New Delhi: 18 May 2013, Expressing disappointment over S&P\'s rating action, the government on Friday said its fiscal policies are on the right track and there is nothing to be worried about. Standard & Poor\'s (S&P) has warned that it may downgrade India\'s sovereign rating to junk grade if the government fails to pursue reforms and check deterioration in fiscal and CAD. \"I dont think there is a great deal of concern that one should put on this. I think we are on right ...
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Mumbai: 18 May 2013, Leading stock exchange BSE has imposed restrictions on trading of 29 stocks for failing to convert at least half of the public shareholding into dematerialised format. The bourse would shift these scrips to the trade-to-trade segment or \'T\' group category with effect from May 23, 2013. According to a BSE notification, these firms have not achieved 50 percent public shareholding in dematerialised or demat form as per \"the shareholding pattern submitted by the ...
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18 May 2013, Continuing with the innovation, Google Inc has now launched a service through which users will be able to transfer money via e-mail. The facility will be made available to the users who link their bank accounts with Google wallet account. Gmail users will now be able to send cash in an e-mail attachment. Money will be sent just by entering the amount on the Gmail account. The users above 18 years of age can avail this facility. The new facility will make process of ...
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San Francisco:18 May 2013 Facebook and Twitter launched applications on Thursday for Google glasses as developers rushed to learn more about tailoring software for the Internet-linked eyewear yet to hit the market. \"Built by Facebook, this app allows you to upload photos from Google Glass directly to your Facebook timeline,\" Erick Tseng, head of mobile products at the social network, said in a message posted from the Google developers conference. \"You can also add an ...
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New Delhi: 18 May 2013, After two days of steep fall, gold prices recovered by Rs 10 to Rs 26,810 per 10 grams in the national capital on Friday on low level buying by retailers. However, silver held steady at Rs 43,700 per kg in restricted buying from industrial units and coin makers. Traders said scattered low level buying by retailers helped gold prices to trade marginally higher. Gold of 99.9 and 99.5 percent purity recovered by Rs 10 each to Rs 26,810 and Rs 26,610 per 10 ...
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18th May 2013,Chennai:-- Chennai airport is likely to be leased out to private players, according to AAI chairman V. P. Agarawal. As part of proposed privatisation efforts, the civil aviation ministry has instructed AAI to lease out Kolkata and Chennai airports to private players, he said here on Friday. Earlier, Union minister of state for civil aviation K.C. Venugopal, who inspected the new terminals, said the Chennai airport was a model for everyone and teething problems including ...
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18 May, 2013,HYDERABAD:-- Auditors of Canara Bank, India\'s fifth largest state-owned lender by assets, took objection to the management\'s decision to restructure loans of a particular borrower. The loan amounts to almost 20% of the bank\'s fresh restructuring of around Rs 18,110 crore in the March quarter. Fresh restructurings were primarily in the infrastructure portfolio of the Bank, spread across power and road sectors. With the auditors not accepting the restructuring in the ...
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May 18 2013,New Delhi:-- The empowered group of ministers (eGoM) on auctioning spectrum may meet next week to discuss the terms for the sale of airwaves that’s likely to take place before July, a senior Department of Telecommunications (DoT) official said. The official, who didn’t want to be named, also said that any changes to the reserve price or to rules that were in force for the November and March auctions will be made by the eGoM, headed by finance minister P. Chidambaram. He ...
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Mumbai May 18, 2013:-- Benchmark share indices gained for the fifth straight week, amid high volatility, led by rate sensitive shares after sharp decline in April WPI rekindled hopes of a steeper rate cut by the central bank. In the week ended May 17, the 30-share BSE Sensex firmed up 0.8% to end at 20,286 and the 50-share Nifty gained 1.3% to end at 6,187. According to market experts that the rally is fuelled by global liquidity. Since January, Foreign institutional investors were ...
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New Delhi,May 18, 2013 :-- Tata Teleservices (Maharashtra) Ltd (TTML) on Friday said its promoter Tata Sons has cancelled the offer to divest 2.72 per cent stake in the company that was aimed at meeting the minimum public shareholding norms. The firm had announced on Wednesday that Tata Sons will sell 51,623,679 shares representing 2.72 per cent of the equity capital of the company on May 17. In a filing to the BSE, TTML said: \"Tata Sons Limited has now informed BSE that they have ...
