Vijay Mallya-owned USL hits settlement deal with ABD over Officer's Choice dispute

Vijay Mallya-owned USL hits settlement deal with ABD over Officer's Choice disputeVijay Mallya-owned United Spirits Ltd (USL) has finally agreed to settle a dispute relating to "Officer's Choice" whisky brand with Allied Blenders & Distillers (ABD) out of court.

As terms of settlement, USL will withdraw all cases against ABD filed with Delhi and Calcutta High Courts, while ABD will reportedly pay one-time settlement amount of Rs 8 crore to USL.

EGoM recommends one-time licence fee for existing telcos

EGoM recommends one-time licence fee for existing telcosThe Empowered Group of Ministers on Spectrum (EGoM), headed by Finance Minister P. Chidambaram, on Monday recommended that a one-time fee should be charged from all existing telecom companies which hold more than 4.4 MHz of spectrum.

The EGoM also recommended that the one-time licence fee should be charged prospectively from October 2012. The one-time licence fee would be levied from the day the union Cabinet approves the recommendation.

Reforms necessary to pursue economic growth: P. Chidambaram

Reforms necessary to pursue economic growth: P. Chidambaram Finance Minister P. Chidambaram has reiterated the need for reforms to pursue economic growth.Speaking at Annual Economic Editors' Conference in New Delhi on Monday, Chidambaram said that the country would suffer sharp and continuing economic slowdown in case reforms were not accepted.

Speaking on the topic, he said, "Without reforms, we risk a sharp and continuing slowdown of the economy, which we cannot afford given the imperative need to generate jobs and incomes for a large population."

IMF slashes India's 2012 growth projection from 6.2% to 4.9%

IMF slashes India's 2012 growth projection from 6.2% to 4.9%The International Monetary Fund (IMF) has lowered its projection for India's economic growth for the current year, saying slow approvals for new projects and sluggish structural reforms would heart hurt economic growth of the country.

IMF's World Economic Outlook, released on Tuesday, projected that India's economic growth would weaken to 4.9 per cent in the financial year of 2011-12, 1.3 per cent down from the international lender's earlier projection of 6.2 per cent for the same year. It is the biggest decline in growth projection for any country for current year.

Commodity Trading Tips for Mustardseed by KediaCommodity

MustardseedMustardseed yesterday traded with the positive node and settled

Commodity Trading Tips for Wheat by KediaCommodity

WheatWheat yesterday traded with the positive node and settled 2.18% up at 1545 on buying support trackin

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