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BSE to introduce new corporate debt market platform next week
The Bombay Stock Exchange (BSE) will introduce a secured settlement platform for the Rs 1,500 crore Indian Corporate Debt Market (ICDM) next week.

Sterlite Industries posts 42% fall in Q1 net
Sterlite Industries, the Vedanta Group diversified base metals producer, has posted 42 per cent decline in net profit at Rs 924 crore in the first quarter of the current financial as compared to Rs 1,595 crore in the same quarter of the previous year. Net sales of the company also plunged by 21 per cent to Rs 4,537 crore from Rs 5,770 crore. Earnings per share (EPS) slipped, therefore, to Rs 9.49 from Rs 16.25 in the first quarter of the previous year.

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Insurers wait yet another year for increase in FDI
The year 2009 saw insurance firms waiting for easing of foreign direct investment (FDI) norms, just as they have done every year for the last five years, but there is promise of the law being amended to this effect next year.
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SC restores powers to Prasar Bharati CEO

In a relief to Prasar Bharati CEO B S Lalli, the Supreme Court today restored to him the executive powers taken away by a recent order of the Delhi High Court. - Sibal bats for teaching Hindi in all schools - BSE launches BSE IPO index - "PPPs today are nothing but business deals" - SC pulls up Ranbaxy for delayed raising of refund issue - PFRDA working on corpus mgmt scheme for corporates - SC notice to Centre, CBEC on Hindustan Coca-Cola"s plea The apex court stayed the July 27 order of the High Court that directed that the day-to-day work of the public broadcaster would be handled by a three-man team consisting the CEO, Member (Finance) and Member (Personnel) of the board jointly. A bench headed by Chief Justice K G Balakrishnan partially allowed Lalli"s challenge to the High Court order with regard to his powers and said that he would function as per the Prasar Bharati Act which states that the CEO shall exercise powers delegated by the board. At the same time, the apex court did not interfere with another part of the High Court order directing an enquiry by the Central Vigilance Commission (CVC) into alleged financial irregularities in the Prasar Bharati Corporation. Infact, Lalli also sought such a probe before the Supreme Court. The court then directed that the CVC probe as well as a special audit of Prasar Bharati be completed within six weeks.


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