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<title>Finance News: India Business News</title>
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<description>Latest India Business News</description>
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<lastBuildDate>Wed Feb 10 11:10:30 2010</lastBuildDate>
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<title><![CDATA[BSE Sensex rises 0.6 pct; ICICI, Infosys lead]]></title>
<link>http://in.biz.yahoo.com/091207/137/baupmi.html</link>
<description><![CDATA[MUMBAI (Reuters) â€“ The BSE Sensex rose 0.6 percent in early trade on Wednesday, led by ICICI Bank and Infosys Technologies, after reports Europe was close to bailing out debt-strapped Greece pushed world equities higher.]]></description>
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<pubDate>Wed, 10 Feb 2010 04:10:28 GMT</pubDate>
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<title><![CDATA[Oil eases to above $73 on U.S. crude stockbuild]]></title>
<link>http://in.biz.yahoo.com/100210/137/bav205.html</link>
<description><![CDATA[SINGAPORE (Reuters) - Oil hovered above $73 a barrel on Wednesday, giving up some of the previous day's gains after data showed a large build in U.S. crude stocks, signalling persistently weak demand in the world's top energy consumer.]]></description>
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<pubDate>Wed, 10 Feb 2010 04:00:28 GMT</pubDate>
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<title><![CDATA[BSNL eyeing private placement-report]]></title>
<link>http://in.biz.yahoo.com/100210/137/bav202.html</link>
<description><![CDATA[MUMBAI (Reuters) â€“ The government is considering a proposal for a private placement of shares in state telecoms firm BSNL due to opposition from unions for an initial public offer or stake sale to a strategic investor, the Business Standard said.]]></description>
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<pubDate>Wed, 10 Feb 2010 03:50:27 GMT</pubDate>
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<title><![CDATA[BSE Sensex to open up; telcos, Sterlite watched]]></title>
<link>http://in.biz.yahoo.com/100210/137/bav201.html</link>
<description><![CDATA[MUMBAI (Reuters) â€“ The BSE Sensex should extend its rise to a fourth day on Wednesday as reports of an aid plan for debt-laden Greece calmed investors and triggered a rally in global markets.]]></description>
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<pubDate>Wed, 10 Feb 2010 03:40:27 GMT</pubDate>
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<title><![CDATA[BofA, Citigroup rating outlooks negative - S&P]]></title>
<link>http://in.biz.yahoo.com/100210/137/bav1zq.html</link>
<description><![CDATA[NEW YORK (Reuters) - Standard & Poor's on Tuesday revised its rating outlooks on Bank of America Corp and Citigroup Inc to negative from stable, citing uncertainty whether the government will provide more extraordinary support that benefits debt holders.]]></description>
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<pubDate>Wed, 10 Feb 2010 03:10:27 GMT</pubDate>
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<title><![CDATA[Haldia port's Rs 995 crore revival plan gets a late push ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1ya.html</link>
<description><![CDATA[Union shipping minister G K Vasan on Tuesday said urgent steps were being taken to increase the navigability of Haldia port. Pointing out that six dredgers were in operation at Haldia port to increase the depth of the channel, Vasan said apart from maintenance dredging, capital dredging is also required for improvement of depth in the Haldia channel for which the Kolkata Port Trust has undertaken a comprehensive scheme, called River Regulatory Measures(RRM), which comprises river training works and capital dredging at Balari, he said during an interactive session with the members of Bharat Chamber of Commerce. The revalidation ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:55:01 GMT</pubDate>
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<title><![CDATA[Centre could triple IT spend ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1y9.html</link>
<description><![CDATA[The government plans to spend a whopping Rs 10,000 crore, or 3% of its annual Plan budget, on e-governance projects in 2010-11. This would be more than three times the outlay for such projects in the current financial year. Stepping up expenditure on e-governance a major focus area for the government would prove a bonanza for IT companies that vie for large government contracts. Speaking on the sidelines of a Nasscom summit here, IT secretary R Chandrashekhar said e-governance projects under social sector programmes would be much bigger in the coming year, and this would take total expenditure on them ...]]></description>
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<pubDate>Tue, 09 Feb 2010 21:54:18 GMT</pubDate>
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<title><![CDATA[Govt backs down over Bt brinjal ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1y8.html</link>
<description><![CDATA[India s tryst with its first genetically modified (GM) food crop might have to wait a little longer as the government on Tuesday placed an indefinite moratorium on commercial release of Bt brinjal. It recommended further independent studies to ascertain the impact of the GM crop on human health. There is no clear consensus within the scientific community itself. Eminent scientists have raised serious questions that have not been answered satisfactorily. There is also strong opposition from the state governments and civil society organisations, minister for environment &amp; forests Jairam Ramesh said on Tuesday at a hurriedly called press conference that ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:53:49 GMT</pubDate>
