Inflation rises to 4.45%

New Delhi, Aug. 10: Expensive food items such as fruits, vegetables and some manufactured products pushed up the rate of inflation marginally to 4.45 per cent during the week ended July 28, within the RBI’s targeted limit, against 4.36 per cent in the previous week. The wholesale prices-based inflation was 4.72 per cent in the corresponding week of the previous year. Prices declined only in non-food articles such as sunflower and groundnut seed.

Fuel price

New Delhi, Aug. 10: The government is likely to take a view on raising petrol and diesel prices because of a surge in the cost of crude after the current monsoon session of Parliament ends in mid-September.

RBI move

Mumbai, Aug. 10: The Reserve Bank has constituted a working group to examine the scope of participation of non-residents, including foreign institutional investors, in interest rate futures.

Gas feud

Mumbai, Aug. 10: The stand-off between the two Ambani brothers over gas supply took a new turn today with Reliance Natural Resources demanding a fixed tenure of 17 years and an assured quantity of 28 million standard cubic metres of the fuel per day.

Geometric buy

Mumbai, Aug. 10: Geometric Software Solutions has acquired a 17.74 per cent stake in the US-based Teksoft, making the latter a wholly owned subsidiary.