ECONOMY & NATION


Anshuman Nandi 25 July 2012
The RBI issued directions but has not clearly spet out its intentions, which may give room to confusion in the mind of those who carry out factoring as an ancillary business On Monday, the Reserve Bank of India (RBI) brought into force a new kind of Non Banking Financial Company—Factors...

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As per the agreement, CIC will be merged with JSPL's subsidiary, Jindal BVI and its existing shareholders would get CAD 2 per share New Delhi: Jindal Steel and Power (JSPL) said it entered into a binding merger agreement to acquire Canadian coal firm CIC Energy for Canadian dollar (CAD)...

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MDT/PTI 24 July 2012
Wipro Consumer Care already owns Yardley portfolio for Asia, Middle East, North Africa and Australasia    Mumbai: Wipro Consumer Care & Lighting on Tuesday said it bought London-based Yardley's business in Europe except Germany and Austria for an undisclosed sum, reports...

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MDT/PTI 24 July 2012
According to a senior official, the Finance Ministry have reached a final consensus on approvals to the FDI proposals in the pharma sector and sent the file to PMO for final view   New Delhi: Prime Minister's Office (PMO) will take a final view on relaxing foreign direct investment...

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MDT/PTI 24 July 2012
Urging the government not to exert pressure on the people to pay toll, Raj Thackeray said if the people stationed at the toll plazas force the commuters, then party workers from MNS would act accordingly   Mumbai: Asking the state government to bring transparency in toll collection at...

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Chaggan Bhujbal is alleged to have used sky-high valuation of shell companies to collect money, in return for giving out largesse. This is an increasingly popular trick with Indian politicians turned “businessmen” There was a time when politicians did politics and used businessmen to...

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Moneylife Digital Team 24 July 2012
  The truck and bus manufacturer reported poor bottom line despite increasing its sales by 8,210 units during June quarter, citing spiralling consumer prices and huge expenses on branding and marketing campaign with MS Dhoni  Ashok Leyland, the flagship of the Hinduja Group and one...

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MDT/PTI 24 July 2012
There is absolute consensus that prices of diesel, LPG and even kerosene have to be raised, but when and how is uncertain says a top official   New Delhi: Close on the heels of 70 paise per litre hike in petrol prices, the Oil Ministry is pushing for an increase in diesel and domestic...

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The Sharad Pawar led party also indicated that any pull out in Delhi could have a cascading effect on the coalition in Maharashtra    New Delhi: Upping the ante, sulking Nationalist Congress Party (NCP) on Tuesday warned the Congress that if its demands like coordination committee for...

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The Competition Commission said leniency will be shown to those companies and individuals coming out with information on cartels and anti-competitive agreements while protecting their identification    New Delhi: Encouraged by the general response on its Rs6,300-crore penalty in the...

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Eicher and Polaris said their 50:50 JV would roll out personal vehicles by 2015 in the domestic and overseas market   New Delhi: Commercial vehicle maker Eicher Motors on Tuesday announced its entry into the personal vehicle segment by tying up with the US-based Polaris Industries to...

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Uninor said in light of the continuing uncertainty around the auctions, it decided to scale down its operation in Tamil Nadu, Kerala, Karnataka and Orissa     New Delhi: Mobile services provider Uninor on Tuesday said it will scale down operations in four telecom circles - Tamil Nadu,...

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During the June quarter, Canara bank's total revenues, including interest income, rose 19% to Rs9,165.47 crore while NPA increased to 1.98% from 1.7%   Mumbai: Public sector lender Canara Bank on Tuesday posted 6.8% increase in net profit at Rs775.28 crore for the first quarter ended...

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If the new CDR guidelines are followed net profit of state-run banks will likely decline by 6% to 18%, but for private banks, it will be much lower at 0.2 to 2% says StanChart in a report     Mumbai: The new corporate debt recast (CDR) norms issued by the Reserve Bank of India (RBI)...

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In a video message, Anna Hazare asked the government to set up of a SIT to probe corruption allegations against Union Ministers, a fast track court to try cases against MPs and bringing a strong Lokpal Bill   New Delhi: Stepping up pressure ahead of the indefinite fast from tomorrow,...

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According the three-nation study project "Poverty eradication in Afro-Asian countries", women households engaged in micro enterprise activities were found to have higher income in India and Ghana due to certain favourable policy directions Kochi (Kerala): A recent British Council...

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On 13th May 1952, the two Houses of the Parliament held their first sessions, following the first General Elections in the country   New Delhi: To commemorate the occasion of 60 years of Parliament, the Reserve Bank of India (RBI) will introduce Rs5 and Rs10 denomination coins having...

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RBI in its 'prudential norms for off-balance Sheet Exposures of Banks' notification said, banks may partially or fully terminate the contract before maturity, at their discretion, thereby reducing the notional exposure of the contract   Mumbai: The Reserve Bank of India (RBI) said...

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Wipro's IT services revenue, which accounted for 78% of the total revenues, grew 30% year-on-year in rupee terms to Rs8,314 crore during the first quarter Mumbai: Wipro Ltd, India's third-largest software company on Tuesday reported 18.4% increase in consolidated net profit at Rs1,580.2...

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The RBI should look at converting the PSBs into limited companies and take steps to amend the laws to make them more accountable to the public shareholders and comply with the listing guidelines, both in letter and spirit In a frank admission of corporate governance deficit in public...

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