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<title><![CDATA[Corporate Notes ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1y4.html</link>
<description><![CDATA[Goodyear cash tender offer to buy India arm shares With a view to delist Goodyear India Ltd (GIL) from the BSE, Goodyear Tire &amp; Rubber Company (GTRC) on Tuesday announced its intention to commence either directly, or through one or more of its wholly owned subsidiaries, a cash tender offer to acquire shares of GIL. GTRC has approved an indicative price of Rs 245 per share for the shares tendered pursuant to the delisting proposal, which represents a premium of 33% over the closing price of GIL at Rs 183.95 on February 5. L&amp;T bags orders L&amp;T said it has ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:52:04 GMT</pubDate>
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<title><![CDATA[Samsung eyes $3-billion India sales in 2010, overtake LG...]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1y3.html</link>
<description><![CDATA[Korean consumer durables major Samsung India Electronics is aiming to become the number one player in the consumer electronic industry in India overtaking the industry leader LG Electronics from the top slot as it aims over $3 billion (around Rs 14,000 crore) revenue in 2010. This will come on the back of company s target of doubling its air conditioner sales in the country this year. In 2009, Samsung had clocked sales of $2.2 billion (Rs 10,200 crore) in India and the company is expecting to grow by 40% in the ongoing calendar year. Last year, we had sales of over ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:51:43 GMT</pubDate>
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<title><![CDATA[Rel MediaWorks to move Sebi, RBI on Inox-Fame deal ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1y2.html</link>
<description><![CDATA[Terming it as a complex and serious matter, Reliance MediaWorks, the multiplex-arm of Reliance ADA Group will approach Sebi, company affairs ministry and the Reserve Bank of India (RBI) on the INOX-Fame deal that was announced last week. This comes after media reports that Reliance MediaWorks had written a letter to the promoters of Fame India a multiplex chain that was bought by INOX Leisure last week asking an explanation as to why Fame India sold 43.28% to INOX for Rs 44 a share when Reliance had made a firm offer to buy it for Rs 80 a share. A ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:51:20 GMT</pubDate>
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<title><![CDATA[Auto industry likely to cross 10-million unit mark in FY10, grow...]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1y1.html</link>
<description><![CDATA[The automobile industry is fast galloping to cross the 10 million unit mark. If average sales of the last 10 months are to be considered, then the total domestic industry will end the current financial year at 1,19,22,677 units, which will be a growth of 22.6% over 2008-09. While this is much higher than the earlier conservative growth estimates of 10% by the Society of Indian Automobile Manufacturers (Siam) at 1,06,95,730, as reported by FE, it will be record sales after two years. The previous record domestic sales happened in 2006-07 at 10.1 million units. This comes on the backdrop ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:50:58 GMT</pubDate>
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<title><![CDATA[ACC: waiting for the revival ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1y0.html</link>
<description><![CDATA[Results announced by ACC were largely below analyst estimates. And though the net profit for the quarter ended December 2009 rose 29%, analysts are perturbed by the fall in realisations and Ebitda per tonne of cement produced. According to analysts, realisations during the quarter fell 8.2% over the previous quarter, but rose 3.8% over the same period of the previous year. Aggregate volume was down 0.5%, over the year at 5.47 million tonne, however, volume increased 6.3% on a sequential basis. Ebitda per tonne was pegged at Rs 785, fell 39%, and while lower realisations, down by around Rs 315 ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:50:27 GMT</pubDate>
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<title><![CDATA[Reserve Bank eases norms for ECBs ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1xx.html</link>
<description><![CDATA[The Reserve Bank of India (RBI) on Tuesday eased the guidelines for external commercial borrowings (ECBs), allowing corporates to modify the drawdown and repayment schedules and switch currencies. Banks can allow companies to change the currency of the loan if they so want in the case of borrowings, both under the automatic and the approval routes, provided they meet all other terms and conditions, RBI said in a statement. Designated banks should, however, ensure that the proposed currency of borrowing is freely convertible, it added. The RBI also stated that such changes must not affect the average maturity of the ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:49:04 GMT</pubDate>
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<title><![CDATA[Himachal's biotech park fails to lure realty majors ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1xv.html</link>
