ECONOMY & NATION


Moneylife Digital Team 07 February 2014
During the December quarter, Sun TV Network’s net profit fell marginally on higher costs while its total revenues increased 5% on better income from D2H business Sun TV Network Ltd, a media and broadcasting company, reported a 2% decline in its third quarter net profit mainly due to 13%...

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Moneylife Digital Team 07 February 2014
Despite Diageo offering to divest bulk of Whyte & Mackay business to address anti-competition concerns posed by its deal with United Spirits, the UK OFT expressed concern about the impact of the deal The Office of Fair Trading (OFT) in the UK has released a 53-page report detailing...

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Moneylife Digital Team 07 February 2014
Foseco India declared a final dividend of Rs15.50, taking its full year dividend to Rs24.50 per share even as its December quarter net profit fell 47%   Foseco India, a supplier of metallurgical chemicals for the ferrous and non-ferrous industry, reported 47% fall in its fourth quarter...

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India needs to allow Iran to open accounts in banks other than UCO Bank and from all the major port cities, which would result in increased trade between the two countries It may be recalled that Iran signed on 24 November 2013 an accord with US and European Union (world powers, really),...

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Moneylife Digital Team 06 February 2014
During the December quarter, Elgi Equipments posted a net profit of Rs16.85 crore driven by healthy sales in international markets Elgi Equipments Ltd, an air compressor manufacturer, reported a 22% growth in its third quarter net profit, mainly driven by healthy growth in overseas...

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Moneylife Digital Team 06 February 2014
During the December quarter, the tyre manufacturer’s net profit remained flat as it paid 17% higher interest and 5% more taxes MRF Ltd, the Chennai-based tyre manufacturer, reported almost flat first quarter net profit on higher interest expenditure and taxes.   For the quarter to...

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Moneylife Digital Team 06 February 2014
After facing probe by the EOW of Mumbai police, QNet, its founder and associates will now face the ED sleuths in the Rs425 crore MLM scam Enforcement Directorate (ED), the agency responsible for enforcing economic laws and fighting economic crime in India, has registered a case in the...

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Moneylife Digital Team 06 February 2014
Two BSES units approached the Supreme Court against a notice issued by NTPC for cutting power supply of Delhi, if its dues are not cleared by the Anil Ambani-led power distribution companies BSES Rajdhani Pvt Ltd and BSES Yamuna Pvt Ltd, the two power distribution companies from Delhi...

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Moneylife Digital Team 06 February 2014
MCX has been given time till 10th February to submit a time-bound action plan to ensure its promoter Financial Technologies cuts stake in the Exchange to 2% Crisis-hit Multi-Commodity Exchange of India Ltd (MCX) has said its board of directors is scheduled to meet on 7th February to take...

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Moneylife Digital Team 05 February 2014
For the December quarter, Cummins India posted a 37% fall in its net profit due 6% decline in sales volumes Cummins India Ltd, manufacturer of diesel and natural gas engines, reported a 37% fall in its third quarter net profit on subdued demand in Indian capital goods markets. For...

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Moneylife Digital Team 05 February 2014
During the December quarter, the Daiichi Sankyo unit said it loss narrowed to Rs395.96 crore from Rs616.01 crore a year ago Ranbaxy Laboratories (Ranbaxy), a unit of Japanese Daiichi Sankyo Co Ltd pharmaceutical company said its fourth quarter net loss narrowed despite lower sales and...

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Moneylife Digital Team 05 February 2014
The Tribunal asked governments of Maharashtra, Gujarat and Goa to have regular vigil in the coastal areas and arrest illegal sand mining in the area, which falls within the CRZ The National Green Tribunal (NGT) has asked state governments of Maharashtra, Gujarat and Goa to instruct...

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Moneylife Digital Team 05 February 2014
The Centre had earlier told the court that AAP leaders, including Kejriwal, had not provided the information sought by it on the funding received by the party The Delhi High Court on Wednesday sought responses from Aam Admi Party (AAP) and its founding members, including chief minister...

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Moneylife Digital Team 05 February 2014
Satya Nadella is taking over at a time when Microsoft, the world’s largest software company, is expanding its focus to devices and cloud infrastructure   Software giant Microsoft has appointed Hyberabad-born Satya Nadella as its new chief executive officer (CEO). Nadella would replace...

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Moneylife Digital Team 05 February 2014
The funding would help the MFI to meet growing demand from customers for range of products and services including insurance, mobile loans, loans for solar lights in addition to micro credit, SKS Microfinance says SKS Microfinance, the largest microfinance non-banking finance company...

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China is breathing down our necks in Myanmar, all because we have so far neglected to take serious interest in this country We are neighbours, and have a 1,640 kms long border with Myanmar along with our Eastern states, with Mizoram being the closest to them. As against this, Pakistan...

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While negotiating with suppliers from Qatar, it would be in the long term interest for India to invite them to be a joint venture partner in one or more of the LNG terminals in the country A couple of weeks ago, Moneylife carried a story on the developments of LNG industry in the...

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RBI’s order to withdraw all currency notes of pre-2005 creates confusion that could be easily avoided In a positive move, the Reserve Bank of India (RBI) has decided to mop up currency notes with lower security features which have been widely counterfeited. But the way it went about it...

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Moneylife Digital Team 03 February 2014
The downward revision in GDP reflects the lower growth in the agriculture, mining, electricity and construction sectors of the Indian economy, says Nomura in a research note   The government revised lower FY13 (year ending March 2013) GDP growth to 4.5% year-on-year from 5.0% earlier....

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Moneylife Digital Team 03 February 2014
The fiscal situation has been under stress because of weak revenue collection amid a slowing economy, yet-to-materialise asset sales and still-elevated spending, says Nomura in a research note   The government’s fiscal deficit in the first nine months (April-December 2013) of FY14...

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