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June 27, Monday 2016 12:35 AM       
       HEADLINES: Gulbarga Ragging: Charity organisation to take care of Aswathy’s treatment, edn                                              Anju appointed national executive member of ‘Khelo India’                                              Kerala jawan also among killed in Jammu                                              Mukesh missing complaint: Action against SI likely                                              Attempt being made to hijack Sree Narayana Guru: Pinarayi                                              Sisodia, over 60 MLAs detained on their way to RCR                                              India needs USD 1.5 trillion for infrastructure: Jaitley                                              NSG likely to meet again to discuss entry of non-NPT countries                                              Petition for 2nd Brexit referendum in UK crosses 3-mn mark                                              Iraq forces take full control of Fallujah                                              Minister among 11 killed in Somalia hotel attack                                              Anas qualifies for Rio Olympics men's 400m race                                              Atanu Das selected for Rio Olympics                                              Vijender is an amateur, not in my league: Kerry                                              Kaumudi Facebook
       BUSINESS  
         Decision on increasing EPFO investment in ETFs on July 7    
 
 
HYDERABAD: Union Labour Minister Bandaru Dattatreya has indicated that retirement fund body EPFO's investments in Exchange Traded Funds (ETFs) would be increased and a decision would be taken at the Central Board of Trustees meeting on July 7.

 
         Gold to zoom to Rs 33,500 levels by 2016-end: Experts    
 
 
MUMBAI: Gaining from safe haven buying post the Brexit referendum, gold prices are likely to remain firm and touch Rs 33,500 by the year-end due to factors like US elections, ongoing geopolitical tensions and volatility in currency markets, experts said. "Post-Brexit, there is uncertainty that will be positive for gold. By December 2016, we expect gold to reach around Rs 33,500," Commtrendz Research Director Gnanasekar Thiagarajan told PTI.

 
         Inadequate production spikes prices of pulses: CEA    
 
PATNA: Chief Economic Advisor Arvind Subramanian today said under-cultivation of pulses and their inadequate production have led to spike in prices, but vegetable prices have more to do with market forces than production. Besides, there has been a shift in dietary habit in which pulses have become core of food habits among the Indian people, but there was inadequate production to meet the demand, Subramanian told an international conference here.

 
         Sky is the limit for investments in India: Jaitley    
 
 
BEIJING: Sky is the limit for investments in India and its economic growth is sustainable because it has a lot of distance to cover, Finance Minister Arun Jaitley said today.

 
         Brexit may make UK real estate cheaper for Indian buyers    
 
 
NEW DELHI: Indian investors may look at acquiring properties in UK, including in London, following devaluation of pound and fall in real estate prices due to Britain's exit from European Union, property consultants said today.

 
         India to rework FTA with EU after Brexit: Com Secy    
 
 
NEW DELHI: With Britain deciding to exit from the European Union, India will have to rework the proposed free trade agreement with the single-currency bloc, a top government official has said. "My interest will get changed because number of tariff lines (products) will change (now). I will calibrate and the EU will also calibrate. Now they would reassess and we will also be going to reassess," Commerce Secretary Rita Teaotia told PTI.

 
         Brexit knocks off Rs 1.8-trn from Indian stock mkt wealth    
 
MUMBAI: Investors' wealth in stock market took a hit of nearly Rs 1.8 lakh crore today as Dalal Street felt the heat of Brexit with the benchmark Sensex plunging over 600 points -- its worst performance in over four months.

 
         Gold hits 26-mth high of Rs 30,885 on Brexit, weak rupee    
 
NEW DELHI: Gold prices zoomed to 26-month high of Rs 30,885 per ten gram today in the biggest single-day gain of Rs 1,215 since August 2013 as Britain voted to exit the European Union leading to bloodbath in global equity and currency markets. It was gold's highest closing level of Rs 30,730 after April 28, 2014 in the bullion market here.

