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Moody`s says ICICI has no sub-prime risk, S&P backs the bank! (12 October 05:18) |
| Battered by rumours casting doubts
about its financial health, ICICI Bank on Sunday received a shot
in the arm with global rating agencies Moody`s and S&P giving
it a thumbs up saying its ov... |
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Investors incur USD 20 bn loss in US-listed Indian cos! (12 October 05:18) |
| Indian stocks listed on American
bourses have witnessed a fall of USD 20 billion in their
valuation in just one week, with ICICI Bank and HDFC Bank
together incurring over USD eight billion ... |
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India ready to tackle any spillover effects of financial crisis: RBI! (12 October 05:18) |
| Taking note of implications of
the global financial turmoil in the international system, RBI
Governor D Subbarao has said India "stands prepared" to
counter any spillover effects of the cris... |
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FII sell-off hits USD 10 bn mark in 2008! (12 October 05:18) |
| Outflow of foreign capital from
Indian markets has crossed the USD 10-billion mark as the
markets continue their slide for the 10th straight month amid
the worsening global financial crisis.... |
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Must act fast or face solvency problems: India to IMF! (12 October 05:18) |
| India has asked the International
Monetary Fund to take the lead in resolving the financial
meltdown to steer off possible recession, saying any delay in
addressing liquidity concerns could ... |
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`Chrysler, GM have merger talks`! (12 October 05:18) |
| Chrysler LLC has had talks with General Motors Corp about a deal to combine the No 1 and No 3 American automakers at a time when both are struggling to cut costs and shore up cash, according... |
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G20 pledges joint action to fight financial crisis! (12 October 05:18) |
| The Group of 20 industrialised and developing countries called on Saturday for a joint response to the financial crisis that is snowballing into emerging markets. |
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IMF warns of financial meltdown, backs G7 plan to stabilise markets! (12 October 05:18) |
| The IMF warned on Saturday that the world`s financial system was near meltdown, while backing a Group of Seven plan to try to stabilise markets and urged "exceptional vigilance, co-ordinatio... |
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Finance leaders endorse G7 plan to calm markets ! (12 October 05:18) |
| Finance leaders from the International Monetary Fund`s 185 member countries on Saturday endorsed a plan by major economies to chart a course out of the credit crisis, hoping the broader supp... |
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Reliance Footprint inaugurates first store in Maharashtra! (12 October 05:21) |
| Reliance Footprint, a format of Reliance Retail, on Saturday launched its 10th store in the country and the first in Maharashtra at Thane near Mumbai. |
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50,000 industrial units to down shutters on Oct 22! (12 October 05:21) |
| About half a lakh industrial units, small, medium and large, in Coimbatore district would down their shutters on October 22, protesting against the
"frequent power cuts" and the increased ti... |
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Mamata and allies now seek industry and jobs at Singur! (12 October 05:21) |
| With Tata scrapping its Nano car
project at Singur, the farmers` land restoration movement
spearheaded by the Trinamool Congress (TMC) and SUCI is now
pushing the West Bengal government to g... |
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Fin crisis requires global action: Bush! (12 October 05:21) |
| Calling for co-ordinated action among developed nations to tackle the ongoing financial turmoil, US President George Bush on Saturday said one country`s action should not undermine or contra... |
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Bush meets G-7 Finance Ministers! (12 October 05:21) |
| US President George W Bush and
finance ministers from the Group of Seven rich countries
opened crisis talks on Saturday, looking for unity on a remedy to
the global financial crisis. |
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Developing countries worried about growth prospect! (12 October 05:21) |
| Developing countries have warned
that the deepening global financial crisis could dampen their
growth prospects and recommended a comprehensive international
response to prevent "the most di... |
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Europe to meet on financial rescue package! (12 October 05:21) |
| French President Nicolas Sarkozy and German Chancellor Angela Merkel
met on Saturday as European leaders moved towards a British-style
plan of partial bank nationalisation. |
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Gold nosedives after record highs on weak global cues! (12 October 05:21) |
| After breaching Rs 14,000-mark, gold prices on Saturday tumbled by Rs 540 to close at Rs 13,460 per 10 gram on the bullion market here as investors turned frantic sellers on weakening global... |
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FinMin asks DoT to speed up 3G auction process! (12 October 05:21) |
| The Finance Ministry has asked
the Department of Telecom to speed up 3G spectrum auction
process, so that operators can roll out services as early as
possible, and avoid introducing new clau... |
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Qwest reaches tentative agreement with union ! (12 October 05:21) |
| Qwest Communications International Inc. says it has reached a tentative agreement for a four-year contract with a union representing about 20,000 employees. |
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`Indian eco will keep performing well`! (11 October 10:18) |
| Dismissing fears of global financial contagion impacting India, the International
Monetary Fund has said that the country`s economy will
continue to perform well.
