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Supreme Court hears petition to halt IPL, pulls up BCCI

The Supreme Court will hear a petition on Tuesday seeking to scrap the remaining matches of the country's lucrative Twenty20 …

  • Supreme Court rejects bid to halt IPL Reuters
    Supreme Court rejects bid to halt IPL

    NEW DELHI (Reuters) - The Supreme Court dismissed a petition on Tuesday seeking to scrap the remaining matches of the country's lucrative Twenty20 cricket competition amid growing concerns about corruption in sport. Former test bowler Shanthakumaran Sreesanth and two other players were arrested along with 11 bookmakers on Thursday on suspicion of spot-fixing in the Indian Premier League (IPL). The case has prompted the Indian government to look at the possibility of introducing a law to combat matchfixing and spot-fixing. ...

  • Vodafone India exec says IPO unlikely this year Reuters
    Vodafone India exec says IPO unlikely this year

    NEW DELHI (Reuters) - A planned initial public offering of Vodafone Group Plc's Indian unit is unlikely this year, the unit's Chief Executive Marten Pieters said in New Delhi on Tuesday. Pieters said the company will wait for clarity on rules around airwaves and cellular permits before going ahead with the IPO. (Reporting by Devidutta Tripathy; editing by Matthias Williams and Gopakumar Warrier)

  • India issues clarification on withholding tax benefits for foreign investors Reuters
    India issues clarification on withholding tax benefits for foreign investors

    MUMBAI (Reuters) - Foreign investors will be eligible to benefit from lower withholding taxes for interest income accrued between June 1, 2013 and May 31, 2015 regardless of when the debt was bought, the Finance Ministry said in a notice on Tuesday. Last month the government had cut tax rates for foreign investors on interest income from government and corporate debt in the above period, but some investors had raised doubts about whether the benefits would apply only to debt bought during that timeframe. ...

  • Syria says destroys Israeli vehicle which crossed ceasefire line Reuters

    BEIRUT (Reuters) - Syria said on Tuesday its armed forces destroyed an Israeli vehicle after it crossed a ceasefire line into Syrian territory from the Israeli-occupied Golan Heights. The statement by Syrian military leadership, broadcast on state television, came after Israel said one of its military vehicles in the Golan Heights was hit by gunfire from Syria. Israel said the vehicle was damaged but none of its troops were wounded, and Israeli soldiers returned fire. (Editing by Janet Lawrence)

  • Obama to meet with China's Xi in California June 7-8 Reuters
    Obama to meet with China's Xi in California June 7-8

    WASHINGTON (Reuters) - President Barack Obama and Chinese President Xi Jinping will hold their first meeting since Xi became president in March when they sit down for a June 7-8 summit in Rancho Mirage, California, the White House announced on Monday. The two leaders are likely to discuss ways to apply pressure on North Korea to give up its nuclear weapons program after a period of bellicose rhetoric and threats from Pyongyang. The United States also has concerns about cyber attacks it says are emanating from China. ...

  • Coal India gains on dividend payment for 2012/13 Reuters
    Coal India gains on dividend payment for 2012/13

    Reuters Market Eye - Shares in Coal India Ltd gain 2 percent after its board recommended on Monday a higher-than-expected dividend of 4.3 rupees per share for financial year 2012-13. Nomura says the final dividend compared with 0.5 rupee per share in the previous fiscal year and is above consensus forecast. (Reporting by Abhishek Vishnoi)

  • Bond market takes wing hoping RBI answers dovish prayers Reuters
    Bond market takes wing hoping RBI answers dovish prayers

    By Swati Bhat and Shamik Paul MUMBAI (Reuters) - Investors in India's rocketing bond market are betting heavily on the Reserve Bank of India (RBI) shedding some of its habitual caution by both cutting interest rates and injecting liquidity, but some analysts reckon hopes for further easing are becoming overblown. Following a suprisingly benign inflation reading for April and what investors interpreted as unexpectedly dovish comments from RBI Governor Duvvuri Subbarao last week, benchmark bond yields have plunged to their lowest since December 2009. ...

