Monday, 5 August 2013

NEWS WRAP - AUGUST 05, 2013

  • NSEL suggests phased payments to end crisis.
  • British Telecom major Vodafone not in favour of holding its Rs. 20,000 crore withholding tax dispute under Indian Jurisdiction; seeks Neutral Authority like UNCITRAL.
  • Private Refiners made Rs. 10,000 crore on flawed pricing of Petrol and Diesel: CAG.
  • Tata Motors cuts Pantnagar Unit Workforce by 21% in drive to cut costs.
  • After Akash, Government planning sub-$100 Smartphones to push Broadband Services.
  • Quick Heal plans Initial Public Offer, First Indian Anti-Virus Company to go Public.
  • Investors in tax havens may have to share Information by signing Share Banking Agreement with CBDT.
  • Union Bank to raise Rs. 3,000 crore Equity to meet Basel-III Norms after 2015.
  • Mutual Funds withdraw Rs. 2,100 crore from Stocks in July.
  • Market Capitalization of top 6 Companies dip by Rs. 92,649 crore; ITC, ONGC hit hard.
  • Reliance Infrastructure to digitise Customer Services in 71 Bihar towns to cut losses of Bihar State Electricity Board (BSEB).
  • Relaxation of Port Tariff Rules vide issue of New Tariff Guidelines 2013, to create new and different projects within major ports.
Source: Economic Times

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