 
         Led by OVL, India oil cos mull buying stake in Rosneft    
 
 
NEW DELHI: Indian oil firms led by ONGC Videsh Ltd are mulling buying a part of the USD 11 billion stake that Russia is selling in its biggest oil firm Rosneft, Petroleum Minister Dharmendra Pradhan said today. Russia is looking at selling 19.5 per cent of state oil champion Rosneft OJSC, preferably to India and China.

 
         Taxmen told to step up efforts for black money window success    
 
 
NEW DELHI: Income Tax Department has asked its officers to make "all out efforts" to attract potential declarants under the domestic black money window by assuring them of confidential and hassle-free disclosures. In order to give wide publicity, the CBDT has also suggested putting up posters about the Income Declaration Scheme-2016, at places frequented by frequented by potential declarants, like club houses, posh markets, showrooms of high end products.

 
         No bumpy ride for startups as govt okays Rs 10,000 cr corpus    
 
 
NEW DELHI: The government today approved Rs 10,000 crore 'Fund of Funds for Startups' to support them with an aim to generate employment for 18 lakh persons.

 
         SpiceJet offers rock-bottom fares, flyers' body writes to DGCA    
 
 
GUGAON: Hotting up the low-fares war among airlines, SpiceJet today rolled out a new scheme offering base costs as low as Rs 444 on some destinations on its domestic network with a select booking period and limited number of seats.

 
         More reforms via DBT in the offing: Fin Sec    
 
 
NEW DELHI: The government is looking at ways to improve expenditure management for judicious utilisation of resources while continuing with the pace of public spending to keep the economy moving, Finance Secretary Ashok Lavasa said on Monday. More reforms via direct transfer of benefits (DBT) to intended beneficiaries are in the offing and the ministries have been asked to examine recommendations made by the Expenditure Management Commission, he said.

 
         Half of top 500 cos face refinance risk this year: Report    
 
MUMBAI: Nearly half of the top 500 corporate borrowers are exposed to significant risks of refinancing Rs 1.4 trillion debt this year, warns a report. "As many as 240 of the largest 500 corporate borrowers, contributing Rs 11.8 trillion to the total debt of Rs 28.1 trillion corporate loans, are exposed to significant risks of refinancing worth Rs 1.4 trillion debt this year," India Ratings said in a report today.

 
         Cameron invokes India in anti-Brexit debate    
 
 
LONDON: British Prime Minister David Cameron has invoked increasing trade with India as part of his plea to the public to vote to remain in the EU in Thursday's crucial referendum, saying the UK could do more with the country but cutting off from the main market would be "economic madness".

 
         Rajan's successor soon, no panel to look for new RBI chief    
 
NEW DELHI: The government will announce the successor of outgoing RBI Governor Raghuram Rajan well in advance and there won't be any search panel to look for the new chief of the central bank, an official source said. "It (announcement of new Governor) will happen reasonably in advance. We don't want unnecessary speculation," said a top government source, adding that "the process of selection is already on".

 
         Sensex zooms as FDI reforms, easing Brexit fears counter Rexit    
 
HARARE: Seamer Barinder Sran made his first outing in a T20 International memorable as he returned the best figures by an Indian debutant in this format to help the visitors restrict Zimbabwe to a paltry 99 for nine in the second match here today.

 
         No target of 10 cr tax base: Govt    
 
 
NEW DELHI: In the wake of confusion over whether Prime Minister Narendra Modi had set a target of doubling the income tax base to 10 crore, government today came out with a statement correcting an earlier press release and saying no specific target has been prescribed.

 
         McDonald's may shift some jobs to India in cost-cutting move    
 
NEW YORK: Fast food giant McDonald's may be planning to outsource jobs to India as part of a USD 500 million cost reduction plan it announced last November, a media report said. A report in the New York Post said McDonald's is shedding jobs as part of a USD 500 million cost reduction spearheaded by Chief Executive Steve Easterbrook.

 
         Microsoft acquires messaging start-up founded by Indian    
 
 
NEW YORK: Technology giant Microsoft has acquired a messaging-app developer founded by an Indian as the US-based software firm aims to strengthen its position in the emerging era of combining the power of human language with advanced machine intelligence.

