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February 06, Saturday 2016 8:45 PM       
       HEADLINES: Several injured in Kozhikode bus accident                                              Karayi Rajan resigns as District Panchayat president                                              DGP rejects VS’ demand to file case against Thampanoor Ravi                                              President Pranab Mukherjee reviews fleet at International Fleet Review                                              NATO says Russian air strikes undermining Syria peace efforts                                              Rajat Gupta gets chance to void insider-trading conviction                                              New U.S. intelligence report says Islamic State weaker                                              RCB's Rs 9.5 crore bid makes Watson million dollar man of IPL                                              India opens medal account; wins gold, silver in cycling                                              Kaumudi Facebook
       BUSINESS  
         RBI open to regulatory changes, says Deputy Governor Khan    
 
 
NEW DELHI: Reserve Bank is open to regulatory changes so as to give a boost to investment in infrastructure sector, its Deputy Governor H R Khan said today.

 
         Sensex extends gains, up 58 pts in early trade    
 
 
MUMBAI: Market benchmark BSE Sensex pulled off a rosy start as it rallied further by over 58 points to 24,396.99 today on sustained buying by investors amid a mixed trend at other Asian markets.

 
         Google search chief Singhal to quit, to be replaced by AI head    
 
 
SAN FRANCISCO: India-born Amit Singhal, the longtime head of Google's Internet search business, is set to quit the company later this month and will be replaced by the technology giant's artificial intelligence chief. Singhal, 47, who joined Google in 2000, has been involved with many technologies that have made Alphabet, the parent of Google, an engineering powerhouse and one of the world's most valuable companies.

 
         IT exports to grow at slower pace of 10-12% in FY17: Nasscom    
 
 
NEW DELHI: Export growth in the country's IT-BPO sector is expected to be slower at 10-12 per cent next fiscal hit by currency fluctuations, especially the weakening of the rupee against the US dollar, Nasscom said today. The industry is looking at 12.3 per cent growth in the 2015-16 fiscal, ending on March 31. Last year, the IT services and software industry body had forecast a growth of 12-14 per cent in exports.

 
         Walmart to open 10 cash and carry stores in Karnataka    
 
BENGALURU: Walmart India President and CEO Krish Iyer today said the company will be opening 10 cash and carry stores in Karnataka. "Today we signed an agreement with Karnataka government to open ten cash and carry stores in Karnataka," Iyer said.

 
         Finmin to refund Swachh Bharat cess paid by SEZs    
 
 
NEW DELHI: Providing relief to SEZ units and developers, the Finance Ministry today said they will be entitled to refund of the Swachh Bharat cess, a levy imposed by the government from November last year to fund its cleanliness drive.

 
         TCS rated world's most powerful brand in IT Services: report    
 
 
LONDON: India's top multinational IT company Tata Consultancy Services has been rated as the world's most powerful brand in Information Technology Services by a leading global brand valuation firm, the company said today.

 
         Govt to infuse about Rs 5,000 cr in PSU banks this quarter    
 
 
NEW DELHI: Government will infuse about Rs 5,000 crore capital in the public sector banks in the current fiscal to strengthen balancesheet. "As committed, banks will get fund infusion in the fourth quarter. Banks will get about Rs 5,000 crore," Financial Services Secretary Ajuly Chib Duggal said on the sidelines of an event here.

 
         RBI plays ball with govt, to simplify rules for start-ups    
 
 
MUMBAI: Underscoring the need to boost the start-up ecosystem, the Reserve Bank today said it will simplify rules and regulations which impede their growth and ensure that an entrepreneur does not have to run from "pillar to post" to start a business.

 
         Adani's coal mine project in Aus gets environmental approval    
 
 
MELBOURNE: Indian mining giant Adani's plan to build one of the world's largest coal mines in Australia moved closer to realisation today after the Queensland state gave environmental approval to the 16.5 billion dollars controversy-hit project but with about 140 conditions. Queensland state's Department of Environment and Heritage Protection (EHP) said it has issued a final environmental authority (EA) for Adani's Carmichael Mine project in the Galilee Basin.

 
         Sensex plummets 286 pts after RBI keeps rates unchanged    
 
 
MUMBAI: Reserve Bank maintaining status quo on monetary policy failed to cheer investors as the benchmark BSE Sensex plunged by 285.83 points to 24,539 today, while global cues were also bearish on fresh slide in crude oil prices. RBI, which had cut interest rate by 125 basis points or 1.25 per cent in 2015, retained the benchmark repo rate at 6.75 per cent.

 
         Sahara uses small savers to keep hill resort afloat    
 
 
MUMBAI: Embattled Sahara conglomerate has been funnelling cash from small savers to fund one of its biggest projects, a luxury resort south of Mumbai, according to documents Reuters reviewed.

 
         CBDT lists norms for faster refund in pending tax demand cases    
 
NEW DELHI: The CBDT has issued guidelines for expeditious tax refund of up to Rs 5,000 in cases where the department wants to adjust the refund with a pending demand, which has been contested by the assessee.