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`Fin cos may have to pay $600 bn as claims on Lehman`s debts`! (11 October 10:18) |
| Financial companies and investment
funds have to shell out up to 600 billion dollars in claims
for the insurance policies on Lehman Brothers` debts, which
may worsen the ongoing credit crisi... |
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India can weather financial storm: P Chidambaram! (11 October 10:18) |
| Finance Minister P Chidambaram
on Saturday expressed confidence that India can weather the storm of
financial crisis blowing across the world saying the country`s
economic fundamentals and t... |
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`Steps taken to address economic crisis`! (11 October 10:18) |
| India on Saturday said it was too early to figure out what would be the "adverse impact" of the US financial turmoil on its economy, but insisted that it had already put in place "appropriat... |
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Mexico auctions six bn dollars to fight peso`s fall! (11 October 05:23) |
| Mexico`s Central Bank said it
had auctioned six billion dollars on Friday, in two sales of three
billion dollars, in the latest move to support the tumbling
peso.
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Farmers` stake claim on Nano project land: Officials deny it! (11 October 05:23) |
| The land acquisition row seems to
chasing the Tatas` Nano car project even out of Singur as
farmers of villages near Sanand, the project`s new address,
have staked claim on the plot.
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Barclays to cut 3,000 jobs post Lehman deal: Report! (11 October 05:23) |
| UK banking major Barclays Plc is
likely to slash about 3,000 jobs following its purchase of
beleaguered Lehman Brothers` North American investment banking
and capital markets businesses, a m... |
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Indian banks` exposure to Lehman not significant: RBI! (11 October 05:23) |
| Most of Indian banks` exposures
are to those Lehman Brothers` subsidiaries which have not
filed for bankruptcy, the Reserve Bank has said.
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Bailout plan big enough: George Bush! (11 October 05:23) |
| Noting that a high level of
anxiety about the financial crisis was worsening the problem,
US President George W Bush On Friday said his government`s
"aggressive" rescue package will take tim... |
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Infosys not to raise bid price for Axon! (11 October 05:23) |
| Infosys on Friday appeared to pull out of the race to acquire UK-based Axon by categorically stating that it would not raise bid price of 600 pence a share for the SAP firm. |
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Japan to table emergency IMF loan scheme for emerging nations! (11 October 05:23) |
| Japan will propose creating a
scheme under the International Monetary Fund to offer
emergency loans to emerging nations, assisting their efforts
in dealing with the financial crisis, Finance... |
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HDFC Bank overtakes ICICI as most valued pvt sector bank! (11 October 05:23) |
| Battered under an onslaught of
rumours continuing for several weeks, ICICI Bank on Friday lost
out its place as the country`s most valued private sector bank
to HDFC Bank, as its share pric... |
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ICICI Bank blames `vested interests` for stock plunge! (11 October 05:23) |
| The country`s top private sector
lender ICICI Bank on Friday said its financial position remains
strong and "vested interests" were continuing to hammer down
its share price on the bourses.