  • European shares near five-year highs Reuters
    European shares near five-year highs

    By Marc Jones LONDON (Reuters) - The dollar edged up, gold steadied and European shares held near five-year highs on Tuesday as investors look out for U.S. Federal Reserve signals on the future of its stimulus programme. Upbeat comments from Chicago policymaker Charles Evans have made Wednesday's release of minutes of the U.S. central bank's last meeting and Fed chairman Ben Bernanke's testimony in Congress the same day the main focus for markets. The usually dovish Evans said on Monday that as long as the recent pickup in the U.S. ...

  • Gold futures edge higher from one-month low Reuters
    Gold futures edge higher from one-month low

    MUMBAI (Reuters) - Indian gold futures edged higher from their lowest level in a month, helped by global leads and a weaker rupee at home, while banks, the primary dealers of bullion, awaited policy direction after the government restricted imports on a consignment basis. At 2 p.m., the actively traded gold for June delivery on the Multi Commodity Exchange (MCX) was 0.57 percent higher at 26,238 rupees per 10 grams, after hitting a low of 25,373 rupees in the previous session, a level last seen on April 18. ...

  • Bell fit as England name unchanged squad for second test Reuters

    LONDON (Reuters) - England named an unchanged squad for the second test against New Zealand starting on Friday after batsman Ian Bell was declared fit following a bout of tonsillitis. Bell climbed out of his sick bed to take his place at the crease in the first test won in stunning fashion by England on Sunday but had been a doubt for Headingley. Yorkshiremen Jonny Bairstow and Joe Root will get the chance to play at their home ground after solid performances at Lord's, while bowler Tim Bresnan is again included in the 12-man squad having undergone elbow surgery in February. ...

  • Qatar National Bank to start India ops in expansion push Reuters
    Qatar National Bank to start India ops in expansion push

    DOHA (Reuters) - Qatar National Bank (QNB), one of the most acquisitive Gulf Arab lenders, will start operations in India in the third quarter of this year, the bank said on Tuesday, expanding its reach to Asia's third-largest economy. The state-owned bank, which has a presence in nearly 25 countries, said it had received all regulatory approvals to establish a fully-owned subsidiary under the name of "QNB India Private Limited," which is expected to begin operations in the third quarter. ...

  • Rupee ranged around 55/USD in tight trade Reuters
    Rupee ranged around 55/USD in tight trade

    Reuters Market Eye - The rupee is still down, trading around 55 pivot. The pair is at 55.04/05 versus its last close at 55.10/11. A private bank dealer tips a tight 54.95-55.10 range for the rest of the session. Oilers are picking up dollars to meet import requirements, while foreign banks have sold on porfolio inflows, dealers said. The dollar rose against the yen on Tuesday after a Japanese minister clarified remarks about the yen's drop, but many awaited the Federal Reserve chief's testimony before adding to bets on a stronger U.S. currency. (Reporting by Subhadip Sircar)

  • North Korea releases detained Chinese fishing boat Reuters

    BEIJING (Reuters) - North Korea released a Chinese fishing boat on Tuesday more than two weeks after it was detained in waters between the countries, as China demanded an explanation for the incident that has been a new irritant in ties between the often uneasy allies. Chinese counsellor to North Korea Jiang Yaxian had told state media earlier that North Korea had "grabbed" the private vessel from off the northern Chinese city of Dalian in waters between China and the Korean peninsula. ...

  • Credit Suisse replaces Morgan Stanley as No. 2 Asia prime broker Reuters

    By Nishant Kumar HONG KONG (Reuters) - The Asian prime brokerage unit of Credit Suisse has replaced Morgan Stanley as the second largest firm servicing the region's $148 billion hedge funds industry, a survey showed. The annual survey by industry tracker AsiaHedge, released this week, found that Goldman Sachs remains Asia's top prime broker with 179 clients and total assets under management of $24.6 billion. Credit Suisse overtook Morgan Stanley by adding 14 new clients and $2.4 billion in assets over the last year, a first for any prime broker in Asia, the survey showed. ...

  • In the Hamptons, catering to the rich (and their dogs) is good business Reuters

    By Beth Pinsker EAST HAMPTON, New York (Reuters) - Judging by early demand for everything from doggie daycare to Ferrari rentals and fine art, rich Americans are going to make this a strong summer in one of their favorite playgrounds - the beach towns on the eastern end of Long Island collectively known as the Hamptons. With stock prices surging, home prices recovering, and borrowing costs low, there is a renewed sense of confidence among the wealthy and the merely well off. ...

