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WPI inflation in July slips to 25-month low of 1.08%

PTI New Delhi Wholesale price-based inflation declined for the third consecutive month to a 25-month low of 1.08 per cent in July, mainly on account of subdued prices of food items, fuel and manufactured products, government data showed on Wednesday. The wholesale price index (WPI)-based inflation was at 2.02 per cent in June this year and 5.27 per cent in …

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RBI urged to extend moratorium

IANS Wayanad Former Congress chief and Wayanad MP Rahul Gandhi, here on Wednesday, urged Reserve Bank of India (RBI) Governor Shaktikanta Das for extension of moratorium on repayment of crop loans in Kerala in the wake of flood. “I request the RBI to take measures to extend the moratorium on repayment (of crop loans) to December 2019. I would be …

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Goyal inducts first CORAS commandos in Railways

IANS New Delhi Railway Minister Piyush Goyal on Wednesday inducted the Commando for Railway Security (CORAS) here and promised to set up a commando training centre in Haryana to modernise and train commandos of the Railway Protection Force (RPF). At a function at the New Delhi railway station, Goyal inducted the first batch of the CORAS commandos. Before that, the …

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Sensex plummets 624 points on global sell-offs; RIL soars 10%

PTI Mumbai BSE benchmark Sensex on Monday crashed about 624 points dragged by heavy losses in index heavyweights HDFC twins, Infosys, ITC and ICICI Bank amid sell-offs in global equities. Bucking the overall downtrend, shares of Reliance Industries (RIL) rallied nearly 10 per cent, capping the Sensex loss to a large extent. Apart from global concerns, investors remained jittery over …

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Silver touches all-time high mark of Rs 45,000; gold falls Rs 100

PTI New Delhi Silver prices on Tuesday soared Rs 2,000 to touch an all-time high mark of Rs 45,000 per kg, while gold declined by Rs 100 to Rs 38,370 per 10 gram in the national capital, according to the All India Sarafa Association. Besides increased offtake by industrial units and coin makers, robust global trend mainly led to the …

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Government seeks bids for Pawan Hans by Aug 22

IANS New Delhi The government has initiated the second step for disinvestment of Pawan Hans Limited (PHL), inviting expression of interest from the prospective bidders to sell its stake in the helicopter PSU. The Centre is planning to exit Pawan Hans by selling its 51 per cent stake along with the transfer of management control. The Expression of Interest (EOI) …

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Auto sales in India sees sharpest fall in July

PTI New Delhi Automobile sales in India witnessed its sharpest decline in nearly 19 years in July, dropping 18.71 per cent, rendering almost 15,000 workers jobless over the past two-three months as the sector reels under a prolonged slump, auto industry body SIAM reported on Tuesday. As per data released by the Society of Indian Automobile Manufacturers (SIAM), vehicle sales …

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RIL to set up task force for investments in J&K, Ladakh

IANS Mumbai Reliance Industries Ltd (RIL) Chairman Mukesh Ambani on Monday said that the company is committed to support the developmental needs of the new Union Territories of Jammu and Kashmir and Ladakh and that it will create a task force to explore investment opportunities in region. At the 42nd annual general meeting of the company, he said that the …

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World’s largest water pump house begins operation in Telangana

IANS Hyderabad Lakshmipur pump house, a key component of Kaleshwaram Lift Irrigation Project (KLIP) and claimed to be the world’s largest pump house, has successfully commenced operations in Telangana, it was announced on Monday. Megha Engineering and Infrastructures Limited (MEIL) unveiled Laximpur Underground Pumping Station (LUPS), also called as the Package 8 of the mega project across the Godavari River. …

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Inching closer to a global recession: Morgan Stanley

IANS Mumbai Economies globally are showing signs of acute weakness and the next stage could be a worldwide recession, if Morgan Stanley is to be believed, in nine months from now. Escalation in trade tension between the two largest economies — US and China — is the chief factor nudging the world economy towards a recession. Warning signals are also …

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