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April 25, Saturday 2015 7:54 PM       
       HEADLINES: Fireworks accident in church: Case against priest                                              Minister Rabb can’t be blamed: KPA Majeed                                              CPM candidate will contest in Aruvikkara                                              Antony for solution through talks                                              Salman Khurshid acts in 'Kal Ho Na Ho' music video, courtesy German embassy                                              New deadly strikes in Yemen despite rebel demands                                              US should boost Indian Navy's combat power: US think tank                                              Italy arrests suspected bin Laden bodyguards, Peshawar bombers                                              Al Qaeda's Indian branch leader killed by US                                              Daredevils outclass Mumbai                                              Indian motor sports gets government recognition at last                                              Saina ousted from Badminton Asia Championship                                              Struggling Mumbai Indians face Sunrisers Hyderabad in crucial IPL clash                                              Kaumudi Facebook
       BUSINESS  
         SBI may hit market with Rs 15,000 cr issue by June    
 
 
MUMBAI: The country's largest lender SBI may hit the market by June with plans to raise Rs 15,000 crore through sale of shares. While SBI is yet to formally decide on the timing of the share sale plan, the biggest ever by the state-run bank, merchant banking sources said that it might take place by June as the conditions are not seen to be very conducive at the moment.

 
         Sensex falls 297 pts to over 3-mth low, Infosys slumps    
 
 
MUMBAI: The benchmark BSE Sensex today nosedived 297 points to its lowest in three-and-a-half months at 27,437.94 after IT major Infosys shares tanked 6 per cent on lower-than-expected earning numbers.

 
         Infosys to buy Kallidus Inc for $120 mn    
 
 
CHENNAI: Cash-rich information technology bellwether Infosys Ltd said on Friday that it has entered into definitive agreement to acquire Kallidus Inc. (d.b.a Skava) and its affiliate for $120 million.

 
         Internet.org offers free access to over 800 mn: Zuckerberg    
 
 
NEW DELHI: Even as the debate on Facebook's Internet.org initiative violating net neutrality rages on, its CEO Mark Zuckerberg today said the platform has made free basic Internet services available to more than 800 million people in nine countries, including India.

 
         Xiaomi to launch data centre by year-end; launches Mi 4i    
 
 
Chinese smartphone maker Xiaomi today said it plans to launch its data centre in India by later this year or by early next year as it looks to address data security concerns of Indian authorities.

 
         Google wireless phone service challenges major carriers    
 
 
SAN FRANCISCO: Google is trying to shake up the wireless phone industry with a low-priced service designed to pressure major carriers into making it more affordable for people to get online and use Google's services.

 
         Broad consensus on GST among states: Jaitley    
 
 
NEW DELHI: Finance Minister Arun Jaitley today said a Constitution Amendment Bill for introduction of Goods and Services Tax (GST) will be passed in the current session of Parliament as there is a broad consensus among states on the issue.

 
         MakeMyTrip acquires travel guide startup Mygola    
 
 
NEW DELHI: Online travel services provider MakeMyTrip today said it has acquired Mygola, a startup travel guide firm, and the latter's entire team has joined the firm.

 
         Shanghvi did not buy Daiichi Sankyo's shares: Sun Pharma    
 
 
NEW DELHI: Drug major Sun Pharmaceutical today said its promoter and Managing Director Dilip Shanghvi did not buy shares of the company sold by the Japanese drugmaker Daiichi Sankyo.

 
         Govt to auction small oil fields of ONGC, Oil India to pvt cos    
 
 
NEW DELHI: The government will soon auction 69 small and marginal oil fields of state-owned ONGC and Oil India to private firms as a precursor to a full fledged licensing round, Oil Secretary Saurabh Chandra said today.

 
         Daiichi exits Sun; ends 7 years of tumultuous ride in India    
 
 
NEW DELHI: Japanese drug maker Daiichi Sankyo today sold its entire stake of around 9 per cent in Sun Pharmaceutical Industries for over Rs 20,420 crore, which it received after merger of Ranbaxy in the Indian firm, ending its seven years of tumultuous experience in the country.

 
         Sensex falls for 5th day; Nifty dips below 8,400-mark    
 
 
MUMBAI: On its fifth-straight session of fall, the benchmark BSE Sensex today slipped by 210.17 points to 27,676.04 while NSE Nifty ended below 8,400-level on losses in pharma and FMCG stocks amid sustained foreign fund outflows and corporate earning concerns.

