ECONOMY & NATION


The writer talks about the latest government measure to relax cabotage and its dire implications on the shipping industry which could be non-existent within a decade A few weeks ago, the Government of India, in its wisdom and consideration, released a press note on relaxation of...

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MDT/PTI 28 September 2012
The company has registered a total premium collection of Rs810 crore during the April-June quarter 2012 and it expects premium income to grow further in the next three quarters of the current fiscal New Delhi: Reliance Life Insurance is targeting over 25% growth in its new business...

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MDT/PTI 28 September 2012
Fitch also cautioned that volatile political environment poses risk towards implementation of various reform initiatives unveiled by the government earlier this month   New Delhi: Global ratings agency Fitch today lowered India’s growth projection for the current fiscal to 6% from...

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Moneylife Digital Team 28 September 2012
Substantial FII inflows are anticipated, if the government’s proactive stance on reforms continues. However, these measures are insufficient to significantly reduce fiscal deficit. A FY13 fiscal deficit of 5.8% of GDP has been forecast, as there is no magic wand to reign in government...

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MDT/PTI 28 September 2012
The new-age lender, amongst the last of the banks to be granted licences, will invest up to Rs25 crore and enter the highly competitive fray in early FY14   Mumbai: Private sector lender Yes Bank today said that it has received the Reserve Bank of India (RBI) nod to enter the equity...

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MDT/PTI 28 September 2012
The moderation in growth was on account of the negative growth in the production of natural gas, cement, fertilisers and crude oil, besides a decline in the growth rates of steel and electricity production New Delhi: Eight core industries grew at a slower pace of 2.1% in August against...

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MDT/PTI 28 September 2012
The second most populous country in the world has emerged as a major vaccine producer in recent years, focusing efforts on geographical regions where vaccines are not funded by the UN or charitable organisations Washington: India’s vaccine production sector is likely to expand...

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MDT/PTI 28 September 2012
The NCP legislature party has already appealed to Ajit Pawar to withdraw his resignation, sent to the state chief minister on Tuesday, after an expose in a section of the media on alleged irregularities in the irrigation department Mumbai: The crisis in Maharashtra government after...

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This major step will have adverse effect on manufacturers of branded drugs who expect a revenue loss of about Rs1,500 crore but will be beneficial to the aam aadmi in reducing his cost of medications The recommendation by the Group of Ministers to bring 348 essential medicines under MRP...

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MDT/PTI 28 September 2012
This is the third time that SBI Caps has been asked to prepare a rejig exercise for the airline. In 2010, it had made a debt recast plan for the airline and in November that year, its Rs6,500 crore worth loan was recast Mumbai: Turning down a request for a Rs200 crore working loan by...

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Moneylife Digital Team 27 September 2012
Oversupply in the thermal power sector means we can expect margins and return ratios to trend downwards. Espirito Santo Securities recommends ‘sell’ on shares of BHEL, Thermax and BGR Energy—key power equipment suppliers In order to revive the SEBs (State Electricity Boards), the...

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MDT/PTI 27 September 2012
Without disclosing the deal value, Religare Enterprises said in a statement that Atlanta-based Invesco has entered into a definitive agreement to acquire 49% interest in RAMC   Mumbai: Financial services major Religare group is selling 49% stake in its mutual fund arm Religare Asset...

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Nidhi Jain  and   Piyush Sinha 27 September 2012
It is good that the benefit of investment in infrastructure bonds is being extended to charitable/religious trusts. However, a clarification from CBDT is expected as to why the benefit u/s 80CCF is not extended to the current fiscal for individuals and HUF For attracting investment in...

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MDT/PTI 27 September 2012
The party chief will attend a meeting of the NCP legislature party at 4pm on Friday and is expected to announce his final decision on Ajit Pawar's resignation Mumbai: The exit of Ajit Pawar from the Maharashtra government on Thursday appeared certain with Nationalist Congress Party (NCP)...

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MDT/PTI 27 September 2012
The Evalia, which claims 50% more fuel efficiency than its rivals at 19.3 km per litre, is Nissan's sixth model in India and the third one to be made locally Mumbai: Japanese auto major Nissan Motor, which forayed into the Indian multi-utility vehicle segment by rolling its first...

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Cora Currier (ProPublica) 27 September 2012
Federal watchdog in the US says the mortgage giant had no coordinated plan to bet against homeowners, though Freddie Mac held billions of dollars of investments that paid off if borrowers stayed stuck in high-interest loans Mortgage giant Freddie Mac did not keep homeowners trapped in...

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MDT/PTI 27 September 2012
Finance Minister Chidambaram is keen on getting Cabinet approval on raising FDI cap in insurance sector and it should soon go to the Cabinet   New Delhi: The Union Cabinet is likely to soon take up the proposal of hiking foreign investment limit in the insurance sector in India to...

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MDT/PTI 27 September 2012
JM Financial Products sold its entire 1.99% stake to Dynavest India, one of the promoter group firms of Max India, for an average price of Rs189 per share Mumbai: Non-banking finance company JM Financial Products Ltd, has offloaded its entire stake of around 2% in Max India for nearly...

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MDT/PTI 27 September 2012
The central bank would consider financial restructuring proposals submitted by UCBs, involving conversion of deposits into equity/IPDI, even if the networth of the bank does not become positive after such conversion of deposits, provided the depositors agree voluntarily for such...

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MDT/PTI 27 September 2012
Bhaskarpara allotted to Grasim Industries and Electrotherm; Dahegaon Markardhokra IV given to IST Steel & Power; North Dhadu allotted to Electrosteel Castings; Choritand Telaiyaallotted to Rungta Mines and Gondkhari block allotted to Maharashtra Seamless were among the blocks whose...

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