ECONOMY & NATION


The National Grid will smooth load flow with least amount of voltage fluctuation. This is likely to make power problems a thing of the past Almost 18 months ago, it may be recalled, that the whole of north, east and western India experienced a total power outage on 30th and 31 July 2012,...

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Moneylife Digital Team 07 January 2014
After former world billiards champion Michael Ferreira, Boman Irani is the second celebrity against whom a complaint has been filed in the Rs425 crore QNet scam The Economic Offences Wing (EOW) of the Mumbai Police has received a complaint against Bollywood actor Boman Irani and his son...

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Moneylife Digital Team 07 January 2014
Naveen Patnaik-led Biju Janata Dal, which will face Assembly elections in May, had opposed disclosure of its ITRs The Central Information Commission (CIC) has directed the Income Tax (I-T) department to disclose within three weeks income tax returns (ITRs) of Naveen Patnaik-led Biju...

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Nivedita Shankar 07 January 2014
Gold investment schemes are completely unregulated. In this scenario, the lingering question is what if the company or jeweler goes into liquidation? Will the investors’ money ever be returned? The spurt of gold investment schemes has grabbed the attention of many. The gold investment...

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Moneylife Digital Team 07 January 2014
Yellen, described by Obama as the country’s most respected economists, is expected to be sworn in on 1st February as head of US Fed The US Senate has confirmed appointment of Janet Yellen as the head of the Federal Reserve, making her the first woman to lead the world’s most powerful...

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The arrivals of Air Asia and Tata-Singapore Airlines could make air travel affordable, especially to tier-II cities In the next few months, Air Asia India is expected to commence its airline operations with five aircrafts. As a budget airline, though it has not yet finally announced the...

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Morgan Stanley Mutual Fund’s exit says a lot about India’s regulatory regime, as much as about the fund companies Given the fanfare that marked the Morgan Stanley India Growth Fund’s arrival in India, in January 1994, its decision to throw in the towel exactly 20 years later, by selling...

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An improved code forces banks to be more careful about technology-related frauds on their customers, for which banks are unaccountable now The year promises to begin on a better note for bank customers. A report in the Economic Times (ET) says that the revised code of services by the...

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Moneylife Digital Team 06 January 2014
It is debateable as to how much of the rupee depreciation gains on margins are likely to be retained by companies going forward, says Nomura Nomura analysts are positive on the demand outlook for FY15F in the IT services sector in India. While top IT companies are big exporters,...

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Vishrut Patel 06 January 2014
Bitcoins are not illegal even if it is a highly volatile and risky in nature but it may be misused for illegal trading activities, says Bitcoin Alliance The Bitcoin Alliance India (BAI), a community of Bitcoin entrepreneurs, has agreed that Bitcoins is risky and speculative but has urged...

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Moneylife Digital Team 06 January 2014
According to Nomura, demand has slowed down quite substantially post a relatively strong festival season, however, margins for automakers would hold on due to recent price hikes December auto sales were below expectations, especially for commercial vehicles (CVs), while the decline in...

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Moneylife Digital Team 06 January 2014
While rejected petitions filed by AUSPI and COAI, the High Court permitted CAG to conduct audit of private telecom companies under the TRAI Act The Delhi High Court on Monday held that the Comptroller and Auditor General of India (CAG) can audit accounts of private telecom operators...

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We have some idea now what happens when stimulus programs are instituted. But what we don’t know and will soon find out is what happens when these programs are ended. No doubt the predictions will be very wrong again In the story entitled Silver Blaze, the great detective Sherlock Holmes...

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The strategic move by the MoEF should be applauded and hopefully, a number of pending cases of UMPPs will now progress In a strategic move, which has been long overdue, the Ministry of Environment and Forests (MoEF) has decided that the UMPP (ultra mega power projects) will no longer be...

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Moneylife Digital Team 06 January 2014
The Reserve Bank of India (RBI) has cautioned users, holders and traders of virtual currencies (VC) like Bitcoin, Litecoin, BBQcoin and Dogecoin and is examining the legal and regulatory framework of VCs. In a press release, RBI stated that Bitcoin and other VCs are exposed to potential...

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Moneylife Digital Team 06 January 2014
Gross Capital Formation (GCF) declined sharply 8.7% in FY12 after growing by 23.2% in FY11 and 38.3% in FY10 Uncertain global and domestic environment dragged investment down by 8.7% in FY12. Tight monetary policy resulted in escalating lending rates discouraging industrial activity....

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Moneylife Digital Team 04 January 2014
Arvind Kejriwal has asked Delhi government officials to look for smaller accommodation for him as CM Facing criticism, especially over social media, Delhi Chief Minister Arvind Kejriwal on Saturday said that he will not take up the two five-bedroom duplex flats allotted to...

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Moneylife Digital Team 03 January 2014
BG Srinivas and UB Pravin Rao in their new role as president at Infosys will focus on global markets, delivery and service innovation Infosys Ltd on Friday appointed BG Srinivas and UB Pravin Rao as the presidents of the company with immediate effect. Both the presidents will report to...

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Moneylife Digital Team 03 January 2014
The upcoming general elections sees Credit Suisse optimistic on Indian cyclicals and believes that there are factors that support for an upward movement in HCL Technologies, Wipro, Tata Motors, Reliance, Sesa Sterlite and Cairn Energy Credit Suisse is overweight on India, with the...

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Moneylife Digital Team 03 January 2014
RBI allowed Karur Vysya Bank to increase FII investment limit to 40 % from 35% Private sector lender Karur Vyasa Bank (KVB) has been allowed by the Reserve Bank of India’s (RBI) to increase investment limit to 40% from 35% for foreign institutional investors (FIIs).   However RBI...

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