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July 30, 2010
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SEBI amends MF regulations
Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has amended four mutual fund (MF) regulations and omitted one schedule to bring greater transparency in the fee structure and improve turn-around time for customer service processes. |
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India, UK to double trade in 5 years: PM
New Delhi: Prime Minister, Dr Manmohan Singh, said India and the UK are to work towards doubling bilateral trade in five years. At a meeting with the visiting British Prime Minister, David Cameron, the two countries also decided to constitute an India-UK Infrastructure Group to strengthen cooperation. |
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Corporates raise $1.79 b via ECBs
Mumbai: Indian corporates borrowed US$ 1.79 billion through external commercial borrowings (ECBs) from the overseas market in June 2010, as per data released by the Reserve Bank of India (RBI). |
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IT, BPO to create 30m jobs by 2020: Nasscom
Chennai: The National Association of Software and Service Companies (NASSCOM) estimates that the information technology (IT) and business process outsourcing (BPO) sector will provide direct employment to 10 million and indirect employment to 20 million by 2020. |
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Ashok Leyland buys 26% in UK-based bus maker
Chennai: Ashok Leyland has picked up a 26 per cent stake in Optare, a UK-based bus manufacturer. The long-term strategic co-operation will involve an investment of US$ 7.5 million. |
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Griffon Hoverwork to sell hovercraft to Coast Guard
New Delhi: Griffon Hoverwork has won a contract to sell hovercraft to the Indian coastguard for an estimated Rs 247.33 crore (US$ 53.21 million). In addition, six more UK firms have announced multi-million pound deals in India. |
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M&M unit investing Rs 750 cr in solar power units
Hyderabad: The Cleantech division of the diversified Mahindra and Mahindra (M&M) Group plans to install a 50 mega watt (MW) of solar power generation capacity across five states for an outlay of Rs 750 crore (US$ 161.4 million). |
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