Briefly Business

FinMin wants ONGCs fuel subsidy outgo to increase

new delhi: The finance ministry wants Oil and Natural Gas Corps fuel subsidy outgo to almost double to Rs 47,640 crore this fiscal so that diesel,domestic LPG and kerosene can be sold at below market prices to consumers.

Coal Min to issue blocks for NTPCs power plants

new delhi: Under pressure from the power ministry to ensure fuel supply to NTPC,the coal ministry has decided to allocate coal blocks to NTPC8217;s 4 proposed power plants,including its 500 MW Unchahar Power Station at Raibareilly in Uttar Pradesh.

Govt clears Vodafones stake buy in JV with Essar

new delhi: Vodafone plea to buy 5.48 per cent stake in the joint venture from two Mauritius based entities has been approved. Since the transaction is between non-resident to non-resident,there is no foreign equity inflow, finance ministry said.

Consumer Price Index up 1.18 in August

new delhi: Expensive food

and clothing pushed up the Consumer Price Index by 1.18 per cent in August vis-a-vis the previous month,but experts said too much should not be read into the numbers as the data on retail prices is yet to stabilise.

Softbank invests 200 mn in InMobi

mumbai: InMobi and SOFTBANK completed a 200 million investment,early this week.The funding will take place in two tranches 00 million in September followed by an equivalent tranche in April,2012.

Dhanlaxmi hikes base rate by 25 bps to 11

mumbai: Dhanlaxmi Bank has hiked base rate,or the minimum lending rate,by 25 basis points to 11 per cent,while loans under the older benchmark prime lending rate will be dearer by 50 bps at 20.75 per cent.