Wednesday, July 23, 2008

Business News

Business News

Australia's inflation surges to 4.5 percent on oil prices, bank charges and housing costs

Posted: 23 Jul 2008 03:40 AM CDT

CANBERRA, Australia (AP) _ Australia's annual inflation rate surged to 4.5 percent in the latest quarter fueled by rising oil prices, bank charges and housing rents, government figures revealed Wednesday.

Oil drops below US$127 a barrel in Asia, extends decline on easing supply concerns

Posted: 23 Jul 2008 03:30 AM CDT

SINGAPORE (AP) _ Oil prices slipped further Wednesday after tumbling more than US$3 a barrel in the previous session as a hurricane looked likely to spare key oil installations in the U.S. Gulf of Mexico.

Indian shares rise 5 pct on reform hopes after win

Posted: 23 Jul 2008 03:24 AM CDT

MUMBAI (Reuters) - Indian shares extended gains to more than 5 percent on Wednesday, with financials such as ICICI Bank leading the rally after a victory for the government boosted hopes for revival of stalled economic reforms.

SBI's fund unit plans gold ETF

Posted: 23 Jul 2008 03:13 AM CDT

MUMBAI (Reuters) - SBI Funds Management plans to launch a gold exchange traded fund (ETF), joining five other domestic asset managers offering the product.

UPA's victory boosts Sensex

Posted: 23 Jul 2008 03:05 AM CDT

Mumbai, July 23 (ANI): The United Progressive Alliance Government's victory in yesterday's confidence motion in the Lok Sabha gave a boost to today's Sensex, which soared to 650 points in the early hours of the market opening.

Glaxo enters branded generics market with Aspen

Posted: 23 Jul 2008 03:03 AM CDT

LONDON (Reuters) - GlaxoSmithKline Plc, the world's second largest drugmaker, took a bold step in the branded generics marketplace on Wednesday via an alliance with South Africa's Aspen Pharmacare Holdings.
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