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Reliance gas block has 40 Tcf gas reserves! (11 October 05:23) |
| Reliance Industries` prolific D6
block in Krishna Godavari basin off the east coast contains in-place reserves of 40 Trillion cubic feet, said the firm`s
junior partner Niko Resources. |
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Oil hits 12-month low, below USD 84! (10 October 05:49) |
| Oil prices fell to a new 12-month low below $84 on Friday, as a continued market slide stirred demand concerns and outweighed calls by some OPEC members to cut output to prop up prices. |
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Investor wealth plummets by Rs 36,50,000 crore in 9 months! (10 October 05:49) |
| The turmoil in the global markets has taken its toll on investors in domestic bourses which have suffered a loss of over Rs 36,50,000 crore in nine months since the benchmark Sensex scaled i... |
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Infosys Q2 net up 30% at Rs 1,432 cr! (10 October 05:49) |
| Software major Infosys Technologies
today announced a consolidated net profit of Rs 1,432 crore
for the second quarter ended on September 30, a 30.18 percent
growth over the corresponding pe... |
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RBI cuts CRR by additional 1% ! (10 October 05:49) |
| Taking swift action to inject about Rs 60,000 crore into the cash-strapped system, the Reserve Bank of India (RBI) on Friday announced additional one percent cut in mandatory requirements fo... |
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Dow industrials fall 678 points, below 9,000! (10 October 05:49) |
| Stocks plunged in the final hour of trading on Thursday, sending the Dow Jones industrial average down 678 points, or more than 7 percent, to its lowest level in five years after a major cre... |
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Rupee plunges to 49.07 against US dollar in early trade! (10 October 05:49) |
| The Indian rupee today fell to more
than six-year low of 49.07 against the US dollar at 0940 hrs
owing to deepening global financial crisis amid weak Asian
stock markets.
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Sensex recovers partially after RBI cuts CRR by additional 1%! (10 October 05:49) |
| After joining a global selloff on worries about impending recession in US & Europe, the BSE Sensex recovered partially after crashing by over 1000 points at open on Friday. The improvement i... |
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Asian markets plunge after huge Wall Street selloff ! (10 October 05:49) |
| A massive sell-off on Wall Street and an escalating global equity crisis sent Asian stocks plunging Friday, with Japan`s benchmark Nikkei 225 index tumbling more than 10 percent. |
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Oil prices drop despite news of emergency OPEC meet! (10 October 05:53) |
| Oil prices sank on Thursday as plunging
stock markets outweighed news that OPEC will hold an emergency
meet next month to discuss the impact of the chaos on world
markets. |
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Dollar may touch Rs 50 in two months, feel experts! (10 October 05:53) |
| Indian currency may lose further ground and dollar is likely to touch Rs 50 in the next two months in the wake of global financial crisis, say exporters and economists. |
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US can never regain its status in global market: Putin! (10 October 05:53) |
| Endorsing the views of the Russian Communist Party that the US is not a "trustworthy financial leader", Russian Prime Minister Vladimir Putin on Thursday said America, hit by a financial tur... |
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Bank bailouts: Cost of inaction far greater, says IMF official! (10 October 05:53) |
| US and European government bailouts of ailing banks may be unpopular with taxpayers but the cost of doing nothing would be far greater, a senior International Monetary Fund official said on ... |
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India 2nd most vulnerable economy: Citi! (10 October 05:53) |
| Global financial giant Citigroup has ranked India as the second most vulnerable Asian economy after Thailand, while terming dragon economy China as the most resilient to external uncertainti... |
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India becomes less competitive: WEF! (10 October 05:53) |
| India has dropped in its global
competitiveness ranking to the 50th place, while neighbouring
China has improved its ranking to the 30th spot in the latest
list compiled by the World Economi... |
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India Inc finalises $26 bn overseas mergers, acquisitions! (09 October 09:16) |
| India Inc has finalised overseas mergers and acquisitions (M&As) worth $26 billion till September-end this year, notwithstanding a sluggish domestic economy and the global meltdown, accordin... |
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Bank of Japan pumps record USD 40bn into market! (09 October 09:16) |
| The Bank of Japan injected a record 4 trillion yen ($39.8 billion) into the money markets Thursday amid escalating concerns over the global financial crisis. |
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M&M to launch green SUVs in the US by early 2009! (09 October 09:16) |
| Cashing in on the growing fad for green vehicles, Mahindra & Mahindra plans to launch its fuel-efficient SUVs in the United States by early 2009.
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