US action unlikely this year

New Delhi: Contrary to fears expressed in some quarters, the US may not even name India this year for retaliatory action under Special 301 and other such provision of the US trade law. High-level sources in the Commerce Ministry said that “the US has been naming India as priority foreign country since last three years, but had initiated no major action. This year the position is even better, they may not name India at all.” Sources, who have been maintaining both formal and informal contacts with the officials in the US administration, said that the US now realises that it cannot operate unilaterally in a multilateral system.

SEBI seized of grey market issue

Calcutta: The Securities and Exchange Board of India is looking afresh into the grey market operations, especially in the wake of the recent transactions entered into by brokers in respect of the Morgan Stanley Growth Fund issue. The watchdog-cum-regulatory body, it is understood, is veering round to the view that wordings contained, and the language used in prospectuses are not coated in ambiguity. Such language, it observes, may still not contravene rules or mark a departure from established norms and practices.

Inflation rate shoots up to 10.62%

New Delhi: Showing no signs of a let-up, the inflation rate rose to 10.62 per cent during the week ended April 16 from 10.46 per cent in the previous week. The inflation rate during the corresponding week last year was 6.37 per cent. The rate has been hovering in the double digit region for four consecutive weeks since March 26. Only during the week ended April 9 it fell marginally to 10.46 per cent but went up again to 10.62 per cent.

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