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Mar 28: BRICS Summit

  • Mar 28: BRICS Summit

    Mar 28: BRICS Summit

  • I-T freezes Uninor assets

    A girl walks past in front of a closed shop displaying the Uninor logo on its shutter in Mumbai

    The income tax department has frozen the shares owned by real estate company Unitech Ltd in its mobile phone joint venture with Norway's Telenor, the joint venture said on Wednesday, citing notices from the tax authorities.

    The JV, which operates under the Uninor brand name, said in a statement the stake was owned by three units of Unitech, but did not elaborate. It said the move would not have any effect on its operations.

    (Pictures by Reuters)

  • Oil Ministry wants more cash

    An employee fills a car tank at a petrol station in Hefei, Anhui province

    Oil ministry has sought an additional cash compensation of Rs 40,000 cr from the finance ministry to partially cover revenue losses of state-run companies that sell diesel, kerosene, and cooking gas at state-set subsidised rates, the oil secretary said on Wednesday.

    GC Chaturvedi said the oil ministry has also sought Rs 5,000 crore as compensation for revenue losses incurred on retail sales of petrol during the current fiscal year to March.

  • Gold trade weak over strike

    A goldsmith poses with gold bangles in his jewellery shop in Amman

    Gold buying in the country, the world's biggest buyer of the yellow metal, was weak, as jewellers' strike extended to its twelfth day on Wednesday.

    "Business is very dull, there have been no imports as well," said a dealer at a private bank. Jewellers have been protesting from March 17 the import and excise duties on gold.

  • Apple to refund Oz buyers

    An Apple employee counts money as a customer purchases Apple's new iPad at the 5th Avenue Apple Store in New York

    Apple will email all Australian buyers of its new iPad to offer them a refund, a lawyer for the company said on Wednesday, after the nation's consumer watchdog accused it of misleading advertising over one key aspect of the product.

    The Australian Competition and Consumer Commission has taken legal action to ensure Apple makes consumers aware its third-generation iPad cannot connect to a 4G mobile data network in Australia due to technical incompatibility.