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Moneylife Digital Team 14 December 2010
New Delhi: The Enforcement Directorate (ED) will soon issue Letters Rogatory (LRs) to ten countries as part of its probe in the multi-crore second generation (2G) spectrum scam, reports PTI. Official sources said the directorate, which has already contacted its counterparts in 10 countries,...

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Moneylife Digital Team 14 December 2010
Global cues point out to a cautious opening for the local market today. Wall Street closed almost unchanged overnight on concerns about growth prospects in China played on investors’ minds and on profit-booking after the recent market rise. Markets in Asia were mostly higher in early trade on...

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Moneylife Digital Team 13 December 2010
New Delhi: An Empowered Group of Ministers (EGoM) headed by finance minister Pranab Mukherjee may meet on 22nd December to decide on raising diesel prices by Re1-Rs2 a litre in the backdrop of global crude rates climbing to near $90 a barrel, reports PTI. “The meeting of EGoM has been...

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Moneylife Digital Team 13 December 2010
Kochi: Turning down Kerala's plea for uniform pricing policy for natural gas throughout the country, Petroleum and Natural Gas Regulatory Board (PNGRB) chairman, Lalit Mansingh, today said there was no provision for determining the price of gas to the consumers either by the government or...

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Moneylife Digital Team 13 December 2010
New Delhi: The telecom ministry today started issuing show-cause notices to telecom companies which allegedly suppressed information to bag licences or failed to roll out services in stipulated time, reports PTI. “Show-cause notices to some firms have gone today and we expect to complete the...

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Moneylife Digital Team 13 December 2010
Mumbai: HDFC chairman Deepak Parekh today said that the proposal in the new Companies Bill, which seeks to restrict the tenure of independent directors, needs to be reconsidered, reports PTI. “The government is working to put a limit on the tenure of independent directors to a set number of...

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The Indian market is undergoing a secondary correction, after which it will be headed much higher   The markets have been correcting over the past few weeks and lot of traders and investors are asking themselves the question whether the bull market is over or if it is just a temporary...

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Moneylife Digital Team 13 December 2010
Drug-maker Aventis Pharma Ltd said it will sell its 49% stake in Chiron Behring Vaccines Pvt Ltd (CBVPL) to its joint venture partner, Novartis Vaccines & Diagnostics Inc, for $22.4 million (nearly Rs100 crore). The two partners, that have been fighting a legal battle over marketing of...

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Moneylife Digital Team 13 December 2010
Confidence Petroleum India Ltd announced that two of its units have received orders worth Rs36.64 crore from Hindustan Petroleum Corporation Ltd (HPCL) for supply of LPG cylinders. Confidence Petroleum’s Khopoli Cylinder manufacturing unit and Andhra Cylinders, a unit of Envy Cylinders, have...

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Moneylife Digital Team 13 December 2010
Amara Raja Batteries Ltd has launched Amaron Volt TM, a specialised storage battery for the Indian telecom industry.   Amaron Volt TM, a 2V high integrity series product is the latest valve-regulated lead-acid battery (VRLA) offering from Amaron Hi Life range to meet the emerging demanding...

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Moneylife Digital Team 13 December 2010
New Delhi: As part of its money laundering prevention efforts, market watchdog Securities and Exchange Board of India (SEBI) will now keep a tab on mutual fund investments made by bureaucrats and politicians, including former and current state heads, reports PTI. Come 1 January, 2010, all the...

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Moneylife Digital Team 13 December 2010
IDBI Bank revises base rate, BPLR and interest rates on deposits; Bank of Baroda raises BPLR by 75 bps, base rate by 50 bps; IDFC Mutual Fund floats three months plan IDBI Bank revises base rate, BPLR and interest rates on deposits IDBI Bank announced a hike in deposit and lending rates by...

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Moneylife Digital Team 13 December 2010
New Delhi: Driven by increased availability of oilseeds in domestic market, the country’s vegetable oils import has declined by over 11% to 6.68 lakh tonnes in November, reports PTI quoting an industry body. “Last year, we had a drought that had reduced availability leading to higher imports...

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Moneylife Digital Team 13 December 2010
New Delhi: Third generation (3G) services can give public calling offices (PCOs) a facelift with its owners offering features like video calling at cheap rates to its customers, reports PTI quoting telecom equipment maker Ericsson. The Swedish firm has started a pilot project to demonstrate...

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Moneylife Digital Team 13 December 2010
Dubai: Oman could strengthen domestic availability of foodgrains by entering into “contract farming” with Indian farmers, reports PTI quoting Planning Commission deputy chairman Montek Singh Ahluwalia. He said that agriculture is an important area for Omani government to invest. “Indian...

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The troubles in Greece, Spain, Portugal, Ireland, have forced these countries to refocus their priorities. On the other hand, so-called successful economies like Brazil, India and China may have to pay, perhaps very soon, for lop-sided growth Investors don't like trouble. Instinctively, like...

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Moneylife Digital Team 11 December 2010
The local market witnessed a lacklustre performance in the week ended 10th December on the back of a huge sell-off in the broader markets. However, the announcement of better industrial output numbers for October, on the last trading day of the week, provided some relief and helped the indices...

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Everybody has all but assumed that SEBI chief CB Bhave is not getting an extension. Will they be surprised? On Friday, 10th December, CB Bhave, the current chairman of the Securities and Exchange Board of India delivered what was considered a hard hitting piece on autonomy of regulators at the...

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Two agencies are quarrelling over whose job it is to fix the problem even as India boasts of being an IT powerhouse On 3rd December, the Indian media called it a "major embarrassment" that the Central Bureau of Investigation (CBI) website has been hacked by "Pakistani Cyber Army". What could be...

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Moneylife Digital Team 10 December 2010
New Delhi: The finance ministry today indicated it will not intervene in the foreign exchange market even if capital inflows into the country touch $50 billion during the 2010-11 fiscal, reports PTI. “$50 billion ...you could have around that. Inflows will continue according to me,” Thomas...

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