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Economy Update

The US Senate has voted in favour of the US – India Nuclear Cooperation
Approval and Non-Proliferation Enhancement Act. Two proposed killer
amendments were also struck down by the Senate. (ET)
The RBI and SEBI are in discussion to relax the currency trading norms,
following demands from the market participation, a top SEBI official has
said. Relaxation in currency trading norms is expected to enable all
categories of market participants to trade in currency futures. (ET)
The government is looking at hiking FDI in direct-to-home TV services to
74% from the current 49%, a senior official said on Wednesday. The
government is also looking at calculating revenue share for the DTH
operators from adjusted gross revenue (AGR) basis rather than the
current practice of gross revenue. (BL)
India’s merchandise exports in August rose by 27% and stood at US $16
bn as against US $12.61 bn in the same month of the previous year.
Imports during the month rose 51.2% and stood at US $ 29.94 bn as
against US $19.80 bn in August, 2007. (BS)