The USD ended near the highs of the day in late New York as the major pairs failed to hold early overnight gains. Despite a higher opening on Wall Street equities gains fizzled as investor confidence started the week on a down note; early excitement over the Chinese stimulus package announced over the weekend did not attract further buying. Traders note that continued concerns over emergency funding requested for the car makers weighed on investors as well as volatility in energy prices; crude oil had near a $6.50 range on the day before giving back gains and closing slightly better.

The Indian School of Business (ISB) has decided to set up second campus of business school in Mohali. Rs. 300 crore campus would be the first campus in northern region and it is expected to be operational by 2012. ISB's first campus is located in Hyderabad. Punjab government has decided to extend every help for this prestigious education institution. It would lease 70 acre of prime land in Mohali for 99 years at Re 1 per acre annually.

Alleged unfair issue of 2G spectrum allocation by department of telecommunication has reached in Delhi high court. Petitioner Mr. Arvind Gupata challenged the First Come First Serve policy of government and alleged that telecom ministry is playing in the hands of some real estate majors and infrastructure giants. PIL alleged that government allotted 2G spectrums at throwaway prices causing huge loss to state exchequer.

There is no dearth of air travelers despite slowdown in aviation sector of the country. Air travel registered positive growth of about 17 per cent in October. It’s surprising, while domestic aviation industry is facing tough situation following global slowdown, high input costs and liquidity crunch. Some airlines have also started retrenchment drive in a line to cut additional cost besides adopting other cost cutting measures.