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Don’t report frauds below Rs 1 lakh to police: CVC to banks

The Central Vigilance Commission (CVC) has asked public sector banks not to report frauds below Rs one lakh to local police, unless their staff is involved in such crimes. Earlier banks were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police. The decision was …

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7 Air India unions write to Centre on privatisation, threaten unrest

Seven unions of Air India employees have warned the government of large-scale protests if a proposal from NITI Aayog to privatise the national carrier is approved. In a letter dated June 14, the unions have sought an appointment with the civil aviation minister Gajapathi Raju to discuss their concerns over …

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Don’t dance on the road! 11 things you should not do in Dubai

Dubai is considered one of the most lenient and multi-ethnic places in UAE, but you do need to conduct yourself in a certain way. What is considered OK in your home country may be a punishable offence in Dubai. So it’s a good idea to be aware of the rules …

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Amazon to buy upmarket grocer Whole Foods for $13.7 billion

Amazon.com Inc said on Friday it would buy U.S. organic supermarket chain Whole Foods Market Inc for $13.7 billion, including debt, marking the internet retailer’s largest deal and biggest foray into the brick-and-mortar retail sector. The deal, which puts a 27 percent premium on Whole Foods’ closing share price on …

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Gili Islands: Are they truly a vision of paradise on earth?

The Gili Islands, comprising Gili Trawangan, Gili Meno and Gili Air, are situated just off the northwest coast of Lombok, Indonesia. Motor vehicles aren’t allowed here, so for transportation you either need to walk, take a bicycle or the cidomo (horse-drawn carriage). Amongst all the activities, the most popular ones …

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Go beyond the European region and explore lesser-known vineyards of the world

Mumbai France is what pops to mind when someone mentions a vineyard, but as the French word goes, it’s passé. World over, countries have been aging delicious wine, and it’s time we put the stopper on the European region and explore the lesser-known vineyards. Red, white, sparkling or rosé – …

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Sensex Rebounds Over 100 Points, Nifty Above 9,600

Mumbai: The BSE Sensex rebounded 107 points and the NSE Nifty reclaimed the 9,600-mark today, propelled by the exports growth in May amid mixed Asian cues. The 30-share index recovered sharply by 107 points, or 0.34 per cent, to 31,182.73, with all sectoral indices led by auto, consumer durables, realty …

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Bosses of Goldman Sachs and Citigroup drawn into hoax by email prankster

The bosses of Wall Street banks Goldman Sachs and Citigroup are the latest executives to fall victim to an email prankster who has also managed to connect with the head of Barclays and the governor of the Bank of England. While neither Goldman CEO Lloyd Blankfein nor his Citi counterpart …

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Heavy industry minister Geete to talk to FM Jaitley on lowering GST on hybrids

Union heavy industries minister Anant Geete on Monday said he will take up the issue of lowering the 43% tax rate on hybrid vehicles under GST with finance minister Arun Jaitley. On Sunday, Jaitley hinted that the tax rate on hybrid cars will not be reviewed, saying the industry demands …

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Industrial production growth slows to 3.1% in April

Industrial production growth slipped to 3.1% in April due to poor show by manufacturing, mining and power sectors coupled with lower offtake of capital goods and consumer durables. The slip is significant compared to the same period last year, when industrial production grew by 6.5%. The factory output measured in …