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CBDT issues third round of certificates to tax payers

CBDT issues third round of certificates to tax payers

New Delhi [India], Feb 8 : In continuation of the initiative of the government to acknowledge the contribution of tax payers by paying taxes towards nation building and promptness in filing of Income Tax Returns, Central Board of Direct Taxation (CBDT) has issued the third round of Certificates to nearly 3.74 lakh tax payers.

With this, the total number of certificates issued by CBDT now stands at approximately 23 lakh.

Cyprus launches investigations into its banking sector

Cyprus launches investigations into its banking sectorThe authorities in Cyprus have launched an investigation into the banking practices in the country that apparently led to the collapse of the country’s entire banking sector.

CLSA upgrades rating for Reliance Industries to 'outperform'

CLSA upgrades rating for Reliance Industries to 'outperform'Asia Pacific-focused brokerage firm CLSA on Friday upgraded rating for Reliance Industries Ltd (RIL), saying the underweight trade on the company was over.

CLSA upgraded RIL from an 'Underperform' rating to 'Outperform' and also hiked its twelve-month target price for the company's stock to Rs 850 a share.

"milestone" reprieve on debt payment given to MGM Mirage

"milestone" reprieve on debt payment given to MGM MirageCompany officials in Las Vegas have said that MGM Mirage has been given two more years to repay part of a $4.37 loan that was to come due in October 2011.

Dan D'Arrigo, Chief Financial Officer of MGM Mirage, said that the extension by lenders is a "milestone" in efforts to improve the company's balance sheet, which has about $12.5 billion in debt,.

Nordea buys regional Danish banking group

Nordea buys regional Danish banking groupStockholm  - Nordic banking group Nordea Monday signed a deal to buy regional Danish group Fionia Bank for 900 million kroner (177 million dollars).

Fionia Bank's 400 employees and 29 branches, as well as some 75,000 private customers and 9,500 corporate customers, were to be transferred to Nordea.

Nordea was created in 2000 but traces it roots to 1997 when Merita Bank of Finland and Nordbanken of Sweden formed MeritaNordbanken. It has some 10 million customers and 1,400 branch offices. (dpa)

UBS shares up following deal with US, government exit from bank

Geneva  - Shares in UBS AG were up Thursday morning on the Zurich exchange, a day after it was announced the bank would divulge information to US tax authorities on 4,450 accounts and the Swiss government said it would exit its investment in the bank.

Shares were up 1.14 per cent and were trading at 16.93 Swiss francs (15.88 dollars) an hour after the exchange opened. Traders had expected the shares to open lower.

The Swiss government announced late Wednesday, after US markets closed, that it would sell the roughly 9-per-cent stake in UBS it obtained last year as part of a bail-out for the troubled institution.

Indian Market Roundup : Sensex low 107 points, closes at 15,412

Indian Market Roundup : Sensex low 107 points, closes at 15,412Market Round Up
The markets ended lower after two days of sharp rally. Markets remained in a narrow range and the trend was very choppy. Selling was seen in realty, FMCG, IT, auto, pharma, bank, power, cement and sugar stocks. However, buying was seen in oil & gas stocks.

The Sensex was down 107 points at 15412; it remained in the range of 15,535 and 15,367. The Nifty was down 25 points at 4580. It touched an intra day low of 4559. In the broader markets, the BSE smallcap index rose 0.4 % and the CNX midcap index ended 0.2 % higher.

Barclays reports profit in first half of 2009

Barclays reports profit in first half of 2009 London  - Britain's Barclays Bank Monday reported a pre-tax profit of 2.98 billion pounds (4.98 billion dollars) for the first half of 2009.

The results were boosted by the performance of its investment banking division, Barclays Capital, which saw profits double compared with last year.

Barclays chief executive John Varley said he was confident about the bank's prospects for the rest of the year following last year's crisis.

Indian Market Roundup : Sensex up 215 points, closes at 15,388

Indian Market Roundup : Sensex up 215 points, closes at 15,388Market Round Up

The Nifty ended the July series on a strong note and ended above the 4,550 level.

The Sensex gained 215 points to end at 15,388 after swinging between 15,409 and 15,065. The Nifty shut at 4,571 up 58 points.

The market breadth was positive and the volumes were lower compared to previous session, total traded turnover was down by 16% at Rs 1,23,635 cr. as against Rs1,47,352 cr.

The Nifty Aug future ended with 7 points premium at 4,578.

Investors should remain cautious in building any fresh positions: Nirmal Bang Research

Investors should remain cautious in building any fresh positions: Nirmal Bang ResearchIt was an extremely volatile session ahead of F&O expiry. Credit Policy was the non?event for the markets today, as RBI maintained the status unchanged. The Sensex ended down 43 points at 15,332 after hitting an intraday high of 15,463  and Nifty shut at 4,564 down 8 points after hitting an intraday high of 4,608. The broader markets outperformed the benchmark indices. The market breadth was positive and the total turnover crossed the 1 lakh cr. mark.

Stock Markets Likely to be Volatile on Tuesday - Brokers Viewpoint

Rahul Agarwal, VP, Institutional Sales, LKP Shares, said that today stock market was performing steadily because of the absence of aggressive selling. Volumes remained on the lower side as less of institutional buying was seen today. There was broad-based buying across all the sectors, though IT sector under-performed markets. He expects volatility with a negative bias to be seen in the Tuesday`s trading session.

Bhupendra Sharma, vice president, Hornic Investments stated that today market traded decisively all through the day, as it ended the day 149 points. It was mainly because of good worldwide cues. No major buying took place today. There was careful buying and the majority of the small cap companies did well today.




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