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HindustanTimes Sat,23 Aug 2014

Business

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

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.

Trai relaxes time for resolution of billing complaints

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.

India's steel production grows by 1.7% in July

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.

Tata appoints James Shapiro resident director in North America

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.

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.
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