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Economy

GIC to acquire majority stake in Nirlon

Global investment firm GIC today said it will acquire 62.6 per cent stake in Mumbai-based Nirlon.

Economy

Suresh Prabhu's panel suggests opening up of coal sector, upgrading Coal India

Among various other suggestions, the group said the transmission constraints needed to be addressed

Corporate

Cipla bags Rs 1,100 cr order for HIV drugs from South Africa

Drug major Cipla's subsidiary has bagged an order worth 2 billion rand (around Rs 1,100 crore) for HIV drugs from the South African government.

Economy

Unkind cut: Govt forgets election promise, slashes healthcare spend 20% on funds strain

The government has ordered a cut of nearly 20 percent in its 2014/15 healthcare budget due to fiscal strains, putting at risk key disease control initiatives in a country whose public spending on health is already among the lowest in the world.

Money

RBI extends deadline to exchange pre-2005 notes by 6 months

The deadline for exchanging pre-2005 currency notes of various denominations, including Rs 500 and
Rs 1,000, has been extended by another six months till June, 30, 2015.

Corporate

Novartis-GSK pharma deal gets CCI nod

Fair trade regulator CCI has approved a multi-billion dollar deal between global pharma giants GlaxoSmithKline Plc (GSK) and Novartis, as it did not find the transaction to be anti-competitive in India.

Corporate

Fresenius Kabi files suit against Claris Lifesciences over anesthesia drug

Claris Lifesciences today said US-based Fresenius Kabi has filed a suit against the company to block commercialisation of its abbreviated new drug application (ANDA) for Propofol, used to induce or maintain anesthesia during surgeries.

Economy

RBI needs to cut rates by 1-2% to boost investment, says new Ficci chief

Blaming high interest rates for the companies holding back investments, leading industry body Ficci's new President Jyotsna Suri today said the RBI and the government need to shed their "confrontationist approach" and sit together to address the issue.

Economy

India added 82 lakh GSM users in November, says COAI

GSM mobile operators added 82.1 lakh users in November taking their overall subscriber base to 67.02 crore at the month end.

International

IMF: Low oil prices can raise 2015 global growth by 0.3-0.7%

Oil prices will remain low in the future which will help boost the global economy next year between 0.3 and 0.7 percent more than the 3.8 percent planned, two economists from the International Monetary Fund (IMF) have said in a report.

Money

April-November direct tax collection rises 5.7%

The government's direct tax collections during April-November of this fiscal rose 5.67 percent to Rs 3.29 lakh crore over the same period a year ago.

Economy

Cabinet to decide on base spectrum price by this month

Government is likely to take a call this month on the base price of spectrum to be auctioned in February next year.

Corporate

HCL Technologies Oct-Dec revenue may be impacted by dollar strength

Country's fourth largest software services firm HCL Technologies today said its revenues for the
October-December quarter might get adversely impacted due to strengthening of US dollar against various global currencies.

Economy

Sensex closes nearly 200 points down

A benchmark index of Indian equities markets came under heavy selling pressure and closed Tuesday's trade nearly 200 points down.

Economy

After GST bill, RBI rate cut remains, says FICCI

With the tabling of the Goods and Services Tax (GST) Bill in parliament, only a rate cut by the RBI remained for satisfying industry's demands, FICCI president Jyotsna Suri

Corporate

Hyderabad HC quashes money laundering case against Tech Mahindra

In a major relief to Tech Mahindra today, the High Court at Hyderabad quashed all money laundering cases filed by Enforcement Directorate (ED) against the infotech major.

Economy

PM Modi to hold review meeting for 'Make in India' stakeholders on 29 Dec

Prime Minister Narendra Modi will hold a meeting of several stakeholders on December 29 to chalk out a 'specific action plan' to implement the 'Make in India' programme, which aims at boosting manufacturing sectors.

Corporate

Oil ministry asks GAIL to pay royalty on RIL gas price

RIL and its partners BP plc of UK and Canada's Niko Resources would pay royalty on $4.2 per million British thermal unit as is being done presently, official sources said.

International

Global oil firms to cut investment spending by over 25% in 2015

Plunging oil prices will prompt energy companies to cut investments in new projects by 25 percent or more in 2015, analysts said over the past week, as firms try to stay cash-flow positive and keep debt in check.

Biztech

McAfee: Top trends that will dominate Indian IT security industry in 2015

McAfee predicts ransomware variants that manage to evade security software installed on a system will specifically target endpoints that subscribe to cloud-based storage solutions.