RELIANCE OPENS FIRST GAP STORE IN MUMBAI

Mumbai (ANI): Reliance Retail on Friday announced the opening of the first freestanding Gap store in Mumbai.

The launch of this Gap store marks a milestone in the long-term partnership between Reliance Retail and Gap, through which the Indian firm is the official retailer for Gap across all channels in India, according to a statement from Reliance Retail.

etary Fund (IMF) had in its January update of the World Economic Outlook said although the global economy is poised to slow this year, before rebounding next year, the outlook is less gloomy than in its October forecast, and could represent a turn ing point, with growth bottoming out and inflation declining.

“Together we must resolutely address the chal lenges that con front us, including those that

FTA with EU may take longer to conclude: Goyal

New Delhi (PTI): Benchmark indices pared early gains and ended lower on Friday in line with weak trend in Asian markets and concerns that the US Federal Reserve might raise interest rates further to curb inflation.

Fresh foreign fund outflows and selling pressure in HDFC twins also dented investor sentiments.

The BSE Sensex declined 141.87 points or 0.24% to settle at 59,463.93 despite a firm start. During the day, it fell 280.46 points or 0.47% to 59,325.34.

The NSE Nifty dipped 45.45 points or 0.26% to end at 17,465.80.

In the Sensex pack, Mahindra & Mahindra, Tata

Steel, Tata Motors, Maruti, Larsen & Toubro, HDFC, HDFC Bank, Tech Mahindra and Bharti Airtel were the major laggards.

Asian Paints, Bajaj Finserv, Power Grid, Reliance Industries, NTPC and UltraTech Cement were among the gainers.

INDIAN RUPEE FALLS 10 PAISE TO CLOSE AT 82.74 AGAINST AMERICAN CURRENCY

Mumbai (PTI): The rupee depreciated 10 paise to close at 82.74 (provisional) against the US currency on Friday. At the interbank foreign exchange market, the rupee opened at 82.67 against the greenback and finally settled for the day at 82.74 (provisional), registering a fall of 10 paise over its previous close of 82.64. During the session, the domestic unit witnessed an intra-day high of 82.66 and a low of 82.81. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.10 per cent higher at 104.69.

AS IT EXPANDS ITS FLEET & OPERATIONS

New Delhi: Tata Motors on Friday announced the launch of its new league of DARK series including new models of Nexon, Harrier, and Safari. AThe Nexon Petrol Dark is priced at `12.35 lakhs (ex-showroom) compared to Rs 7.8 lakh for normal version. Similarly, the Nexon Diesel Dark costs `13.70 lakh vs 9.99 lakh for the normal version.

The Harrier (Diesel) Dark edition is priced at `21.77 lakh; Safari 7S Diesel Dark at `22.61 lakhs. —FIB are of medium to longterm nature such as threats to financial stability, debt distress, climate finance, fractures in global trade and strains on global value chains. We must promote greater global economic cooperation and position the global economy on a trajectory of strong sustainable balanced and inclusive growth,” Das said. The RBI Guv said G20 is poised for a transformational journey.

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After opening over 50 Gap shop-in-shops since last year, Reliance Retail now initiates the second phase of the launch with the new Gap store at Infiniti Mall in Mumbai. A shopin-shop is an area that one retailer sublets within another retailer’s premises. A freestanding store is a store on the street and not in a mall or a shopping centre. The expansion of Gap’s India presence will include a series of freestanding store openings across the country in the coming months, according to the statement.

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New Delhi (PTI): Union commerce minister Piyush Goyal on Friday said a free trade agreement with the European Union (EU) will take longer as negotiations with the 27-country bloc will be prolonged.

Active negotiations for the FTAs (free trade agreements) are ongoing with two-three countries and the EU, Goyal said.

“EU will take a longer time, because there are 27 countries which have to come on the same page,” the minister said.

Last year, India signed FTAs with Australia and United Arab Emirates. Reports had suggested that the country is in talks with other countries including the UK, Israel and Canada.