 
         Gold sales to rise 25 percent on Akshaya Tritiya    
 
 
MUMBAI: To usher in good luck in their lives on the occasion of Akshaya Tritiya, buyers have already started trickling in at various jewellery shops on Tuesday and retailers expect sales to be higher by 25 percent over a usual day.

 
         Banks turn to consumer loans to counter corporate slowdown    
 
 
MUMBAI: Indian banks, hoping to offset a slow recovery in corporate lending, are pushing into credit cards and personal loans, using blanket advertising, cold call campaigns and even sending employees to malls to lure customers.

 
         Property market to improve by Mar 2016, help developers: Fitch    
 
NEW DELHI: Global rating agency Fitch today said the likely upturn in the country's investment climate and reduction in interest rates will improve the property market by the end of March 2016 and provide relief to the debt-ridden developers.

 
         Sensex falls 252 pts; Nifty below 8,600-mark in morning trade    
 
 
MUMBAI: The benchmark BSE Sensex dropped over 252 points and the broader NSE Nifty fell below the crucial 8,600-level in late morning trade today on heavy selling in IT, auto, capital goods, metal and realty stocks.

 
         Nokia's Alcatel buy: APJ, India to account for 18% revenue    
 
 
NEW YORK: Finnish firm Nokia’s acquisition of Alcatel-Lucent will create an entity with revenues of $28 billion (about Rs 1.75 lakh crore), with Asia-Pacific, Japan and India (APJ/India) contributing 18 per cent.

 
         Modi's visit to Canada generated business worth 1.6 bn dollars    
 
 
TORONTO: Prime Minister Narendra Modi's visit to Canada has generated business worth more than 1.6 billion Canadian dollars, according to official figures released by the Harper government here.

 
         India's ability to absorb economic shocks is stronger: Jaitley    
 
 
WASHINGTON: With the vast depth and size of its market, India's ability to absorb international shocks is far stronger as reflected in the rupee remaining relatively stable, Finance Minister Arun Jaitley has said.

 
         Gold rises on renewed demand by stockists; silver drops    
 
 
MUMBAI: Gold prices firmed up after brief pullback at the bullion market here today on fresh bout of buying from stockists and retailers supported by seasonal demand.

 
         Airtel defends toll free platform; supports net neutrality    
 
 
NEW DELHI: In the eye of the storm over net neutrality, Bharti Airtel today said it will always provide same treatment to every website and application irrespective of whether they are on its toll free platform or not.

 
         Indian economy to grow at 7.3% in 2015: Moody's Analytics    
 
NEW DELHI: Indian economy is expected to grow marginally higher at 7.3 per cent during the year compared with 7.2 per cent in 2014 and interest rate cuts will buttress private sector spending, said a group company of global rating agency Moody's.

 
         Sensex trades over 100 points down; healthcare stocks plunge    
 
 
MUMBAI: A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), was trading over a 100 points down during the late-afternoon session on Friday.

 
         Volkswagen plans to make India low-cost export hub    
 
 
HANNOVER: German auto major Volkswagen is planning to make India a low-cost manufacturing hub, catering to both the emerging as well as developed markets.

 
         Tata Motors shares up 2% as global sales rise in March    
 
 
MUMBAI: Stocks of Tata Motors went up by 2 per cent today as the company reported a 9 per cent growth in in global sales, including those of Jaguar Land Rover, in March.

 
         Future Group, Bharti Retail in talks for partnership    
 
NEW DELHI: Homegrown retail major Future Group and Bharti Retail are understood to be in advanced stage of talks to merge their businesses with a deal expected to be announced early next month.

 
         Ola raises $400 mn to drive expansion    
 
 
BENGALURU: Leading mobile application provider for personal transportation Ola on Thursday announced raising $400 million (Rs.2,495 crore) from venture partners to fund its expansion and growth plans.

 
         ICICI Bank cuts home loan rate by 0.25%    
 
 
NEW DELHI: ICICI Bank today slashed home loan rate for both existing as well as new borrowers by 0.25 per cent joining a rate cut war initiated by its bigger rivals HDFC Ltd and SBI.

 
         India's GDP growth rate to reach 8 pc by 2017: World Bank    
 
 
WASHINGTON: The World Bank has predicted a GDP growth rate of 8 per cent for India by 2017 and said that a strong expansion in the country, coupled with favourable oil prices, would accelerate the economic growth in South Asia.

 
         Net neutrality: Flipkart walks away from Airtel Zero    
 
 
NEW DELHI: Switching sides to support 'net neutrality', e-commerce major Flipkart Tuesday decided to "walk away" from its proposed tie-up with Airtel that has been at the centre of a raging debate over a need to maintain equal Internet access for all.

 
 
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