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Key Developments

Technology upgradation for textiles sector, Cabinet clears easier labour laws

The Union Cabinet has approved a set of reforms, including simplified labour laws and technology upgradation for the made-ups sector...

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Engineering

L&T bags Rs 3,799 cr construction order from railways

The project is located at the northern end of Western Corridor and links the Eastern and Western Corridors...

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Industry News

Hit by demonetization, India Inc disappointed as RBI keeps rates unchanged

The RBI has kept short-term lending rate unchanged even as the central bank lowered GDP growth rate to 7.1 per cent and short-term disruption in economic activities due to demonetization...

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Energy Sector

Petrol, diesel prices to jump 5-8%

Opec's decision to cut production from January 2017 may lead to a 5%-8% spike in retail prices of fuel over the next three-four months...

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Small Business

Getting India back on the path of innovation - NR Narayana Murthy

The middle and upper middle classes are seceding from the government like there is no tomorrow...

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10 startups shut down in the second quarter of 2016

Lack of funds, plunging sales and rising competition are one of the major reasons for the shutdowns. 2016 was deadly mainly for food startups...

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M&A/Fund Raising/Business

Cairn India to invest Rs 30k cr in three years

Cairn India, a subsidiary of NRI metals-to-mining tycoon Anil Agarwal, will invest Rs 30,000 crore in the next three years to pump up volumes by 100,000 barrels per day of oil and gas from its Rajasthan fields...

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Tata Steel's Speciality Steel biz sale for a value of GBP 100 million

Last month, Tata Steel UK Holdings Ltd (TSUKH, a wholly- owned subsidiary of Tata Steel UK, announced that it had signed a letter of intent with Liberty House to enter into exclusive negotiations on the potential sale of its Specialty Steel business for an enterprise value of GBP 100 million...

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KKR-Canada Pension emerge as strong contender to take over Bharti Infratel

The attempt to give Bharti, India's largest telecom operator, more financial flexibility to combat deep pocket rivals like Reliance Jio Infocomm, due for commercial next year, and Vodafone...

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Paytm CEO raises Rs 325 crore for payments bank

After selling his stake to an undisclosed shareholder, Paytm founder and CEO Vijay Shekhar Sharma now owns 20.33 percent in One97...

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Retail Sector

Patanjali to target 1 lakh crore production by 2020

"Patanjali has been registering 100 percent growth for the last four years and this year too we have been growing at the same pace. Our target is to take our inhouse production to Rs 50,000 crore in the next two-three years and ulmately reach the target of Rs one lakh crore by 2020," Ramdev said...

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India to overtake US as world's largest e-commerce market: Study

The report said the e-commerce market is expected to grow exponentially with emerging markets leading the charge -- part...

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Discounts on e-commerce sites being given by sellers: DIPP

As per DIPP guidelines, e-commerce marketplace players cannot directly or indirectly influence the sale price of goods o...

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Fashion and Jewellery

Jewellers claim 85-90% dip in domestic business, exports unaffected

The situation is almost the same for jewellers across the country, whose businesses have come to a standstill since Nove...

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Nandan Nilekani, Rohini Nilekani shop for 2% stake in Fabindia

Nilekanis purchased the stake in Fabindia Overseas Pvt Ltd through Entrust, their family office, for about Rs 100 crore...

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Economy

Message to Modi government from cash crunch: Don't waste the budget, make India feel good again

The short-term verdict in sector after sector and in the macro economy is not cheery. Growth, demand, investment, confidence are all down...

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Scope for further monetary easing on softer inflation, says Fitch ratings

Thereport titled '2017 Outlook: Emerging Asia Sovereigns' says that India's growth outlook remains strong on the back of infrastructure spending...

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Delegalising notes will have positive implications, says former RBI Guv D Subbarao

The Indian government's decision to delegalise high denomination currency notes may hurt growth in short-term, but in the medium- to long-term it will have positive macroeconomic implications, says former RBI Governor D Subbarao...

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Banking & Finance

Tax authorities seize more than Rs. 130 cr in cash, jewels

To crack down on tax evaders post-demonetisation, tax authorities have investigated over 400 cases and seized more than Rs. 130 crore in cash and jewellery...

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PSU banks write off Rs 1.54 lakh crore bad loans between April 2013 and June 2016

The amount increased further to Rs 49,018 crore in the following year. Banks wrote off NPAs of Rs 56,012 crore during 2015-16...

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Effect of demonetisation: Money supply growth suspected to decline by 3%

The average growth of money supply in the economy may slip to 9 per cent from 12 per cent in the near term...

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Infrastructure

Gantry-based tolling for eastern expressway on Delhi border

Government plans to install advanced gantry-based tolling systems which will do away with the need for toll booths...

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NCR Transport Corporation approves Delhi-Ghaziabad-Meerut Rapid Rail Transit System (RRTS) corridor

Board of NCR Transport Corporation has approved the long-awaited 92 km Delhi-Ghaziabad-Meerut rapid rail corridor...

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Germany offers India to develop high speed rail, smart cities

"Germany's economy and exports are on a good path. We need to strengthen our business abroad," said Uwe Backmeyer...

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Agriculture

West Bengal government to pay rice farmers by directly transferring amount in the bank accounts

The government hopes to start the process in all 330 blocks of the state from December 10...

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External

BRICS nations pledges to share tax information automatically

The two day meeting of BRICS also resolved to support other developing nations in increasing their tax administrations' capacity...

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India, China will help maintain Asia's growth rate in 2017, says Asian Development Bank

"Asia is expected to maintain 5.7 per cent growth in 2016 and 2017, buoyed by resilience in the region's largest economies...

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