Forex kitty rises

Mumbai, Nov. 17: The country’s foreign exchange reserves rose by $3.66 billion for the week ended November 9 to $270.18 billion as the Reserve Bank bought more dollars to check the rapid rise of the rupee. Forex reserves increased by $4.07 billion to $266.52 billion for the week ended November 2. Foreign currency assets expressed in dollars include the effect of appreciation or depreciation of other currencies, such as euro, pound, sterling and yen held in reserves.

Gas deal

Islamabad, Nov. 17: A high-level delegation from Iran will visit Pakistan next week to finalise the gas pipeline project and the two countries can start the joint venture without India as it is “legally justified”, Iranian ambassador Masha Allah Shakeri said today. Talks between Islamabad and Tehran on the pipeline are in the final stages, he told a press conference.

NRI mutuals

Kochi, Nov. 17: The mutual fund being promoted by Qatar-based Doha Bank and Tata Asset Management, targeting non resident Indians, especially Keralites, will be launched early next year, Doha Bank chief executive officer R. Seetharaman said. “The approval from regulatory bodies in the two countries is being awaited,” he said. At least 30 per cent of the corpus will be used to fund infrastructure projects in Kerala.