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February 11: The day in pictures

  • February 11: The day in pictures

    February 11: The day in pictures

  • <p><b>Mobile telecommunication giant Nokia&#39;s CEO Stephen Elop speaks during an award presentation in London </b>
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Nokia and Microsoft have teamed up to take on Google and Apple in the fast-growing smartphone market as the Finnish cellphone maker attempts to regain its leading position in the sector.
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Nokia said on Friday it would use Windows Phone as the software platform for its smartphones as part of new chief executive Stephen Elop&#39;s overhaul of the world&#39;s biggest cellphone maker.
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Microsoft&#39;s Windows Phone platform is widely recognised by industry experts as a leading edge technology but has not yet gained success among consumers.
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&#39;This is a partnership born out of both parties&#39; fear of marginalisation at the hands of Apple and Google but there is no silver bullet,&#39; said analyst Geoff Blaber from CCS Insight.</p>

    Mobile telecommunication giant Nokia's CEO Stephen Elop speaks during an award presentation in London

    Nokia and Microsoft have teamed up to take on Google and Apple in the fast-growing smartphone market as the Finnish cellphone maker attempts to regain its leading position in the sector.

    Nokia said on Friday it would use Windows Phone as the software platform for its smartphones as part of new chief executive Stephen Elop's overhaul of the world's biggest cellphone maker.

    Microsoft's Windows Phone platform is widely recognised by industry experts as a leading edge technology but has not yet gained success among consumers.

    'This is a partnership born out of both parties' fear of marginalisation at the hands of Apple and Google but there is no silver bullet,' said analyst Geoff Blaber from CCS Insight.

  • <p><b>Prime Minister Manmohan Singh attends a awards ceremony in New Delhi </b>
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Prime Minister Manmohan Singh faces more political headaches after the Supreme Court pressed for deeper probes into a multi-billion dollar corruption case and a ruling coalition ally was implicated in the scandal.
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Allegations the government may have lost up to $39 billion in revenues after firms were awarded telecoms deals at rock-bottom prices in return for kickbacks have rocked the ruling coalition and compounded the fragility of India&#39;s fragile investment climate.
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The Supreme Court, increasingly assertive under its new chief justice, told the federal police agency to go after more company executives and politicians and set up a special court to investigate India&#39;s biggest graft case in decades.
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    Prime Minister Manmohan Singh attends a awards ceremony in New Delhi

    Prime Minister Manmohan Singh faces more political headaches after the Supreme Court pressed for deeper probes into a multi-billion dollar corruption case and a ruling coalition ally was implicated in the scandal.

    Allegations the government may have lost up to $39 billion in revenues after firms were awarded telecoms deals at rock-bottom prices in return for kickbacks have rocked the ruling coalition and compounded the fragility of India's fragile investment climate.

    The Supreme Court, increasingly assertive under its new chief justice, told the federal police agency to go after more company executives and politicians and set up a special court to investigate India's biggest graft case in decades.

  • <p><b>People walk in the lobby of a DBS Bank building in Singapore </b>
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DBS, Southeast Asia&#39;s biggest bank, said the bank would want to have 50 branches in China over the next three years and could do the same in India if it could set up a locally incorporated banking unit.
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\"We want to try and get to 50 branches in China in the next three years,\" CEO Piyush Gupta told a news conference.
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\"If the subsidisation thing works out, we probably want to do the same in India in the next three years.\"
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The bank has 16 outlets, including 8 branches, in China, where it has a locally incorporated unit. It has 12 branches in India.</p>

    People walk in the lobby of a DBS Bank building in Singapore

    DBS, Southeast Asia's biggest bank, said the bank would want to have 50 branches in China over the next three years and could do the same in India if it could set up a locally incorporated banking unit.

    \"We want to try and get to 50 branches in China in the next three years,\" CEO Piyush Gupta told a news conference.

    \"If the subsidisation thing works out, we probably want to do the same in India in the next three years.\"

    The bank has 16 outlets, including 8 branches, in China, where it has a locally incorporated unit. It has 12 branches in India.

