Business Highlights Of The Week That You May Have Missed

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Here's a quick look at the business highlights for the week ending Feb 21, 2015:

WPI Inflation Falls

Business Highlights Of The Week That You May Have Missed
WPI inflation fell to its lowest level in five and half years to -0.39 per cent.

This was the lowest level seen since June 2009. Stock markets were ecstatic on hopes that the Reserve Bank of India would cut interest rates give the low inflation rates.

Corporate Espionage

There were reports of corporate espionage, including key documents and information being leaked from the oil and gas ministry. Shares from the oil and gas sector fell on Friday, though it is still unclear and names have to be yet revealed.

Coal Block Auctions Begin

Coal Block auctions began during the week and there was aggressive bidding by most of the companies, particularly those from the oil and gas sector. Bidding has taken place for a staggering Rs 80,000 crores.

RBI Lifts Certain Gold Restrictions

The Reserve Bank of India lifted certain restrictions on gold. The ban on imports of gold coins and medallions by banks and trading houses, were lifted with certain restrictions.

Greece Agreement Reached

The worries over a Greece debt deal abated as Greece and Eurozone nations have agreed to extend Greece's financial bailout by 4 months. Stock markets across the globe, except the US were closed when the deal was agreed and will react to the news on Monday.

Dow Hits Record on Greece Deal

The Dow Jones Industrial Average hit a new record, making it a 5th record closing in 2015 for the index. The news that a Greece deal has been reached propelled sentiments further.

Read more about: business highlights
Story first published: Saturday, February 21, 2015, 6:23 [IST]
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