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INTERNATIONAL
Indian business gets mixed response in SA expo
Johannesburg: Indian businesses exhibiting at South Africa's largest annual consumer exposition, the Rand Easter Show, have had mixed results in terms of sales in the two weeks that the show has been running.
‘Japan too in the grip of economic slowdown’
Tokyo: Evidence mounted on Friday of Japan's economic slowdown with the release of figures showing slumping industrial production and prices and a stubbornly high jobless rate.
Interest cut can contain US recession, says IMF
Washington: The interest rate (IR) cut announced by the Federal Reserve would contain the threat of recession in the US economy, the International Monetary Fund (IMF) has forecasted.
NATIONAL
Satyam to increase ceiling on FII to 49 per cent
New Delhi: Indian software major Satyam Computers Ltd on Friday said it will increase the ceiling on Foreign Institutional Investment (FII) from 40 to 49 per cent in the firm.
Government to simplify Income Tax Act
New Delhi: The government is drawing up a new simplified Income Tax Act which will do away with as many exemptions as possible as part of the fiscal reforms, Revenue Secretary S Narayan said on Friday.
Arab nations defer Indian meat import temporarily
New Delhi: Egypt, Saudi Arabia and Kuwait have issued ministerial decrees temporarily suspending import of meat as a precautionary measure and will examine the Foot and Mouth Disease situation in India, according to India’s Minister of State for Agriculture Debendra Pradhan.
SEBI’s policy to affect the market adversely
Mumbai: Reacting to the Securities and Exchange Board of India (SEBI) group’s suggestions for abolition of carry forward mechanism from the stock market, share prices tumbled at the Bombay and National Stock Exchange (NSE) across the board, pulling down the major indices by over 4 per cent on Friday.
Maharashtra confident of renegotiating Enron
Mumbai: Nearly two days after the board of Enron Corporation empowered its Indian subsidiary to terminate a power purchase agreement with the Maharashtra State Electricity Board (MSEB), the state government is confident that the situation can be turned around.
NRI proposes 5 mhz of WiLL Spectrum across nation
Bangalore: NRI businessman C Sivasankaran has submitted a proposal to the government to take 5 mhz of WiLL spectrum across the nation for a fee of Rs 2,500 crores. By accepting this proposal, the government stands to gain Rs 10,000 crores by allocating the 20 mhz of WiLL spectrum for four nationwide licenses.
SA minister’s visit to boost Indian drug firms
New Delhi: South Africa's Health Minister Manto Tshabalala-Msimang arrives on Saturday on a visit that New Delhi feels could open up that country's huge market to Indian pharmaceutical companies.
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