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May 27, Friday 2016 3:48 AM       
       HEADLINES: Former govt's controversial decisions will be examined                                              Three killed as lorry falls on car in Kannur                                              State to move SC against Green Tribunal verdict                                              First six found guilty, five acquitted in Poovarani sex scandal case                                              I don’t know Jisha’s family, Thankachan denies allegation                                              Swamy fires fresh salvo; asks PM to sack Rajan immediately                                              Modi's rule 'most disappointing' for country: Congress                                              HC stays reservation for Jats, five other communities                                              Indian football coach jailed for sexually abusing boy in UAE                                              Pak to buy choppers from Italy's Leonardo-Finmeccanica                                              'Taliban strike sign of US exasperation with Pak's duplicity'                                              India, China to play constructive role in 21st century: Prez                                              Warner praises bowlers, fielders for win over KKR                                              Paes and Hingis make winning start in mixed doubles                                              Kaumudi Facebook
       BUSINESS  
         India home to 56 of the world's largest public firms: Forbes    
 
NEW YORK: Mukesh Ambani-led Reliance Industries leads the pack of 56 Indian firms in Forbes's annual list of the world's 2,000 largest and most powerful public companies, with the US leading the list with 586 companies. The 2016 Forbes 'Global 2000’, a snapshot of the world's largest companies, shows the dominance of US and China in the current global business landscape.

 
         India could lose USD 49 bn in GDP by food price shock: UN    
 
 
UNITED NATIONS: India could lose USD 49 billion in GDP if global food prices double in future, according to a new UN report which said the world will likely suffer from more volatile food prices due to rising populations.

 
         Market momentum continues, Sensex regains 26k amid F&O expiry    
 
 
MUMBAI: The benchmark Sensex rallied by over 187 points to recapture the 26,000-mark, bringing up gains for the third straight day on rebound in oil prices amid May derivatives expiry and mixed Asian cues.

 
         Sensex takes gains forward, climbs 305 points in early trade    
 
 
MUMBAI: The benchmark BSE Sensex rallied around 305 points and the broader NSE Nifty recaptured the 7,800-mark in early trade today on sustained buying by funds and retail investors amid firm overseas cues. Moreover, covering-up of pending short positions by speculators in view of tomorrow's May monthly expiry in the derivatives segment contributed to the rally.

 
         UBHL seeks time till July to file results due to Mallya cases    
 
 
NEW DELHI: United Breweries (Holdings) Ltd (UBHL) has sought time till July to file results for the last fiscal due to "uncertainties" resulting from ongoing cases against its Chairman Vijay Mallya.

 
         Sensex edges lower 38 pts on global cues, weak rupee    
 
 
MUMBAI: The Sensex inched lower by about 38 points in early trade today on sustained selling by funds and retail investors, tracking losses in global markets amid fears of a possible hike in US interest rates.

 
         Oil prices dip after Iran says it won't freeze output    
 
 
SINGAPORE: Oil prices dipped in Asia today after Iran said it has no plans to join any output freeze by other major crude producers. The Organisation of the Petroleum Exporting Countries (OPEC), of which Iran is a member, is due to meet in Vienna on June 2 after talks in Doha involving OPEC members and other major producers such as Russia in April failed to reach a deal to cap production.

 
         Sensex bounces 217 pts on value-buying, solid Asian cues    
 
 
MUMBAI: The benchmark Sensex rebounded by over 217 points and the Nifty took back the 7,800-mark in the beginning of the session today, snapping its 3-session losing spell, driven by value-buying by retail investors amid a firm trend in Asian bourses.

 
         Mallya's India woes now troubling his US beer firm    
 
 
NEW YORK: Legal proceedings in India against beleaguered businessman Vijay Mallya has now come to haunt his US-based brewery firm, which is banking on USD 1 million bridge loan promised by his holding firm for survival.

