Indian Economy

Sterlite impasse irks ‘concentrate’ sellers

‘Raw material vendors may turn wary’ The closure of the Thoothukudi facility of Sterlite Copper has put global suppliers of copper concentrates in a spot, it is learnt. In the wake of the Sterlite imbroglio, the international trading and supplier community is reportedly unsure of the wisdom of entering into …

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Govt. to seek new bids for Pawan Hans

100% stake sale on anvil as ONGC seeks to offload its 49% shareholding in helicopter services provider The government will soon invite fresh bids for 100% stake sale in Pawan Hans by issuing an addendum to the disinvestment document as ONGC is ready to sell its entire stake in the …

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India’s forex reserves dip by $951 mn

Foreign exchange reserves declined by $951 million to $404.2 billion in the week to July 27, on account of a fall in the foreign currency assets, the RBI said. In the previous week, the reserves rose by a marginal $67.7 million to $405.1 billion. The forex kitty is an indicator …

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is the Sensex on a bull run?

India’s benchmark equity index, the 30-share Sensex, is on a record-breaking spree this year. The recent past saw the index regularly touching a new high with ease as it breached the 37,000-mark for the first time ever on July 26. Incidentally, the index took only 13 trading sessions to clock …

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Services sector grows fastest since Oct. 2016: PMI survey

Increase in new business strongest since June 2017; inflation pressures still ‘high’ India’s services sector activity remained in the growth territory for the second consecutive month in July, as business activity witnessed the strongest growth since October 2016, amid improved demand conditions, said a monthly survey. The seasonally adjusted Nikkei …

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WHO thumbs up for Swachh Bharat’s rural component

Likely to prevent three lakh deaths in five years It is estimated that the Swachh Bharat Mission Gramin (SBM-G) will result in preventing more than three lakh deaths due to diarrhoea and protein-energy malnutrition between 2014-October 2019, notes a World Health Organisation (WHO) report released on Friday. The progress report …

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Cabinet okays 51% stake for LIC in IDBI

The Union Cabinet on Wednesday gave its approval to the government’s decision to reduce its stake in IDBI Bank below 50%, with Life Insurance Corporation raising stake in the bank to 51%. The boards of IDBI Bank and LIC have both given their approval for the deal. This policy will …

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