The gold prices increased 4.6 per cent to Rs 14,146 per 10 gram due to large interest of investors in the yellow metal in the midst of economic uncertainty and strong position of dollar against other major currencies. The prices touched a three-month high of $930 an ounce in the international market, confirming it as the safest investment mode under current economic environment.

An analyst with Anand Rathi Commodities, Subodh Gupta said, "The economic uncertainty in Europe, and the strong dollar is making gold attractive as a safe-haven investment rather than a hedge against inflation."

Country's largest oil marketing company, Indian Oil Corporation (IOC) announced financial results for the third quarter ended December 31, 2008. The firm managed to register 42 per cent increase in net profit at Rs 2,958.59 crore, on accounts of support through government bonds.

Sarthak Behuria, Chairman of IOC said, "In spite of inventory losses and lower refining margins, the profit could be achieved due to support from the government by way of additional bonds."

In a bid to propel housing activities in the country, the Union Government has urged all States speed up the handing over of the 'pattas' to low income groups. It would help to arrange funds for the construction of new homes leading to increase in demand for cement and steel sector, the most impacted sectors due to global financial crisis.

The idea was suggested by Mr. T. K. A. Nair, Principal Secretary to the Prime Minister in a meeting of Chief Secretaries of States on 'Implementation of economic stimulus measures', in the capital.

India's second-biggest reality developer, Unitech Ltd has announced its financial results for the third quarter of current financial year, posting 74 per cent decline in net profit.

The reality giant suffered huge losses due to decline in demand following break out of global financial crisis and tight financial conditions of monetary market.

The sixth additional chief metropolitan magistrate, hearing fraud case of beleaguered Satyam Computers, has extended judicial custody of Ramalinga Raju and three other, the main accused involved in the largest ever corporate audit scam in the country.

They have been booked under cheating, criminal conspiracy, falsification of records and forgery in Rs 70 billion Satyam fraud case.

The country's largest bank, State Bank of India (SBI) introduced a special offer for home loan segment in which the bank would provide loan at interest rate of 8 per cent, applicable up to April 30, 2009. It would be the lowest interest rate offered by any bank in India, applicable to all new as well as existing borrowers for one year.