 
         Online shopping more popular among consumers: Survey    
 
 
NEW DELHI: Online shopping is more popular among consumers with 80 per cent of buyers preferring to shop over the Internet instead of visiting different stores to purchase their favourite products, according to a new survey.

 
         OVL raises $1.2-bn foreign loans to buy Russia's Vankor stake    
 
NEW DELHI: ONGC Videsh Ltd has taken a bridge loan of USD 1.2 billion from a group of foreign banks at a highly competitive rate of about 1.3 per cent to fund its acquisition of 15 per cent stake in Russia's second biggest oil field of Vankor.

 
         Cook inaugurates Apple Maps development office in Hyderabad    
 
 
HYDERABAD: Apple Inc today announced the opening of a new office here that will focus on development of Maps for its products including iPhone, iPad, Mac and Apple Watch.

 
         Sensex sinks 305 pts on tighter P-Note norms, hawkish Fed    
 
 
MUMBAI: Falling for a second straight day, the benchmark BSE Sensex today plummeted by 305 points to hit over two-week low of 25,399.72 on fears that regulator Sebi will tighten P-Notes rules and speculations that the US Federal Reserve may raise interest rate in June. Moreover, the broader NSE Nifty broke below the crucial 7,800-level. Among other factors, the rupee depreciated by 37 paise to 67.34 against the dollar during the day.

 
         Govt slaps anti-dumping duty on steel pipes, tubes from China    
 
 
NEW DELHI: Government has imposed a provisional anti-dumping duty for six months on seamless tubes, steel pipes, among others imported from China. In March, the Directorate General for Anti-dumping and Allied Duties (DGAD) had recommended to the Revenue Department to impose provisional levy on import of certain types of iron and steel pipes from China used in oil and gas exploration in a bid to protect the domestic industry from cheap imports.

 
         PNB suffers record loss of Rs 5,367 crore in Q4 on high NPAs    
 
NEW DELHI: Reeling under huge bad loans, Punjab National Bank (PNB) today posted the record high quarterly loss by any public sector lender at Rs 5,367 crore for the fourth quarter ended March 31. A three-fold surge in provisioning for bad loans, including for power discoms and Punjab foodgrain related loans, were the main drags on the bank's performance and it expects the pain to continue for some more time.

 
         Sensex gains 167 pts in early trade on global cues    
 
 
MUMBAI: The benchmark BSE Sensex rallied over 167 points to 25,820.45 and the NSE Nifty regained the 7,900-mark in cautious trade today amid firm global cues. The 30-share index rose 167.22 points or 0.42 per cent to 26,415.52. The gauge had gained 163.66 points in the previous session. Also, the NSE Nifty regained the 7,900-mark by rising 51.05 points or 0.65 per cent to 7,911.80.

 
         EPFO to provide 3-yr life cover to subscribers after job loss    
 
 
NEW DELHI: Retirement fund body EPFO next month is likely to consider and approve a proposal to provide life insurance cover to its subscribers for three years after cessation of employment. "EPFO trustees, in the meeting expected next month, will take up and consider the proposal to provide insurance cover under its EDLI scheme to its subscribers for three years after losing job," a source said.

 
         RBI, FinMin share 'mature relationship', says Jaitley    
 
 
NEW DELHI: Amid speculation about a possible second term for Reserve Bank Governor Raghuram Rajan, Finance Minister Arun Jaitley today declined to be drawn into the matter, but said there is a "mature relationship" between the central bank and the government.

 
         Wholesale inflation turns positive after 17 mths; 0.34% in Apr    
 
 
NEW DELHI: Wholesale price-based inflation turned positive after 17 months, posting an annual gain of 0.34 per cent in April, on rise in vegetables and pulses prices. The April Wholesale Price Index-based inflation was at (-)0.85 per cent in March.

 
         US Chamber of Commerce welcomes India's new IPR policy    
 
 
WASHINGTON: The US Chamber of Commerce has welcomed India's new IPR policy, saying it hopes the move is a "precursor" to the "concrete, structural" changes necessary for implementation of a strong innovation model.

