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HindustanTimes Fri,22 Aug 2014

Business

SpiceJet under I-T scanner for TDS violations

SpiceJet
Low cost airline SpiceJet is under the scanner of Income Tax department for suspected violations of TDS (tax deducted at source) and distribution of Form-16 to its employees, a top CBDT official said on Friday.

RBI to conduct frequent term repos for flexible cash management

SpiceJet
The Reserve Bank of India (RBI) said it would conduct more frequent term repos but retained the overall borrowing limit for lenders, in a bid to make borrowing more flexible without injecting additional liquidity into markets.

India to hike iron ore royalty, miners may struggle to pass on extra cost

worker collects
The cabinet has agreed to raise the royalty rates for iron ore and other minerals, a mining ministry official said, raising the cost for domestic miners, and potentially making imported ore more attractive.

Rupee hits three-week high; gains for third straight week

rupee
The rupee gained 15 paise to 60.52 against the US dollar in early trade at the Interbank Foreign Exchange market on Friday amid sustained overseas capital inflows.

India's steel production grows by 1.7% in July

Construction work
India's steel production growth rate was at par with the world average of 1.7%  in July, but it has to make big strides to bridge the first seven months' gap.

Gold slides on sluggish demand amid global sell-off

3
Gold continued its downtrend in the domestic bullion market in Mumbai on Friday due to reduced offtake from jewellery stockists and retailers induced by a sharp fall in overseas trade.

Centre considering proposal to merge hydro power units

A jolt for GVK's thermal-power plant at Goindwal Sahib.
The government is studying a proposal to merge all central hydro power companies and create a mega entity with a net worth of Rs. 47,000 crore and projects over 44,000 mega watts.

$8-bn opportunity in store for Indian telecom cos: report

Indian telecom sector
The growing internet usage in India is expected to help telecom companies in the country generate additional cumulative revenues of $8 billion over the next three years, according to a study by Google and AT Kearney released on Thursday.

Struggling SpiceJet hit by pilot exodus

SpiceJet
Loss-making budget carrier SpiceJet, whose auditors have raised red-flags over the company’s ‘going concern’ status, is now seeing an exodus of pilots. Over 60 pilots have quit and are serving the mandatory six-month notice period

Sensex up 111 points in early trade; Nifty touches new peak

Bombay stock exchange
The benchmark BSE Sensex rose over 111 points and the NSE Nifty soared to a new life-time high of 7,924.90 in early trade on Friday as IT, oil and gas, power and consumer durable stocks led the rally on sustained capital inflows.

Trai relaxes time for resolution of billing complaints

Say goodbye to pesky calls, SMSes
In a relief to telecom operators,sectoral regulator Trai has relaxed the time by two weeks for resolution of billing and charging complaints by consumers.

Tata appoints James Shapiro resident director in North America

TaTa logo
Prior to joining the Tata group, Shapiro worked at the BSE, first in Mumbai and later as an advisor based in New York, where his responsibilities included global business development and BSE's global partnership with Deutsche Boerse and S&P Dow Jones Indices, the company said.

Sebi to empanel agencies for sale of attached assets

SEBI
To help it recover penalties and investors' money from defaulters, Sebi has decided to empanel third-party agencies to work as receivers for management and sale of assets attached through its regulatory orders.

Struggling SpiceJet hit by pilot exodus

SpiceJet
Loss-making budget carrier SpiceJet, whose auditors have raised red-flags over the company’s ‘going concern’ status, is now seeing an exodus of pilots. Over 60 pilots have quit and are serving the mandatory six-month notice period

FDI jumps 34% to $1.92 billion in June

 Malcolm Glazer
Foreign direct investment flows to India surged by about 34% to $1.92 billion in June, according to the official data. In June 2013, the country had received FDI worth $1.44 billion.

Diesel prices will soon be market linked: Mayaram

Arvind Mayaram
The finance ministry on Thursday expressed hope that domestic diesel prices will soon become market linked in the backdrop of softening global crude oil rates.
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