India Sensex, Nifty hits 2008 low, inflation at 11.05%, read more india business news headlines, June 20 Friday at http://www.financeinfoonline.com

 Sensex falls to 2008 low; banks, realty plunge, Chidambaram is a big failure as FM: A B Bardan, Inflation at 11.05%, highest in 13 yrs, Fuel price hike led to double digit inflation: chidambaram…

* Fed to hold rates even as inflation fears rise

* Singapore disc drive component maker Unisteel agreed to be bought by Kohlberg Kravis Roberts & Co. for $575 million.

* Dow falls 394.64 points on jobless rate, record oil

* Russian prsident Medvedev puts blame on US for financial crisis

 Readmore finance info and news at http://www.financeinfoonline.com

June 06, 2008, Mumbai: India Petrol and diesel price will be reduced by about Re 1 per litre and Rupee 0.50, respectively, if states agree to forego incremental sales tax revenues they stand to earn on this week’s fuel price hike.States like Andhra Pradesh, Kerala, Karnataka, Punjab and Uttar Pradesh stand to gain over a rupee in sales tax on every litre of petrol sold and over Rs 0.50 on diesel after this week’s Rs 5 and Rs 3 hike in the two auto fuel prices.

Petroleum Minister Murli Deroa on Thursday wrote to chief ministers of 30 states and union territories asking them to “at least forego the incremental tax” revenues so as to ease the burden of spike in international oil prices on common consumers.

3 Jun, 2008 : Shares in Italian broadband operator Tiscali SpA jumped more than 10 per cent on Tuesday after a report that Britain’s Vodafone Group Plc will bid for the company. For more uptodate Financial News see http://www.financeinfoonline.com