Claims management companies as also financial services firms should be banned from cold calling consumers, according to charity Citizens Advice, after UK telecoms regulator Ofcom revealed that eigh…
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The Meteoroid Environment Office of NASA witnessed the most powerful meteor strike on the moon ever recorded in eight years since its inception. On 17 March, a meteor travelling at 90,000 k…
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Civil aviation minister Ajit Singh today criticised the EU for overstepping its jurisdiction
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Tata Sons Ltd on Friday confirmed that its decision to cancel its offer for sale (OFS) of shares in its subsidiary Tata Teleservices (Maharashtra) Ltd. The OFS was announced on Wednesday, when Tata Sons said that it would sell a total of 51,623,679 shares, or 2.72 per cent of the equity capital of the Tata Teleservices (Maharashtra) Ltd, on May 17. But, the company yesterday confirmed that it had cancelled the sale. In a filing to the Bombay Stock Exchange (BSE), the company said, “Tata Sons Limited has now informed BSE that they have decided to cancel the sale in full.” read more
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The prices of several life-saving medicines will soon fall by up to 80 per cent in India, thanks to the government’s new drug price control order. Issued by the union government, the long-pending drug price control order has paved the way for the implementation of pharmaceutical pricing control policy across the country. It is expected to reduce the prices of drugs on an average by 20-25 per cent, and some cancer drugs by up to 80 per cent. read more
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The hunt for other worlds ‘out there’ has hit a speed bump with the Kepler space telescope out of action. On Tuesday, Nasa scientists found the telescope in ”safe mode”, and an investigation has …
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The Brihanmumbai Municipal Corporation (BMC) on Thursday urged traders to call off their strike in opposition of local body tax (LBT), stressing that it was open for discussions over the issue. Municipal Commissioner Sitaram Kunte said that the traders’ stir against LBT, which entered the 26th day, was causing a big inconvenience to the citizens. Speaking on the topic, Kunte said, “The Mumbai Municipal Corporation Act, 1888 needs to be amended to introduce LBT in the city. We are still drafting amendments to the Act and rules based on which it would be executed.” read more
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While the global demand for gold declined 13 per cent in Q1 of this year, India’s demand for the precious yellow metal jumped 27 per cent year-on-year, according to latest figures released by the World Gold Council (WGC). Indians’ demand for jewellery jumped 15 per cent year-on-year to 159.5 tonnes in the first quarter of 2013, while investment demand climbed a whooping 52 per cent to 97 tonnes. China reported gold demand growth at 27 per cent. Therefore, India’s demand growth for the yellow metal surpassed China’s demand growth by 7 per cent. read more
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Households which have multiple LPG (cooking gas) connections and where the obligatory Know Your Customer (KYC) norm has not been completed will not get cylinders (including non-subsidised) from June 1, Indian Oil Corporation (IOC) warned in a press release. Public Sector Undertaking IOC said, “No transactions, including delivery of non-subsidised cylinders, will be permitted in such cases once such connections have been blocked.” Oil marketing companies, viz. IOC, BPCL and HPCL, have shared their customer data in order to identify households that have multiple LPG connections. read more
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Global firms are making huge investments in India’s consumer market, despite the overall weakness in the Asia’s third-largest economy. In the recent past, consumer goods giant Unilever announced its decision to invest $5.4 billion to increase its stake in its Indian arm Hindustan Unilever Ltd. Available figures suggest that foreign companies collectively spent around $9.86 in mergers and acquisitions in India this year. The figure is the highest in Asia. read more
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