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ECONOMIC SCAN

Toyota Kirloskar Motor to increase prices in 2016
PANAJI: Toyota Kirloskar Motor announced an increase in prices of all its vehicles by up to 3per cent effective from January 1, 2016. The decision is in line with the general industry trend prompted by increasing cost of manufacturing vehicles and a consistent upward trend in foreign exchange rates. “We have been absorbing all the additional costs till now thereby protecting our customers from the price increase. However, owing to continued pressure of high costs and foreign exchange rates remaining at high levels of above Rs 66 USD, we have been pressured to increase the cost of all our products”, said N Raja, Senior Vice President, Marketing and Sales, Toyota Kirloskar Motor. NT

KARVY launches India Wealth Report 2015
MUMBAI: KARVY Private Wealth, the Wealth management arm of the KARVY Group launched its 6th edition of India Wealth Report 2015. The India Wealth Report provides a comprehensive perspective of the Wealth held by individual in India, presents an in-depth analysis of the avenues of investments as well as the expected pattern of future investments. Based on extensive research, the report provides an annual “Wealth” update for all Indian individuals. Abhijit Bhave, CEO, KARVY Private Wealth said, “This year our projection is that the individual wealth in financial assets will double over the next five years and mutual funds & alternative investments will top the table in terms of growth rates”. NT

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