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Flipkart raises $700 million in fresh funding
Published on Saturday, December 20, 2014 5:34 PM

MUMBAI  - Flipkart, India's largest online retailer, on Saturday said it had raised funding worth $700 million, as it tries to compete with Amazon, which is rapidly scaling up operations in the country.

Flipkart, founded in 2007 by two former Amazon employees, has been in talks in recent weeks to rai ...

Flipkart raises $700 million in fresh funding
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Exclusive - India looks to sway Americans with nuclear power insurance planprime
Published on Saturday, December 20, 2014 10:35 AM

By Tommy Wilkes and Sanjeev Miglani

NEW DELHI  - India is offering to set up an insurance pool to indemnify global nuclear suppliers against liability in the case of a nuclear accident, in a bid to unblock billions of dollars in trade held up by concerns over exposure to risk.

Prime Mini ...

Exclusive - India looks to sway Americans with nuclear power insurance planprime
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SpiceJet rescue plan marks bold bet on Indian aviation recovery
Published on Saturday, December 20, 2014 10:22 AM

By Tommy Wilkes

NEW DELHI  - The co-founder of SpiceJet is leading a $240 million rescue effort to pull the low-cost carrier back from the brink of collapse, in a bold bet on the recovery of an industry plagued by high costs and heavy losses.

A source with direct knowledge of discussions ...

SpiceJet rescue plan marks bold bet on Indian aviation recovery
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RBI working to remove 2-step security for small online transactions
Published on Saturday, December 20, 2014 5:58 PM

MUMBAI  - The Reserve Bank of India is working on a system that would allow small value electronic transactions without a second level of verification that is now required for most transactions involving domestic credit cards, Deputy Governor H.R. Khan said on Friday.

Khan said the central bank was likel ...

RBI working to remove 2-step security for small online transactions
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Government to compensate states for revenue losses from new GST
Published on Friday, December 19, 2014 6:24 PM

NEW DELHI  - India will compensate its state governments for revenue losses due to the new nationwide Goods and Service Tax (GST), which is targeted to be implemented on April 1, 2016, the finance minister said on Friday.

Arun Jaitley told reporters that petroleum products would be part of the new GST. ...

Government to compensate states for revenue losses from new GST
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Modi may use executive order to pass insurance, coal bills
Published on Friday, December 19, 2014 6:18 PM

By Rajesh Kumar Singh

NEW DELHI  - Prime Minister Narendra Modi may consider an executive order to pass legislation overhauling the insurance and coal industries after parliamentary clashes raised concern about his ability to pass reforms to revive the economy.With three days remaining of this parliament ...

Modi may use executive order to pass insurance, coal bills
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Crank up public spending to revive growth - chief economic adviser
Published on Friday, December 19, 2014 5:15 PM

By Rajesh Kumar Singh

NEW DELHI - India should increase public spending to boost economic growth in the medium term as there have been no signs of private investment picking up, chief government economic adviser Arvind Subramanian said on Friday.

India has had two successive years of below 5 ...

Crank up public spending to revive growth - chief economic adviser
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Govt tables GST bill in parliament
Published on Friday, December 19, 2014 5:09 PM

NEW DELHI - The government presented to parliament a bill for a common goods and services tax across the country on Friday, pressing on with a key piece of reform to replace a myriad range of state taxes.

The bill introduced by Finance Minister Arun Jaitley needs the support of two thirds of members of parlia ...

Govt tables GST bill in parliament
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D&B expects inflation to pick up in December
Published on Friday, December 19, 2014 4:58 PM

Dun & Bradstreet (D&B) expects inflation to reverse its course in December and rise, even as calls get louder for an interest rate cut early next year amid a slowdown in Asia’s third biggest economy.

D&B has attributed the recent sharp retreat in inflationary pressures to a base effect which may reverse in the com ...

D&B expects inflation to pick up in December
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