Real estate major Unitech today said it has repaid the entire financial assistance received from Indiabulls Financial Services. Unitech has repaid on the due date the entire financial assistance received from Indiabulls Financial Services and its affiliates, the company said in a regulato…

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By Glenn Somerville and Matt Spetalnick WASHINGTON (Reuters) – World leaders grappling with the worst financial crisis since the Great Depression of the 1930s pledged on Friday to deliver a concrete plan to ward off recession and prevent future meltdowns. …

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DETROIT (AP) — In recent months, General Motors has been burning through about $3.1 million an hour, or $52,000 — the price of a well-equipped Chevy Tahoe SUV — every minute. How much longer can this go on? And perhaps more important, can GM hang on until Barack Obama a…

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MUMBAI: After a promising start, stocks see-sawed through the day to finally give in to losses. Deteriorating global economic news with Hong Kong and Italy drifting into recession weighed on sentiment. All sectoral indices, barring FMCG, ended in the negative territory. …

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Scottish & Southern Energy Plc, the U.K.`s second-biggest energy supplier, will buy 69 turbines REpower Systems AG expects to double the number of turbines it installs in the U.K. next year. The local division should install more than 100 of the units in 2009, up from 50 this year. …

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MUMBAI: Reliance Infrastructure Ltd has bought back 16,00,000 equity shares of the company in less than two weeks, a statement said here. The company, a part of the Anil Dhirubhai Ambani Group (ADAG), was earlier known as Reliance Energy Ltd. Since the commencement of the buy back on Marc…

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NEW DELHI: Auto components maker Bharat Forge Ltd, the world’s second largest forgings maker, has deferred a 4 billion rupee ($84 million) rights issue due to worsening market conditions, its chairman said on Monday. “How can we do a rights issue … the markets are challe…

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NEW YORK: Indian shares listed in the United States witnessed erosion of nearly $3 billion in their market valuations for the first week of this month, as fears of an economic turmoil deepening further battered the stock markets. The 16 Indian entities trading on the American bourses lost…

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In a statement issued today, Sun said the offer by its subsidiary Alkaloida Chemical has been extended to comply with an order of the Supreme Court of Israel. The court had prohibited the closure of the offer till it decides on Taro’s appeal against the deal. The Tel Aviv District C…

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Sajjan Jindal-controlled JSW Steel will cut production by 20 per cent starting this month in the wake of the current market turmoil. According to a company release, JSW will utilise the time for general maintenance of its facilities. The company plans to rationalise its product-mix as wel…

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