MUMBAI: The Securities and Exchange Board of India (SEBI) on Thursday said investors won’t be allowed to exit from close-ended mutual fund schemes before maturity and asked fund houses to list them on stock exchanges. The market regulator also said all such funds must invest in inst…

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The Monetary Policy Committee, led by Governor Mervyn King, reduced the bank rate to 2%, the lowest level since 1951 As expected, the Bank of England (BOE) on Thursday slashed its key interest rate to the lowest in more than five decades, as the British central bank scrambles to revive t…

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SINGAPORE: Oil fell below $46 a barrel on Thursday, to almost four-year lows, on fears of deepening economic woes, which overshadowed bullish weekly US oil stocks data. US light crude for January delivery fell 89 cents a barrel to $45.90 by 0224 GMT, having earlier fallen as low as $45.75…

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MUMBAI: Indian commodity markets regulator have allowed exchanges to restart trade in the four suspended commodities from Thursday, its chairman said late on Wednesday. “We have given permission to the exchanges to restart trading,” B.C. Khatua told reporters. Officials at N…

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Metro Cash & Carry, the German wholesale retailer, today said that it plans to invest Rs 900 crore in Punjab to set up six distribution centers.“We have plans to enter Punjab now,” said Martin Dlouhy, managing director of Metro Cash & Carry, India, without mentioning a time …

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Ashok Kapur, non-executive chairman of private sector lender Yes Bank, has been killed by terrorists in the Trident-Oberoi hotel complex in Mumbai.Kapur was the founding promoter and held 11.83 per cent stake in the bank at the end of September 2008. …

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New Delhi: Imran Babar, who identified himself as one of the terrorists involved in the terror strikes in Mumbai, called up a TV news channel on Thursday and said they wanted to have talks with the government for exchange of the hostages. …

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Tamil Nadu Electricity board and Bhel today signed an agreement for a joint venture agreement to start a 1600 Mw Thermal power plant at Udangudi in Tuticorin district. The venture would be named as Udangudi Power Corporation Ltd, in which TNEB, Bhel and other financial institutions, would…

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AIG adopts exec compensation, bonus restrictions, CEO Liddy gets $1 annual salary for 2 years CHARLOTTE, N.C. (AP) — American International Group Inc. said Tuesday it is limiting how much it pays its top executives, including granting a $1 salary for this year and the same for 2009…

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MUMBAI: Foreign exchange reserves fell to $251.364 billion as on November 7, from $252.883 billion a week earlier, RBI said in its weekly statistical supplement on Friday. Foreign currency assets, expressed in dollar terms, included the effect of appreciation or depreciation of other curr…

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