NATIONAL Stocks drift downwards, Sensex down by 37 pts Stocks drifted downwards for the third session in a row, pulling the Sensex lower by another 37 points at close at the Bombay Stock Exchange (BSE) today (Aug 13, 2004) as the prevailing high inflation rate and international crude oil prices continued to dog the market.
India's net oil import bill jumps by 51 pc in Apr-Jun India's net oil import bill has jumped by 51 per cent to Rs 27,135 crore in the first quarter of current fiscal on the back of sharp spike in international oil prices.
Inflation shoots up to a 41-month high of 7.61 pc Inflation shot up by 0.1 per cent to over 41-month high of 7.61 per cent week ended July 31, mainly due to surge in prices of fruit and vegetables, edible oil and other manufactured products.
The inflation, which touched 40-month week high of 7.51 per cent in the previous week, was much higher than 3.96 per cent started rising after surge in prices of fuel, commodities and fruits and vegetables since June this year.
INTERNATIONAL Wipro sets up China subsidiary; operational by Sep Wipro Technologies has incorporated a subsidiary in China and set up a 50-seat development centre in Shanghai to strengthen its position in the Asia-Pacific region.
Australia keen on ties with 'emerging power' India Describing India as an "emerging economic power", Australian Minister for Trade Mark Vaile today (Aug 23, 2004) said his country is keen to see its place in the Indian market grow.
'HR outsourcing in Government is ready to explode' In order to save costs, reduce capital spending and transform fixed costs into variable ones, national and State Governments all over the world are rapidly going the private sector way in outsourcing key human resources and other functions.
