Business Today

Noted

By Forbes, four Indian CEOs among the 10 wealthiest chief executives in the world. Steel tycoon Lakshmi Niwas Mittal is the second-wealthiest, followed by Mukesh Ambani (at #6), Anil Ambani (at #7) and Azim Premji (at #9). Berkshire Hathaway CEO Warren Buffett tops the list.

     Print Edition: February 24, 2008

Ranked: By Forbes, four Indian CEOs among the 10 wealthiest chief executives in the world. Steel tycoon Lakshmi Niwas Mittal is the second-wealthiest, followed by Mukesh Ambani (at #6), Anil Ambani (at #7) and Azim Premji (at #9). Berkshire Hathaway CEO Warren Buffett tops the list. However, the net worth figures have been taken from a list taken prepared almost a year ago.

Dipped: To 16 per cent, India’s export growth in December 2007, mainly due to the rising rupee. Total exports during the month was $12.3 billion, compared to $10.61 billion the previous December. Cumulative exports during the first nine months of 2007-08 were at $111 billion.

Risen: To a five-month high of 3.93 per cent, the inflation rate based on the wholesale price index for the weekended January 19. The surge in inflation is fuelled by manufactured foodstuff like edible oils, ghee, sugar and primary articles like wheat, arhar, soyabean and industrial fuels such as furnace oil and light diesel oil.

Slashed: To Re 1 per minute, the rate charged by MTNL for international calls to about 100 countries by its internet protocol (VoIP) customers. Customers can avail of this rate for calls to Saudi Arabia, Pakistan, Japan, Malaysia and Kuwait, among other countries. Call rates to the US, the UK, Canada, Australia, Singapore and Hong Kong are already at Re 1 per minute.

Relaxed: By the government, FDI norms for investments in seven key sectors. It has allowed 74 per cent FDI in non-scheduled airlines, 49 per cent in commodity exchanges and up to 49 per cent FDI in credit information companies. Then, PSUs in petroleum refining can, with prior FIPB approval, accept up to 49 per cent FDI. And 100 per cent FDI has been allowed in titanium mining.

Approved: By the boards of Kingfisher Airlines and Deccan, the swap ratio for their merger at 3:7. Shareholders of Kingfisher Airlines will be allotted three shares in Deccan for every seven shares they hold in Kingfisher Airlines. The merger will be effective from April 1.

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