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August 29, Friday 2014 11:34 PM       
       HEADLINES: CI suspended for torturing student                                              CBI arrests Venjaramoodu CI                                              Child marriage on rise in Kerala: UNICEF                                              Prosecution’s nod not needed to register case against CM: Court                                              Yuva Morcha stages protest in front of Bevco outlets                                              Modi's 100 days: Has the 'acche din' hype hoomeranged?                                              I used the word Hindi not Hindu: Hepatullah                                              SC stays proceedings of panel probing judge's sexual harassment                                              RTI activist thought to be dead arrested                                              Pak political drama nears end after army chief intervenes                                              Islamic State release another beheading video                                              Pak Army steps in; govt, protesters return to talks                                              Shuttler Sindhu in Worlds semis, assured of bronze                                              Kaumudi Facebook
       BUSINESS  
         GDP up at 5.7% in Q1, trend likely to continue    
 
 
NEW DELHI: Improved performance of mining, manufacturing and services sector pushed India's economic growth rate to two-and-half year high of 5.7 per cent in the April-June quarter, a development which the Finance Ministry expects to continue for rest of the fiscal.

 
         New powers to fast-track prosecution, refunds: Sebi chief    
 
 
NEW DELHI: Armed with new powers to clamp down on illegal money-pooling schemes and other defaults, Sebi today said offenders can no longer ignore its orders and drag on the cases for years as the new law would fast-track action against them and ensure refund of money to investors.

 
         CBDT sets up high-level committee to decide retro tax cases    
 
NEW DELHI: The Central Board of Direct Taxes today set up a high-level committee to scrutinise all Income Tax cases arising out of the retrospective tax amendment.

 
         Records tumble as Sensex, Nifty hit at new highs on inflows    
 
MUMBAI: Riding high on capital inflows, the benchmark Sensex today rose 77.96 points to end at new peak of 26,638.11 and logged the seventh straight month of gains in August as investors cheered steps taken by the Modi government to bring the back the economy on high growth path.

 
         Ratan Tata invests in Snapdeal.com    
 
 
NEW DELHI: Ratan Tata, Tata Sons Chairman Emeritus, has invested in online marketplace Snapdeal.com. "Mr Tata has made a personal investment in the company," Snapdeal cofounder and CEO Kunal Bahl said. The investment amount, however, was not disclosed.

 
         Sensex,Nifty hit new peaks on Eurozone stimulus hopes, US data    
 
 
MUMBAI: Indian stocks rose for the fifth day with benchmark Sensex today vaulting 117.34 points to a new closing peak for the third session in a row on hopes of fresh stimulus in Eurozone and positive Asian cues after investors welcomed data indicating the US economy is back on track.

 
         Policy shift on anvil to promote air connectivity    
 
NEW DELHI: In a bid to promote air connectivity across the country, government has proposed a major shift in its route dispersal policy, promising airlines which fly to these regions exemption from various charges and other incentives.

 
         EPFO to pay 8.75 per cent interest on PF deposits in 2014-15    
 
 
NEW DELHI: Retirement fund body EPFO's trustees today decided to retain interest payment on provident fund deposits for 2014-15 at 8.75 per cent.

 
         SBI cuts home loan rate by up to 0.15 pc    
 
 
NEW DELHI: Country's largest bank SBI today slashed home loan rate by up to 0.15 per cent on housing loan, a move likely to be followed by other lenders.

 
         Volatile Sensex ekes out margin gain to end at new peak    
 
 
MUMBAI: In volatile trade, the benchmark Sensex today rose a marginal 6 points to log a new closing peak of 26,442.81, extending its winning run to the fourth straight session, on buying in healthcare and FMCG shares while battered metal stocks also witnessed a late recovery.

 
         Renault to launch two new vehicles next year in India    
 
 
KOCHI: Renault India will launch a Multi Purpose Vehicle (MPV) and a small car next year to increase its market share to 5 per cent in two years.

 
         Sensex, Nifty hit record high    
 
MUMBAI: A benchmark index of Indian equities markets hit a record high of 26,561.65 points Monday, surpassing its previous high of 26,530.67 points hit Aug 19. All the sectors were trading in green and good buying was observed in banking, healthcare and auto sectors.

 
         Ficci wants labour laws shifted to state list    
 
 
NEW DELHI: The Federation of Indian Chambers of Commerce and Industry (Ficci) Friday urged the government to shift labour laws from the concurrent to the state list with a view to attract more investment.

