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Forex reserves fall by $144 mn to $283.4 bn
India"s forex reserves declined by $144 million to $283.499 billion in the week ended December 25 as compared to $283.643 billion in the previous week, the Reserve Bank of India (RBI) said in its weekly report.

Intl M&As' decline by 56% predicted
International mergers and acquisitions are forecast to decline by 56 per cent this year compared with 2008, the largest year-on-year decline since 1995, the Organization for Economic Cooperation and Development (OECD) said in a report.

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Cotton exports may rise to 1.4 MT, says global body
India’s cotton exports are likely to rebound to 1.4 million tonnes in 2009-10 (October-September) at the cost of exports from the US, which are forecast to fall 20 per cent to 2.3 million tonne on year, according to International Cotton Advisory Committee (ICAC).
Public Company

SCI takes delivery of second crude container from S Korean firm

State-run Shipping Corporation of India (SCI) today said it accepted delivery of a crude container named "Desh Vishal" from Daewoo Shipbuilding Marine Engineering Co. - Emerging-market funds pulling out - E Somanathan: How to get decent colleges in India">E Somanathan: How to get decent colleges in India - Weaker Dollar may revive demand for gold as alternative investment - Better be wooden - Emerging-market stocks will advance 32 per cent - Crude oil falls below $70 on dollar gain The company had placed orders for two very large crude containers (VLCCs) in October 2005 with the South Korean company. "The vessel (Desh Vishal) is the second of SCI"s two VLCCs which were being constructed at Daewoo Shipbuilding Marine Engineering Co. The first vessel "Desh Viraat" was delivered to SCI in October 2008," the company said in a press release. The vessel has a gross tonnage of 1,62,412-tonnes and is the largest vessel in the Indian Register, it said. SCI has a fleet of 79 vessels and looks to acquiring more with a view to maintaining a modern and young fleet. The company has 30 vessels on order at present and plans to order 40 more ships in the next 2-3 years.


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