BackThe Mint report for 26 Jan 2010
The Mint report for 26 Jan 2010
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India’s fuel exports to the US more than doubled last year. And new data shows the expansion was driven by Reliance Industries Limited. The figures from Clarkson Research Services show India exported some 610,000 metric tonnes of petroleum products to the US in 2009, much of it coming from RIL, which started a refinery focusing on exports in December 2008.
Maruti Suzuki may have crossed a key milestone last year. According to reports, Maruti produced 966,399 vehicles in 2009 compared to just 908,302 from Suzuki Motor, indicating it has surpassed Suzuki for the first time. Maruti currently has 13 vehicles on its portfolio, including its new family car the Eeco. And the company plans to expand capacity at its main factory by 250,000 units by 2012.
Low-cost airline SpiceJet says it plans to fly to international destinations this year. It says it has made applications for authorizing new routes to Sri Lanka, Nepal and Bangladesh. The airline also plans to hire about 150 people to staff its four new aircraft.
Government-run telecom company BSNL says it’s concerned it may not be able to meet the mobile number portability deadline. The company has asked the department of telecommunications to speed up security clearances for equipment that it says it needs to implement portability. Mobile number portability allows cell phone users to change their operators without changing their numbers. The current deadline for implementing portability in the top four metros has already been extended to 31 March from the earlier date of 31 December.
Standard Chartered says the RBI is likely to tighten its monetary policy soon. It expects the RBI to increase its cash reserve ratio by 50 basis points when it meets to review monetary policy on Friday.
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