ECONOMY & NATION


MDT/PTI 18 January 2013
RIL, which operates the world's biggest refining complex at Jamnagar in Gujarat, earned $9.6 on turning every barrel of crude oil into fuel in the quarter, compared to $6.8 per barrel gross refining margin in the same period a year ago New Delhi: Reliance Industries (RIL), India's...

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MDT/PTI 18 January 2013
Discounting the argument that gold is a hedge against inflation, the senior-most deputy governor wondered how a hedge instrument can offer as high as 37% return year after year   Mumbai: Terming investment in gold as a speculative activity and not hedge against inflation, RBI deputy...

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MDT/PTI 18 January 2013
The diesel hike comes at a time when the Railways is facing an acute financial crunch. Earnings from passengers and freight have failed to meet the target in the current fiscal   New Delhi: The diesel price hike has put an additional burden of around Rs2,700 crore a year on the cash-...

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MDT/PTI 18 January 2013
Net interest income of the bank for the December quarter stood at Rs3,798.9 crore, a growth of 21.9%, mainly on account of increased loan book   Mumbai: Private sector HDFC Bank today reported a 30% jump in net profit at Rs1,859.07 crore for the October-December quarter of the current...

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MDT/PTI 18 January 2013
The total FMCG net revenue during the quarter stood at Rs5,440.06 crore with the cigarettes category accounting for Rs3,657.36 crore   New Delhi: Diversified group ITC today reported a 20.62% rise in its standalone net profit at Rs2,051.85 crore for the third quarter ended 31 December...

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MDT/PTI 18 January 2013
Nokia, which in June 2012 had had announced slashing of up to 10,000 jobs globally by the end of 2013, said these are the last anticipated reductions as part of its focused strategy announcement   New Delhi/Helsinki: Nokia on Thursday said it will outsource the IT function to Indian...

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MDT/PTI 18 January 2013
Wipro expects its revenues from IT services business to be in the range of $1.585 billion to $1.625 billion for the quarter ended 31 March 2013 Mumbai: Wipro, the country’s third largest software services firm, today reported 18% rise in its consolidated net profit to Rs1,716.4 crore for...

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MDT/PTI 17 January 2013
Hero MotoCorp managing director & chief executive officer Pawan Munjal said: “The last two quarters have been challenging for the Indian auto industry on account of the delayed monsoons, rising fuel prices and subdued sentiments”   New Delhi: Hero MotoCorp, the country’s largest...

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MDT/PTI 17 January 2013
The German sportswear major has brought in Erick Haskell, ex-COO of its China operations, to head the business here as it looks to move on after last year’s alleged Rs870 crore fraud at its arm, Reebok India   New Delhi: German sportswear major Adidas group today announced a top...

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Moneylife Digital Team 17 January 2013
The Indian sugar industry is once again in the spotlight despite higher sugar production as losses mount due to higher imports, especially from Pakistan The misery and woes of the Indian sugar industry continues as the industry is facing fresh losses despite record production. This puts...

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MDT/PTI 17 January 2013
Indian Overseas Bank will have access to a full suite of solutions to support its global cross-currency payable and receivable flows through Deutsche Bank’s cross currency payment solution FX4Cash   Chennai: Public sector Indian Overseas Bank (IOB) has inked a memorandum of...

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MDT/PTI 17 January 2013
Reduction in the reserve price of CDMA spectrum may help companies like Sistema of Russia to bid in the auction and make up for the ones they lost when the Supreme Court cancelled 122 licences in February last year   New Delhi: The government of India on Thursday approved a 50%...

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MDT/PTI 17 January 2013
Earlier this week, agriculture minister Sharad Pawar, finance minister P Chidambaram and food minister KV Thomas reviewed the edible oil imports and discussed the issue of raising the duty on edible oil   New Delhi: The government today imposed 2.5% import duty on crude edible oil to...

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MDT/PTI 17 January 2013
The IDF will have an initial of $1 billion of which 50% will be contributed by Indian investors and 50% by foreign investors, IIFCL CMD SK Goel said at the launch of first credit enhanced infrastructure bonds   New Delhi: State-owned India Infrastructure Finance Company (IIFCL) on...

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MDT/PTI 17 January 2013
The NSE has already decided to suspend the trading in shares of DCHL from 23rd January, as the company failed to submit financial results and shareholding pattern data   Mumbai: BSE (Bombay Stock Exchange) has decided to exclude Deccan Chronicle Holdings from the BSE-500 index,...

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MDT/PTI 17 January 2013
With the commissioning of the new mill that has been funded through mix of internal accruals and debts, the company has increased its all India cement capacity to 5 MTPA, Ashish Guha, CEO and MF, Heidelberg Cement India, said New Delhi: Expanding cement making capacity in India,...

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MDT/PTI 17 January 2013
In a bid to discourage high ticket prices , the Maharashtra government on Wednesday decided to give them a seven-year holiday on entertainment tax, and also set a cap of Rs200 for multiplex tickets Mumbai: To encourage single-screen theatres in rural area, the Maharashtra government on...

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MDT/PTI 17 January 2013
RBI deferred the implementation of Basel III, the global capital norms for banks, by three months to 1st April. Meanwhile, the deadline for the full implementation of the Liquidity Coverage Ratio for banks, which were to kick in from 2015, has been extended till 2019 New Delhi: The...

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MDT/PTI 17 January 2013
As per the structure proposed, 99% cent of government holding in the bank will be shifted to the holding company and the government will retain 1% with itself so that it remains a state-owned bank New Delhi: The government is likely to consider within a few weeks a proposal for setting...

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MDT/PTI 17 January 2013
Air India officials said they have grounded all the six planes in its fleet with immediate effect following the FAA directive and the Director General of Civil Aviation (DGCA) advisory New Delhi: State-owned Air India on Thursday grounded all its six Boeing-787 Dreamliner planes after a...

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