  • Squash hopes for preliminary Olympic nod at May 29 IOC meeting IANS

    New Delhi, May 21 (IANS) After twice failing to get the nod from the International Olympic Committee, the squash world is hoping that the IOC, at its meeeting in St. Petersburg on May 29, will shortlist the racquet sport for the 2020 Games.

  • Afghan women getting jailed for 'moral crimes' IANS

    Kabul, May 21 (IANS) The Afghan government should take urgent steps to halt an alarming increase in women and girls imprisoned for "moral crimes," Human Rights Watch said Tuesday.

  • Jain Group plans housing projects worth Rs.2,000 crore IANS

    Kolkata, May 21 (IANS) The city-based Jain Group is planning to build affordable housing projects across four east Indian cities, covering five million square feet of space at an investment of about Rs.2,000 crore by 2014-end.

  • Mediterranean diet component snatches cancer cell's immortality: Study IANS

    Washington, May 21 (IANS) Scientists have found a compound in foods associated with Mediterranean diet that deprives cancer cells of their immortal nature, says a study.

  • PM to present UPA's fourth report card May 22 IANS

    New Delhi, May 21 (IANS) Under attack from the opposition over corruption and lack of governance, Prime Minister Manmohan Singh will present the fourth and last report card of the UPA-II government May 22, sources said Tuesday.

  • Tamil Nadu Congressmen pay homage to Rajiv Gandhi IANS

    Chennai, May 21 (IANS) Tamil Nadu Governor K. Rosaiah administered an anti-terrorism pledge to employees at Raj Bhavan here while paying floral tributes to former prime minister Rajiv Gandhi on his 22nd death anniversary Tuesday.

  • Strike against media murders cripples Agartala IANS

    Agartala, May 21 (IANS) A dawn-to-dusk strike called by the opposition Congress Tuesday to protest the killing of three newspaper employees paralysed this capital of Left-ruled Tripura.

  • Spain not yet on Brazil's level: Iniesta IANS

    Rio de Janeiro, May 21 (IANS) Andres Iniesta says Spain cannot yet claim to be on the same pedestal as Brazil in football's international hierarchy.

  • 24 killed in road accidents in Uttar Pradesh IANS

    Lucknow, May 21 (IANS) At least 24 people were killed and over 50 injured in three separate accidents in Uttar Pradesh Tuesday, police said.

  • Manoj Bajpayee admires Kay Kay IANS

    Mumbai, May 21 (IANS) Actor Manoj Bajpayee, currently shooting for his upcoming movie "Saat Uchakkey" in the capital, was really impressed sharing thoughts with "talented actor" Kay Kay Menon.

  • Former Olympic champion Maggi ponders retirement IANS

    Rio de Janeiro, May 21 (IANS) Brazil's former Olympic long jump champion Maurren Maggi has conceded that her dream of competing at the Rio 2016 Games could be over after she failed to qualify for this year's World Championships in Moscow.

  • '2018 FIFA World Cup stadium may be delayed until 2017' IANS

    St. Petersburg, May 21 (IANS/RIA Novosti) The completion date for Zenit St. Petersburg's $1.1 billion stadium has been put back again and it may not open until 2017, a decade after construction work began, the head of the government agency auditing the project said.

  • Andhra markets GAME city at Cannes IANS

    Cannes, May 21 (IANS) Riding on its extensive cinema industry, which produces one of the largest number of films in India, the government of the southern Indian state of Andhra Pradesh is keen to use the latest technological innovations in the industry to create skill development and employment opportunities for its youth.

  • India's higher growth needs more economic opening: Powell IANS

    Kolkata, May 21 (IANS) US Ambassador Nancy Powell Tuesday called for greater economic opening and more foreign investments for India's higher economic growth.

  • 'Ghayal Returns' to be a continuation of 'Ghayal' IANS

    Mumbai, May 21 (IANS) "Ghayal Returns" will begin from where the 1990 hit-film "Ghayal" left, says actor Sunny Deol.