<description><![CDATA[Big real estate developers seem to be shying away from the bidding process of Himachal Pradesh s first biotechnology park, proposed to come up at village Aduwal, near Nalagarh in Solan district. The department of environment, science and technology had invited Expressions of Interest (EoI) from developers on January 18. The last date for submitting the request for quotation (RFQ) is February 15. As per a senior official of the biotechnology department, enquiries are pouring in over phone and emails but not many letters have been received so far from major real estate players. We are waiting for the responses and ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:48:31 GMT</pubDate>
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<title><![CDATA[In Brief ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1xt.html</link>
<description><![CDATA[FCI to export 50k t wheat State-run Food Corporation of India (FCI) will export 50,000 tonne of wheat to Nepal, the government said in a statement on Tuesday. India, the world s second-biggest producer of wheat, banned exports of the grain in early 2007. It lifted the restriction for a few days in July 2009 before re-imposing it. Global coffee output may dip 3.6% in 2009-10: ICO Global coffee output may dip 3.6% to 74.13 lakh tonne in 2009-10 on fall in production in Brazil and Africa, the International Coffee Organisation (ICO) said. Adverse climatic conditions in few growing regions may ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:48:02 GMT</pubDate>
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<title><![CDATA[BJP, Cong endorse Jairam's decision ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1xr.html</link>
<description><![CDATA[Congress today said the Centre s decision to put on hold commercial cultivation of Bt Brinjal must have been taken after consulting all stakeholders and pointed out that the issue of public health is most important for any government. The government has taken a decision after consulting all the stakeholders the scientific community, the agriculturists and others. For any government, the health of the people is of paramount importance, party spokesman Shakeel Ahmed told reporters here. Asked whether the decision was good or bad, he said, The party cannot comment whether it is good or bad. It is for the government ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:47:41 GMT</pubDate>
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<title><![CDATA[Ramesh action could affect PPP research work in agriculture ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1xp.html</link>
<description><![CDATA[Environment minister Jairam Ramesh on Tuesday not only imposed an indefinite moratorium on commercial release of Bt brinjal but also expressed his strict opposition to private participation in country s biotechnological research in agriculture. The comments assume significant as it could impact joint research work being carried out through private and public partnership in agriculture across the country. Biotechnology in agriculture should rest with public sector research institutes, Ramesh told reporters. The seed company Maharashtra Hybrid Seeds Co (Mahyco) has developed Bt brinjal variety with technology assistance from US-based multinational Monsanto. Monsanto had given the technology free to Tamil Nadu Agriculture ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:47:11 GMT</pubDate>
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<title><![CDATA[Banking Notes ]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1xn.html</link>
<description><![CDATA[Central bank governors conference from Feb 12 Central bank governors of leading European countries, including Spain and France, will be participating in the two-day conference on financial crisis being hosted by RBI from February 12. The theme of the conference, Challenges to Central Banking in the Context of Financial Crisis, is of contemporary relevance, which sketches a broad canvas of issues emanating from the crisis that could redefine the role of central banks, RBI said in a statement. Bank of France governor Christian Noyer, his Spanish counterpart governor Miguel Fernandez Ordonez, Charles Bean of Bank of England, Stephen Cecchetti of ...]]></description>
<provider>Indian Express Finance</provider>
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<pubDate>Tue, 09 Feb 2010 21:46:40 GMT</pubDate>
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<title><![CDATA[PSBs look to infuse fresh blood to tide over retirement woes...]]></title>
<link>http://in.biz.yahoo.com/100209/50/bav1xm.html</link>
<description><![CDATA[The public sector banks (PSBs) have swung into action to deal with an unprecedented situation on human resource front with a number of senior positions falling vacant in the next couple of years. While waiting for the recommendations of the a top-level committee under the chairmanship of Bank of Baroda s ex-CMD AK Khandelwal, which has been constituted by the Centre to devise suitable strategies on HR-related issues, most of the banks are bringing into effect fast track promotions, recruiting specialised officers and opting for campus recruitment for filling up vacant positions. The committee kickstarted its consultative exercise on Friday last ...]]></description>
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<pubDate>Tue, 09 Feb 2010 21:46:04 GMT</pubDate>
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