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PROFIT-BOOKING: SENSEX FALLS 155 PTS
Posted on 11th August 2018
The BSE Sensex tumbled over 155 points on Saturday to close below the 38,000-mark as investors booked profits amid lacklustre global cues.

SBI was the biggest loser in the Sensex pack, diving 3.79 per cent, after the lender reported a hefty loss of Rs 4,876 crore for the June quarter.


NO PROPOSAL TO WITHDRAW RS 2,000 NOTES: GOVT
Posted on 11th August 2018
The government today said that there is no proposal to withdraw Rs 2,000 denomination note. RBI introduced Rs 2,000 notes following demonetisation of high value Rs 500 and Rs 1,000 notes in November 2016.

Replying to question whether the government is considering withdrawal of Rs 2,000 notes shortly, Minister of State for Finance Pon Radhakrishnan in the Lok Sabha said, “there is no such proposal.”


Thanks to Indian coach, words are not lost in translation anymore: Sardar Singh
Posted on 11th August 2018
Senior players Sardar Singh and Manpreet Singh say having an Indian as the national team's head coach has broken all communication barriers and tactically too Harendra Singh is no less than any of his foreign counterparts.

Harendra, who was appointed in May, coached India to a second straight runners-up finish at the Champions Trophy last month.


Facebook tightens noose around fake accounts, demands authorization from users
Posted on 11th August 2018
The world’s largest social media network Facebook on Friday took measures to make it more difficult to run fake or compromised accounts on its platform as it demanded authorization from its users who have a large number of followers in the US. “Today we’re introducing Page publishing authorization starting with people that manage a Page with a large audience in the US,” Facebook said.

Microsoft CEO Satya Nadella sells $36 million in stock in biggest sale
Posted on 11th August 2018
Microsoft Corp. Chief Executive Officer Satya Nadella has sold 328,000 shares valued at $35.9 million for financial planning reasons and is beginning a regularly scheduled trading plan for some of the equity awards he received.

Nadella will continue to divest shares in the next year through the structured plan in which he doesn’t control the timing or amounts sold, the company said Friday. He will sell fewer than half his Microsoft shares through the plan, according to the company.


IOC-Adani duo win bid for Burdwan piped gas
Posted on 11th August 2018
New Delhi: A consortium of Indian Oil-Adani Gas on Friday won the bid to supply piped gas in Burdwan, the only city in Bengal in the latest round of bidding for this service to 78 cities.

The consortium outbid others such as GAIL Gas, Hindustan Petroleum Corporation, H-Energy East Coast and Bharat Gas Resources to win the rights to offer piped natural gas to the residents as well as CNG to autos and other vehicles in Burdwan.


SBI posts third straight quarterly loss at Rs 48.76 bn on higher provisions
Posted on 11th August 2018
State Bank of India (SBI) reported a net loss of Rs 48.75 billion for the April-June 2018 period (Q1), its third straight quarterly loss, on account of huge provisions for erosion in value of its investment in bonds and an increase in operating expenses due to wage revision and enhanced limits for gratuity.

However, its asset quality profile improved with a fall in bad loans and improvement in provision for stressed assets. Also, its net interest income (NII) and margins were better in Q1 compared to the same quarter last year.


DLF Cybercity-GIC joint venture hopes to double its portfolio in a decade
Posted on 11th August 2018
DLF Cybercity Developers (DCCDL), in a joint venture with Singapore’s sovereign wealth fund GIC, is planning to double the size of its portfolio to almost 60-million square feet over the next decade, the company said while announcing its results for the June quarter.

India’s largest real estate firm reported a 56 per cent increase in its consolidated net profit to Rs 1.72 billion for the first quarter. Its net profit stood at Rs 1.1 billion in the year-ago period, the company said in its BSE filing.


India gets first all-women SWAT team, all 36 commandos from northeast
Posted on 11th August 2018
Ahead of the Independence Day, the Delhi Police inducted India's first all-woman Special Weapons and Tactics (SWAT) team for anti-terrorist operations.

After rigorous training of around 15 months from specialists all across India and abroad, 36 women commandos from the northeastern states have been inducted into this squad. While 13 members are from Assam, rest of them hail from Arunachal Pradesh, Sikkim and Manipur.


Apollo Hospitals expects healthy rivalry from IHH's Fortis Healthcare bid
Posted on 11th August 2018
Apollo Hospitals Enterprise (AHEL) has said Malaysian group IHH Healthcare’s acquisition of Fortis Healthcare would create a healthy competition, clarifying it is very early to say whether it would end the 50: 50 Apollo Gleneagles Hospitals (Kolkata) joint venture with IHH Healthcare.

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