 
         Sensex recovers 100 pts on narrowing CAD, global cues    
 
MUMBAI: Market benchmark Sensex rebounded by 100 points to finish at 26,625.91 on gains in FMCG, auto and realty stocks, driven by a lower current account deficit and trade gap coupled with revival in global cues. For the week, the BSE Sensex shed 9.84 points while the NSE Nifty moved up by 0.15 points. HDFC Ltd surged 2.21 per cent to Rs 1,227.80 after HDFC Standard Life Insurance said it had agreed with Max Financial Services and subsidiary Max Life Insurance to open merger talks. Max Finan

 
         Gold hits Rs 30,000-mark on global cues, jewellers buying    
 
 
NEW DELHI: Gold prices surged by Rs 580 today to trade above the Rs 30,000-mark at Rs 30,250 per 10 gram, its highest level in over five weeks at the bullion market, largely in tandem with firming global trend. Furthermore, increased buying by jewellers at the domestic market too supported the upside in the yellow metal.

 
         Sahara auction: Sebi adds 16 new parcels; bid price Rs 1.2k cr    
 
 
NEW DELHI: Markets regulator Sebi today added 16 more land parcels of Sahara group, with a reserve price of Rs 1,245 crore, to the list of properties to be auctioned next month for recovery of funds. This has taken the total number of properties of the beleaguered group to be auctioned to 42 with a combined reserve price of Rs 4,345 crore.

 
         Women board seats in S&P 500 not on path to parity: Report    
 
 
NEW DELHI: Notwithstanding the calls to diversify corporate boards, men held 80.1 per cent of S&P 500 board seats, while women only held 19.9 per cent, according to new data released today by Catalyst.

 
         Sensex rises 136 pts on positive Asian cues in early trade    
 
 
MUMBAI: Market benchmark BSE Sensex surged over 136 points in early trade today on fresh round of value buying by investors amid positive cues from other Asian markets. The 30-share index, which had lost almost 625 points in the previous four sessions, recovered by 136.19 points or 0.51 per cent at 26,531.90.

 
         WPI inflation at 0.79% in May, vegetable prices soar    
 
 
NEW DELHI: Rising for the second straight month, wholesale price-based inflation jumped to 0.79 per cent in May with vegetable prices witnessing a double-digit growth. The April WPI-based inflation was at 0.34 per cent and in March it was (-)0.45 per cent while it stood at (-)2.20 per cent in May last year. Food inflation rose to 7.88 per cent in May as against 4.23 per cent in April, showed a government data today.

 
         Apple opens up assistant Siri to outside applications    
 
 
SAN FRANCISCO: Apple said today it was opening up its Siri digital assistant to outside applications, stepping up its artificial intelligence efforts to compete against rival services from Amazon, Google and Microsoft. The new feature will enable iPhone users to connect with non-Apple services to send messages, make payments and search photos, for example.

 
         Sensex ends flat as Fed, Brexit risks loom    
 
 
MUMBAI: Equities fell for a fourth straight session as they ended marginally lower today as wholesale inflation hardened in May while the US Federal Reserve meet and Brexit referendum kept investors on sidelines. Bucking the trend, shares of PSU banks gained up to 8 per cent after Reserve Bank came out with a scheme for resolution of bad loans of large projects wherein a portion of the debt will be converted into equity or other instruments.

 
         Tata to acquire Welspun's renewable energy arm    
 
 
NEW DELHI: Tata Power today said it will buy Welspun Energy's subsidiary, Welspun Renewable Energy Pvt Ltd (WREPL), at an enterprise value of Rs 9,249 crore.

 
         Amazon, Filpkart, Snapdeal top 3 sites for sellers: Study    
 
 
MUMBAI: Amazon followed by Filpkart and Snapdeal were the most preferred e-commerce websites among sellers, with highest top of the mind recall, a recent study has revealed. The findings came as a result of a study by Nielsen for the January-March quarter, which surveyed 1,184 online sellers.

 
 
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