Tea exports drop

Calcutta, May 24: Tea exports during the first quarter of this year have declined marginally over the same period last year. A Tea Board official said the total export of tea between January and March was 44.05 million kg compared with 44.95 million kg in the first quarter of 2006. While exports from north India were higher at 21.11 million kg, that from south India were lower at 22.94 kg. Production during the January-March period was down by 11.29 million kg to 86.68 million kg. The official said an unfavourable weather in north India and the beginning of the slump season led to the decline.

Cairn move

New Delhi, May 24: Cairn India has said it did not violate any provision of its Rajasthan exploration licence. The company stands by its announcement of oil and gas discovery in two recent wells. “We have not violated any norm. The discovery notes were only an indication of us finding hydrocarbons,” a Cairn spokesperson said.

Oil hunt

Mumbai, May 24: Members of a consortium looking for oil in India can make payments both in foreign currency and the Indian rupee to the lead operator, the RBI said.

WTO talks

New Delhi, May 24: India has said it will work toward creating a balance of “give-and-take” among the developing and developed countries for the success of the Doha round of trade talks.

Port incentive

New Delhi, May 24: The government has made exports from ports that are not linked electrically eligible for benefits under the focus product scheme and focus market scheme.

AI Express

Mumbai, May 24: After the merger of Indian and Air-India, their subsidiaries — Alliance Air and Air-India Express — will also be merged.

NSE rank

New Delhi, May 24: The National Stock Exchange has emerged as the world’s third fastest-growing bourse in terms of increase in companies listed.