ECONOMY & NATION


Moneylife Digital Team 20 June 2013
In a White Paper on black money tabled in Parliament last year, the Indian government said that the total liabilities of Swiss banks towards Indians fell by more than Rs14,000 crore during 2006-2010 period   Indians’ money in Swiss banks has fallen to a record low level of about...

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Moneylife Digital Team 20 June 2013
Besides gold, silver, crude oil and base metals, processed farm items like sugar, soya oil and guar gum will come under CTT, according to the notification from the finance ministry   Commodities Transaction Tax (CTT) will be levied at 0.01% on various non-agricultural commodities,...

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Moneylife Digital Team 20 June 2013
Weak domestic fundamentals such as record current account deficit and high inflation concerns too put pressure on the rupee, dealers said   The Indian rupee on Thursday plunged by a whopping 130 paisa to hit lifetime low of 59.93 against the US dollar in the early trade on the...

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Moneylife Digital Team 20 June 2013
Moneylife Foundation has been receiving complaints from its members that they are not receiving their fixed deposit maturity amounts from two Yash Birla Group companies namely Zenith Birla (India) and Birla Power Solutions. Is there financial trouble brewing in the group? The economic...

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Once the Smartgrid plan is implemented by Power Grid Corporation, it expects to prevent tripping and help in smooth flow of power. But, as a sequel to setting up the Smartgrid, state electricity distribution companies will have to upgrade their inter-state checking transmission...

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Moneylife Digital Team 19 June 2013
Several PILs were filed seeking CBI probe into the multi-crore Saradha chit fund scam    The Calcutta High Court on Wednesday refused to grant the prayer for an investigation by Central Bureau of Investigation (CBI) into the multi-crore Saradha chit fund scam.   Passing an...

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Moneylife Digital Team 19 June 2013
About 70% of the 1,949 square kilometres of the block falls in an area where DRDO and Navy exercises are conducted and has been classified as “Impact Zone” where oil and gas operations are not possible, BP said   UK’s BP plc has asked the Indian petroleum ministry to compensate for a...

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With concerns like moderating growth and regulatory overhangs still present, telecom stocks are moving up even on slightly positive news    Shares of telecom companies Ideal Cellular (Idea), Reliance Communications (RCom) and Bharti Airtel (Airtel) have been on the upmove for a while...

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Moneylife Digital Team 19 June 2013
The EU has imposed a fine of Euro 93.8 million on Danish pharmaceutical company Lundbeck and fines totalling Euro 52.2 million for delaying market entry of cheaper generic versions of Lundbeck’s branded citalopram   The European Commission (EU) today imposed a fine of Euro 146 million...

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Seraphina D’souza 19 June 2013
The last date for paying property tax in Mumbai is 30 June 2013.  The big question today is, should people pay their taxes or will the high court release its order in favour of many who will need to pay their taxes based on the flawed method of the Ready Reckoner   Moneylife...

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Moneylife Digital Team 19 June 2013
The auto manufacturer stated that the vehicles had met all the safety regulations at the time of its manufacturing. However, critics had pointed out that because the gas tanks were placed behind the rear axle of the SUVs, the chances of the cars catching fire in rear-end collisions were high

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Moneylife Digital Team 19 June 2013
The decision comes following the appeal by the Delta Airlines and the Airline Pilots Association of a lower court decision in July 2012 that determined that the Exim Bank improperly approved financing for purchases of certain Boeing aircraft by Air India   A US court has rejected a...

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Vishrut Patel 19 June 2013
In another example of cartelization among bankers, several banks have increased or started imposing charges for transaction alerts through SMS as well as for mobile banking. As usual, private lenders have taken the lead, which soon would be followed by nationalized banks There is no free...

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Moneylife Digital Team 18 June 2013
The Bill being pushed by the Obama administration gives the domestic IT professionals in the US a 60-day period to find a new job after they lose the existing one, among several other sweeping reforms   Software services industry body Nasscom today raised concerns over proposed...

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Moneylife Digital Team 18 June 2013
Passengers carried by domestic airlines between January and May this year stood at 259.98 lakh, compared with 258.08 lakh in the same period last year, registering a growth of 0.74%   Domestic air passenger traffic marginally grew by less than a percentage point in the first five...

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Moneylife Digital Team 18 June 2013
Among the notable proposals cleared by the Board were the Rs962 crore proposal of Vijay Television for acquisition by foreign promoters and Korea Western Power Co’s proposal to invest in an Indian company to the tune of Rs270 crore   The government has approved 16 projects involving...

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Moneylife Digital Team 18 June 2013
Poor sales and demand for cotton seed in western Vidarbha indicates that farmers could shift from cotton to pulses like tur, chana and even linseed besides soyabean Large number of traditional cotton growers in the Vidarbha region of Maharashtra may shift to soya this Kharif season as...

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The wheels of the nation can move smoothly when power supply is available in plenty and without any interruption The Rangarajan Committee’s recommendation to fix the price of domestically produced gas at about $8 for Reliance Industries (and obviously, for others) was not welcomed by the...

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Moneylife Digital Team 17 June 2013
The power ministry is moving the newly constituted Cabinet Committee on Investment to seek diversion of as much as 6 mmscmd currently consumed by non-core sectors like steel and petrochemicals, to power plants With gas supplies to power plants drying up, the power ministry will approach...

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Sushmita V Gopalan 17 June 2013
EAS Sarma, the former secretary to GoI suggested that the MCA evolve a system to trace dubious investment or shell companies involved in money laundering EAS Sarma, former Secretary to the Government of India, has suggested that the ministry of corporate affairs (MCA) evolve a system in...

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