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November 10: At a glance

  • November 10: At a glance

    November 10: At a glance

  • <P><b>Workers add the finishing touches to a G20 poster in Seoul, behind a statue of Admiral Yi Sun-sin</b>
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A final statement to be released at the end of the Group of 20 summit will not comment on any individual currency, an Indian official close to the negotiations said on Wednesday.
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Germany and several other nations have hit out at a US plan to consider limiting current account imbalances, while some countries, notably China, have come in for criticism for intervening in currency markets to get a trade advantage.
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The Indian official who has knowledge of the talks also said many of the deputies negotiating the communique agreed that the yuan could not be singled out for criticism.
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    Workers add the finishing touches to a G20 poster in Seoul, behind a statue of Admiral Yi Sun-sin

    A final statement to be released at the end of the Group of 20 summit will not comment on any individual currency, an Indian official close to the negotiations said on Wednesday.

    Germany and several other nations have hit out at a US plan to consider limiting current account imbalances, while some countries, notably China, have come in for criticism for intervening in currency markets to get a trade advantage.

    The Indian official who has knowledge of the talks also said many of the deputies negotiating the communique agreed that the yuan could not be singled out for criticism.

  • <P><b>A man goes through a revolving door at the Posco headquarters in Seoul</b>
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A panel assessing South Korean firm Posco&#39;s proposed $12 billion steel plant has given the firm 10 days to submit more information, delaying a decision on India&#39;s biggest foreign direct investment, sources said on Tuesday.
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The delay means Prime Minister Manmohan Singh, who is monitoring the project as he seeks closer ties with Seoul, will fly to the Group of 20 meeting in South Korea on Wednesday without a firm government commitment to the project.
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The verdict of the panel set up by the Environment Ministry, which is not binding but is required before Environment Minister Jairam Ramesh makes his final decision, was expected this week.
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    A man goes through a revolving door at the Posco headquarters in Seoul

    A panel assessing South Korean firm Posco's proposed $12 billion steel plant has given the firm 10 days to submit more information, delaying a decision on India's biggest foreign direct investment, sources said on Tuesday.

    The delay means Prime Minister Manmohan Singh, who is monitoring the project as he seeks closer ties with Seoul, will fly to the Group of 20 meeting in South Korea on Wednesday without a firm government commitment to the project.

    The verdict of the panel set up by the Environment Ministry, which is not binding but is required before Environment Minister Jairam Ramesh makes his final decision, was expected this week.

  • <P><b>A worker opens the door of a new car on display at a showroom in Mumbai</b>
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Car sales in India rose an annual 38 per cent in October to record levels, as festive season demand combined with the rapidly expanding economy to pull buyers into showrooms.
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Demand in India usually rises during the festive season that starts in September and peaks in November after Diwali, the Hindu festival of lights, when most workers get their annual bonuses.</P>

    A worker opens the door of a new car on display at a showroom in Mumbai

    Car sales in India rose an annual 38 per cent in October to record levels, as festive season demand combined with the rapidly expanding economy to pull buyers into showrooms.

    Demand in India usually rises during the festive season that starts in September and peaks in November after Diwali, the Hindu festival of lights, when most workers get their annual bonuses.

  • <P><b>A boy talks on a mobile phone as he walks past a billboard of Bharti Airtel</b>
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India&#39;s top mobile operator Bharti Airtel signalled stability in its India operations after a cutthroat pricing war but losses from its Africa business raised concerns about its turnaround strategy.
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Bharti&#39;s quarterly profit fell by a more-than-expected 27 per cent, weighed down by the effects of a price war in its core Indian market, and analysts said lower margins in Africa could hit overall profitability in future quarters.
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    A boy talks on a mobile phone as he walks past a billboard of Bharti Airtel

    India's top mobile operator Bharti Airtel signalled stability in its India operations after a cutthroat pricing war but losses from its Africa business raised concerns about its turnaround strategy.

    Bharti's quarterly profit fell by a more-than-expected 27 per cent, weighed down by the effects of a price war in its core Indian market, and analysts said lower margins in Africa could hit overall profitability in future quarters.

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