wants to concentrate on developing massive oil and gas finds back home,a top official said. PMO calls meeting on BSNL on January 6 New Delhi: The Prime Ministers Office has convened a meeting with the Telecom Ministry on January 6 to discuss the issues plaguing the state-run telco BSNL,including its declining revenues and market share. The meeting comes amid the ongoing controversy over its mega Rs 35,000-crore tender for adding 93 million GSM lines,and this issue may also come up for discussion. Maruti passes 1-lakh sales mark in Dec New Delhi: The countrys largest carmaker,Maruti Suzuki,has become the first auto company in India to cross the one-lakh retail sales mark in a month,clocking 1,00,874 units sales in December 2009. This has been a big achievement for us,considering the fact that customers usually stay away from buying cars in year-end," Maruti Suzuki Executive Officer (Marketing and Sales) Mayank Pareek said. FIIs infuse Rs 24,800 crore in Dec quarter New Delhi: The Indian stock markets witnessed a net inflow of Rs 24,800 crore from overseas investors during December quarter in the current financial year. During the three month period (October-December),foreign institutional investors (FIIs) made a net buy of shares worth Rs 24,807.1 crore,data complied from market regulator Securities and Exchange Board of India said. JSW Energy to list on bourses today Mumbai: Power producer JSW Energy,which raised Rs 2,700 crore through initial share sale last month,will list its shares on the bourses on Monday. JSW Energy,part of Sajjan Jindal-led JSW Group,would list over 164 crore shares on the bourses at an issue price of Rs 100 a piece,the lower end of the price band. FTA with ASEAN may hit FDI: Assocham New Delhi: Foreign direct investment may be hit,with India giving more market access to the south east Asian nations than it got in return from its free trade pact with the ASEAN bloc,an Assocham study has said. Bulk of Indian exports to the Association of Southeast Asian Nations (ASEAN) are,in any case,going duty-free,as the 10-nation bloc follows a free market policy.
