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Business

Bank of Baroda Shuts Down Subsidiary in Ghana Under PSB Manthan Programme

The closure of overseas bank branches is part of government’s plan to rationalise and streamline operations under the reforms agenda for the banking sector approved in 2017 under the then finance minister Arun Jaitley.
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Business

Amrapali: ED to Question JP Morgan Officials Including Chinese Director

The investigating agency has now sought all financial documents, agreements, memorandum of understanding and others from JP Morgan India.
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Business

FinMin Proposes Restriction on Foreign Investment in Pension Funds from China amid Border Tension

The violent clash between Indian and Chinese troops stirred anti-China sentiments in the country, with protestors and traders’ bodies calling to boycott Chinese products.
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Business

Record Investments Make RIL Net Debt-Free, 9 Months Ahead Of The Target

Reliance Industries Limited (RIL) has become debt-free, nine months ahead of its March 2021 target.
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Business

Saudi Giant Aramco Cuts Hundreds of Jobs amid Oil Market Downturn, Say Sources

Most of those who lost jobs at Aramco were foreigners, the sources said. One source estimated that 500 people had been laid off, adding that the job losses were mostly based on performance and similar actions took place each year.
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Business

India May Impose Anti-dumping Duty on Certain Steel Products From EU, Japan, US And Korea

JSW Vallabh Tinplate Pvt Ltd and The Tinplate Company of India Ltd have filed the application for imposition of the anti-dumping duty on imports of coated/plated tin mill flat-rolled steel products.
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Business

Govt Tells Public Sector Banks to Defer Avoidable Expenditure, Reduce Costs in Wake of Pandemic Crisis

The advisory also comes against the backdrop of Punjab National Bank recently purchasing three Audi cars worth over Rs 1.30 crore for travel of its top executives.
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Business

Real Estate Most Preferred Asset Class for Investment, But Potential Homebuyers Cautious: Survey

About 53 per cent are confident of income for the coming six months while the same percentage of respondents said that they have ‘only postponed’ their search for a home for the coming six months.
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Business

SBI Plans Rs 20,000 Crore Capital Mop-up by March 2021, to Seek Shareholders’ Nod in July

The lender said it will seek shareholders’ nod in the meeting “to create, offer, issue and allot, such number of equity shares of Re 1 each, for an amount not exceeding Rs 20,000 crore.
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Business

Sensex Surges 376 Points in Line with Global Rally

The 30-share index, however, briefly turned negative in afternoon session after escalation in India-China border tension, but managed to recoup losses and settled 376.42 points, or 1.13 per cent, higher at 33,605.22.