Economists said the rise in the most keenly watched cost of living index may continue to be in double-digit for some more time, but would ease to single digit levels by March next year. This, however, will hinge on how crude oil prices, which now rules above $140 a barrel, move, they added. We could expect double-digit inflation for most of calendar year 2008 unless there is a dramatic change in the international prices of oil and other commodities like steel. Domestic inflation is also a function of global commodity prices. Inflation is likely to ease by the last quarter of the fiscal. My forecast for the economy is a 7.8% growth for the current fiscal, said leading economist Saumitra Chaudhuri. The way we calculate inflation, even if prices completely stabilise now, we will have double-digit inflation for some time, Subhashis Gangopadhyay, advisor to finance minister Palaniappan Chidambaram, told reporters here. He added that the government would have to wait and watch if more cen...

Detergent major Nirma, which in July had agreed to buy the cement business of the French major Lafarge India, on Thursday raised `4,000 crore debt to fund the deal, making it the largest rupee bond sale for a leveraged buyout. “The `4,000-crore five-year bond sale by Nirma offers a yield of 8.68% was oversubscribed 1.5 times. This is the largest rupee bond sale for a leveraged acquisition as also the largest AArated debt instrument,“ investment banking sources told PTI here. Sources also said the money was raised by Nirchem, special purpose vehicle created by Nirma for the buyout, will be used to fund the deal. The Ahmedabad-based company had appointed Barclays, Credit Suisse and IDFC to manage the issue. The i-bankers sources today said the issue has been closed successfully and will be listed on the exchanges. AA At 8.68% yield for a ` ‘ rated company this is a good pricing, the i-bankers said. Nirma, the maker of soaps and chemicals, could not be contacted immediately for ...