Mumbai

Franklin Templeton To Introduce 370-Day Debt Fund Today

Rupee Climbs On Firm Capital Flow Outlook

Mumbai: The rupee inched towards a nine-year high today, as dealers purchased the local unit on expectations for capitalists flows into the securities market, though worries about the fallout from the U.S. mortgage market restricted advancements.

At 9:45 a.m., the rupee stood at 40.69/70 a dollar, mounting from its previous close of 40.79/80. It beat a nine-year record of 40.20 in July.

LIC Jumps Into Credit Card Biz With GE Money

Life Insurance Corporation of India

Jail Term For Alistair Pereira Increased

Alistair Pereira
A Mumbai businessman, who ran over seven pavement dwellers while driving drunk last year, was given rigorous imprisonment of three-year by the Bombay High Court which stated “he doesn’t deserve sympathy.”

The HC showed Pereira no pity sentencing him for causing death because of carelessness and grievous injuries.

Sanjay Dutt Temporarily Released For A Month

Sanjay DuttMumbai: Bollywood star Sanjay Dutt is breathing easy at the moment. He will remain out of prison for an additional month after the TADA court decided to provide the actor with a judgment copy sending him to lockup for six years in the Mumbai serial blasts case only on September 27.

Gold Price may touch $700 per ounce by the end of 2007

GoldGFMS CEO Paul Walker has predicted Gold price to touch $700 per ounce by the end of year. The reason behind this is weak outlook for the US dollar and sub-prime worries in United States. Mr. Walker further stated “The sub-prime issue is just the tip of the iceberg. It is symptomatic of a larger malaise in the system.” He was in Mumbai for fourth India International Gold Convention.

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