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HindustanTimes Sat,23 Aug 2014

Business

Gold slides on sluggish demand amid global sell-off

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.

Sebi to empanel agencies for sale of attached assets

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.

Centre considering proposal to merge hydro power units

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.

Struggling SpiceJet hit by pilot exodus

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

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

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.

FDI jumps 34% to $1.92 billion in June

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.

Struggling SpiceJet hit by pilot exodus

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

Diesel prices will soon be market linked: 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.

RBI surplus falls 14.75% in FY14; transfers entire sum to govt

The Reserve Bank on Thursday said its surplus (profit) for the FY'14 fiscal declined 14.75% to Rs. 52,679 crore as its interest income from investments in foreign sovereign bonds declined during the year even as its investments increased.

Policy moves key to 5.5% growth in 2014-15: RBI

Greater political stability, commitment to fiscal consolidation, strengthening of the monetary policy framework and supportive implementation of policy measures have raised prospects of a turnaround in the economy, the Reserve Bank India said in its latest report.

Indian economy to grow 5.8% in 2014/15: Finance secretary Mayaram

India's economy is on course to grow by around 5.8% in the fiscal year to March 2015, the finance ministry's top official said on Thursday, expressing confidence that 'green shoots' of recovery were taking hold.

Wipro opens new centre in US for global customer care

IT services major Wipro on Thursday said it has launched a global Customer Experience Centre (CEC) at its Mountain View office in California.

Indian firms tool up for defence orders on Modi's 'Buy India' pledge

Some of India's biggest companies are pouring billions of dollars into manufacturing guns, ships and tanks for the country's military, buoyed by the new government's commitment to upgrade its armed forces using domestic factories.

Bill for defunct SIM: Reliance to pay Rs. 25,000

Reliance Communications Ltd has been asked by a consumer forum here to give a compensation of Rs. 25,000 to a man for issuing a mobile bill for a non-functional SIM.

Rupee snaps three-day gains on broad dollar rally post Fed minutes

The rupee declined by 13 paise to 60.74 against the US dollar in early trade on Thursday due to appreciation of the American unit against other currencies overseas.
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