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Thursday, February 03, 2005

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S&P upgrades foreign currency rating
STANDARD & POOR'S today upgraded its long-term foreign currency rating on India by one notch to `BB+' with a stable outlook. The agency also affirmed the long-term local currency and short - term ratings at `BB+'. The `BB+' rating is still ... More

Upgrade propels rupee to 5-year high
The rupee ended at a five-year high against the dollar on Wednesday, buoyed by a number of positive events, including the news of Standard & Poor's (S&P) foreign currency upgrade. At the end of the volatile session, the rupee finished at ... More

FDI cap in telecom hiked to 74 pc
THE Union Cabinet today went ahead with the decision to raise the foreign direct investment (FDI) limit in the telecom sector to 74 per cent from the current ceiling of 49 per cent. Certain conditions have also been specified while allowing the ... More

Telecom FDI hike may create stronger players
THE telecom industry on Wednesday said that the decision to increase the foreign direct investment (FDI) cap would result in the emergence of stronger players, which will help the industry achieve its teledensity targets. The industry also said ... More

Left to discuss hike today
STRONGLY opposing the Government's decision to increase the foreign direct investment (FDI) limit in the telecom sector to 74 per cent, the four Left parties have convened a meeting here on Thursday to chalk out their course of action. Party ... More

Warburg offloads 3 pc in Bharti Tele — 6.27 cr shares sold for Rs 1,355 cr
PRIVATE equity investor Warburg Pincus has offloaded a 3-per cent stake in Bharti Tele-Ventures Ltd (BTVL), selling over 6.27 crore shares for Rs 1,355 crore or over $308 million to a group of foreign funds. Warburg, according to market ... More

States to get 30 pc share in Central taxes
STATE governments would be entitled to a 30.5 per cent share of the proceeds from all Central taxes and duties with effect from the coming fiscal. This is as against their existing entitlement of 29.5 per cent. The Union Cabinet on Wednesday ... More

Govt approves electricity policy — Aim to increase per capita availability to over 1,000 units
THE Union Cabinet on Wednesday cleared the National Electricity Policy, which aims at providing electricity connections to all households over the next five years. The policy, which has been formulated under provisions of Section 3 of the ... More

BSNL to get Rs 2,700-cr relief
THE Union Cabinet today approved about Rs 2,700 crore worth of relief measures for BSNL for the current and the coming financial years. This was announced by the Finance Minister, Mr P. Chidambaram, after a Cabinet meeting. The financial ... More

NRL launches new-look petro retail outlet
STRAINING to look out of your car window to ensure that the petrol pump attendant is filling up right can sometimes produce a crick in your neck. But not anymore if, that is, you are at Numaligarh Refinery Ltd (NRL) station. As part of its ... More

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