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Modi Govt Considers Selling $3 Billion Stake In ONGC

Modi Govt Considers Selling $3 Billion Stake In ONGC

NEW DELHI – Prime Minister Narendra Modi’s government will decide next month on the sale of a $3 billion stake in state oil firm Oil and Natural Gas Corp, in a major test of whether he can follow through on reforms outlined in his first budget.
The BJP won May’s Lok Sabha election by a landslide [...]

July 19th, 2014 | Posted in Business | Read More »

BRICS Development Bank Launched And Will Have First President From India

BRICS Development Bank Launched And Will Have First President From India

BRICS group of emerging powers launched a $50 billion development bank on Tuesday.
FORTALEZA, Brazil – The BRICS group of emerging powers launched a $50 billion development bank on Tuesday to be based in Shanghai and a $100 billion crisis contingency fund, according to a joint declaration.
The new development bank’s first president will be from India [...]

July 19th, 2014 | Posted in Business | Read More »

India’s Regulator Report Says Auction rigged For Broadband Spectrum Held By Reliance Jio, Should Be Cancelled

India’s Regulator Report Says Auction rigged For Broadband Spectrum Held By Reliance Jio, Should Be Cancelled

RIL acquired Infotel Broadband Services within hours of it winning the spectrum auction and later renamed it Reliance Jio.
NEW DELHI -The CAG has suggested cancelling nationwide broadband spectrum allocated to Infotel Broadband Services, now a Reliance Industries company, for allegedly rigging the auction and violating rules.
CAG in a draft report sent to the department of [...]

July 11th, 2014 | Posted in Business | Read More »

French Bank BNP Paribas Agrees To Pay Massive $8.9 Billion Fine

French Bank BNP Paribas Agrees To Pay Massive $8.9 Billion Fine

NEW YORK -French bank BNP Paribas has agreed to pay US authorities a $8.9 billion fine to avoid being tried in court for dealing with US-blacklisted countries, sources close to the matter told AFP.
The deal ends months of haggling which saw French President Francois Hollande pressing his US counterpart Barack Obama to intervene and lighten [...]

July 11th, 2014 | Posted in Business | Read More »

Microsoft Founder Bill Gates Is Wealthiest Living U.S. Entrepreneur

Microsoft Founder Bill Gates Is Wealthiest Living U.S. Entrepreneur

SEATTLE – Microsoft founder Bill Gates is the wealthiest living US entrepreneur, with an estimated net worth of USD 80.2 billion, according to Wealth-X.
The list of 10 billionaires was dominated by “technopreneurs” as six of them made their fortunes from technology or technology-related businesses, including Gates, Larry Ellison of Oracle and Facebook co-founder Mark Zuckerberg.
The [...]

July 11th, 2014 | Posted in Business | Read More »

Anil Ambani’s RCom Raises Rs. 6100 Crore In Share Sale

Anil Ambani’s RCom Raises Rs. 6100 Crore In Share Sale

HT Correspondent, Hindustan TimesĀ  New Delhi, June 25, 2014
NEW DELHI – Anil Ambani-led Reliance Communications Ltd on Wednesday raised over Rs. 6,100 crore from the sale of shares to institutional investors, in the biggest fund raising through a secondary issue by an Indian company. The move is aimed at paring its Rs. 40,177.6-crore pile of [...]

July 2nd, 2014 | Posted in Business | Read More »

Russian Franchise Delivers Pizza By Drone

Russian Franchise Delivers Pizza By Drone

MOSCOW – Flying pizza! A Russian pizza chain claims to have successfully carried out the first commercial delivery of pizzas via a drone.
DoDo Pizza’s first unmanned delivery was made over the weekend in the northern Russian city Syktyvkar. The drone completed the order in just 30 minutes.
“Along with one Moscow-based company we have conducted the [...]

July 2nd, 2014 | Posted in Business | Read More »

Drugs, Prostitution Boost Dutch Economy

Drugs, Prostitution Boost Dutch Economy

About half of the consumption is domestic, much of it in coffee shops and brothels, and the rest is from export, primarily of drugs, according to Statistics Netherlands.
AMSTERDAM – The Netherlands’ famous red light districts and “coffee” shops selling sex and drugs contribute 2.5 billion a year to the national economy, or slightly more than [...]

July 2nd, 2014 | Posted in Business | Read More »

Russian Franchise Delivers Pizza By Drone

Russian Franchise Delivers Pizza By Drone

MOSCOW – Flying pizza! A Russian pizza chain claims to have successfully carried out the first commercial delivery of pizzas via a drone.
DoDo Pizza’s first unmanned delivery was made over the weekend in the northern Russian city Syktyvkar. The drone completed the order in just 30 minutes.
“Along with one Moscow-based company we have conducted the [...]

July 2nd, 2014 | Posted in Business | Read More »

Drugs, Prostitution Boost Dutch Economy

Drugs, Prostitution Boost Dutch Economy

About half of the consumption is domestic, much of it in coffee shops and brothels, and the rest is from export, primarily of drugs, according to Statistics Netherlands.
AMSTERDAM – The Netherlands’ famous red light districts and “coffee” shops selling sex and drugs contribute 2.5 billion a year to the national economy, or slightly more than [...]

July 2nd, 2014 | Posted in Business | Read More »