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Need to make SEZ laws error-free
Trinamool Congress leader and new Railway Minister Mamata Banerjee has called for a review of the Special Economic Zones (SEZ) policy. Whoever takes over as the Union commerce minister will have to do it in any case, as it is nearly four years since the SEZ Act, 2005, came into effect and over three years since the SEZ Rules, 2006, were put in place. A performance assessment can do no harm but certainly the SEZ developers who have already acquired land and sunk their money in developing infrastructure and the units, which have obtained approvals and started their operations, should not be left wondering for long as to whether any policy changes will affect them. They need to be assured quickly that any policy changes will affect only the intending SEZ developers and SEZ units. small loans

Mgt grads of 2010 prefer FMCG sector: Nielsen
The fast moving consumer goods (FMCG) sector has once again emerged as the industry of choice for this year’s management graduates.

News of the day

Forex reserves fall by $144 mn to $283.4 bn
India"s forex reserves declined by $144 million to $283.499 billion in the week ended December 25 as compared to $283.643 billion in the previous week, the Reserve Bank of India (RBI) said in its weekly report.
Online Business

Shoppers Stop gets board's nod for raising funds

Fashion and lifestyle retail chain Shoppers Stop today said its board of directors has approved raising funds by allotting 40 lakh shares to qualified institutional buyers. - Inside Bharti Walmart - Shobhana Subramanian: When shoppers don"t stop">Shobhana Subramanian: When shoppers don"t stop - BAG Films board approves raising $30mn - Designer plans - Retail dream fades for many FMCG, telecom executives - Garmin, Reliance Retail tie up to launch navigation products Calculated on the basis of yesterday"s closing price on the Bombay Stock Exchange, the company by allotting 40 lakh shares would garner an amount estimated at Rs 145.70 crore. The board of directors at their meeting held today approved raising funds and sought shareholders" consent for the same, Shoppers Stop said in a filing to the Bombay Stock Exchange. Further, the board has also approached shareholders of the company to seek approval to issue up to 40 lakh warrants to promoter and promoter’s group company, each convertible into one equity share of the company, the filing added. Shares of the company yesterday closed at Rs 364.25, down 3.79 per cent on the Bombay Stock Exchange.


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