 
         Sensex slips 46 pts ahead of RBI meet; banks stock weigh    
 
 
MUMBAI: Market benchmark Sensex today dropped by 46 points, after taking a day's breather, to close at 24,824.83 as banking stocks came under selling pressure ahead of the Reserve Bank monetary policy meet.

 
         Jaitley pitches for reforms, not populism, to push growth    
 
 
NEW DELHI: Making a case for 8-9 per cent growth rate, Finance Minister Arun Jaitley today indicated that his upcoming Budget will not resort to "sheer populism" for good ratings and will focus on structural reforms.

 
         Need to 'discover and invent locally' for Make in India:Murthy    
 
 
BENGALURU: IT czar N R Narayana Murthy today said the country needs to 'discover and invent locally' to help the Centre's ambitious "Make in India" scheme become successful.

 
         GDP growth for 2014-15 marginally revised down to 7.2%    
 
NEW DELHI: Government has marginally revised downward the economic growth for 2014-15 to 7.2 per cent from the earlier estimate of 7.3 per cent after factoring in latest data on agriculture and industrial production.

 
         Anti-dumping duty imposed on Chinese mulberry silk    
 
NEW DELHI: Government has imposed USD 1.85 per kg anti-dumping duty on mulberry raw silk originating from China to protect domestic industry from cheap inbound shipments. The government has also extended the anti-dumping duty on import of melamine from China for five years.

 
         Record fourth quarter results give Facebook shares a new high    
 
 
NEW YORK: Riding on its mobile advertising business and the growing number of users on its bouquet of apps, the social networking giant has beaten all revenue forecasts by posting a record fourth-quarter results for 2015, leading to a steep jump in its shares in after-hour trading.

 
         Sensex trips 92 pts on derivatives expiry, weak Asian cues    
 
 
MUMBAI: The Sensex fell almost 92 points to 24,400.52 in early trade today as participants cut down risky bets in view of the January derivatives expiry amid lacklustre Asian cues.

 
         Gold tops Rs 27,000; up Rs 380 on global cues, wedding demand    
 
 
NEW DELHI: Gold prices again zoomed past the Rs 27,000-level by surging Rs 380 to close at a three-month high of Rs 27,130 per 10 grams at the bullion market today, tracking a firm trend overseas and increased buying by jewellers to meet the ongoing wedding season demand.

 
         Apple to take a bigger bite from Indian smartphone market    
 
 
NEW DELHI: Tech giant Apple is "putting increasingly more energy in India" to cash in on the booming smartphone market in the country, even as global sales of the iconic iPhone grew at its slowest pace.

 
         India business confidence picks up in January: Survey    
 
NEW DELHI: Business sentiment among Indian companies rose for the first time in three months in January, largely supported by the first increase in new orders since last June, a survey said today.

 
         Banks taking strong stance on corporate defaulters: Kochhar    
 
 
DAVOS: With high NPAs weighing down on the books of several banks, ICICI Bank has adopted a strategy of 'proactive action' on its corporate portfolio and is focussing on higher-rated clients, its chief Chanda Kochhar said here.

 
         Google to pay 130mn pounds to Britain in back taxes    
 
 
LONDON: Technology giant Google is to pay 130 million pounds in back taxes to Britain following a government inquiry into its tax arrangements, a company spokeswoman said.

 
         Economic reforms in India are in right direction: Rajan    
 
 
DAVOS: Economic reforms in India are going in the right direction, but the level is "wrong", RBI Governor Raghuram Rajan has said, referring to some of the outdated regulations that are currently in place.

 
         EPFO may pay 9% interest on PF deposits for 2015-16    
 
NEW DELHI:Retirement fund body EPFO may provide 9 per cent interest on PF deposits for this fiscal, which is higher compared to 8.75 per cent provided in previous two fiscals to its over five crore subscribers. "The income projection of Rs 34,844.42 crore for the current fiscal is expected to be revised upward. Thus the body can provide 9 per cent rate of interest on PF deposits for 2015-16," an EPFO trustee and Bharatiya Mazdoor Sangh Secretary P J Banasure told PTI.

 
         RBI to issue Rs 500, Rs 100 notes with more security features    
 
 
MUMBAI: Reserve Bank will soon put into circulation new banknotes of Rs 500 and Rs 100 denominations of the Mahatma Gandhi Series-2005 with enhanced security features. RBI said the introduction of new bank notes is part of its endeavour to continually improve design and security features to deter counterfeiting activities.

 
         India changing tax laws for stability, predictability: Jaitley    
 
 
SINGAPORE: India is gradually transforming most of its taxation laws for a greater degree of stability and predictability, Finance Minister Arun Jaitley today said, stressing that the proposed Goods and Services Tax (GST) is a major step in this direction.

 
         S Korea sues Volkswagen's local head over recall plan    
 
 
SEOUL: South Korea said today it was filing a criminal complaint against the head of Volkswagen AG's Korean office, saying a plan it submitted for recalling emissions-cheating vehicles was legally deficient.

 
 
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