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India
ShopClues inks MoU with NMDFC to support its e-Karobar initiative
ShopClues, India's first and largest managed marketplace has signed an MoU with National Minorities Development and Finance Corporation (NMDFC), Delhi to give a robust fillip to its e-Karobar initiative.
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USA
Pfizer scraps $160 billion merger with Allergan
US pharmaceutical giant Pfizer said Wednesday it was abandoning plans for a $160 billion merger with Allergan, citing new US rules cracking down on tie ups aimed at saving on taxes. The deal with the Irish-based firm would have created the world's largest pharmaceutical company.
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India USA
Sensex recovers a bit after worst fall in 2 months
A day after posting its biggest drop in nearly two months, market benchmark Sensex inched up by 17 points to 24,900.63 on value-buying in beaten-down stocks amid mixed global cues ahead of the release of minutes from last month's US Federal Reserve monetary policy meeting.
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USA
Fiscal deficit: Cabinet approves states' targets in line with 14th Finance Commission report
The report also suggested year-to-year flexibility for additional deficit of about 0.5%, plus or minus
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Australia Regno Unito
Tata Steel Britain unit sale process to begin Monday: UK Minister
Tata Steel will begin the formal process to sell its UK units by Monday, British business minister Sajid Javid tweeted after a two-hour meeting with the company’s chairman Cyrus Mistry at Bombay House, the Tata Group’s headquarters, on Wednesday. This was Javid’s first meeting with Mistry after Tata Steel, UK’s ...
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USA
Recommendations of FFC on fiscal deficit targets approved
The government on Wednesday gave its approval to recommendations on Fiscal Deficit Targets and Additional Fiscal Deficit to States during Fourteenth Finance Commission (FFC) award period 2015-20 under the two flexibility options recommended in para 14.64 to 14.
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India
CII president pegs India’s GDP growth rate for 2016-17 at 7.75- 8.25%
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India
BSNL announces launch of value added services under fixed telephony
Government telecom operator BSNL has announced the commercial launch of various value added services (VAS) on telephones using NGN technology with effect from April 2, 2016.
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India
Tax collection in 2015-16 exceeds target by Rs 5,000 crore
Helped by buoyancy in indirect taxes, government managed to surpass total tax collection target for 2015-16 by Rs 5,000 crore at Rs 14.60 lakh crore. While indirect tax collections have exceeded revised estimates (RE) by Rs 9,885 crore, direct tax realisations fell short by Rs 4,000 crore over RE.
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India
Banks set to reject Vijay Mallya's offer to repay Rs 4,000 crore
A group of banks, led by the SBI, is set to reject businessman Vijay Mallya's offer to repay Rs 4,000 crore, less than half of what his defunct Kingfisher Airlines owes them, sources with knowledge of the matter said.