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Briefly Business: FDI by Indian cos rise to $72 bn in 5 yrs till 2009-10

FDI by Indian cos rise to $72 bn in 5 yrs till 2009-10

Written by Agencies | Published: May 16, 2012 1:02:03 am

FDI by Indian cos rise to $72 bn in 5 yrs till 2009-10

New Delhi: Foreign direct investment (FDI) by Indian companies rose by nine-fold to over $72.04 billion over five years till 2009-10 from 7.21 billion during 2000-01 to 2004-05.

EU issues warning to India on carbon tax

Brussels: The European Union on Tuesday gave China and India a month to comply with a new airline carbon emissions fee coming into effect across the bloc,or face penalties for flights in and out of Europe.

OVL to abandon second block off Vietnam coast

New Delhi: ONGC Videsh Ltd,the overseas arm of state-owned ONGC,has decided to abandon a second block off the Vietnam coast in the South China Sea due to logistic constraints.

Mauritius unwilling to review DTAC: Govt

New Delhi: The government on Tuesday said unwillingness on the part of the island nation is delaying the revision of the Indo-Mauritius double tax avoidance treaty.

Oriental Bank cuts lending rates by up to 1.5%

New Delhi: Oriental Bank of Commerce (OBC) on Tuesday slashed interest rate on home and car loans by up to 1.5 per cent.

DIPP secy gets additional charge of Commerce

New Delhi: Saurabh Chandra,secretary in the Department of Industrial Policy and Promotion on Tuesday took additional charge of the Department of Commerce,replacing Rahul Khullar,who has joined Trai as its new chairman.

FBI launches probe into JPMorgan loss

TAMPA: The FBI has opened a probe into trading losses at JPMorgan Chase,stepping up the pressure on the bank after the US SEC and the Federal Reserve said they were also looking into the wrong-way bets.

‘FII pullout,euro crisis responsible for Re fall’

New Delhi: Minister of State for Finance Namo Narain Meena on Tuesday said the main reasons for rupee depreciation are the supply-demand imbalance in the domestic foreign exchange market,mainly due to widening of CAD,slowdown in FII inflows and heightened risk aversion due to the euro area sovereign debt crisis. Replying to a query in the Rajya Sabha,Meena said current account deficit has increased to 4 per cent of GDP in 2011-12 (up to December 2011) compared to 3.3 per cent during the same period of 2010-11 due to widening of trade deficit due to higher imports of petroleum,oil and lubricants (POL) and gold and silver.

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