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Moneylife Digital Team 22 December 2010
To serve efficiently to its 28 lakh customers, Mumbai-based electricity distribution company Reliance Infrastructure Ltd has upgraded its distribution network by adding new substations and cable lines in its distribution network. As a part of its network augmentation programme, the company...

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Moneylife Digital Team 22 December 2010
IT bellwether Tata Consultancy Services (TCS) Ltd said it has signed a multi-year agreement to accelerate hospitality firm Hilton Worldwide’s technology strategy as part of the ‘Hilton Worldwide Innovation Collaborative’ initiative. The Innovative Collaborative initiative aims to evolve...

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Moneylife Digital Team 22 December 2010
ING Vysya Bank & Angel Broking sign MOU; L&T Mutual Fund unveils 91 days FMP; HDFC Mutual Fund declares dividend under Medium Term Opportunities Fund; Bank of Maharashtra, State Bank of Mysore increase interest rates ING Vysya Bank & Angel Broking sign MOU ING Vysya Bank Ltd and Angel...

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Moneylife Digital Team 22 December 2010
New Delhi: The oil ministry today said the "delay" in deciding on Vedanta Resources' $9.6 billion acquisition of Cairn India will not have any impact on the 9th round of auction of oil and gas areas under the New Exploration Licencing Policy (NELP), reports PTI. "The ministry has said that we...

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Moneylife Digital Team 22 December 2010
Lakhimpur: Minister of state for petroleum and natural gas Jitin Prasada has said state-run oil companies have the freedom to fix petrol prices, but the government will step in if rates shoot up "indiscriminately", reports PTI. "Petrol prices had been exempted from government control and oil...

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Munira Dongre 22 December 2010
Based on a strong quarter of consulting sales and bookings by Accenture, and robust growth in new licence sales by Oracle, Kotak Institutional Equities expects blockbuster growth for the top three Indian IT services firms–TCS, Infosys and Cognizant—in the new year Accenture's November 2010...

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Moneylife Digital Team 22 December 2010
New Delhi: With onion prices skyrocketing to as much as Rs85 per kg in some retail markets, the Indian government today said it has brought down customs duty on imports of the commodity to zero from 5%, reports PTI. “The customs duty on onions has been brought down to zero,” finance secretary...

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Moneylife Digital Team 22 December 2010
The domestic market is likely to witness a green opening today, tracking firm global cues. Markets in the US closed at their two-year highs on positive earnings forecasts and news of corporate deals. The Asian pack was trading with marginal gains in early trade this morning on signs that...

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Deena Mehta 21 December 2010
The proposed rules regarding compensation to exchange executives are flawed, as are the rules for listing of exchanges and restricting their profits, and the powers to SEBI to regulate market infrastructure institutions Compensation for executives: The Bimal Jalan Committee report on ownership...

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Moneylife Digital Team 21 December 2010
Oil and Natural Gas Corporation Ltd’s subsidiary, ONGC Videsh Ltd (ONGC) has signed a “Framework Agreement on Cooperation in Hydrocarbon Sector” in Delhi with Sistema, a public financial corporation in Russia and CIS. According to the agreement, the two companies will consider opportunities...

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Moneylife Digital Team 21 December 2010
Moser Baer India Ltd’s subsidiary Moser Baer Clean Energy Ltd said that it has commissioned the country’s largest and the first 5MW solar farm at Sivaganga in Tamil Nadu. The technical expertise for commissioning was provided by the engineering, procurement & commissioning (EPC) arm of Moser...

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Moneylife Digital Team 21 December 2010
New Delhi: The Empowered Group of Ministers (EGoM) headed by finance minister Pranab Mukherjee is likely to meet next week to consider raising prices of diesel and domestic liquefied petroleum gas (LPG), reports PTI. “We are hopeful of an EGoM meeting soon ... hopefully it may happen next...

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Moneylife Digital Team 21 December 2010
Strong global cues enabled the local market log in with gains this morning. Across-the-board buying kept the indices in the positive terrain throughout the trading session and helped them end above their crucial levels. The market opened with modest gains this morning on support from the global...

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Moneylife Digital Team 21 December 2010
New Delhi: The Plan Panel has asked the finance ministry to examine the possibility of setting up several infrastructure debt funds (IDFs) to fund core sector development activities in the country, which are estimated to cost $1 trillion during the 12th Five Year Plan (2012-17), reports...

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Moneylife Digital Team 21 December 2010
Tamilnad Mercantile Bank Ltd (TMB) has increased its domestic term deposit interest rates for various maturities by 25 to 100 basis points with effect from 21st December. The revised rates for deposits are: 7% (old rate 6.25%) from 91 days to 120 days for the general public as well as senior...

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Moneylife Digital Team 21 December 2010
Bajaj Hindusthan Ltd (BHL) has said that the company through a consortium has signed a memorandum of understanding (MoU) with the Uttar Pradesh government for setting up a mega power project of 1,980MW (3x660MW) at Bargarh in Uttar Pradesh (UP). The cost of this project is estimated to be...

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Moneylife Digital Team 21 December 2010
Lanco Infratech Ltd has won an engineering, procurement and construction (EPC)  contract worth Rs4,100 crore from a subsidiary of Moser Baer Projects Pvt Ltd for execution of its coal based 2x600 MW power project. The scope of work includes setting up of the main plant including civil and...

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Moneylife Digital Team 21 December 2010
Bangalore: India is still the world’s favourite destination for offshore outsourcing, but attractive cost structures in the Philippines, Vietnam and Indonesia and the rapid growth of the business in China are posing tough competition, reports PTI quoting a new study by Gartner Inc. In the...

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Moneylife Digital Team 21 December 2010
Dhanlaxmi Bank ties up with Doha Bank for remittance services; Kotak Mahindra MF to convert Indo World Infrastructure Fund into open-ended scheme; Fidelity MF declares dividend under Tax Advantage Fund Dhanlaxmi Bank ties up with Doha Bank for remittance services Dhanlaxmi Bank has signed an...

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Moneylife Digital Team 21 December 2010
New Delhi: State-owned Indian Oil Corporation (IOC) is losing revenues of Rs118 crore per day on selling diesel, domestic LPG and kerosene below their imported cost, reports PTI quoting a company official. “We are losing very heavily on diesel after international oil prices firmed up to $90 a...

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