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Retail recovery still some time away
The retail sector in Kolkata has adopted a wait and watch situation with retailers still wary of what lies ahead. What started as a big set-back for the retail industry in end-2008 with several malls and retailers shutting shop, the year 2009 was particularly bad for the industry with several cancellations of booked spaces and deferment of sanctioned projects.

Paswan gets move-out notice
Lok Janshakti Party chief Ramvilas Paswan has finally been served a notice by the New Delhi Municipal Corporation (NDMC) to vacate the plush bungalow at 15, Janpath. Paswan — as a minister since 2002 —occupied the Type-VIII bungalow near Parliament. But in 2009 elections, his party couldn’t win a single seat. Still, Paswan didn’t show any sign of moving out of the bungalow which served as his residence as well as the party office. As many new MPs are waiting with allotment letters for the current occupants to move out, NMDC finally decided to move out Paswan.

News of the day

Markets at a glance
Key benchmark indices surged as India’s economy expanded at higher than the expected rate of 7.9 per cent for October. Global markets gained after Dubai financial crisis fears receded. Indian markets opened strong at the start of the week, however, the week’s close saw some profit booking as worries mounted of a weaker-than-expected jobs report from the US.
Management

FPO of NTPC, REC likely in 2 months: FinMin

The Follow-on Public Offers (FPOs) of either NTPC or Rural Electrification Corporation (REC), are likely to be launched in the next couple of months, a senior government official said. - Chouhan renews demand for NTPC-BHEL plant in MP - Sunil Jain: Marketing and other margins">Sunil Jain: Marketing and other margins - Demands price parity with NTPC, RNRL for RIL gas - RIL-NTPC: PowerMin passes the buck on margin issue - NTPC"s 4,000 Mw Lalitpur proj may be shifted to Chitrakoot - REC FPO likely by Jan 2010, to raise Rs 3,200 cr Another FPO, that of NMDC, is also likely to be held by end-this fiscal, the official said. "I am quite hopeful that there will be four-five issues this year, that of REC, NTPC, Satluj Jaal Vidyut Nigam Ltd and NMDC. The toss-off for FPO is between REC and NTPC which I am hopeful will be coming through during the next couple of months," Ministry of Finance, Department of Disinvestment, Joint Secretary, Sidhartha Pradhan, told reporters here today. Pradhan said the FPO will happen as soon as the companies expedite the process of updating their accounts and getting Sebi clearance. The government is considering a policy decision on the optimum utilisation of funds raised through the FPO, he said. "A policy decision will be announced in the next couple of weeks on how best to utilise the money. It is in the offing and we have to wait for the Cabinet decision," Pradhan said.


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