Weekened news neelam

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Weekened news neelam

  1. 1. Weekend News Neelam Monga MBA-2c
  2. 2. ICICI Bank launches NRI remittance service  ICICI Bank has announced the launch of I-Express (the option of visiting any partner outlet for instant credit into the beneficiary account maintained with ICICI Bank in India), an instant cross-border money transfer option for non-resident Indians (NRIs).  The service would be available through the ICICI Bank's select partners in the Gulf countries
  3. 3. RPower awards Rs 10K cr order to GE for Samalkot project  Anil Ambani Group firm Reliance Power today said it has awarded a Rs 10,000 crore equipment order to GE Energy India for the expansion of its 2,400-MW gas-based power project at Samalkot, in Andhra Pradesh.  GE will supply six frame 9FA gas turbines, 3 D-11 steam turbines and generators for the power project under the contract.
  4. 4. TCS, Infosys plan to hire 50,000 & 40,000 respectively  With double-digit revenue growth returning to the $60 billion Indian IT-ITeS sector , top IT players, including TCS and Infosys, are stepping up their hiring plans for the next few quarters to meet the reviving demand in the US and European markets.
  5. 5. ONGC's first commercial power project to start next year  The state-owned Oil and Natural Gas Corporation's (ONGC) first ever 726 MW commercial power project would start generating electricity next year.  The ONGC's biggest power project is being commissioned in Palatana, about 60 km south of here, at a cost of Rs 9,000 crore.
  6. 6. FOOD INFLATION FALLS FOR THIRD WEEK TO 12.85%  Persistent high prices of food items could lead to ever-increasing prices.  It stood at 12.85% for week ended October 23, declining from 13.75% in previous week.  Index for food declined by 0.2%, reflecting an actual decline of prices.  RBI increased key rates 6 times this year to bring down inflationary expectations  Central bank expects overall inflation to ease by 5.5% by fiscal year end.
  7. 7. FOOD INFLATION FALLS FOR THIRD WEEK TO 12.85%  Persistent high prices of food items could lead to ever- increasing prices.  It stood at 12.85% for week ended October 23, declining from 13.75% in previous week.  Index for food declined by 0.2%, reflecting an actual decline of prices.  RBI increased key rates 6 times this year to bring down inflationary expectations  Central bank expects overall inflation to ease by 5.5% by fiscal year end.
  8. 8. FOREX RESERVES JUMP $2.6 bn TO TOUCH $298 bn  Country’s forex reserves rose $2.6 bn on Oct 29, on account of revaluation of gold reserves.  They are at $297.96 billion now.  Foreign currency assets comprising dollars, British pounds & euro, rose $1,399 mn during week.  Value of gold in reserves rose $1,152 mn during week.  Special drawing rights, or SDRs (reserve currency with International Monetary Fund) rose $4 mn.  Reserve capital with IMF rose $2 mn.
  9. 9.  Thanks

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