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Marks & Spencer to scale up India ops
British retail major Marks & Spencer is looking at scaling up its India operations and plans to open at least 50 more outlets in the country over the next few years.

Govt to introduce e-passports
In an effort to check forgeries and misuse of passports, the government is rolling out e-passports that will carry biometric information in a chip.

News of the day

Markets snap four-day winning streak
The markets ended their four-day winning streak as global indices closed lower. The Sensex closed at 17,343, weaker by 57 points, and the Nifty closed flat at 5,169. The broader indices, however, outperformed the benchmark indices. The consumer durables pack was the leading sectoral gainer for the second day in a row while FMCG and metals showed weakness.
International Business

ICICI Bank raises $750 m from 5-yr bonds

ICICI Bank today said it has raised $750-million (around Rs 3,465 crore) by issuing five-year bonds at its Bahrain branch. - Tata Steel completes $546-mn exchange offer for CARS - ICICI, HUL among world"s best companies for leaders - Markets have a sedate start - ICICI takes up staff retraining to brush up image - ICICI to raise funds for overseas business - Risk management minimises downside The issue, which had an order book of over $3-billion, was participated by over 250 investors, the country"s second largest lender said in a press release here. "The 5.33-year fixed rate notes carry a coupon of 5.5 per cent, which translates to 292.6 basis points spread over equivalent Libor," the bank said. Last month, the country"s largest lender State Bank of India raised $750-million through the issue of five-year bonds abroad.


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