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Reliance Power bags $1.3 bn project in Bangladesh
Published on Wednesday, May 4, 2016 12:59 PM

Anil Ambani-led Reliance Power has bagged a 750 MW natural gas-based project in Bangladesh, with a potential investment of around $1.3 billion, touted as the largest for the South Asian country.

"Under the approval, the first phase of 750 MW plant will be set up at Meghnaghat in Narayanganj district, some 40 km south-eas ...

Reliance Power bags $1.3 bn project in Bangladesh
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Sensex falls, poised for third day of decline
Published on Wednesday, May 4, 2016 12:26 PM

 Indian shares fell for a third straight session as disappointing quarterly earnings weighed, including by Adani Ports that slumped nearly 10 percent, while regional markets languished due to global growth and deflation worries.

Disappointing manufacturing surveys from China and the UK, combined with downgrades to growth ...

Sensex falls, poised for third day of decline
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Supreme Court says tobacco industry should follow stringent package warning rules
Published on Wednesday, May 4, 2016 11:50 AM

NEW DELHI - The Supreme Court on Wednesday told the tobacco industry to adhere to rules requiring stringent health warnings on cigarette packs, but ordered a state high court to hear all pleas challenging the same.

The tobacco industry "should not violate any rule prevailing as of today," the two-ju ...

Supreme Court says tobacco industry should follow stringent package warning rules
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India service industry growth cools slightly in April
Published on Wednesday, May 4, 2016 10:43 AM

 Growth in India's services industry slowed in April in line with a more modest rise in new business, a private survey showed on Wednesday.

The Nikkei/Markit Services Purchasing Managers' Index eased to 53.7 in April from 54.3, but chalked up its 10 straight month above the 50-level that separates growth from con ...

India service industry growth cools slightly in April
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Gupta's Liberty House formally bids for Tata Steel UK
Published on Wednesday, May 4, 2016 9:56 AM

Metals major Liberty House, founded by Indian-born industrialist Sanjeev Kumar Gupta, has formally submitted its bid for acquiring most of the UK assets of Tata Steel, that has suffered nearly $3 billion in losses thus far.

The company said it intended to buy all of Tata Steel UK's assets, excluding its long products divi ...

Gupta's Liberty House formally bids for Tata Steel UK
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Gold hovers below 15-month peak as dollar firms on U.S. rate talk
Published on Wednesday, May 4, 2016 9:51 AM

SINGAPORE  - Gold nursed losses on Wednesday, holding below a 15-month high as the dollar firmed after two Federal Reserve officials talked up U.S. interest rate hikes this year.

FUNDAMENTALS

* Spot gold  was little changed at $1,285.19 an ounce by 0033 GMT, after d ...

Gold hovers  below 15-month peak as  dollar firms on U.S. rate talk
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India to grow 7.5 percent in 2016-17: IMF
Published on Wednesday, May 4, 2016 9:51 AM

India remains the fastest-growing large economy in the world, with GDP expected to increase by 7.5 percent in 2016 and 2017, the International Monetary Fund (IMF) said on Monday.

"India has benefited from lower oil prices and remains the fastest-growing large economy in the world, with GDP expected to increase by 7.5 per ...

India to grow 7.5 percent in 2016-17: IMF
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Top 50 defaulters owe state-run banks Rs.1.2 lakh crore
Published on Wednesday, May 4, 2016 9:48 AM

The top 50 defaulters of public sector banks (PSBs) had exposure in excess of Rs 1.21 lakh crore as on December 2015, parliament was told on Tuesday.

"The total exposure of top 50 defaulters of PSBs as on December 2015 was Rs.1,21,832 crore," Minister of State for Finance Jayant Sinha said in a written reply to the ...

Top 50 defaulters owe state-run banks Rs.1.2 lakh crore
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Indian IT infrastructure to reach $1.9 bn in 2016: Gartner
Published on Wednesday, May 4, 2016 10:28 AM

Continuing IT infrastructure optimisation will propel Indian IT infrastructure market to reach $1.9 billion in 2016, said leading global IT research and advisory company Gartner.

"Indian enterprises will continue to focus on optimising their infrastructure and operations budgets in 2016," Gartner research director N ...

Indian IT infrastructure to reach $1.9 bn in 2016: Gartner
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