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Public-sector lender Central Bank of India has reduced deposit rates by 0.25-0.5 per cent across various maturities inorder to reduce cost of funds....

Central Bank cuts deposit rates

MUMBAI: Public-sector lender Central Bank of India has reduced deposit rates by 0.25-0.5 per cent across various maturities inorder to reduce cost of funds,its chairman said. We have cut the deposit rates by 0.25-0.5 per cent, chairman and managing director S Sridhar said.

ICICI Bank to act as clearing bank for SMX

MUMBAI: The countrys second largest lender,ICICI Bank,has entered into an agreement with Singapore Mercantile Exchange for providing clearing and settlement processing services to traders on the exchange. The membership will also see the bank provide a platform to the market participants in India and abroad to trade on a global commodity exchange,ICICI Bank said.

Renuka Sugars buys Brazilian co for $82 mn

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MUMBAI: India;s biggest sugar refiner Shree Renuka Sugars said on Wednesday it has acquired Brazilian sugar and ethanol producer Vale Do Ivai SA Acucar E Alcool for $82 million. It was a distressed asset, CEO Narendra Murkumbi said,adding it has managed to restructure the firm’s loans at low interest rates.

Small car on anvil,says Honda

NEW DELHI: Japanese auto major Honda has said it will focus on India and China for future growth as sales in developed markets like the US and Europe continue to drag due to the global economic downturn. The company is also mulling to source motorcycle components from India for its global operations.The company said it was working on a small car to address demand of the high volume segment in the country.

TVS-LSL acquires UK-based firm

CHENNAI: TVS Logistics Services Limited (TVS-LSL) on Wednesday announced the acquisition of UK-based logistic supply chain company Multipart Holding to provide inspirational services to its customers in India and overseas and also expand TVS LSL area of operations to Defence and Utility Services. This acquisition would help TVS LSL become the preferred partner for its customers in India and globally in Total Supply Chain Management.

Punj Lloyd Group rejigs operations

NEW DELHI: Punj Lloyd Group on Wednesday announced an ambitious restructuring plan that will see Punj Lloyd functioning as a holding company to provide capital to high potential business areas,which will eventually become independent entities.

Yahoo offers help in UID project

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NEW DELHI: Internet giant Yahoo on Wednesday offered to be part of India’s plan to provide citizens with unique identity numbers,a project headed by IT czar Nandan Nilekani,but said it was not looking for commercial gains. Yahoo’s worldwide Chief Executive Officer Carol Bartz met Prime

Minister Manmohan Singh and expressed interest to partner the government in the project.

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Police personnel seen to control the situation during a massive protest over the statehood demand and the inclusion of Ladakh under the Sixth Schedule, in Leh on Wednesday. (ANI Video Grab)

Statehood protest takes violent turn in Ladakh, BJP office set ablaze in Leh

India36 min ago

Protests in Ladakh turned violent as students and youth organisations demanded statehood and Sixth Schedule status. Two elderly protesters fainted, prompting a shutdown call. A BJP office and security vehicle were set on fire. Activist Sonam Wangchuk urged for a peaceful approach. The demand for Sixth Schedule status is due to Ladakh's tribal-majority population and direct central administration.

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