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May 18, 2013,Tokyo:- India and Japan on Friday agreed to further strengthen investment and trade ties by ensuring faster implementation of ongoing projects. Both the countries have agreed to support planned initiatives and projects in this year designed for strengthening business partnership to be organized by Japan External Trade Organization (JETRO) and New Energy and Industrial Technology Development Organization (NEDO), a joint statement by Indian Commerce and Industry Minister Anand ...
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18 May, 2013:-- Ex-finance minister Yashwant Sinha, chairman of the panel, said the ineffectiveness of the Chit Fund Act of 1982 had demonstrated its redundancy. NEW DELHI: The standing committee on finance has recommended the scrapping of the Chit Fund Act, 1982, in the wake of the collapse of the Saradha chit fund in West Bengal. The panel said it was obvious that the Act was ineffective in controlling chit funds and new act with more teeth was required. \"We heard from all ...
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NEW DELHI, May 17, 2013 German luxury car maker Mercedes Benz on Thursday launched GL-Class, a premium sports utility vehicle, priced at Rs.77.5 lakh (ex-showroom Delhi). “We are ambitious. The Mercedes brand has a lot of potential in India and the year 2013 is the year of offensive for us. The new GL-Class will further strengthen our dominance in the Luxury Large SUV segment,” Mercedes Benz India Managing Director and CEO Eberhard Kern said. The GL-Class was one among the slew ...
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SOR HIDLE, May 16, 2013 PTI World champion Viswanathan Anand outclassed Teimour Radjabov of Azerbaijan to jump to joint third spot after the seventh round of Norway chess 2013 super tournament, here. It turned out to be a good day in office for Anand as he won an important game with black pieces adding to the woes of Radjabov whose slide in the world ranking continued. The full point also took Anand to four points out of a possible seven. Karjakin accounted for Hikaru Nakamura ...
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NEW DELHI, MAY 15: Hero MotoCorp on Tuesday launched its range of two-wheelers in Guatemala City, El Salvador and Honduras, in partnership with Indy Motos Group of Guatemala which will sell the products to these markets. Indy Motos has been appointed as the authorised distributor of the company and the products will be distributed through a network of outlets spread across these countries, with more outlets to be added subsequently. “It is indicative of the significant role that ...
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NEW DELHI, MAY 15: India needs to bring down its gold demand from the current level of 1,000 tonnes a year to a level of 700 tonnes which prevailed only a few years ago, a top policymaker has said. In the last two fiscal years — 2011-12 and 2012-13, the country’s gold imports in quantitative terms stood at about 1,000 tonnes. In value terms, it was about $56 billion in 2011-12 and $54 billion in 2012-13. The demand for gold can be reduced by taming inflation and enhancing the ...
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NEW DELHI, MAY 14: Retail inflation fell for the second month in a row to 9.39 per cent in April on the back of easing vegetable and edible oil prices. The consumer price index (CPI)-based inflation for March stood at 10.39 per cent in March and 10.91 per cent in February. Vegetable basket prices eased to 5.45 per cent in April from 12.16 per cent in March. In urban areas, retail inflation declined in April to 9.73 per cent (10.38 per cent in March). The CPI for rural population ...
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MUMBAI, MAY 15: The rupee was trading at 54.82 in intra-day trade amid high dollar purchases from oil importers. The domestic unit opened weaker at 54.89 as the American unit strengthened against world\'s major currencies. It unit had closed at 54.82 on Tuesday. The dollar index was trading at 83.75 against a basket of world\'s major currencies at 12.30 p.m. local time. Also, the wide trade deficit data reported on Monday puts upward pressure on the already high current account ...
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CHENNAI, MAY 15:- Gold may get a bit of its shine on the spot and futures market as buyers find the drop in its prices tempting. But with more investors cashing out of gold products and the dollar tending to gain, prospects for the yellow metal are clouded. In early Asian trade, spot gold was up marginally at $1,426.69 in Singapore. Gold futures maturing in June were up a tad at $1,425.30. In the domestic market on Tuesday, gold for jewellery (99.5 per cent purity) was quoted at Rs ...
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The Reserve Bank of India (RBI), on Monday, imposed restrictions on banks to import gold with immediate effect to curb the widening current account deficit (CAD). “To moderate the demand for gold for domestic use, it has been decided to restrict the import of gold on consignment basis by banks, only to meet the genuine needs of exporters of gold jewellery,” RBI said in a notification. MUMBAI, May 14, 2013 The Working Group on Gold, under the chairmanship of K. U. B. Rao, had ...
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