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Oil Prices May Have Bottomed, Says IEA

London: Oil prices might have bottomed as production declines in the United States and other non-OPEC producers accelerate and an increase in Iranian supply has been less than dramatic, the International Energy Agency said on Friday. After a spectacular 2015, growth in global demand was slowing – with India and the Middle East being rare pockets of improvement, the IEA said in a monthly report. Growth could slow even further if oil prices kept rising, said the Paris-based IEA, which coordinates energy policies of industrialised nations. Oil prices hit their…

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Crisil Sees GDP Growing At 7.9% in 2016-17

Mumbai: The country’s GDP can grow by 7.9 per cent next fiscal if the monsoon is normal and government implements the reform measures announced so far, domestic rating agency Crisil said on Friday. The growth forecast, highest by any house and even above the government’s own estimate of 7-7.75 per cent, has been arrived assuming a faster growth in agriculture, Crisil Chief Economist Dharmakirti Joshi said in a concall today. The country has faced weather shocks for three consecutive years, including two years of deficient rains in 2014 and 2015,…

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Colgate Extends Restructuring Programme, to Cut More Jobs

Colgate-Palmolive Co said on Thursday it would cut more jobs under an extended restructuring programme as the world’s largest toothpaste maker grapples with tough macro-economic conditions, including a strong dollar. The programme, now expected to end in December 2017, will result in the reduction of 3,300 to 3,800 positions globally. Colgate, had earlier said it expected to complete the programme this year and cut about 2,700 to 3,200 positions. The company, which gets more than three-fourths of its revenue from outside the United States, has been raising prices to counter…

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Factory Output Contracts For The Third Month In A Row

Factory output in January contracted for the third straight month, in an indication that the manufacturing sector continues to struggle with sluggish demand and overcapacity. According to data released on Friday, factory output — measured by Index of Industrial Production (IIP) –  contracted 1.5 per cent in January. The higher-than-expected decline was on account of the sharp de-growth in capital goods, whose output shrank 20.4 per cent. Consumer goods output growth was flat. 10 out of the 22 industry groups in the manufacturing sector recorded negative growth in January 2016…

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Real Estate Bill: 5 Big Points of Protection For Home-Owners

The Real Estate Bill aims at protecting home buyers’ interest The Real Estate Bill, which aims at protecting home buyers’ interest, moved closer to becoming law after it was cleared in the Rajya Sabha on Thursday. The bill, designed to bring transparency and accountability to the realty sector, is expected to revive investor and buyer confidence. Here are five ways how the bill will protect home buyers: 1) All residential and commercial projects that include eight flats or cover an area of 500 square meters or more, will now have…

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India Need to Keep Reform Momentum Going: Jaitley

New Delhi: As the global environment becomes extremely difficult and challenging, India will need to keep the reform momentum going while putting resources in areas where it lacks, Finance Minister Arun Jaitley said today. Speaking at the opening day of the three-day India-IMF Conference ‘Advancing Asia: Investing for the Future’, he hoped to get through some important measures over the next few months riding on popular mood for growth oriented policies. “We have been trying to do our best as far as India is concerned, notwithstanding the global environment being…

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