Inflation spurts to 3.12 per cent
The Wholesale Price Index-based annual inflation rate maintained its upward momentum for the sixth consecutive week to touch 3.12 per cent for the week ended November 13, despite a marginal fall in the index. The rate recorded a 0.11 percentage points rise to 3.12 per cent (provisional), compared with 3.01 per cent (provisional) in the previous week.

IOC in talks with Enron Oil, Petronas
Indian Oil Corporation has drawn up plans for a mega liquefied natural gas joint venture in Kakinada, Andhra Pradesh, where Enron Oil and Petronas of Malaysia are likely to be roped in. The project involves construction of regasification facilities at a liquidterminal port being commissioned by the Andhra Pradesh government.

Samsung eyes $58bn global sales
Global electronic giant Samsung has unveiled ambitious plans to make India the export base for its market in the Middle East, Sri Lanka, Bangladesh, and other countries to achieve a global sales target of $58 billion by 2005. Samsung India managing director Kwang Soo Kim said the abundance of cheap skilled labour acted as an incentive for pumping in large investments in India.

Canara Bank plea on ABCL
The Appellate Authority for Industrial & Financial Reconstruction will hear on December 1 an appeal filed by Canara Bank challenging the order of BIFR which had declared ABCL as a sick entity. Canara Bank, in consortium with Allahabad Bank, had given a credit of about Rs 14 crore to ABCL.

FIIs turn net buyers after 3 months
After three months of being net sellers, foreign institutional investors have turned net buyers in the capital market during the first 25 days of November,with fresh investments of $254.7 million. During the week ended November 25, the FIIs made a net investment of $38.6 million, according to data available with the Securities and Exchange Board of India.

ICICI to use Reuters product
The ICICI group has selected the Kondor+ application for its treasury, trading, and risk-management needs. Kondor+ is a product of global information and news group Reuters.

Freedom of information bill
The bill on freedom of information to be introduced in the next session of parliament was aimed at ensuring the greatest amount of transparency about the entire spectrum of governmental operations, law minister Ram Jethmalani said on Sunday. The bill would be a great step towards scrapping the Official Secrets Act.

Japanese firm tries to patent curry
A Japanese company has stunned devotees of Indian food by applying for a patent on curry, according to a British Sunday newspaper. The House Foods Corporation is trying to take out a patent on the dishcooked every day by hundreds of millions of people on the Indian subcontinent and which has become a favourite in restaurants throughout Britain.

-- Compiled by S Hariharan