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Rupee ends lower at 46.80/$: Reuters
The Indian rupee ended Tuesday slightly lower on importer demand, with persistent dollar sales by state-run banks limiting the decline, dealers said.
India's October car sales fall 21%: Reuters
Indian passenger car sales fell by 1.6 per cent in April-October 2000 to 342,922 units, down from 348,614 units in the same period of last year, the Society of Indian Automobile Manufacturers said on Tuesday.
Essar acquires bankrupt US telecom company
The Essar group has acquired a bankrupt US telecom company Telequestion Inc. The deal has been done through e-TeleQuest Incorporation, a new company floated by the Essar group in the US for this specific purpose.
Mori gloom, tech swoon rattle Asia markets: Reuters
Ailing Asian stock and currency markets suffered a double blow on Tuesday after more earnings alerts from the United States hit tech stocks and Japan's deeply unpopular prime minister survived a confidence vote.
Speed, political vim galvanise India privatisation: Reuters
India is injecting speed and political will into a decade-old push to privatise state-owned firms as it prepares to sell off some of the crown jewels of its public sector, analysts say.
Home IT spending to surge in India, study says
Spending by Indian households on information technology, particularly computer hardware, is set to surge 55 per cent in the current fiscal year, the International Data Corp said.
Hewlett-Packard sees Asia as star performer
Hewlett-Packard Co, which stunned Wall Street last week by missing its profit targets, said on Tuesday it expects the Asia-Pacific region to account for at least 20 per cent of its global sales within three years.
Bajaj Auto wants to boost Latin America sales
India's largest two and three-wheeler maker Bajaj Auto Ltd, facing sluggish sales at home, is planning to step up exports to Latin America which offers big growth opportunity, a senior company official said.
Gujarat Elec Board in Rs 5-bn bond issue: Reuters
India's Gujarat Electricity Board will issue secured non-convertible debentures to raise up to Rs 5 billion shortly, merchant bankers to the issue said on Tuesday.
Consolidation looms for Indian car industry: Reuters
India's car industry is likely to experience consolidation as the market cannot support the current large number of players, Indian ratings agency ICRA said.
IPCL's MCB closed due to minor fire
The vinyl polyvinyl chloride plant of Indian Petrochemical Corporation Limited on the outskirts of Baroda, was closed down following a minor fire reported from the unmanned electric sub-station called motor control board, IPCL sources said on Tuesday.
Wipro to set up IT centre in West Bengal
Information technology major, Wipro Limited, has confirmed that it would set up a software development facility in the state, West Bengal Chief Minister Buddhadev Bhattacharya said in Calcutta on Tuesday.
Indian Airlines has no plans to buy used planes: Yadav
Indian Airlines has no plans to acquire any second-hand aircraft from abroad, Civil Aviation Minister Sharad Yadav informed the Rajya Sabha on Tuesday.
IFC Invests in Internet-based India-based Remote Services Co
The International Finance Corporation is making an equity investment of $2 million to establish a remote services Internet marketplace in Madras through a company based in India and the United States - Spryance com. Inc.
Vijaya Bank to enter insurance business
Vijaya Bank has decided to foray into life insurance business, both life and non-life, primarily selling policies, the bank's chairman and managing director S Gopalakrishnan told reporters on Tuesday.
HC admits three PILs over Indo-Mauritian DTAC
The Delhi high court on Tuesday admitted for hearing a bunch of public interest litigations seeking revision of the 1983 Indo-Mauritian double taxation avoidance convention (DTAC) so that foreign institutional investors and non-resident Indians do not maraud the state resources.
Govt virtually rules out World Bank suggestion to split UTI
The government on Tuesday virtually turned down a suggestion by the World Bank to split Unit Trust of India into smaller entities.
Govt hikes import duty on edible oils
The government on Tuesday hiked the import duty on edible oils by up to a hefty 30 per cent to check flooding of imported cooking medium into the country.
Govt cuts LPG price by Rs 10, kerosene by Re 1
Keeping in line with the decision to partially rollback the hiked prices of petroleum products, the government on Tuesday announced reduction of around Re 1 per litre in kerosene and Rs 10 per cylinder of cooking gas.
ABCL yet to clear I-T dues of Rs 177.5 million
The government on Tuesday said that Amitabh Bachchan Corporation Limited had not cleared all its income tax dues even as all possible steps under the direct tax laws were being taken for recovery of the outstanding.
WIPO restores marutisuzuki.com domain name to Maruti, Suzuki
The World Intellectual Property Organisation has ruled that the domain name marutisuzuki.com should be transferred from an Indore-based company to Maruti Udyog Limited of India and Suzuki Motor Corporation of Japan.
Living Media to make news channel of Aaj Tak
The Living Media group is planning to spin off its daily news clip on Doordarshan, Aaj Tak, into a 24-hour news channel of its own. The channel is likely to go on air on December 15.
BA may accept payments in equity for A-I bid
British Airways, which has joined a consortium with top NRI businessman L N Mittal to bid for the stakes of Air-India, does not rule out getting paid back in equity terms for providing technical services to the business group if the deal with the Indian government for the national carrier is settled.
SC seeks profit and loss accounts of top six stock brokers
The Supreme Court on Tuesday asked for the profit and loss accounts of six top brokers in the Bombay Stock Exchange as the SEBI complained that they were not showing these to the regulator for determining registration fee.
VSNL to get licence for STD
The government would grant a licence to Videsh Sanchar Nigam to operate National Long Distance Communication (STD), along with other incentives, as part of compensation package for terminating VSNL's monopoly in International calls (ISD) in advance.
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