Sugar was traded at Rs 65 per quintal higher last week at the commodity exchange and market is expected to remain firm in the coming times due to the fears of low yield.

The rejection of petition, field by the mills on SAP issue supported prices at the commodity exchange.

The court upheld the prices fixed by the government at Rs 140-145 per quintal. Other factors such as depreciation of rupee against US dollar, global slow down and liquidity crunch helped to raise the demand of sugar.

After recent reduction in Aviation Turbine Fuel (ATF), domestic air carriers are all set to cut air fares. Country's leading air carriers, Kingfisher Airlines and Jet Airways are likely to reduce fare by Rs 600 per ticket in January. Notably, Union Aviation Ministry has asked the carriers to pass the benefits of ATF cut to the customs by reducing air fares.  

After stiff opposition and controversy over Satyam-Maytas deal, Indian IT giant, Satyam Computers called off the acquisition of India-based companies Maytas Infra and Maytas Properties.

Earlier, the board of directors has approved the proposal to acquire 51% in Maytas Infra and 100% in Maytas Properties at USD 1.6 billion. Maytas deals in infrastructure and development projects besides asset development and urban space infrastructure development.

The Gems and jewellery export is likely to suffer yet another blow in December 2008 after a 34% decline to $987 million in November 2008.The reduction in overseas demand has forced the industry to cut production and lay off workers. In a desperate move, the Gem & Jewellery Export Promotion Council (GJEPC) has demanded immediate interim relief to prevent the imminent crisis and loss of over 25-30 per cent of its labour force due to recession enforced layoffs. It wanted banks to provide capital at lower cost which will help them generate fresh orders by diversifying into different markets.  

The Infrastructure development company IVRCL Infrastructures and Projects has bagged orders worth a whopping Rs746.26 crore from different agencies for construction related projects. 

The realty firm will undertake a turnkey housing project for AP Cine Workers Co-operative Housing Society at Hyderabad for Rs 550.28 crore. Hyderabad-based firm got an order worth Rs114.35 crore from City and Industrial Development Corporation of Maharashtra (CIDCO) for construction of an exhibition centre in Navi Mumbai. 

In addition to the above, it has received another order worth Rs70.62 crore from Government of Pondicherry for creating new habitation in the Union Territory (UT) for Tsunami affected people.