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HindustanTimes Mon,28 Jul 2014

Business

IMF cuts global growth outlook; India avoids ratings downgrade

The International Monetary Fund on Thursday chopped its 2014 forecast for global economic growth to take into account weakness early in the year in the United States and China, the world's two biggest economies.

Facebook now valued more than AT&T, Coke

Facebook's $190 billion market value makes it bigger than such bellwethers as Coca-Cola and AT&T. It's not a member of the Dow industrials, but if it were, it would be larger than two-thirds of that index's 30 members.

No decision on FDI in supermarkets: trade minister

The new government has not decided its stance on a policy in place to allow foreign direct investment in supermarkets, trade minister Nirmala Sitharaman told lawmakers in a written reply in Parliament on Friday.

Banks not allowed to trade in bonds for infra lending: RBI

Banks will not be allowed to trade bonds issued by other lenders for infrastructure lending that would be exempted from mandatory reserve requirements under the guidelines issued last week, said RBI deputy governor R Gandhi.

Does new global financial info-share regime leave India high and dry?

The new international framework of automatic exchange of tax information released by the Organisation for Economic Cooperation and Development (OECD) on Monday seems to have a lot of loopholes as far as India is concerned.

India threatens to derail WTO deal, puts food security rider; US angry

India blocked an agreement on new global customs rules on Thursday, angering fellow members of the World Trade Organization who say Delhi's veto could be costly, economically and politically.

Rupee down 5 paise against dollar in early trade

The rupee fell marginally by five paise to 60.17 against the US dollar in early trade on Friday at the Interbank Foreign Exchange due to appreciation of the American currency overseas amid lower opening in the domestic equity market.

Sensex, Nifty fall from life-time highs; 1st drop in nine days

The BSE benchmark Sensex was down 0.77% and the broader Nifty fell 0.79% after both indexes hit record highs in earlier in the session on Friday.

Wipro shares tank 8.5%, Q1 earnings lag estimates

Shares of IT services major Wipro plunged as much as 8.5% in morning trade on Friday after the company's June quarter earnings missed expectations. Wipro's scrip tumbled 8.46% to Rs. 528 on the BSE.

Wipro net profit rises 30% in Q1, but lags estimates

India’s third-largest IT services company, Wipro, on Thursday reported a 30% year-on-year rise in net profit to Rs. 2,100 crore during the April-June quarter but fell slightly short of analysts’ estimates of Rs. 2,124 crore.

Govt to go ahead with Rs. 18,000-cr ONGC stake sale in reforms push

Setting aside the objections raised by the state-owned Oil and Natural gas Corp (ONGC) on government’s plans to disinvest 5% of its stake in the company, the finance ministry has decided to go ahead with a stake sale in the country’s largest profit-making public sector undertaking.

Alstom faces UK bribery charge for India project

Following months of investigations that included interaction with India’s Central Bureau of Investigation, Britain’s Serious Fraud Office (SFO) on Thursday initiated criminal proceedings against Alstom Network UK Ltd on charges of bribery.

Rs 36,000 cr worth of power projects stuck for coal

Power projects worth around Rs. 36,150 crore and a generation capacity of 7,230 MW are stranded due to coal shortage, Piyush Goyal, minister for coal, power and renewable energy, said in the Lok Sabha on Thursday.

Single Window: Microsoft to unite OS for all platforms

Microsoft is doing away with multiple operating softwares for its multiple devices. Now, there will be be just one Windows for all platforms — phone, PC, tablet and even Xbox.

Retro tax knot tough to untie: FM

Finance minister Arun Jaitley on Thursday said blamed the UPA government’s adversarial tax policies for hurting India’s image as an investment destination.
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