Business

Kingfisher Airlines was slated to formally join the global airline grouping 'Oneworld Alliance' on February 10.

The country's largest car-maker Maruti Suzuki has reported 5.18 per cent rise in sales to 1,15,433 units for January.

The Reserve Bank had lowered its GDP growth forecast for the current fiscal to 7 per cent.

Timothy Roemer, who resigned as US Ambassador to India last year, said it will also strengthen Indo-US trade.

According to sources, other issues discussed in the meeting included the National Telecom Policy-2011.

The bank will look at how Tuesday's cut in the CRR rolls out before doing more open market operations, Bank Governor Duvvuri Subbarao said.

The Central bank has warned that inflation is likely to remain high and the fall in food prices would be short-lived.

Banks and exporters preferred to reduce their dollar position in view of sustained capital inflows.

The government formally eliminated restrictions on foreign investment in its single-brand retail sector on Tuesday.

A wide range of issues like bank recapitalisation, rising fiscal deficit targets are likely to be discussed.

Rs 2,000 crore will be invested by us to buy equity in some of the 52 properties planned, Sant Singh Chatwal told.

The Tata Sons chairman however admitted that the company wasted an early opportunity on the car.

The Nifty touched 4,588.05 in an intra-day trade, before finishing up 12.45 points at 4,636.75.

Fitch Ratings placed the ratings of Belgium, Spain, Slovenia, Italy, Ireland and Cyprus in credit watch negative.

Traders said software and diamond exporters were selling dollars, providing some temporary relief.

The rupee sank to a record low of 53.21 per dollar on worries of Europe's debt crisis could exacerbate the growth slowdown.