Mumbai, May 21 - The BSE benchmark Sensex today fell by over 112 points to close at one-week low of 20,111.61, mainly due to profit booking in interest rate sensitive stocks, including realty, auto and banking. The 30-share index lost 112.37 points, or 0.56 per cent, to close at 20,111.61. It had lost 62 points yesterday. Similarly, the broad-based National Stock Exchange index, Nifty, declined by 42.80 points, or 0.70 per cent, to 6,114.10.

Mumbai, May 21 - A mere one per cent increase in licenced software usage can generate almost USD 1.3 billion in economic output compared to USD 554 million from a similar increase in pirated software intake, reveals a study. "While 1 per cent increase in use of licensed software would generate almost USD 1.3 billion in national production, a similar increase in pirated software consumption would generate USD 554 million, meaning properly licenced software would deliver USD 739 million in additional economic value.

Kolkata, May 21 - India should open up its economy more for eliminating poverty and achieve a higher rate of growth and allow foreign capital for building infrastructure, US ambassador Nancy Powell said. "In the last two decades, growth in India was made possible by openness and foreign investment.

New Delhi, May 21 - The government today said it would send letters to 70,000 "high priority" assessees this month asking them to disclose their true income and pay taxes in the current financial year. "... 70,000 letters are being sent in two batches to other high priority cases in this month. Of these, the first batch of 35,000 letters has been dispatched on May 20, 2013," the Finance Ministry said in a statement.

Mumbai, May 21 - Iron ore mining in Karnataka will take a minimum of two years to become fully operational after the Supreme Court verdict allowed resumption of mining at category-A & B mines in the state, an industry official has said. Also, out of the 115 mines that will be eligible to re-start operations, as many as 35-40 are not likely to start operations due to various issues, he added.

New Delhi, May 20 - Worried over widening current account deficit (CAD), the government today indicated that it could take more steps to check gold imports. "Some more steps, if necessary, would have to be taken, but I appeal to the people of India to contain their passion for gold," Finance Minister P Chidambaram told reporters here. Gold imports jumped by 138 per cent to USD 7.5 billion last month, the highest so far this year, pushing up the trade deficit to USD 17.7 billion.

Jaipur, May 20 - Beleaguered Rajasthan Royals today terminated the contract of the three players -- including India pacer S Sreesanth -- arrested on charges of spot-fixing in the ongoing IPL besides filing an FIR against the tainted trio. "Based on the information provided by the authorities, the contracts of all three players have been suspended pending enquiry," Rajasthan Royals chairman Ranjit Barthakur said in a statement.

New Delhi, May 20 - India and China today decided to deepen their economic ties, cooperate on civil nuclear energy programme and enhance military interactions besides working together at various international forums. "India and China have a historic opportunity for economic and social development and the realisation of this goal will advance peace and prosperity in Asia and the world at large", a joint statement issued after talks between Prime Minister Manmohan Singh and his visiting Chinese counterpart Li Keqiang said here.

Mumbai, May 20 - The Indian rupee dropped further by 23 paise to close below 55-level at nearly 4-1/2-month low of 55.11 against the Greenback on sustained dollar demand from importers and some banks amid weak dollar overseas. Weakness in local equities also weighed on the rupee while continued capital inflows failed to restrict the rupee fall. FIIs pumped in Rs 867.93 crore last Friday, as per provisional data with stock exchanges.