ECONOMY & NATION


Moneylife Digital Team 18 October 2013
After recanting his earlier affidavit that he himself was to blame, Anjani Sinha has now blamed the Board members for the Rs5,600 crore NSEL scam A day after his arrest, ex-managing director of scam-ridden National Spot Exchange Limited (NSEL), Anjani Sinha, has put the blame squarely on...

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Moneylife Digital Team 18 October 2013
Despite an increase in expenditure, VST industries reports a 17.5% increase in net profit VST industries, a Hyderabad based third largest cigarette manufacturing company of India,  has announced a healthy results for the quarter ending on 30 September 2013. The company reported...

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Moneylife Digital Team 18 October 2013
Maharashtra has been facing an acute water shortage due to drought on one end and the Government advised its staff to keep a check on expenses, but, on the other end its own Ministers have indulged in extravagant flight travel in the past, an average of Rs2.10 crore annually The Forest...

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Moneylife Digital Team 18 October 2013
Despite a marginal increase in expenditure, RS Software announces a rise in profit driven by a 23% rise in income RS software India, a Kolkata-based software company reported 23% increase in net income at Rs9,550 lakh for the quarter ended 30th September 2013 as against Rs7,752 lakh for...

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Moneylife Digital Team 18 October 2013
Bharti Airtel buys out Qualcomm stake in JV for an undisclosed sum. However, a year ago, Bharti bought 49% stake at $165 million and increased its stake to 100% with this deal Bharti Airtel Ltd (Bharti), India’s top telecommunications carrier, said that it had bought out Qualcomm Inc’s...

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Vishrut Patel 18 October 2013
Why would anyone offer Rs15,500 ($256) a day to do basic typing work? Well, it appears to be a straight scam, without even pretending to run a business or create a pyramid.  It simply asks people to register FREE, seeks credit card details, ostensibly as age-proof and begins by siphoning off...

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Moneylife Digital Team 18 October 2013
Former union government secretary EAS Sarma has written a letter to Reserve Bank of India and Department of Economic Affairs, which drew attention to Moneylife article by Ramesh Arunachalam on areas of conflict of interest in the way RBI is processing new private banking licences

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Let the shale resources lie buried in the bowels of the earth, until we find better methods to extract them. It is well known that the extraction of shale gas is likely to cause serious environmental problems The government took the first major step in offering customs duty exemption for...

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The time is now ripe to make the RBI more accountable to the people of India. With its wide ranging powers and greater impact on all aspects of the economy, the accountability of RBI assumes even greater importance and should not be ignored. When I was growing up in the 1960s/1970s, the...

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Moneylife Digital Team 17 October 2013
BGR Energy has secured its first engineering, procurement and construction (EPC) project worth $246 million for Al Nasiriya gas turbine power plant from Ministry of Electricity, Iraq BGR Energy Systems Limited, a leading Indian EPC, balance of plant (BoP), power equipment manufacturing...

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The NRIs are poised to take advantage of the swap window which will fetch them handsome returns on deposits Even before the commencement of festival season, the Reserve Bank of India (RBI) has showered a bonanza on non-resident Indians (NRIs) and it appears to be a “festival sale...

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To an activist like me, the greatest loss is the fall in the quality of banking services to the smaller customers, more particularly the elders, disabled, home maker-women, widows and pensioners Any right thinking Indian will certainly question the wisdom of the Raghuram Rajan, the...

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History was made by exporting 250 MW of electricity to Bangladesh and it has the option to buy 250 MW more from the open market in India, if it needs the same National Thermal Power Corporation (NTPC) has an installed power generating capacity of 41,684 MW, for which 160 million tonnes...

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Moneylife Digital Team 15 October 2013
With RBI Governor Raghuram Rajan focusing more and more on core CPI inflation, BoA Merrill Lynch sees a 25bps hike in repo rate on 29th October Core consumer price index (CPI) inflation, at 8.4%, remained uncomfortably high largely driven by around 10% housing inflation. With Raghuram...

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NHPC and PFC tax-free bonds are offering identical returns. 8.92% tax-free returns from AAA-rated bonds for 20 years; it is a decent option for those in higher tax bracket. Should you go for NHPC, PFC or IIFCL bonds that are being offered or wait for future offers? After the recent...

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Moneylife Digital Team 15 October 2013
Most automakers increased vehicle prices by 1% to 5% during September-October this year. Therefore, the discounts offered in the next couple of months will not translate into significant cost savings when compared with prices in August 2013, feels India Ratings Some public sector...

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After having obtained initial success in monitoring the progress made in Puducherry, Power Grid is taking the next bold step to install 87,000 smart energy meters in the city homes Soon after the power grid collapse in July last year, the then power minister Veerappa Moily was reported...

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Moneylife Digital Team 15 October 2013
SBI in its economic research report also expects repo hike of 25 basis points and MSF downward recalibration of 25 basis points India’s inflation based on wholesale price index-WPI edged up significantly to 6.46% in September 2013. The increase was primarily because of increase in food...

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Rahul Bhangadia 15 October 2013
Indian government and RBI played the card of highlighting double-digit dollar returns to investors, who could leverage. While this may buy them some more time markets will, eventually, judge fundamentals and not jugglery Last few months, every time the Indian rupee is discussed, focus on...

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Moneylife Digital Team 14 October 2013
Almost 37% of agricultural output growth between 2005 and 2011 came from animal products. This is partly a reflection of changing food habits—per capita consumption of food grains is falling whereas that of edible oil, milk and meat is rising, says Credit Suisse Milk, meat, and egg...

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