 
         NPAs may rise to 6.9% under severe stress scenario: FinMin    
 
NEW DELHI: Attributing mounting bad loans to economic sluggishness, Finance Ministry's annual report has said gross non-performing assets (GNPAs) of banks could soar to 6.9 per cent by March 2017 in a "severe stress scenario". The gross NPA of the scheduled commercial banks, which was 5.14 per cent at the end of September 2015, may rise to 5.4 per cent by September 2016, it said quoting a RBI report.

 
         Exports fall for 17th straight month in April    
 
 
NEW DELHI: Declining for 17th straight month in April, exports dipped by 6.74 per cent to USD 20.5 billion due to sharp fall in shipments of petroleum and engineering products amid tepid global demand.

 
         Rajan indicates interest in second term; says "more to do"    
 
 
LONDON: Indicating his interest in a second term as RBI Governor, Raghuram Rajan today said he has enjoyed every moment of the job but there is "more to do", despite calls from some sections of the ruling BJP against any extension for him. "There is a lot of fulfillment from making things actually happen for improving the environment... I have enjoyed every moment of the job," Rajan said here.

 
         Sensex rebounds 125 pts in early trade ahead of macro data    
 
MUMBAI: Market benchmark BSE Sensex recovered over 125 points in early trade today on buying by domestic investors and foreign funds ahead of IIP and inflation data to be released later in the day, even as the markets sank overseas.

 
         Airtel sets benchmark of 1.5% for call drops    
 
 
NEW DELHI: A day after the Supreme Court stuck down Trai's regulation to compensate consumers for call drops, Bharti Airtel announced to voluntary implement a more stringent benchmark of 1.5 per cent for call drops. The country's top operator will contribute towards rural education Rs 1 lakh for every 0.01 per cent increase in call drop rate beyond 1.5 per cent every month in each circle of operation, subject to a maximum of Rs 100 crore per annum.

 
         Govt brings Bill for faster disposal of debt recovery pleas    
 
 
NEW DELHI: Amid furore over Vijay Mallya loan default matter, the government today introduced in the Lok Sabha a Bill which provides for expeditious disposal of debt recovery applications pending before tribunals.

 
         India to file 16 cases against US for WTO treaty violation    
 
NEW DELHI: India will file 16 cases against the US for violating WTO treaties as certain programmes of the western country in the renewable energy sector are "inconsistent" with global norms, Parliament was informed today.

 
         Govt unearths indirect tax evasion of Rs 50,000 cr in 2 yrs    
 
 
As much as Rs 50,000 crore of indirect tax evasion and another Rs 21,000 crore of undisclosed income has been unearthed by the government in the last years. Finance Ministry in a statement today said the crackdown on black money has led to seizing of Rs 3,963 crore of smuggled goods in two years, a 32 per cent jump over a similar previous period.

 
         Sensex falls 35 points on profit-booking in early trade    
 
MUMBAI: Market benchmark BSE Sensex fell by some 35 points in early trade today as funds and retail investors booked profits after yesterday's strong gains amid mixed Asian cues. The 30-share index, which had gained 460.36 points in the previous session, fell by 34.71 points, or 0.13 per cent, to 25,654.15. Profit-booking in stocks of auto, metal, infrastructure, consumer durables, oil&gas and PSU sectors negatively impacted the trading sentiment.

 
         Gold fails to glitter on Akshaya Tritiya    
 
 
NEW DELHI: Gold prices dipped by Rs 250 to close at Rs 30,100 per 10 grams at the bullion market today as the auspicious Akshaya Tritiya festival failed to enthuse the spirit of buyers. Moreover, a weak global trend weighed on the precious metal.

 
 
Can we expect a corrupt-free rule from LDF under Pinarayi?
Yes
 
No
 
Don't know
 
 
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