News Updates
August 4, 2011
A brief news round-up from the past two weeks:
Cabinet approves draft of Lokpal Bill, Team Anna calls it ‘deceit on the nation’
Contrary to recommendations by civil society representatives headed by activist Anna Hazare, the government has kept the Prime Minister, the judiciary and the conduct of lawmakers inside Parliament out of the purview of the Lokpal
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Inflation a key concern for the government: FM
Finance Minister Pranab Mukherjee today cautioned that year-end inflation may not be less than 6-7% even as the government and the RBI are making sustained efforts to fight price rise.
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India regulator changes takeover code
India’s capital markets regulator has raised the threshold that triggers an open offer to 25% from 15% and enhanced the minimum offer size in steps, in an attempt to encourage mergers and acquisitions in one of the world’s fastest growing economies.
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Parliament set to wrestle reforms amid muted hopes
Parliament is poised to tackle thorny, though pivotal economic reforms when it reopens next week including bills to trim the tax burden on firms and fast track industrial projects, but political wrangling could strangle hopes for swift progress.
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India, Pakistan begin secretary level talks
The foreign secretaries of India and Pakistan sat down for talks to finalize the agenda for a meeting between the foreign ministers of the South Asian neighbors.
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Cairn India gets ‘Superbrand’ status
Cairn India, the firm that gave the country its largest on-land oil discovery in more than two decades, has been accorded the ‘Superbrand’ status.
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Overseas borrowings set to rise
Indian companies will increasingly look to borrow overseas in the next few months as money becomes dearer at home following the latest interest rate increase, the Reserve Bank of India reining in loan growth at commercial banks and the local currency strengthening.
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Ambani Bond Yield Drops by Record as Sale to BP done to Cut Debt: India Credit
Reliance Industries Limted’s bonds are posting their best monthly advance on speculation proceeds from selling stakes in oil and gas fields to Bharat Petroleum Plc which will help India’s biggest company by market value to cut debt and boost profits.
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