Saturday, 16 November 2013

G.k. business news (IIFT,SNAP,CMAT)-3

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  • WTO cuts 2013 global trade forecast to 3.3 %
The World Trade Organization (WTO) slashed its forecast for trade growth in 2013. It cut its forecast for
global trade growth in 2013 to 3.3 per cent from 4.5 per cent and said trade grew only 2 per cent in 2012.

  • IPL tickets in Chhattisgarh to be tax free
Chhattisgarh Government has decided to exempt the tickets of two IPL season-6 matches from
entertainment tax. The matches will be played at Naya Raipur on April 28 and on May 1.
  • Mahindra Reva in tech tie-up with Vodafone
Mahindra Reva Electric Vehicles has entered into a strategic technology partnership with Vodafone Business
Services to provide machine-to-machine (m2m) communication services in Mahindra’s newly-launched
electric vehicle—the Mahindra e20. The tie-up makes the Mahindra e20 a truly ‘connected car’ and among
the few in the world to support telemarketing.
  • Tata Steel merges two group companies with self

Tata Steel Ltd. (TSL) has announced the merger with itself of two group firms, the listed Tata Metaliks Ltd.
(TML) and the unlisted Tata Metaliks Kubota Pipes Ltd. (TMKPL),
  • BHEL Ranipet ties up with Mitsubishi
Boiler Auxiliaries Plant of Bharat Heavy Electricals Limited (BHEL) in Ranipet has entered into a technical tieup
with Mitsubishi Heavy Engineering Industries, Japan, for manufacturing and supplying flue gas desulpherisation
(FGD) system that removes sulphur dioxide from gases emitted by power stations.
  • Fiat ends distribution pact with Tata Motors
The cars made by Italian automobile giant Fiat in India, through its Indian subsidiary Fiat Group Automobiles
India Private Ltd. (FGAIPL), will no longer be distributed by Tata Motors.
  • TataComm bags $20 m deal from Mott MacDonald
Tata Communications Ltd. (TCL) said it had been selected by Mott MacDonald as its telecommunications
partner for the next five years in a $20 million deal.
  • Princeling’ banker to push BRICS Bank forward
An influential ‘princeling’, who has headed the powerful state-run China Development Bank (CDB) for more
than a decade, has been tasked with leading China’s planning and strategy in taking forward the BRICS
Development Bank project. Chen Yuan (68), who, as the head of the CDB for 15 years, oversaw a massive
expansion in the bank’s role in helping finance an infrastructure boom at home and a surge in Chinese
investments overseas, has given up his role as Governor of China’s fifth-largest bank.
  • Heliconia to pick up 2.6 % stake in Kotak Bank for Rs. 1,296 crore
Heliconia Pte Ltd., an affiliate of the Government of Singapore Investment Corporation Pte Ltd (GIC) has
entered into a deal to pick up a 2.6 per cent stake in Kotak Mahindra Bank Ltd. (KMBL) for Rs. 1,296 crore.


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