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India contracts 8 lakh tonnes of sugar exports so far

NEW DELHI Saddled with surplus stock, sugar mills in India — the world’s second largest producer, have contracted to export about 8,00,000 tonnes of the sweetener so far to countries like Middle East and Sri Lanka, a government official said. Out of the total contracted quantity, raw sugar comprises 6,00,000 tonnes and the rest 2,00,000 tonnes is white sugar, the official added. …

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Realme, Xiaomi hike prices of budget phones in India after rupee slumps to dollar

NEW DELHI In the wake of the depreciating rupee and rising input costs, Chinese handset maker Xiaomi on Saturday announced that it was increasing the prices of its budget smartphones Redmi 6 and Redmi 6A, along with Mi Powerbank 2i and Mi TV (32-inch Pro and 49-inch Pro variants). “Mi Fans! INR has depreciated against US$ by …

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Demonetisation, GST held back India’s economic: Raghuram Rajan

WASHINGTON Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India’s economic growth last year, former RBI Governor Raghuram Rajan has said, asserting that the current seven per cent growth rate is not enough to meet the country’s needs. Addressing an audience at …

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Thai businessman to buy Fortune magazine for $150 million

WASHINGTON Thai businessman Chatchaval Jiaravanon agreed Friday to buy Fortune magazine for $150 million in the latest deal for titles from the former Time Inc. family. Meredith Corp, the publishing group which acquired Time Inc. magazines last year, announced the deal to sell Fortune to the businessman who is affiliated …

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Not seeking Rs 3.6-lakh crore reserve transfer from RBI: Centre

NEW DELHI Confident of meeting fiscal deficit target, the government Friday clarified it is not seeking transfer of Rs 3.6 lakh crore reserves from the RBI and the only proposal under discussion is to fix appropriate economic capital framework of the central bank. “Lot of misinformed speculation is going around in media. …

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Firecracker sales drop 40%, makers seeks policy from Centre

KOLKATA Amid jitters in the Rs 20,000-core pan-India firecracker market in the wake of a Supreme Court order imposing stringent rules on their sale and use, its manufacturers and sellers in the country are witnessing a 40 per cent slump in sales during the ongoing festive season, officials said on Tuesday. They also sought …

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