India Business News

Mon, 22 Dec 2008
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Consim Info to launch millionaire matrimony site

India's rich and celebrities will soon get an exclusive matrimony site. Consim Info Pvt Ltd, formerly known as BharatMatrimony group, Monday said it will launch a millionaire matrimony site, www.elitematrimony.com, which would help the 'elite' sections find suitable matches.

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CPI-M flays move to raise foreign investment in insurance

Expressing 'shock' after the Congress-led coalition government Monday introduced a bill to increase foreign investment in the insurance sector, the Communist Party of India-Marxist (CPI-M) said it would 'harm the financial sector'.

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Markets slide in last hour, key index closes below 10,000-mark

Indian equities markets ended trade lower Monday, with a key index shedding 1.58 percent to close below the psychological 10,000-mark.

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Rajya Sabha adjourned for day over Antulay, insurance bill

The Rajya Sabha was finally adjourned for the day a little after 3 p.m., as the opposition Bharatiya Janata Party and Communist Party of India-Marxist (CPI-M) MPs disrupted proceedings throughout over the remarks of Minority Affairs Minister A.R. Antulay on the death of Maharashtra police officer Hemant Karkare during the Mumbai terror attacks and the insurance bill, respectively.

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Rare frog found in Kerala, feasts on termites

A rare purple frog - a specie said to be on the verge of extinction - is now in the possession of Kerala scientists who are treating it to a feast of termites and ants.

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Markets dip in afternoon trade

A key index of the Bombay Stock Exchange (BSE) dipped below the the psychologically important 10,000-mark in afternoon trade Monday after gyrating around the opening levels in the earlier sessions.

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Geospatial technology effective tool to counter terror: Sibal

Indian security forces need to effectively implement and use geospatial technology for targeted counter-terrorism operations, as it provides 3D imagery of a conflict area and can eventually help in saving lives, Science and Technology Minister Kapil Sibal said here Monday.

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Fashion weeks to take place March, July

The Fashion Design Council of India (FDCI) has finally announced the dates for the upcoming edition of India Fashion Week and the country's first Men's Fashion Week (MFW).

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'Subsidy burden too heavy for upstream oil firms'

Upstream oil companies have told the government they are unable to pay their share of the subsidy burden due to falling oil prices, Petroleum Secretary R.S. Pandey said here Monday.

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Closed Surat diamond units likely to resume operations

Most closed diamond polishing units here, which had been closed for over a month, are likely to resume operations by Tuesday, a senior government official said Monday.

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BGR Energy inks technology transfer pact with Italian firm

City-based Rs.15.25-billion BGR Energy Systems Ltd has inked a technology transfer agreement with Italian firm TME SpA Termomeccanica Ecologia (TME), the company announced Monday.

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Hinduja Foundries shuts plant till Jan 6

The Hinduja group's automotive foundry company Hinduja Foundries has shut down production till the first week of next month owing to reduced offtake from customers.

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Low oil prices putting ONGC margins under pressure

India's largest oil explorer, Oil and Natural Gas Corp (ONGC), is finding it difficult to make ends meet because of the low ruling global oil prices, the company said here Monday.

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Falling oil prices short-term phenomenon: Oil secretary

Oil secretary R.S. Pandey Monday described the current drop in oil prices as a short-term phenomenon, and said prices would definitely rise.

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Rajya Sabha adjourned again -- over insurance bill

The Rajya Sabha was adjourned for the third time Monday shortly after noon, this time following a scuffle between ruling and opposition MPs over the insurance bill.