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Fed presses forward with bond buying, cites uptick in inflation
Published on Thursday, July 31, 2014 12:05 AM

By Michael Flaherty

WASHINGTON - The Federal Reserve on Wednesday pressed ahead with its plan to wind down its bond-buying stimulus and upgraded its assessment of the U.S. economy, while reaffirming it is in no rush to raise interest rates.

The central bank cut its monthly asset purchases to ...

Fed presses forward with bond buying, cites uptick in inflation
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Tata to invest $35 bln over 3 years, focus on new businesses
Published on Wednesday, July 30, 2014 6:21 PM

MUMBAI  - Tata group will invest about $35 billion over the next three years to focus on new business areas such as infrastructure, defence and aerospace, as well as expanding its global footprint.

The salt-to-software group has operations in more than 100 countries and combined revenue of $103 billion a ...

Tata to invest $35 bln over 3 years, focus on new businesses
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Bank of India Q1 net down 16% at Rs 805.69 Cr
Published on Wednesday, July 30, 2014 6:18 PM

State-controlled lender Bank of India on Wednesday reported a decline of 16.43 per cent in its standalone net profit at Rs 805.69 crore for the first quarter ended June 30, 2014, weighed down by decline in asset quality and higher provisions. “The bank had posted the standalone net profit of Rs 964.18 crore in the corresponding period a ...

Bank of India Q1 net down 16% at Rs 805.69 Cr
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Vedanta Aluminium gets village's nod to expand refinery
Published on Wednesday, July 30, 2014 5:19 PM

By Jatindra Dash

BHUBANESWAR India  - Vedanta Aluminium, controlled by billionaire Anil Agarwal, moved closer to raising its alumina refining capacity by six fold from 1 million tonnes per year (tpy) after villagers near the plant voiced no objection to the expansion.

Most of the nearly ...

Vedanta Aluminium gets village's nod to expand refinery
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Air India staff found smuggling gold
Published on Wednesday, July 30, 2014 5:29 PM

NEW DELHI  - Authorities have found 13 cases of gold smuggling by employees of the national carrier, Air India, over the past three years and the current year, the junior civil aviation minister said on Wednesday.

India, the biggest buyer of gold after China, last year imposed a record 10 percent import ...

Air India staff found smuggling gold
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RBI switches to multiple-pricing in weekly debt sale
Published on Wednesday, July 30, 2014 4:24 PM

MUMBAI  - The Reserve Bank of India's (RBI) decision to sell $2.3 billion in government debt through the unpopular 'multiple pricing' method could push yields higher when trading resumes on Wednesday after a holiday, dealers said.

The RBI also unexpectedly announced it would sell 90 billion o ...

RBI      switches to multiple-pricing in weekly debt sale
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ITC shares gain after earnings; valuations seen enticing
Published on Wednesday, July 30, 2014 2:33 PM

 Market Eye - ITC  shares gain around 1 percent a day after reporting better-than-expected April-June profit, with traders saying valuations are especially attractive.

The stock trading at 26.4 times 12-month forward earnings compared to an average of 36 times for domestic fast consumer goods makers ...

ITC shares gain after earnings; valuations seen enticing
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Lupin expects India sales to grow 18-20 pct in fiscal 2015; net profit jumps
Published on Wednesday, July 30, 2014 3:25 PM

By Zeba Siddiqui

MUMBAI  - Drugmaker Lupin Ltd  expects its local business to grow between 18 and 20 percent this fiscal year, its chief executive said, after higher sales in the domestic market helped it post a 56 percent jump in quarterly net profit.

India, which made up nearly a ...

Lupin expects India sales to grow 18-20 pct in fiscal 2015; net profit jumps
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Vedanta first-quarter core earnings rise marginally
Published on Wednesday, July 30, 2014 1:16 PM

 Diversified miner Vedanta Resources Plc  ground out a marginal increase in quarterly core earnings as its oil and gas and aluminium businesses offset a decline in its zinc and Zambian copper businesses.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to $1.04 billion for the quarter ended ...

Vedanta first-quarter core earnings rise marginally
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