HDFC Bank has reported 33% jump in its fourth quarter net profit at Rs 1,115 crore on the back of higher other income and lower provisioning. Net revenues (net interest income plus other income) at Rs 4,096 crore for the quarter ended March 31, 2011 increased by 24% over Rs 3,302 crore f…

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Sterlite Industries India Ltd (SIIL) will be doubling capacity at its copper-smelting plant here, with an investment of around Rs 2,500 crore. The company is hoping to complete the expansion by 2013. It may be noted the Madras High Court had earlier ordered the company to shut the unit b…

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Marcy Gordon, AP Business Writer, On Friday April 15, 2011, 8:49 pm EDT WASHINGTON (AP) — Regulators on Friday shut down a total of six banks in Alabama, Georgia, Minnesota and Mississippi, boosting the number of U.S. bank failures this year to 34. There were 157 bank closures in 2…

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Infosys Technologies, India’s second largest software services exports firm, has posted a net profit rise of 17.1% y-o-y to Rs 1,818 crore in its net profit for the fourth quarter ended March 31, 2011 as compared to Rs 1,600 crore in the corresponding quarter a year ago. The net pr…

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ING Investment Management has resumed buying Indian equities for the first time in almost a year as valuations are now cheaper and inflation looks close to peaking, a strategist for ING’s emerging markets fund told Reuters on Tuesday. India has been among this year’s worst-pe…

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Japanese authorities have raised the severity rating of their nuclear crisis to the highest level, seven. The decision reflects the total release of radiation at the damaged Fukushima Daiichi power plant, which is ongoing, rather than a sudden deterioration. Level seven previously only …

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Consolidation likely strategy, but not because sector isn’t expanding: Experts Consolidation is the way forward for the Indian retail industry, but not through distress sale, say experts and analysts tracking the sector. The consolidation talk has gained momentum following the recent…

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A strong earthquake of magnitude 7.4 shook the northeast of Japan late on Thursday, and all tsunami alerts have been lifted for the coast already devastated by last month’s massive quake and the tsunami that crippled a nuclear power plant. No damage from Thursday’s quake was …

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Portugal seeks bailout and becomes 3rd victim of Europe debt crisis Barry Hatton and Alan Clendenning, Associated Press, On Wednesday April 6, 2011, 8:30 pm EDT LISBON, Portugal (AP) — Portugal asked for a bailout Wednesday to relieve its crushing debt, joining Greece and Ireland…

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Asia’s developing economies are expected to grow by just under 8% in 2011, according to the Asian Development Bank (ADB) In its annual Asian Development Outlook it predicted that the region would expand solidly over the next two years. However, growth rates would be slower than in…

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