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February 10: News on the roll

  • February 10: News on the roll

    February 10: News on the roll

  • <p><b>A worker sits beside an oil tank at a storage facility of an oil company on the outskirts of New Delhi</b>
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State-owned Indian Oil Corporation (IOC) today reported an over two-fold jump in net profit to Rs 1,634 crore for the quarter ended December 31, 2010.
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Net profit was up 134.7% to Rs 1,634.76 crore in the October-December quarter from Rs 696.59 crore in the same period a year ago.
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The profit was higher after the government approved the release of an Rs 8,000 crore cash subsidy to IOC and the other state-owned fuel retailers to make up for half of the revenues they lost on selling diesel, domestic LPG and kerosene below cost in the third quarter.
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    A worker sits beside an oil tank at a storage facility of an oil company on the outskirts of New Delhi

    State-owned Indian Oil Corporation (IOC) today reported an over two-fold jump in net profit to Rs 1,634 crore for the quarter ended December 31, 2010.

    Net profit was up 134.7% to Rs 1,634.76 crore in the October-December quarter from Rs 696.59 crore in the same period a year ago.

    The profit was higher after the government approved the release of an Rs 8,000 crore cash subsidy to IOC and the other state-owned fuel retailers to make up for half of the revenues they lost on selling diesel, domestic LPG and kerosene below cost in the third quarter.

  • <p><b>The sun sets behind electric pylons in the northern Indian city of Allahabad</b>
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India on Thursday approved a follow-on public offer for state-run lender Power Finance Corp, according to a government statement.
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Power Finance Corp will issue 15% fresh equity shares and the government will sell 5% of its stake in the company in the follow-on public offer, it said.
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    The sun sets behind electric pylons in the northern Indian city of Allahabad

    India on Thursday approved a follow-on public offer for state-run lender Power Finance Corp, according to a government statement.

    Power Finance Corp will issue 15% fresh equity shares and the government will sell 5% of its stake in the company in the follow-on public offer, it said.

  • <p><b>A Rolls Royce car with its distinctive \"Spirit of Ecstacy\" hood ornament is seen at a showroom in London</b>
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Rolls-Royce posted a 4% rise in full-year profit, helped by solid growth at its civil aerospace and energy units and said it had paid most of the costs associated with last year&#39;s technical setbacks.
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The world&#39;s second-largest maker of aero engines on Thursday reported an underlying pretax profit of 955 million pounds ($1.54 billion) on revenues 6% higher at 11.08 billion pounds for the year to the end of December 2010.
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    A Rolls Royce car with its distinctive \"Spirit of Ecstacy\" hood ornament is seen at a showroom in London

    Rolls-Royce posted a 4% rise in full-year profit, helped by solid growth at its civil aerospace and energy units and said it had paid most of the costs associated with last year's technical setbacks.

    The world's second-largest maker of aero engines on Thursday reported an underlying pretax profit of 955 million pounds ($1.54 billion) on revenues 6% higher at 11.08 billion pounds for the year to the end of December 2010.

  • <p><b>A Twitter page is displayed on a laptop computer in Los Angeles</b>
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Google and Facebook, plus others, have held low level takeover talks with Twitter that give the Internet sensation a value as high as $10 billion, the Wall Street Journal reported.
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In December, Twitter raised $200 million in financing in a deal that valued it at $3.7 billion. The company, which allows users to broadcast 140-character messages to groups of followers, had 175 million users as of September.
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    A Twitter page is displayed on a laptop computer in Los Angeles

    Google and Facebook, plus others, have held low level takeover talks with Twitter that give the Internet sensation a value as high as $10 billion, the Wall Street Journal reported.

    In December, Twitter raised $200 million in financing in a deal that valued it at $3.7 billion. The company, which allows users to broadcast 140-character messages to groups of followers, had 175 million users as of September.

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