Briefly Business

The Prime Ministers economic advisory panel expects the economy to grow by around 6.1 per cent in the second quarter,the same as in the preceding three months,due to the impact of a weak monsoon on agriculture....

PMEAC pegs Q2 GDP growth at 6.1 pc

New Delhi: The Prime Ministers economic advisory panel expects the economy to grow by around 6.1 per cent in the second quarter,the same as in the preceding three months,due to the impact of a weak monsoon on agriculture. However,other economists peg the growth rate in the range of 6.2 per cent to 6.6 per cent against a healthy 7.7 per cent in the corresponding period last fiscal.

Free trade pledge likely at WTO meet

Geneva: More than a hundred ministers gather here on Monday for a WTO conference where they are likely to renew pledges to freer world trade while avoiding hard bargaining under the Doha round. While previous meetings have been venues to make detailed offers,the WTOs 153 member-states have decided that Doha is not officially on the agenda here in Geneva.

Mamp;A info will be kept confidential: Khurshid

New Delhi: The government has assured India Inc the Competition Commission will keep information on mergers and acquisitions confidential while clearing Mamp;A proposals. We have to ensure confidentiality on Mamp;A applications, Corporate Affairs Minister Salman Khurshid said when asked about the concerns expressed by industry over the notification of Sections 5 and 6 of Competition Act dealing with mergers and acquisitions.

Indo-US services trade to touch 150 bn: CII

New Delhi: The Indo-US services trade is likely to grow to 150 billion in the next six years,says a CII estimate. At present,the countrys total engagement with the US is over 60 billion,out of which about 40 billion are accounted for by merchandise trade. The fast growing services trade between India and the US,which has remained relatively stable despite the global economic crisis is expected to cross 150 billion by 2015, the chamber said.

Aditya Birla Retail considering IPO

Mumbai: Aditya Birla Retail,the countrys second-biggest supermarket operator,is considering an initial public offer IPO and will time it as soon as the company starts spinning profits. We will definitely be open to an IPO,but it will be closer to the time of profitabillity8230; around 2012 or maybe even before that when we sight profitability, Aditya Birla Retail Ltd ABRL CEO,Thomas Varghese,said. He said the company had still not determined the amount of equity it would dilute.

OilMin wants visa rules prospectively

New Delhi: With the new guidelines for employment of foreign nationals threatening to derail oil and gas operations,the Petroleum Ministry has asked the Home Ministry to apply the new visa rules prospectively. As obtaining of Employment Visa would take around 60 days,the sudden removal of expatriates in the middle of their present assignments without the relievers in place would lead to close down of crucial ongoing operations, Oil Secretary R S Pandey wrote to Home Secretary G K Pillai.