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Finance

FM for plugging regulatory gaps in financial sector

Amid outcry over Ponzi schemes causing huge losses to common people, Finance Min P Chidambaram has said there are regulatory gaps and efforts are being made to frame a new law to oversee financial sector. “The present arrangements have a number of gap areas, where no regulators are unambiguously in-charge, such as issue of regulatory […]

Markets

No need for nervousness, FM assures stock markets

Finance Min P Chidambaram sought to assuage the stock market, after it declined by over 350 points, by asserting that there was no need for any nervousness. Chidambaram said the participants should read the situation correctly rather than be influenced by external developments. “…there is no need for any kind of nervousness. I am looking […]

Business

SEBI, CCI seek clarity on Jet-Etihad deal; may suggest changes

Abu Dhabi carrier Etihad’s Rs 2,058-crore stake purchase in Jet Airways has hit a regulatory air pocket, as regulators are seeking more clarity on the deal to ensure overall competition in the aviation market is not affected and interests of public shareholders and consumers are protected. Separate clarifications have been sought on the deal, which […]

Stock & Share

Sensex plunges below 20K; down 364 points at mid-session

The BSE benchmark Sensex on Thursday slumped below the 20,000-mark during mid-session by losing a whopping 364 points, on sustained selling triggered by weakness in other Asian bourses. The 30-share index started the day on a bearish note at 19,971.37 and nosedived by 364.80 points to 19,697.40 at 1230hrs, with all the sectoral indices, led […]

Stock & Share

Sensex at fresh 1-week low; down 49 pts as L&T slumps 6%

Sliding for the third day, the BSE benchmark Sensex on Wednesday fell by 49 points to close at a fresh one-week low, dragged down by a 6 per cent slump in L&T after its quarterly results failed to meet market expectations. After a better start at 20,220.35, the 30-share index fell by 49.37 points, or […]

Business

‘Hot jobs reign with good salaries even amidst challenged industries’

New Delhi : Kelly Services, India’s leading staffing firm released its annual Indian Salary Guide 2013-14, a valuable guide from Kelly Services toward workforce solution. It gives a detailed summary of the jobs/skills in demand in India along with the right salary benchmarking in each sector. 2013 in India has shown more green shoots than […]

Business

Govt further cuts import tariff value of gold

In the wake of falling global prices of precious metals, the govt further slashed the import tariff value of gold to USD 440 per ten grams, while it has been kept unchanged at USD 761 per kg for silver imports. Tariff value is the base price on which the customs duty is determined to prevent […]

Business

Competition Comm looking into Jet-Etihad deal

Fair trade regulator Competition Commission is examining the over Rs 2,000-crore deal between leading carrier Jet Airways and Abu Dhabi-based Etihad Airways. The Competition Commission of India (CCI) has received an application seeking approval for the proposed Jet-Etihad transaction. “We are looking into the deal,” a senior CCI official said on Wednesday. Forging a strategic […]

Business

OVL net up 44 pc to Rs 3,929 cr

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, has reported an over 44 percent jump in net profit for 2012-13 fiscal on the back of higher gas production. Net profit in 2012-13 at Rs 3,929 crore was 44.4 percent higher than Rs 2,721 crore in the previous fiscal, the company […]