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Inflation gallops to 42-month high of 7.57 per cent

by Agencies May 2, 2008 Business

Inflation galloped to 42-month high of 7.57 per cent for the week ended on 19th April as compared to 7.33 per cent a week ago mainly on account of higher prices of food articles.

Food articles like rice, milk, tea, vegetables and some manufactured products whose soaring prices are also the reason for rising inflation.
The wholesale [...]

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Caparo to build body structure of Tata Nano

by Agencies February 8, 2008 Business

The body structure of the new Rs.one lakh Tata Nano car will be built by NRI industrialist Lord Swraj Paul-owned Caparo Group at a new facility in Singur.
Selected inner structural panels will be pressed and assembled by Caparo at a new facility in Singur, adjacent to the Tata Nano manufacturing plant in West [...]

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Exxon, Chevron Post Record Profits

by AP February 3, 2008 Business

Suppose Exxon Mobil decided to return the favor and buy you a tank of gas. Then again, why stop there? The oil giant turned a profit last year fat enough to buy a fill-up for every car, truck and SUV in America – four times.
Beating its own record to rack up the largest annual corporate [...]

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Govt relaxes FDI norms; opens commodity exchanges, MROs

by Agencies January 30, 2008 Business

Government today liberalised the foreign direct investment policy, opening new areas like commodity exchanges, credit information and aircraft maintenance for overseas investors while enhancing the ceiling in public sector oil refineries.
While putting a number of areas on automatic route, particularly in the civil aviation sector, the amended policy allows 100 per cent FDI in [...]

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Sensex down by 84 pts on weak global cues

by Agencies January 30, 2008 Business

The BSE benchmark Sensex fell by 84 points at 10.30 am as weakness in Asian indices weighed on the local bourses.
The Bombay Stock Exchange barometer moved in a narrow range of 18,129.18 and 17,964.03 on alternate bouts of buying and selling ahead of the expiry of January contract on Thursday.
It was later [...]

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European leaders call for financial market transparency

by Dipankar De Sarkar January 29, 2008 Business

Following up swiftly on last week’s economic discussions at Davos, Europe’s most powerful leaders have urged financial institutions to improve their transparency in order to avoid repeated global financial turmoil.
If they failed to do so, the leaders warned Tuesday that they would not hesitate to impose regulation and tagged it with a call for the [...]

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Mittal, Ambani brothers, Premji among world’s 10 richest

by Indo-Asian News Service January 29, 2008 Business

Four Indians, led by steel tycoon Lakshmi N. Mittal and the Ambani brothers of the two rival Reliance groups, have been named by the Forbes magazine in its latest list of 10 wealthiest chief executives in the world.
Mittal is ranked second by the magazine, after legendary investor Warren Buffet, while Mukeah and Anil Ambani rank [...]

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Indian equities open on positive note

by Indo-Asian News Service January 29, 2008 Business

Indian equities opened on a positive note Tuesday after a moderate decline a day before, as expectations rose from the quarterly review of India’s monetary policy by the central bank later in the day.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened the day at 18,346.49 points compared with the previous day’s [...]

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Gold hits new record at Rs. 11,840 per 10 gm

by Agencies January 28, 2008 Business

Gold pries surged to a record high at Rs 11,840 per 10 gram owing to brisk buying by major market players, who were enthused by firming global trend, and some investors’ shifting focus from melting stock markets to the bullion mart.
The market remained in bullish mood with gold remaining on record-setting spree as investors [...]

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