Prices may fall in the near future, while interest rates on your home, auto or personal loans may not rise immediately. In a curious turn on Tuesday, the RBI raised its policy rates and signalled to commercial banks to increase their deposit and lending rates as well, but banks said they'd rather wait.

The Air India management on Sunday presented a new turnaround proposal before its board of directors, the government and the various employee unions. Addressing a press conference, the Union Civil Aviation Minister Praful Patel said the government and the board is convinced that the proposal will scale satisfactory results as the unions have committed to wholeheartedly support the proposal.

BP will start deep-water drilling off the coast of Libya within weeks, a company spokesman said on Saturday. "The drilling will start in a few weeks," spokesman David Nicholas told DPA, confirming a report in the Financial Times. The oil field is believed to contain vast amounts of crude oil and up to 850 million cubic metres of natural gas. BP intends to access the resources within the next six months.

Wipro Ltd posted net profit of Rs.13.19 billion (Rs 1,319 crore) for the first quarter (April-June) of this fiscal (2010-11), registering 31 percent year-on-year (YoY) growth. In a regulatory filing on Friday, the IT bellwether said its total revenue for the quarter under review (Q1) grew 16.6 percent YoY to Rs 72.36 billion (Rs 7,236 billion).

Social networking site Facebook officially has 500 million users, the company announced on Wednesday. The milestone means that the six-year old website now reaches eight percent of the planet's population, just 18 months after it passed the 150 million user mark. Last month Facebook founder and CEO Mark Zuckerberg said there is a "good chance" that the social networking site could boast one billion users within three to five years.

The wait is now over for the US investors, who want to bet on the Indian stock markets, with the Chicago Mercantile Exchange starting the trade in Nifty Futures from Monday. The Chicago Mercantile Exchange (CME) is introducing two new contracts — E-mini and E-micro S&P CNX Nifty (Nifty 50) Futures — designed to access the Indian market opportunities.

The 50-share Nifty is the benchmark index of the National Stock Exchange, the largest stock exchange in the country. The index accounts for 22 sectors of the economy.