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rediff Business
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India's largest news and entertainment service online.
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Of Jamshetji Tata and Nano land in Gujarat
Jamshetji Tata, grandfather of the Tata group chairman Ratan Tata, had donated a handsome amount of money to save animals during a famine at Sanand, the very land offered by the Gujarat government for setting up the Nano project.
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FM faces mobile call drops, complains to Airtel boss
Not only the common subscribers but even Finance Minister P Chidambaram is also peeved over the way mobile calls drop and wanted to know from the group chairman of the largest cellular operator Bharti Airtel, Sunil Mittal, as to when they would be able to fix the problem. "When will calls not drop in Lutyens' Delhi?," Chidambaram asked Mittal at the NDTV Profit Business Award function on Monday evening.
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How has the financial crisis affected you?
Even as the business world is reeling at the amount of money that has been lost, the real tragedy is being enacted in the homes, hearts and minds of the individual victims – the hundreds and thousands of people whose financial ability has been decimated, whose glowing future is suddenly unclear.
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Government may allow FIIs park funds in debt market
In the face of continuing uncertainty in the domestic stock markets, the government and Reserve Bank of India may look at allowing foreign institutional investors to temporarily park their funds in the domestic debt market, a top Sebi official said. Presently, FIIs are allowed to park upto $8 billion in the domestic debt markets, which includes upto $5 billion in the government securities and upto $3 billion in the corporate bonds.
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Karnataka still hoping to bag Nano project
Still hoping to make a last minute bid to bag the Nano project even after the Tatas decided to move its project to Gujarat, Karnataka Cabinet on Tuesday set up a committee headed by industries minister to work out details of the incentives to be offered.
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Festive spirit yet to spark gold sales
Traders attributed slackening in demand to volatile prices which have been swinging in the range of an all-time high of Rs 13,670 per 10 gram and a low Rs 11,800 per 10 gram during the last few months. "Consumers are hesitant and are keeping a wait-and-watch policy, expecting the prices to go down further," said Suresh Verma of Delhi-based Om Jewellers.
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Volatile Sensex ends down 106 points; TCS, L & T shed 7%
The NSE Nifty ended at 3,606, up 4 points. The market breadth was fairly negative - out of 2,682 stocks traded, 1,820 declined, 789 advanced and 73 were unchanged.
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SC dismisses Deccan Aviation's plea for relief
A bench headed by Justice Arijit Pasayat refused to give relief to Deccan Aviation, which had sought stay on a Delhi high court order. The high court had asked it to pay litigation expenses of Rs 50,000 to a passenger in addition to about Rs 33,000 by way of difference in fares and compensation, as ruled by consumer courts earlier.
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Sanand farmers welcome the Nano
"We welcome the Tatas setting up their Nano car plant in the state. There is no trace of objection from farmers of the villages around the site," said Bharatbhai Vaghela, a farmer of Kalana village, which is near the AAU farm. "Farmers are even ready to give their land for approach roads to the AAU site," he added.
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IBM, a solid play in troubled times
Big Blue ranks at the top of the list of defensive companies with its high level of recurring revenues and profitability, worldwide operations, and below-market valuation
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