 
         Goldman in deal worth USD 1.2B over US bond claims    
 
WASHINGTON: Goldman Sachs has agreed to a settlement worth USD 1.2 billion to resolve claims that it misled US mortgage giants Fannie Mae and Freddie Mac about risky mortgage securities it sold them before the housing market collapsed in 2007.

 
         Undisclosed income of Rs 90,000-cr detected in 2013-14    
 
 
HYDERABAD: Undisclosed income to the tune of Rs 90,000 crore was detected during 2013-14 in various searches and surveys conducted by the Income Tax department, a top official from the Central Board of Direct Taxes (CBDT) said here today.

 
         Secretaries panel to review gas price formula    
 
 
NEW DELHI: Nearly two months after it put off a steep gas price revision, the government has constituted a four-member committee of secretaries to hold consultations with stakeholders before deciding on the quantum of hike.

 
         Arvind eyes Rs 500 cr sales from US brand franchise in 5 yrs    
 
 
NEW DELHI: Textiles firm Arvind is eyeing Rs 500 crore turnover from the franchise of US-based speciality apparel retailer 'The Children's Place' in five years.

 
         5 Indian firms among Forbes' most innovative companies    
 
 
NEW YORK: Five Indian companies, including Hindustan Unilever and Tata Consultancy Services, are among Forbes' list of the world's 100 most innovative companies that investors think are most likely to "generate big, new growth ideas".

 
         Sensex rebounds 46pts as banking,consumer durables stocks rise    
 
MUMBAI: The benchmark Sensex today recovered about 46 points to end near record highs powered by gains in bluechips, led by banking, consumer durables and auto stocks, on buying by foreign funds and a drop in global oil prices.

 
         Diesel can be market-priced by September as crude falls to $100    
 
 
NEW DELHI: With the losses of state-run oil marketers on diesel sales below cost falling to under a rupee per litre, brokerage firm Goldman Sachs Tuesday estimated the monthly price hikes would end after September assuming oil prices remain around the current $100 level.

 
         Sebi moots stringent norms for timely, adequate disclosures    
 
 
MUMBAI: To ensure "timely and adequate" disclosures, Sebi today proposed a detailed set of norms for listed companies that require them to disclose price sensitive information within a day along with the reasons for such developments.

 
         Sensex, Nifty touch record highs; auto stocks shine    
 
MUMBAI: A benchmark index of Indian equities markets Tuesday touched a record high of 26,530.67 points, before closing flat at 26,420.67 points -- up barely 29.71 points or 0.11 percent.

 
         Cairn says Rajasthan block holds 1-3 Tcf of gas reserves    
 
 
NEW DELHI: After oil, Cairn India's prolific Rajasthan block holds significant natural gas reserves, estimated at 1-3 Trillion cubic feet (Tcf), over half of which can be produced.

 
         Mercedes to hike prices by up to 2.5% in India from September    
 
 
NEW DELHI: German luxury carmaker Mercedes-Benz India will hike prices of its products by up to 2.5 per cent from next month in the country to partially offset rising input costs and high exchange rate.

 
         India takes top spot in Nielsen's global consumer confidence    
 
 
NEW DELHI: India has touched the top spot in consumer confidence among the 60 countries measured in Nielsen's Global Survey of Consumer Confidence and Spending Intentions in the second quarter (April-June) of 2014.

 
         Low growth, high inflation not acceptable: Jaitley    
 
 
MUMBAI: Finance Minister Arun Jaitley today said the current situation of high inflation and low growth has to be reversed to achieve sustainable GDP expansion along with improvement in price situation.

 
         Inflation at 5-month low of 5.19 per cent in July    
 
 
NEW DELHI: Inflation dipped to a five month low of 5.19 per cent in July mainly on account of decline in prices of some food articles, vegetables and protein rich items.

 
         Finmin to finalise capital raising plan for PSU banks next mth    
 
 
NEW DELHI: The Finance Ministry is likely to finalise by next month the roadmap for Rs 2.40 lakh crore capital raising plan of public sector banks to meet global capital adequacy requirements.

 
         Top 5 richest Indians have half of nation's billionaire wealth    
 
 
NEW DELHI: The top five Indian billionaires led by Reliance Industries Chairman Mukesh Ambani collectively control USD 85.5 billion (about Rs 5,23,897 crore) in personal wealth, accounting for nearly half of the country's total billionaire wealth, a new study said today.

 
         NDA govt will not entertain FDI in multi-brand retail'    
 
 
NEW DELHI: Clearing government stand on FDI in multi-brand retailing, Commerce and Industry Minister Nirmala Sitharaman today said the NDA government will not "entertain" foreign direct investment in multi-brand retail.

 
 
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