Chandauli/Allahabad/Deoria, Feb 6 (ANI): High-voltage drama continues in Uttar Pradesh, with contesting parties flexing their political muscle in various campaigns ahead of the polls.
MUMBAI (Reuters) - Some relaxation in limits on net open foreign exchange positions has been given to a few banks, H.R. Khan, a deputy governor at the Reserve Bank of India (RBI), said on Monday. Banks have to approach the RBI for seeking the relaxation, he said. The sharp fall in the rupee against the dollar last year prompted the RBI to impose restrictions on speculative trading by reducing the net overnight open position limit of banks. ...
NEW DELHI (Reuters) - Norway's Telenor will continue to fight, and is exploring all options, including legal, after the Supreme Court ordered cancellation of telecoms licences issued in 2008, including 22 held by its Indian joint venture. Telenor has been "unfairly harmed" by the cancellation, but is not running away, Sigve Brekke, head of the Norwegian company's Asian operations, told reporters in New Delhi. (Reporting by Devidutta Tripathy)
MUMBAI (Reuters) - Piramal Healthcare will not have cash left in its balance sheet after it buys a 5.5 percent stake in Vodafone's India unit, Ajay Piramal, chairman of Piramal Healthcare Ltd , told reporters on Monday. Piramal Healthcare would buy the stake in Vodafone India for about $616 million, taking its total stake in the mobile company to about 11 percent, it said over the weekend. Vodafone will continue to hold 64 percent in its India unit, Piramal said. (Reporting by Kaustubh Kulkarni)
Sydney, Feb 6(ANI): Matthew Wade's impressive performance against India in the first One-Day international is putting more pressure on the out of form wicketkeeper Brad Haddin.
Sydney, Feb 6(ANI): In form swing bowler Ben Hilfenhaus will replace injured Brett Lee in the Australian One-Day squad for the ongoing Commonwealth Bank series.
LAHORE, Pakistan (Reuters) - A three-story factory collapsed on Monday in the Pakistani city of Lahore after a gas explosion, killing at least three people and trapping dozens, emergency officials said. "The factory has completely collapsed and two houses next to it as well," an emergency official at the site told Reuters by telephone, adding authorities were having trouble getting heavy rescue machinery to the area because of narrow streets. ...
TOKYO (Reuters) - Asian shares rose on Monday as surprisingly robust U.S. jobs data bolstered investor risk appetite, overshadowing worries about a lack of progress in Greek debt restructuring talks that are vital to containing the euro zone crisis. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent after climbing as much as 0.7 percent earlier to its highest in more than five months. The index recorded a fifth successive weekly gain last week. Japan's Nikkei average rose to a three-month high just shy of 9,000 and was last up 1.1 percent at 8,925. ...
MUMBAI (Reuters) - The rupee reversed early gains on Monday weighed by a weak euro and an impending decision on Greek debt deal, which offset the positive push offered by gains in local shares following a strong U.S. non-farm payroll data. The rupee is expected to track the euro closely for the day, with the Greek bailout deadline just hours away. At 11:05 a.m. (0535 GMT), the rupee was at 48.69/70 to the dollar after opening at 48.60, its highest since September 21. It closed at 48.6850/6950 on Friday. "The rupee should remain in a range due to mixed factors of lower euro and positive stocks. ...
(Reuters) - General Motors aims to raise its profit margin to 10 percent over the next several years, up from the current margin of about 6 percent, Daniel Ammann, chief financial officer, told the Wall Street Journal in an interview. If GM could achieve its target of 10 percent margin, then it may generate up to $15 billion in profits and record net income in excess of $10 billion, based on the level of revenue GM had last year. That revenue is estimated at close to $150 billion, the newspaper said. GM confirmed the income calculations, the Journal said. ...
The Planning Commission's working group on Women's Agency and Empowerment have suggested that all assets acquired by a married couple or a couple living together should be classified as joint property and should be divided equally in the event of separation or desertion. The panel asserted that a woman needs to be recognized as an equal partner in a marriage, and her contribution to the household must be valued. Is this a fair law whose time has come?
Panaji, Feb 6 (IANS) West Bengal Chief Minister Mamata Banerjee may be opposed to special economic zones (SEZ) as well as foreign investment in civil aviation and retail, but her party Trinamool Congress now wants to carve out a "financial district" in faraway Goa.
SINGAPORE (Reuters) - India's Mangalore Refinery & Petrochemical Ltd (MRPL) sold its first spot petrol cargo in about eight months to Vitol, at a time of tight supplies, traders said on Monday. It also sold a naphtha cargo at a premium of about $34 a tonne, setting a new eight-month high on strong fundamentals. (Reporting by Seng Li Peng; Editing by Michael Urquhart)
NEW DELHI (Reuters) - There is no clamor for an early general election in India, but the latest blow dealt to Prime Minister Manmohan Singh over a massive corruption scandal raises the risk that his wounded government could fall well before its mandate runs out in 2014. Singh is unlikely to quit following last week's Supreme Court order for 122 telecoms licenses to be revoked, a deeply embarrassing ruling that accused the government of "virtually gifting away an important national asset at throwaway prices. ...
LOS ANGELES (Reuters) - General Motors scored with an Armageddon-proof Chevy truck while a Clint Eastwood pep talk for America won notice for rival Chrysler during the high-stakes brand battle at Sunday's Super Bowl. Other commercials from companies such as Anheuser-Busch and Coca-Cola repeated old themes or failed to stand out during American TV's most valuable advertising time, according to industry experts and online comments. Companies that spent $3. ...
Islamabad, Feb 6 (IANS) Pakistan and India have fought four wars on the Kashmir issue but can't afford any more in "this 21st century", Prime Minister Yousuf Raza Gilani has said while calling for resolving issues through dialogue, diplomacy, prudent policy and national consensus.
Telecom sits on the top of the incredible India story. But the mess, evident in the award of second generation (2G) licences, shows how at least six principal characters worked overtime to deface it. To borrow from the cricketing cliche, and but for the Supreme Court (SC), this team of public functionaries snatched defeat from the jaws of global telecom sweepstakes.
London, Feb 6 (ANI): British Prime Minister David Cameron is facing intense pressure to slash the 280 million pounds aid the UK gives to India after it emerged that the country said it no longer wanted the money, describing it as 'peanuts'.
Canberra, Feb 6 (ANI): The Australian police has announced a 100,000 dollar reward for information about the death of an Indian national in New South Wales, two years ago.
Washington, Feb 6 (IANS) The Indian Supreme Court's decision to cancel 122 controversial mobile phone licenses has opened up a new round of scepticism about India as a destination for foreign investment, according to Time magazine.
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