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HindustanTimes Sun,13 Jul 2014

Business

Gold extends gains on global cues; silver end steady

Continuing its rising streak for the fourth consecutive day, gold prices gained another Rs. 50 to trade at Rs. 28,730 per ten gram in the national capital on Saturday, taking positive cues from overseas markets amid persistent buying by stockists.

IIP signals economy on revival path, budget to help: India Inc

India Inc on Saturday said the sharp rise in industrial output in May is a sign the economy is on the road to recovery and expects the rebound to sustain on the back of policy measures unveiled in the maiden budget of the Narendra Modi-led government.

GST enters final leg; may stretch to 2016-17

One of India’s biggest tax reform initiatives, goods and services tax, has entered the final leg with most the contentious issues expected to be ironed out this year, but experts said its implementation schedule may still be pushed to the 2016-17.

L&T set to bag deal to build statue of unity

Bids for the project were opened on Friday and sources told HT that L&T emerged as the lowest bidder with a cost of Rs. 2,980 crore. The statue would be the tallest in the world and almost double the size of the Statue of Liberty in the US.

Modi leads team to BRICS summit

Business leaders are hoping that Prime Minister Narendra Modi’s presence in the BRICS summit in Brazil on July 14 and 15 will help boost India’s business opportunities in the other four countries.

Doubling of tax on debt mutual funds to hit retirees

On Thursday, finance minister Arun Jaitley gave investors and the mutual fund industry a jolt by increasing the long-term capital gains tax on debt mutual funds to 20% from 10%. The definition of long-term has also been changed to 36 months for non-equity MFs from 12 months.

UPA regime responsible for Nokia plant troubles: TN Govt

Tamil Nadu Government on Friday blamed previous UPA regime for the troubles faced by Nokia's Chennai plant which was kept out of Microsoft acquisition pact in the wake of Rs. 21,000 crore tax dues raised by the I-T Department.

IIP signals economy on revival path, Budget to help: India Inc

India Inc on Friday said the sharp rise in industrial output in May is a sign the economy is on the road to recovery and expects the rebound to sustain on the back of policy measures unveiled in the maiden budget of the Modi government.

Industrial production rises to 19-month high of 4.7% in May

India’s factory output grew by the 4.7% in May, the fastest in 19 months, rekindling hopes of an industrial rebound buoyed by a robust manufacturing sector, latest data released on Friday showed.

Boeing, Emirates finalise order for 150 airplanes worth $56 bn

Boeing and Emirates Airline have finalised an order for 150 777Xs airplanes for $56 billion at list prices.

After budget-eve euphoria, thelet-down: Sensex plunges 348 pts

The benchmark Sensex on Friday plunged 348 points, or 1.4% to end at 25,024.35, its biggest weekly loss since December 2011, due to continued profit-booking in stocks that had rallied prior to the Budget on expectations of big-bang announcements and debt concerns in Portugal.

Infosys Q1 net up 21.6%; attrition rate at 19.5%

India's second largest software exporter Infosys has beaten estimates to report a 13.3% rise in net revenue at Rs. 12,770 crore and 21.6% rise in net profit at Rs. 2,886 crore for the first quarter of 2014-15 on year-on-year basis.

Tata Sons says heard from NTT DoCoMo about sale option in Tata Tele

Tata Sons has received formal communication from Japan's NTT DoCoMo Inc about exercising its sale option in Tata Teleservices Ltd, a company spokeswoman said.

Retail inflation to have a low 7% handle in FY15: Barclays

Notwithstanding that the monsoon rains has remained below normal and concerns are building over a failed season, retail inflation is likely to have a low 7% handle in the current financial year, says a Barclays report.

Sensex, Nifty close at over 1-week lows ahead of general budget

A day ahead of general budget, the BSE Sensex on Wednesday closed lower by 137 points to over one-week low of 25,444.81 as investors turned cautious on fiscal numbers projected by the Economic Survey 2013-14.
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