Briefly Business: Govt announces increase in duty drawback rates

Govt announces increase in duty drawback rates

New delhi: The government on Friday announced increase in duty drawback rates — refund of duties on imported inputs for export items — on most of the products eligible for the incentive scheme for 2012-13.

PMO calls meeting of coal, power mins

new delhi: The Prime Minister's Office has called a meeting of officials of coal and power ministries on October 10.

General Motors to hike prices by up to R20K

new delhi: General Motors India has said it will hike the prices of all models by up to Rs 20,000 with effect from October 8.

Essel group sells

more shares in IVRCL

Mumbai: Essel Group has sold 1.5 per cent stake in IVRCL Ltd for about Rs 20 crore, lowering its stake in the firm to about 3%.

Merc India head to move to headquarters

Mumbai: Mercedes-Benz India MD and CEO Peter Honegg will move to company headquarters in Germany due to personal and family reasons, the firm said.

'No negotiation on price for 15% imported coal'

New Delhi: Coal India has said there would be no negotiations with regard to supply of 15 per cent of imported coal on cost-plus basis as part of FSA.

MCX-SX plans to launch SME platform

Mumbai: Announcing MCX Stock Exchange's intent to have a platform for small businesses, the MCX-SX promoter and V-C Jignesh Shah said SMEs should aspire to raise up to $20 million annually via such platforms.

Pfizer to challenge patent revocation

New Delhi: Pfizer India will appeal against a ruling by Indian Patents Office, which has revoked patent for its cancer drug Sutent.

OBC lowers rates for term deposits

New Delhi: Oriental Bank of Commerce on Friday lowered interest rates by 0.10 per cent for term deposits between Rs 15 lakh & Rs 1 crore of various maturities.

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