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Moneylife Digital Team 03 November 2010
New Delhi: The Department of Telecommunications (DoT) today extended the deadline for re-verification of subscribers by telecom operators to 31 December 2010, reports PTI. "The service providers approached DoT in October for extension of time. They stated that creation of infrastructure for...

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Moneylife Digital Team 03 November 2010
New Delhi: Tata Teleservices, which has Japanese firm DoCoMo as a partner, today launched third generation (3G) mobile services in nine circles, enabling subscribers to access high speed Internet and video telephony, reports PTI. With this, Tata DoCoMo became the first private telecom firm to...

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The top hedge fund manager sees parallels between US Fed’s actions in 1999 and 2010, which may create a massive liquidity-driven momentum in select assets, like dotocom stocks in 1999. Among his choices is India’s Nifty Famous hedge fund manager Paul Tudor Jones sees that the Fed's response to...

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Moneylife Digital Team 03 November 2010
Singapore: India's Oil and Natural Gas Corporation (ONGC) has beaten Chinese rival China National Offshore Oil Corporation (CNOOC) to become Asia's top oil and gas exploration and production (E&P) company, reports PTI. Under the stewardship of RS Sharma, ONGC climbed three places to take the...

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The RBI had better not shirk its responsibility and get down to regulating MFIs Even Suresh Gurumani would not have suspected that SKS Microfinance’s arrogance in sacking him within two months of a hugely successful IPO (initial public offering) would rip the halo from the company and the...

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Moneylife Digital Team 03 November 2010
The Indian market is expected to open higher on positive global cues. The US indices closed at their six-month highs as investors were optimistic about the Federal Reserve’s bailout plan. The rally was also supported by strong earnings reports. Tracking the US markets, the Asian pack was also...

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Moneylife Digital Team 02 November 2010
Mumbai: In a step towards full autonomy for banks, the Reserve Bank of India (RBI) today said it might deregulate interest rates on savings bank deposits below Rs2 lakh and invited comments from stakeholders on the proposal, reports PTI. The interest rate on savings bank deposits has remained...

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Moneylife Digital Team 02 November 2010
Mumbai: The Reserve Bank of India (RBI) today expressed concerns at galloping rise in prices of shares in stock markets, gold and property, but refrained from saying whether there is asset bubble in the economy, reports PTI. "Although the income levels of households and earnings of corporates...

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Moneylife Digital Team 02 November 2010
New Delhi: The civil aviation ministry today said that the management of Air India was empowered to take any decision during staff selection, following reports that some of its board directors had opposed appointment of Pawan Arora as COO of its low-cost arm Air India Express, reports PTI. "If...

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Moneylife Digital Team 02 November 2010
New Delhi: ICICI Bank and HDFC Bank plan to sell their 50% stake in state-owned Hindustan Petroleum Corporation Ltd's (HPCL) oil exploration firm, Prize Petroleum Co Ltd to a strategic investor, reports PTI quoting a company official. "An advertisement has been issued seeking offers from...

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Moneylife Digital Team 02 November 2010
Two-wheeler maker India Yamaha Motor reported 19.2% increase in its total sales in October at 37,251 units. The company had sold 31,247 units in the same month last year, India Yamaha Motor said in a statement. In the domestic market, the company's sales stood at 31,791 units, as against...

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Moneylife Digital Team 02 November 2010
Prism Informatics Ltd said it will buy 51% stake in Saudi Arabia-based Al Suwaidi Holding Co's unit Information Management Technologies (IMT). No financial details were provided. IMT provides end-to-end IT solutions for broadband wireless communications, infrastructure management and...

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Moneylife Digital Team 02 November 2010
Infrastructure company, Marg Ltd said it signed a memorandum of understanding (MoU) with Spain-based PYCSA Infraestructuras SL to develop urban and rural infrastructure projects. The companies will create a special purpose vehicle to bid for projects. No financial details were provided. With...

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Moneylife Digital Team 02 November 2010
Pharma company Lupin Ltd said its US subsidiary Lupin Pharmaceuticals Inc received US Food and Drug Administration (USFDA) approval for its Suprax (Cefixime) chewable tablets of 100mg, 150mg and 200mg strength. Suprax is a drug to treat urinary tract infections in children, the company said...

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Moneylife Digital Team 02 November 2010
Power utility JSW Energy Ltd said it received approval from its board to develop a 660MW power plant at Vijayanagar in Karnataka at an estimated cost of Rs3,300 crore. The project will be funded with a debt-equity ratio of 3:1, JSW Energy said in a statement. The company also received board...

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Moneylife Digital Team 02 November 2010
Aluminium manufacturer National Aluminium Co Ltd (NALCO) reported a 40% increase in net profit for the second quarter ended September 2010 on higher sales. For the quarter to end-September, the aluminium producer reported a net profit of Rs224 crore from Rs159.5 crore same quarter last year.

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Moneylife Digital Team 02 November 2010
The Indian market ended its two-day winning streak today amid a highly volatile session. The Reserve Bank of India's (RBI) policy announcement weighed down realty and oil & gas stocks resulting in the market paring gains clocked earlier in the session and closing flat with a negative bias. The...

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Moneylife Digital Team 02 November 2010
L&T Mutual Fund unveils L&T FMP-II (November12M A); Principal MF revises Principal Child Benefit-Career Builder Plan; CRISIL assigns highest grading to SBI Mutual Fund schemes; Tata Fund converts Tata Indo-Global Infrastructure Fund into open-ended scheme L&T Mutual Fund unveils L&T FMP-II...

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Moneylife Digital Team 02 November 2010
New Delhi: British energy firm BG Group Plc plans to invest $500 million over next five years in its oil and gas business in India, reports PTI quoting the company's India head Walter Simpson. "We are looking at both upstream and downstream opportunities for expansion in India," he said on the...

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Munira Dongre 02 November 2010
The average 15% y-o-y rise in October dispatches is a positive surprise. However, a lot of brokerages still maintain that there is more pain ahead for cement  ACC reported a 14% rise in sales for October to 1.92 million tonnes (MT). During January-October, both ACC's sales and production...

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