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  • UPDATE 2-India eases gold import rule in surprise move Friday, 28 Nov 2014 | 11:12 AM ET

    MUMBAI, Nov 28- India has scrapped a rule mandating traders to export 20 percent of all gold imported into the country, in a surprise move that could cut smuggling and raise legal shipments into the world's second-biggest consumer of the metal after China. Along with a record duty of 10 percent, India introduced the so-called 80:20 import rule tying imports to...

  • Nov 28- BCE Inc, Canada's largest telecommunications company, said it would buy mobile phone retailer Glentel Inc for about C $594 million in cash and stock. Glentel's shareholders will get C $26.50 per share, which represents a 108 percent premium to its Thursday close on the Toronto Stock Exchange. Burnaby, British Colombia-based Glentel sells mobile phones...

  • Nov 28- BCE Inc, Canada's largest telecommunications company, said it would buy its mobile products distributor, Glentel Inc, for about C $594 million in cash and stock. Glentel's shareholders will receive C $26.50 per share, which represents a 108 percent premium to its Thursday close on the Toronto Stock Exchange. Including net debt and minority interest of...

  • According to industry and government sources, and letters reviewed by Reuters, Essar has asked the Indian government to free it from paying its share of oil dues to Iran, and instead offset them against a $2.5 billion deal to supply steel plate to a NIOC affiliate. The back-to-back scheme comes to light at a critical stage in talks between Iran and six world powers...

  • India believes its abducted workers in Iraq alive Friday, 28 Nov 2014 | 3:04 AM ET

    NEW DELHI— The Indian government believes 39 workers abducted nearly six months ago by the Islamic State group in Iraq are alive despite claims by one who escaped that the others had been killed. They were employed by a Turkish construction company when they were seized in June in the northern city of Mosul. There are about 10,000 Indian citizens working and...

  • DBS: Predict India GDP at 5.3%     Thursday, 27 Nov 2014 | 8:42 PM ET

    Radhika Rao, Economist at DBS, expects India's economy to grow 5.3 percent on year during the July-September period, which is above consensus of 5.1 percent.

  • *China official PMI seen at 50.6 vs 50.8 in October. BEIJING, Nov 27- Growth in China's manufacturing sector likely slowed slightly in November as demand remained sluggish, a Reuters poll showed. Industrial Bank Co. Ltd, in a research note, said consumption only showed good signs at an online "singles' day" promotion by Alibaba Group Holding on Nov. 11 and steel...

  • MUMBAI, Nov 27- Anticipating data out on Friday will show weakening economic growth, India's finance ministry will argue for an interest rate cut, but bankers and company executives say the key to recovery lies in how fast Prime Minister Narendra Modi acts on reforms. The Lanco Infratech unit's biggest problem is a shortage of coal supplied by an inefficient...

  • Credit Suisse, Assured Guaranty settle US lawsuit Thursday, 27 Nov 2014 | 3:48 AM ET

    Credit Suisse has reached a confidential settlement with Assured Guaranty.

  • Nov 26- Credit Suisse Group AG has reached a confidential settlement with Assured Guaranty Ltd on claims related to what the insurer said were defective loans underlying mortgage-backed securities, court documents showed. Assured Guaranty said it had filed to dismiss its lawsuit against Credit Suisse, according to a statement on its website.

  • Online grocers pick up amid India's e-commerce boom Wednesday, 26 Nov 2014 | 6:32 PM ET

    Put off by snarled city traffic and a shortage of parking, more Indians are shopping for groceries online, helping e-tailers turn in profits.

  • FDA rejects Avanir's migraine drug-device Wednesday, 26 Nov 2014 | 5:30 PM ET

    Nov 26- The U.S. Food and Drug Administration rejected Avanir Pharmaceuticals Inc's migraine drug device, a few weeks after the regulator had raised questions regarding some data submitted as part of the marketing application. Earlier this month the FDA had asked Avanir to assess the root cause of errors observed in the data from the drugmaker's human factors...

  • Online grocers come up trumps in India's e-commerce boom Wednesday, 26 Nov 2014 | 4:00 PM ET

    By contrast, analysts say supermarkets like More, owned by the Aditya Birla Group, and Reliance Industries Ltd's Reliance Fresh are struggling to attract enough customers to make a profit as they compete with the small neighbourhood stores where most people buy food. "You can go shop at a Walmart or Tesco in the U.S. and U.K. and they have parking.

  • Teva Pharma names Peterburg new chairman Wednesday, 26 Nov 2014 | 1:39 PM ET

    Nov 26- The board of Teva Pharmaceutical Industries Ltd elected Yitzhak Peterburg as its chairman, succeeding Phillip Frost, who is due to step down at the end of the year. The company also appointed Sol Barer, the former chief executive of Celgene Corp, as a director. Teva stock was up 0.8 percent at $57.02 on the New York Stock Exchange.

  • Nov 26- Bank Leumi Le Israel BM is close to a $400 million settlement with U.S. authorities following a probe into whether it helped Americans evade taxes, Bloomberg News reported, citing a person with knowledge of the matter. Israel's second-largest lender would pay about $270 million to the Justice Department and $130 million to New York's Department of...

  • GoPro to roll out consumer drones - WSJ Wednesday, 26 Nov 2014 | 12:15 PM ET

    Nov 26- Wearable camera maker GoPro Inc is developing its own line of consumer drones, the Wall Street Journal reported, citing people familiar with the matter. The multi-rotor helicopters, priced between $500 and $1,000, will go on sale late next year, the Journal said. GoPro was not immediately available for comment.

  • Best hedge fund bet of 2014 is...India? Wednesday, 26 Nov 2014 | 11:58 AM ET
    Narendra Modi, prime minister of India.

    Hedge fund managers who focus on emerging markets have produced returns that are all over the map in 2014.

  • Nov 26- Chinese solar panel maker ReneSola Ltd reported a surprise quarterly loss as shipments fell by more than a fifth, sending the company's shares down more than 12 percent. ReneSola's peers such as Trina Solar Ltd and Yingli Green Energy Holding Co Ltd also cut their shipment forecasts this week as their focus on lower-priced markets such as China was...

  • Nov 26- Deere& Co forecast a drop in equipment sales in the current quarter as lower grain prices discourage farmers from buying tractors, harvesters and other agricultural machinery. Corn prices have fallen about 11 percent this year, on top of a decline of nearly 40 percent last year. Net income attributable to Deere fell to $649.2 million, or $1.83 per share, in...

  • Nov 26- Deere& Co, the world's largest farm equipment maker, said it expected a drop in equipment sales in the current quarter, hurt by lower corn prices and falling farm incomes. The company, which also makes construction equipment, said it expects its overall machinery sales to fall about 21 percent in the quarter ending Jan. 31. Deere's shares fell 4 percent to...