WEEKLY NEWS -ECONOMIC TIMES<br />Submitted by :<br />Sambhavjain<br />
HDFC hikes PLR by 50 basis points<br />Leading home providing HDFC raised its prime lending rate(PLR) by 50 basis points from existing 13.75% to 14.25% from sept 1, 2010.<br />The rates for the existing customer and new customer<br />
Barclays relieved of SEBI ban<br />Market regulator SEBI has lifted the ban on British bank Barclays for issuing off share derivative instrument.<br />It will help to lender to facilitate investment by unregistered entities into Indian stock markets<br />
Cipla to decide on medpro stake buy in oct..<br />Cipla decide to buy stake of up to 25% in a unit of South Africa based CiplaMedpro.<br />CiplaMedpro is partner of Indian firm and is third biggest drug maker in South Africa.<br />Indian firm exports arround 35% of it’s production.<br />15% export revenues are through CiplaMedpro.<br />
Rise In Yen’s Create Tough Situation For Toyota Motor<br />The world’s largest auto maker will consider moving its factories overseas to build models to sold in Japan.<br />Because did not rise sale of cars.<br />Friday , dollerrollied against the yen 83.58 to 84.39 yen<br />
Munjal’s Honda may part ways<br />Honda motor company of Japan is in talks with Hero Group to sell it’s 26% stake in Hero Honda motors.<br /><ul><li>Hero Honda makes half of the Motor Bikes sold in India.
Currently Hero’s stake is 52%. </li></li></ul><li>Food Inflation eases to 10.05%<br />Food price index rose to 10.05% as against 10.35% in previous week.<br />Fuel price index remained steady at 12.57%.<br />
Decision on reinstating Hyundai Workers deferred to Sep13<br /> A decision on reinstating 35 dismissed workers of Hyundai Motor India was deferred for the third time Friday to Sept 13 with Tamil Nadu Labour Minister T M Anbarason seeking more time to report the issue.<br />