Oil prices stabilized Friday as the White House’s $17.4 billion auto industry rescue package gave Wall Street a boost and the dollar strengthened against the euro. Light, sweet crude for February delivery rose 69 cents to settle at $42.36 a barrel on the New York Mercantile Exchang…

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The department of telecommunications (DoT) has released information memorandum providing information and guidelines on the auction of third generation (3G) mobile services and broadband wireless access (BWA) in India. The auction will be held for 3G spectrum in the 2.1 GHz band and for B…

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Mumbai: Housing finance company HDFC Ltd has cut the lending rate by 50 basis points for loans of more than Rs20 lakh for both existing and new customers and introduced a new slab for sub-Rs20 lakh. Loans of up to Rs20 lakh will attract an interest rate of 10.25% and the rates for loans …

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MUMBAI: C&C Constructions Ltd has bagged an order valued at Rs 781 crore for a dedicated freight corridor from New Karwadiya to New Ganj Khwaja in Bihar. This work is of 105 kilometers on the Mughal-Sone section of the Eastern Corridor and has to be competed in 36 months. The proje…

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Steel Strip Wheels today said Tata Capital has acquired 3.88 per cent stake in company after conversion of bonds into equity shares, raising the total stake of Tata group in the company to 13.50 per cent.In a filing to the Bombay Stock Exchange, Steel Strips Wheels (SSWL) said it has allo…

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Oil and gas companies based in the Middle East are holding renegotiations with E&C contractors for a reduction in contract prices of ongoing projects, according to a recent article in MEED – a Middle East publication. …

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The total number of M&A Deals announced during the calendar year 2008 stands at 445 with a total announced value of US$30.72bn as against 676. The year 2008 has witnessed a global economic downturn due to the sub-prime credit crisis, fluctuating commodity and equity prices and the c…

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Foreign institutional investors (FIIs) were net sellers of Rs 188.65 crore (provisional) today, according to data released by BSE.While FIIs made gross purchases of Rs 2,298.15 crore, gross sales totalled Rs 2,486.80 crore. …

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MUMBAI: Snapping a three-day winning streak, Indian markets fell Wednesday led by profit booking in realty, power, metal and IT stocks. The negative opening of European stocks washed out the expected recovery of the indices in the afternoon. National Stock Exchange’s 50-share Nifty …

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WASHINGTON (AP) — The Federal Reserve has cut its target for a key interest rate to the lowest level on record and pledged to use “all available tools” to combat a severe financial crisis and prolonged recession. …

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