1. Rupee slips to 62.11 per dollar ahead of GDP data
Mumbai: The Indian rupee on Friday opened lower ahead of the release of gross domestic product (GDP) growth numbers later in the day.
The domestic currency opened at 62.11 per dollar against its Wednesday’s close of 61.99.
The government will release GDP data for the three months
ended December and fiscal deficit data for January later in the day. A Bloomberg poll showed that GDP will grow 4.7% in the December quarter as against 4.8% in September quarter.
The yield on India’s 10-year benchmark bond was trading
at 8.912%, almost same as its Wednesday’s close of 8.919%. Bond yields
and prices move in opposite directions.
At 9.15am, the rupee was trading at 62.08 per dollar,
down 0.16% from its previous close, while India’s benchmark index, BSE
Sensex, was trading at 21,035 points, up 0.21% from last close.
The dollar index, which measures the US currency’s
strength against major currencies, was trading at 80.272, down 0.01%
from the previous close of 80.285.
Airtel, others fined in Nigeria for poor service
Abuja: Nigeria’s telecom regulator has fined mobile operators Bharti Airtel Ltd, MTN Group Ltd and Globacom Ltd
a combined 647.5 million naira ($3.9 million) and banned them from
selling SIM cards in March due to poor service, it said on Thursday.
Globacom, which is owned by Nigerian billionaire Mike Adenuga,
was fined 277.5 million naira ($1.7 million), while South Africa’s MTN
and Airtel were each fined 185 million naira ($1.1 million, or around Rs.6.8 crore), the Nigerian Communications Commission (NCC) said in a statement.
The NCC will charge each company 2.5 million naira for
every day the fine is not paid after 7 March, it said. The month-long
ban on selling SIM cards in a country of around 170 million people could
be the most damaging.
The penalties were imposed because the operators had failed to meet key performance indicators in January, the NCC said. Reuters
md.aquil alam
pgdm 2nd semester
source.. live mint
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