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Giving a major boost to telecommunication facilities in various countries, a consortium of nine partners comprising of leading global telecom operators, has completed 13000 kilometers long high-capacity, state-of-the-art fibre-optic submarine cable that stretches from India to Europe. Airtel (BSE:BHARTIARTL:532454, NSE: BHARTIARTL)... 

The Indian rupee seesawed before closing marginally higher on Wednesday as demand for dollars from oil firms was offset by gains of more than a percent in the domestic sharemarket and a weak U.S. unit overseas. The partially convertible rupee closed at 45.04/05 per dollar, 0.1 per cent above its 45.09/10 close on Tuesday. “With... 

BANGALORE: Indian shares rose 1.2 per cent on Wednesday, a day ahead of the expiry of monthly derivative contracts, buoyed by firm global markets, but volumes were slack as the year-end holiday season saw most investors staying light. Hindustan Unilever Ltd jumped 3.5 percent on a report in the Mint daily India’s largest... 

CHENNAI: Luxury car maker BMW India today said it would create 1,200 jobs in the dealer and service network by 2011. “BMW India would employ around 400 people by the end of 2010. Upto 1,200 jobs will be created in the dealer and service network in 2011,” BMW India said in a statement. As part of its future plans,... 

Finance Minister Pranab Mukherjee on Wenesday ruled out any systemic failure in alleged fraud at Citibank which is estimated at Rs 400 crore (Rs 4 billion) and said ‘regular precautions are being taken’. “There are regular regulations and all other precautions are being taken. But if there is an individual... 

MUMBAI: Benchmarks closed above psychological resistance levels on Wednesday as traders settled positions ahead of December series expiry. Buying activity was also seen in midcaps and smallcap stocks as well. All the sectoral indices closed in the green with FMCG and metals outperforming the rest. Bombay Stock Exchange’s... 

Angel Broking is bullish on KEC International and has recommended buy rating on the stock with a target of Rs 648 in its December 28, 2010 research report. “KEC International (KEC) has bagged orders totaling to Rs 1018 crore across the transmission, railways and cables segments. In the transmission segment, the company has... 

Chandigarh-based Surya Pharmaceuticals, a mid-sized pharma player with FY10 net revenue of Rs 1,144 crore, has acquired US-based over-the-counter (OTC) analgesic drug brand ActivOn, used to treat aches and pains, along with its global marketing rights for USD 22 mn (a little above Rs 99 crore). Surya Pharma claims to be one... 

Tata Steel Ltd. isn’t averse to Rio Tinto Ltd.’s bid for Riversdale Mining Ltd. as it considers Rio Tinto “a well-managed company,” a senior executive at the Indian steelmaker said Monday. “We have invested in Riversdale not for financial incentives, but for securing coking coal supplies for our... 

Strong growth, high profitability attracted regulatory attention towards MFI sector: Extremely rapid growth ~95% CAGR over the last six years – to some extent led to irresponsible lending practices (lack of transparency, high interest rates on loans, inadequate collection systems) followed by MFI’s. Loans were also...