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Customs
duty on cellphones may stay
New Delhi: The government has no plans to lower the
customs duty rate on mobile handsets in the near term.
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Daksh
may buy BPO firm in Philippines
New Delhi: The Gurgaon-based BPO firm Daksh is in
preliminary talks with a Philippines-based BPO company,
etelecare International, and may consider a possible acquisition.
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Sebi
may clear Birlas' L&T offer soon
Mumbai: The Securities and Exchange Board of
India is likely to permit the Aditya Birla group to go
ahead with its open offer for acquiring an additional
20 per cent stake in L&T.
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Toubro
plans Rs 600-cr poultry project in WB
New Delhi: The Chandigarh-based diversified Toubro
Infotech and Industries Ltd is first setting up a Rs 100-crore
chicken unit in its home state and table egg producing
unit in West Bengal will follow.
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Show-cause
notices to 18 MNCs for Fera violation
New Delhi: Eighteen multi-national companies including
Ericsson, Samsung, Sony, Nokia, Mitsubishi, Bank of Tokyo
Mitsubishi and Deutsche Bank have been slapped show-cause
notices for alleged violation of foreign exchange regulations
involving over Rs 170 crore.
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Tatas
to buy power arm's broadband division
Mumbai: Tata Teleservices is poised to acquire the
broadband infrastructure division of Tata Power. Indications
are that Tata Power Broadband, the communications arm
of Tata Power, will be transferred to Tata Teleservices
Maharashtra - the basic services operator in Maharashtra
and Goa.
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Two-wheeler
cos fetch a premium in '02-03
Mumbai: The motorcycle segment has seen a sharp jump
in the sales of premium bikes as consumers upgraded to
more expensive bikes. Sales of entry level bikes, on the
other hand, have declined as a percentage of total sales,
while the share of the ‘executive’ or middle
segment, which constitutes the largest chunk of motorcycle
sales, have more or less remained the same.
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Raymond
stitches denim strategy for international, local markets
Mumbai: Raymond Ltd - the second-largest player in
the category - is planning to expand its denim business
in the domestic as well as international markets.
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Maersk’s
new direct route may not ease Far East rates
Mumbai: The container freight rates on the Far East
sector are unlikely to soften inspite of the introduction
of a new weekly service by Maersk Sealand to the US west
coast through the Far East ports.
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Zero
B claims EU standards
Mumbai: Ion Exchange, manufacturers of Zero B packaged
drinking water, conforms to European Union standards of
0.1 ppb limit for pesticides as per test reports from
the Bureau of Indian Standards, a company spokesperson
said .
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Air-India
kicks off VRS today
New Delhi: The Centre has approved the voluntary retirement
scheme for Air-India employees, with an aim to cutdown
the staff strength of the airliner which has the highest
manpower-aircraft ratio.
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Small
shareholders on company boards may be mandatory
New Delhi: The Department of Company Affairs (DCA)-constituted
Working Group on Corporate Governance is set to recommend
that small shareholders should be compulsorily represented
on the board of public companies.
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Surya
Herbal plans foray into southern, western markets
New Delhi: Surya Herbal Ltd has lined up a slew of
activities in the cardio-vascular, asthma and anxiety
segments, besides rolling out a cosmetic line of natural
products, in the forthcoming fiscal. A renewed thrust
in the southern and western markets is also on the cards
for the company that has a presence in the northern region.
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Canon
eyes Rs 500-cr turnover
Bangalore: Canon India Pvt Ltd, the wholly owned subsidiary
of Canon Inc, an imaging technology company is targeting
a turnover of Rs 500 crore by 2005. The company, which
clocked revenue of Rs 202 crore in 2002, is betting on
its digital multi-functional peripherals, printers and
digital cameras to drive its growth.
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