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Friday, July 08, 2005

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London blasts rock markets — Sensex down 142 points, Re hits 3-week low
THE stock markets took a tumble on Thursday as panic about the implications of the blasts in London set in. The markets opened weak on a note of correction and rising crude oil prices, but by 2 p.m., when news of the series of blasts in London ... More

P&G Hygiene to hive off detergent facility in M.P.
PROCTER & Gamble Hygiene and Health Care Ltd (PGHHL) today announced that it was considering hiving off its detergent manufacturing facility in Madhya Pradesh. In a notice to the Bombay Stock Exchange, the listed entity of the Procter and ... More

Nicholas to pick 17 pc stake in Canadian biotech firm
NICHOLAS Piramal India has said that it would be picking 17.1 per cent stake in Canadian biotech company BioSyntech Inc. NPIL will fork out about Rs 23 crore (C$6 million) toward this equity participation, a pharma industry representative ... More

Videocon group buys out Electrolux Kelvinator India
THE Videocon group on Thursday announced its second successive buyout in less than a fortnight involving a foreign player in the consumer electronics domain. The group will acquire the entire (91.85 per cent) shareholding of AB Electrolux ... More

British Airways, Air Sahara sign MoU to enhance cooperation
IN a move that could eventually see fares on the India-UK route drop by 10-15 per cent and increase air connectivity between the two nations, British Airways (BA) and Air Sahara on Thursday signed a memorandum of understanding to look at ... More

HDFC Bank plans to set up NBFC
HDFC Bank plans to set up a non-banking finance company (NBFC) to undertake fund-based activities. The bank management, according to Mr Jagdish Capoor, Chairman, has examined the issue of establishing an NBFC in line with the current regulatory ... More

Direct tax collections up 32 pc in Q1: CBDT chief
DIRECT tax collections have increased by 32 per cent in the first quarter of the current fiscal to about Rs 16,000 crore, a top Finance Ministry official has said. "This increase has come even after a more than 7 per cent drop in the personal ... More

A repeat of Madrid in London
The Al Qaeda is suspect No 1 for the serial blasts that rocked London on Thursday. Investigations by the security agencies of West Europe after the Madrid blasts last March had revealed that the Al Qaeda had significant support in the Muslim Diaspora of the Continent. B. Raman says the latest strike was surely planned to coincide with the G-8 meeting, to create maximum impact, and take advantage of the diverted attention of the British agencies in protecting the VIPs attending the summit. More

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