Weekly News updated 27-09-2010 to 03-10-2010 Compiled by : NavneetSuri Mba- 2(a)
Center for "First Wave" Management & Economics News Study India has called for an early conclusion of the India-Asean agreement on services and investment which would encourage movement of professionals and flow of investments between the two. In a meeting with Singaporean trade minister Lim Hng Kiang, commerce and industry minister Anand Sharma stressed on the need for concluding the agreement soon.
The Singaporean minister, too, underscored the need for having the agreement on services and investment between Indian and the Asean countries in place soon, an official release said. The India-Asean free trade agreement on agricultural and industrial goods has already been implemented since the beginning of the current year.
M&M forays into bike segment M&M has entered the competitive motorcycle market with the launch of two models in a bid to take on Hero Honda & Bajaj’s Auto in the world’s second largest two-wheeler market. The 110cc stallio, priced at Rs 44,699 is endorsed by Amir Khan while the Mahindra 390cc Mojo will be priced at Rs 1.75 lakh
Rupee posts best weekly rise in 9 months The rupee posted its best in nearly nine months on Friday boosted by robust and tracking broad losses in the versus major currencies overseas. The partially convertible rupee closed at 44.47/48 per dollar after hitting 44.46, its strongest since April 30 and 1.1 percent above Wednesday's close of 44.94/95.
The rupee gained 3.4 percent in the September quarter when foreigners moved more than $11 bn into Indian stocks, chasing potentially better returns in the fast-expanding economy. Robust foreign fund inflows drove Indian shares to 33-month highs on Friday while strong auto sales in September pushed key auto stocks higher helping the benchmark index post its fifth weekly gain.
Tata Motors hikes product prices by up to Rs 40,000 Tata Motors said it has raised the prices of its passenger and commercial vehicles by up to Rs 40,000 with immediate effect due to rising and implementation. "The price increase in passenger cars is on the Tata Indica and the Tata Indigo family, in the range of Rs 4,500 to Rs 14,000, depending upon the model," Tata Motors said in a statement.