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India's largest steel manufacturer, JSW Steel has asked for a complete ban on the export of iron-ore, which is key raw material in steel.

The company has said that the ban should be implemented in a phased manner which should be done in nothing less than five years time.

While announcing the results of the company, Chairman and Managing Director Sajjan Jindal said, "Iron ore exports should be gradually banned. I would say that there should be a calibrated approach towards banning it, say in next five years bring down export of iron ore to zero."

World Cyber Games India has pronounced the dates of one of the most renowned Indian gaming competitions - World Cyber Gaming India Championship 2010.

It has been stated that the competition begins from July 31 and will go on till August 29 in six different cities across India - Delhi, Hyderabad, Pune, Bangalore, Chennai and Mumbai. The finals are scheduled to be held on August 28-29 in Mumbai.

On Wednesday, both the benchmark indexes in India, Sensex and Nifty ended below the key levels. This happened since the investors went ahead for profit-booking.

Most of the trend was seen in the biggies of the market like Reliance Industries and others before the end of the deadline for July F&O.

Weakness in the European markets that appeared did not help t0 revive the sentiments much.

BSE's Sensex closed at 17,957.37, down 120.24 points or 0.67 per cent. It touched an intra-day low of 17,925.40 and high of 18,137.14 during the session.

Private equity firm, Banyan tree has said that it will be starting a $100 million fund. Banyan makes structured PE investment in small and mid- sized businesses.

Name of the fund is going to be Banyan Tree Growth Capital and is going to be the first India focused fund from Banyan.

It is going to be anchored by two Dutch and German financial institutions- FMO and DEG. FMO is from Netherlands and the other is a German company.

Nokia has proclaimed a joint association with Tata DoCoMo that helps to offer Nokia Ovi Life Tools to a larger base of consumers in rural and semi-urban India.

Nokia and Tata DoCoMo in association with Nokia Ovi Life Tools services offer services to all Tata DoCoMo subscribers. The service is aimed to offer news alerts in the fields of agriculture and education on schemes and other worthy information to most of the users present.

On Wednesday, Patni Computer Systems has reported a profit of 7.3 per cent rise in its net profit during the second quarter of this fiscal. This has been possible because of the gain on the foreign exchange front made by the IT Company.

Even with this the company saw declining revenues forcing the shares to go down.

Profit for the month of April-June increased to Rs. 1.47 billion as against 1.37 billion for the same period last year. The same used the US GAAP accounting calculation method.