Rupee crashes to 12-month low
MUMBAI, 6 JUNE: The partially convertible rupee crashed to a 12-month low falling below 57 in trade with one American dollar in Thursday’s early morning deals on Inter-Bank Foreign Exchange. sns
FDI clarification
NEW DELHI, 6 JUNE: The government today clarified that the multi-brand retail store set up by a global retail entity will have to be ‘company owned and company operated’ and not operated by any franchisee. The DIPP said this in a clarification on queries of prospecti-ve investors/stakehold-ers on FDI policy. The 30 per cent sourcing rider will be considered fulfill-ed only if it is implem-ented for frontend stores, the DIPP said. pti
Engineer held
WASHINGTON, 6 JUNE: An Indian engineer has been arrested by the FBI for allegedly stealing trade secrets from his former employer, after downloading secret information on prefillable syringes and pen injectors for economic gains. Mr Ketankumar Maniar (36), a resident of Mahwah township in New Jersey, allegedly stole trade secrets of products being developed by a global medical technology company named Bec
ton, Dickinson and Comapny. pti
Kalmadi grilled
NEW DELHI, 6 JUNE: Former CWG Organ-ising Committee chief Suresh Kalmadi was today questioned by the CBI for alleged irr-egularities in over Rs 70 crore contracts giv-en to a Mauritius-based company for the 2010 Commonwealth Gam-es. The firm–Event Kno-wledge System (EKS)–was allegedly given three contracts worth over Rs 70 crore by the committee for cons-ultancy services. pti