ECONOMY & NATION


IANS 06 November 2015
The Greek parliament on Friday passed a second critical bill containing prior actions required by international lenders to unlock fresh bailout funding to the debt-laden country in coming weeks.   The draft bill included a new series of austerity measures such as an increase on the...

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IANS 06 November 2015
Prime Minister Narendra Modi on Friday said that the government has for the first time entered into a monetary framework with the Reserve Bank of India (RBI) to curb inflation.   "We embarked on a course of fiscal consolidation. We entered for the first time into a monetary framework...

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Moneylife Digital Team 06 November 2015
Pyramid and MLM schemes continue to defraud thousands, even in the US   The late Indira Gandhi, former prime minister, unable to—or uninterested in—controlling corruption, had famously said “corruption is a global phenomenon.” Indian politicians and regulators, unable to control...

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IANS 05 November 2015
Curtains came down on Thursday on the staggered five-phase assembly elections in Bihar that pitted Prime Minister Narendra Modi's BJP-led combine against the Grand Alliance of Chief Minister Nitish Kumar, with more than half of the 1.55 crore electorate turning out to vote in the final...

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IANS 05 November 2015
Virtusa will make an unconditional mandatory offer to the public shareholders of Polaris to purchase up to an additional 26% of its outstanding shares   US based Virtusa Corporation has decided to buy around 53 percent of shares of city based software services company Polaris...

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IANS 05 November 2015
Infrastructure projects such as roads and power were the first pre-requisite of development and new highways will give pace to Haryana's growth   Prime Minister Narendra Modi on Thursday said his government is working towards removing bottlenecks and simplifying procedures to speed up...

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IANS 05 November 2015
In a statement, the central bank said the penalty has been imposted for violation of RBI instructions, know-your-customer (KYC) norms and anti-money laundering (AML) standard   The Reserve Bank of India (RBI) on Thursday said it has imposed a monetary penalty of Rs.10 million on...

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IANS 05 November 2015
US-based technology major Microsoft on Thursday announced a string of partnerships, programmes and products claimed to help Indian organisations and governments to explore unchartered business areas and enrich customer and citizen experiences.   The newly launched local Microsoft...

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IANS 05 November 2015
As a sign of economic revival and increasing use of technology, online recruitment across India zoomed 60 percent in October, with manufacturing hiring most, a leading placement agency said in a report on Thursday.   "Our finding shows a 60 percent growth in online recruitment in...

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Moneylife Digital Team 05 November 2015
The Moily Committee, in its report said, SEBI needs to become more transparent, vigilant and accountable in their regulatory action, showing the same level of alacrity as in the case of Sahara while dealing with Ponzi companies   The Parliamentary Standing Committee on Finance while...

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IANS 05 November 2015
Reserve Bank of India Governor Raghuram Rajan said on Thursday that the government and the RBI have agreed on composition of the monetary policy committee (MPC) that will set the central bank's interest rates.   "MPC agreement has been largely done. Only fine-tuning is left. The...

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IANS 05 November 2015
The Indian government on Wednesday reacted sharply to a comment by Moody’s Analytics that Prime Minister Narendra Modi must check party members from making controversial statements, or risk losing global credibility.   "It is with regret the Government of India notes the irresponsible...

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IANS 05 November 2015
India's modest improvement in the World Bank's "Doing Business Index" this year, along with the Bank's projection that the economy will continue to experience merely moderate growth, were not the boosts that Indian officials hoped for. The Bank's assessment, however, highlights several...

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IANS 05 November 2015
Buoyed by its mobile-advertising efforts, the social networking site Facebook has posted 11.3 percent profit in its third quarter results - at $4.5 billion in revenue from $4.04 billion last quarter with a significant increase in the number of its active users.   Facebook's mobile...

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Moneylife Digital Team 04 November 2015
Since 2010, the number and amount of multi-state cooperatives have increased 100 times and now become some kind of a shelter for illegitimate funds for Ponzi schemes, the Moily Committee said in its report calling for better regulation    In a startling expose, the Parliamentary...

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IANS 04 November 2015
Industrialist Anil Ambani-led Reliance Infrastructure on Wednesday said it has decided to sell its 5.8-million-tonne cement business, while initiating the process to hive off the Rs.8,800-crore investment it has made in 11 road projects across seven states.   The steps, the company...

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Moneylife Digital Team 04 November 2015
If banks fail to attract buyers for these troubled companies within 18 months, they would face a large Market-To-Market hit on their debt-turned-equity holding, apart from a massive surge in stressed asset formation, says a Religare report    Over the past five months, banks have...

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Moneylife Digital Team 04 November 2015
Past restructuring packages for SEBs have failed, the 5% average tariff hike in FY15 is modest at best and low agriculture power supply is putting pressure on residential and industrial customers to pick up the revenue slack. An uphill task for SEB reform says Religare, based on a report by...

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IANS 04 November 2015
Nestle India on Wednesday said Maggi noodles has cleared the tests ordered by the Bombay High Court at three accredited laboratories and that the effort will now be on to re-launch the popular snack within this month.   "We have received the results from all the three NABL (National...

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IANS 03 November 2015
The CBI on Tuesday searched 10 locations in Delhi, Odisha, Assam and West Bengal against private company Tower Infotech Group in its ongoing probe in the multi-crore-rupee chit fund scam.   The places raided by the probe agency include one each in Delhi, Odisha and Assam, while the...

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