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Friday , January 18 , 2013
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Business Briefs

Insurance bill gets support

Mumbai, Jan. 17: Yashwant Sinha, chairman of the parliamentary standing committee on finance and senior BJP leader, today hinted at supporting the insurance bill, saying it depends on how the government reaches out to the Opposition. The insurance amendment bill proposes to increase the FDI cap from 26 per cent to 49 per cent.

Sebi ban

New Delhi, Jan. 17: Sebi has barred seven persons and one company from the markets for 10 years for their involvement in the estimated Rs 1,500-crore ‘StockGuru’ fraud. These entities will have to refund the amount collected fraudulently from gullible investors, along with an interest of 15 per cent per annum.

Adidas chief

New Delhi, Jan. 17: Adidas group today announced a top management change in India with Erick Haskell, ex-chief operating officer of China operations, coming in to head the business here.

Myanmar oil

Yangon, Jan. 17: Myanmar opened up a major portion of its onshore oil blocks for bids today, a move that is likely to see a surge in interest from Western firms after the removal of sanctions against the state.

Honda plan

Manesar, Jan. 17: Two-wheeler maker Honda will launch at least four products every year in India with its first integrated R&D centre here, that will also serve as a global innovation hub, coming onstream.