  • <p><b>Technicians work on engines used for water pumps inside a manufacturing unit in Rajkot, 216 km (134 miles) west of Ahmedabad</b>
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India&#39;s annual industrial output in December rose at its slowest pace in 20 months on a higher base last year and stretched capacities at factories, but the 
Reserve Bank will likely continue tightening monetary policy to tame high headline inflation.
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Output rose 1.6% from a year earlier compared with a median forecast of 2% in a Reuters poll.
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Growth in industrial output was 16.8% last December. The RBI, which has raised interest rates seven times over since March, is expected to continue tightening monetary policy as stubbornly high food prices drive broader inflation.
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India is suffering from high inflation that could eat into growth, with signs investor confidence in Asia&#39;s third largest economy was waning amid lack of economic reforms and a massive telecoms corruption scandal that has weakened the ruli

    Technicians work on engines used for water pumps inside a manufacturing unit in Rajkot, 216 km (134 miles) west of Ahmedabad

    India's annual industrial output in December rose at its slowest pace in 20 months on a higher base last year and stretched capacities at factories, but the Reserve Bank will likely continue tightening monetary policy to tame high headline inflation.

    Output rose 1.6% from a year earlier compared with a median forecast of 2% in a Reuters poll.

    Growth in industrial output was 16.8% last December. The RBI, which has raised interest rates seven times over since March, is expected to continue tightening monetary policy as stubbornly high food prices drive broader inflation.

    India is suffering from high inflation that could eat into growth, with signs investor confidence in Asia's third largest economy was waning amid lack of economic reforms and a massive telecoms corruption scandal that has weakened the ruli

  • <p><b>General Motors SUV&#39;s are displayed in an autosales lot in Troy, Michigan</b>
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General Motors Co and Chrysler Group LLC could award some managers bonuses of up to 50% of their salary, Bloomberg reported on Thursday, citing three people familiar with the matter.
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GM plans to pay 26,000 US employees bonuses as high as 50%, Bloomberg reported. Most managers will receive bonuses between 15% to 20% of their annual salary.
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Chrysler&#39;s bonuses for its 10,755 salaried workers will average about $10,000 and could be paid as soon as Friday. Some employees who are not subject to pay restrictions could net as much as half their salary, according to Bloomberg.
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    General Motors SUV's are displayed in an autosales lot in Troy, Michigan

    General Motors Co and Chrysler Group LLC could award some managers bonuses of up to 50% of their salary, Bloomberg reported on Thursday, citing three people familiar with the matter.

    GM plans to pay 26,000 US employees bonuses as high as 50%, Bloomberg reported. Most managers will receive bonuses between 15% to 20% of their annual salary.

    Chrysler's bonuses for its 10,755 salaried workers will average about $10,000 and could be paid as soon as Friday. Some employees who are not subject to pay restrictions could net as much as half their salary, according to Bloomberg.

  • <p><b>A diamond businessmen desmonstrates a process at a diamond cutting and polishing factory in Surat in Gujarat</b>
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France-based luxury conglomerate LVMH, through its unit L Capital, is set to acquire a significant minority stake in Gitanjali Gems&#39; proposed unit that will control the Indian firm&#39;s branded jewellery and retail businesses.
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The deal has been estimated at $100-125 million, said two unidentified persons.
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L Capital will pick up stake using money from its $500-million L Capital Asia Fund, which was raised in 2010.
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L Capital India&#39;s senior official, Anuradha Raja, declined comment on the transaction.
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    A diamond businessmen desmonstrates a process at a diamond cutting and polishing factory in Surat in Gujarat

    France-based luxury conglomerate LVMH, through its unit L Capital, is set to acquire a significant minority stake in Gitanjali Gems' proposed unit that will control the Indian firm's branded jewellery and retail businesses.

    The deal has been estimated at $100-125 million, said two unidentified persons.

    L Capital will pick up stake using money from its $500-million L Capital Asia Fund, which was raised in 2010.

    L Capital India's senior official, Anuradha Raja, declined comment on the transaction.

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