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WTO draft upsets India

New Delhi, Aug. 27: India today said that the draft text for the WTO ministerial meeting in Cancun was disappointing. It did not provide necessary levels of comfort to developing countries on market access in agriculture. “Unfortunately, the draft ministerial text does not provide us with the necessary levels of comfort so that developing countries are in a position to make major contributions in market access,” a statement issued by the commerce ministry said.

Oracle plan

New Delhi, Aug. 27: Oracle Corporation plans to increase its headcount in India by over 800 to touch 4000 in the coming 12 months, while recruiting another 2000 professionals over the next few years at its development centres in Hyderabad and Bangalore.

Bayer unit

Mumbai, Aug. 27: Bayer India will form a wholly-owned subsidiary to transfer the non- cropscience business. It would be formed and incorporated subject to shareholders’ approval and completion of other formalities.

Direct tax

New Delhi, Aug. 27: With over 81 per cent rise in refunds, net direct tax collections fell nearly 3 per cent to Rs 13,700 crore till August 19, said P. L. Singh, chairman of Central Board of Direct Taxes.

Exchange move

New Delhi, Aug. 27: A high level inter-ministerial group looking into convergence of securities and commodity derivatives market today recommended status quo at level of exchanges but favoured convergence at the level of brokerage firms and policy makers.

CSE capital

Calcutta, Aug. 27: The Calcutta Stock Exchange (CSE) will increase its authorised share capital to over Rs 5 lakh from Rs 2.97 lakh in order to adhere to demutualisation norms.

Grain stock

New Delhi, Aug. 26: More foodgrain is likely to be lifted from some states, including West Bengal, Orissa and Andhra Pradesh, during the forthcoming kharif season. Arun Bhatnagar, secretary, food and public distribution, today undertook a review to assess the arrangements for procurement of paddy and coarse grains during the kharif season.


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