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  • PUDUCHERRY, India, Oct 4- The Reserve Bank of India Governor Duvvuri Subbarao said on Thursday there was a need to bring down inflation further and the central bank's effort will be to rein in inflation while supporting growth. He was speaking to reporters in the southern city of Puducherry after the central bank's board meeting.

  • Business spooked by UK tax avoidance clampdown Thursday, 4 Oct 2012 | 6:26 AM ET

    LONDON, Oct 4- The activists who have protested in recent months at the tax arrangements of some leading British companies are united with many politicians in wanting to cut corporate tax avoidance.

  • The European Central Bank is not expected to cut rates at the monthly policy making session despite weaker economic data, but was seen likely to be pressed on negotiations with Spain over its financing needs in the news conference which follows.

  • PUDUCHERRY,, Oct 4- India's final fiscal deficit level would be an important variable for the central bank's monetary policy stance, Duvvuri Subbarao, the governor of the Reserve Bank of India said on Thursday. The government aims to keep the fiscal deficit at 5.1 percent of the GDP in 2012/ 13 fiscal year that ends in March.

  • *Oil India to get 20 pct, Indian Oil Corp 10 pct in Niobrara shale acreage. and Indian Oil Corp have jointly bought a 30 percent stake in Houston- based Carrizo Oil& Gas's Niobrara shale asset in Colorado for $82.5 million, the companies said in a statement.

  • Indian shares hit multi-month highs; financials rally Thursday, 4 Oct 2012 | 6:11 AM ET

    MUMBAI, Oct 4- India's main BSE index rose to a 15- month high, while the NSE index hit 17- month highs, after the government's reform proposals for the insurance and pension sectors sparked gains in financial stocks such as State Bank of India and ICICI Bank. State Bank of India gained 2.2 percent, while ICICI Bank rose 3.1 percent.

  • *Japan smelter offers $85 a tonne for 2013 vs $100 for 2012* Top producer Codelco said to be mulling $105 a tonne. TOKYO, Oct 4- Japan's biggest copper smelter, Pan Pacific Copper, is in talks with buyers in China to slash its term premium for 2013 shipments by 15 percent from this year, a source familiar with the matter said, as demand slows in the metal's top consumer.

  • *Seadrill may move to London, Singapore* CEO Thorkildsen disagreed with move, leaves firm.

  • NEW DELHI, Oct 4- State explorer Oil India. plans to raise $100 million in foreign loans by December to part-fund its stake buy in Carrizo Oil& Gas's. Earlier, Oil India and Indian Oil Corp said they have jointly bought a 30 percent stake in Houston- based Carrizo's Niobrara shale acreage in Colarado for $82.5 million.

  • LONDON, Oct 4- Turkish stocks fell 1.6 percent on Thursday and credit default swaps jumped after a sharp escalation in political risks caused by retaliatory military raids within the Syrian border. "Clearly a short-term risk for Turkey and Turkish assets," said Simon Quijano-Evans, chief EEMEA economist at ING. MSCI emerging stocks rose 0.3 percent.

  • *Japan smelter offers $85 a tonne for 2013 vs $100 for 2012. TOKYO, Oct 4- Japan's biggest copper smelter, Pan Pacific Copper, is in talks with buyers in China to slash its term premium for 2013 shipments by 15 percent from last year, a source familiar with the matter said, as demand slows in the metal's top consumer.

  • BANGKOK, Oct 4- Thailand's PTT has won approval to build the second phase of a liquefied natural gas receiving terminal worth 21.4 billion baht, the Energy Ministry's National Energy Policy Office said on Thursday.

  • UN atomic agency says no date set for fresh Iran talks Thursday, 4 Oct 2012 | 5:49 AM ET

    SYDNEY, Oct 4- The U.N. atomic agency has yet to agree a date for further talks with Iran and has little hope for a speedy resolution to a standoff with Tehran over its nuclear programme, the head of the nuclear watchdog said on Thursday.

  • By Anurag Kotoky NEW DELHI, Oct 4- Kingfisher Airlines Ltd's. efforts to resolve a labour dispute were dealt yet another blow after a group of employees said negotiations in Delhi had "ended in failure" because the Indian airline did not commit to paying overdue salaries.

  • By Saeed Azhar and Kelvin Soh SINGAPORE/ HONG KONG, Oct 4- Standard Chartered's. Six of Standard Chartered's 16 directors hold executive positions at the bank, including CEO Peter Sands, Finance Director Richard Meddings and Asia Chief Executive Jaspal Bindra.

  • Indonesia raises 7.5 trln rph bonds, yields falls Thursday, 4 Oct 2012 | 5:43 AM ET

    JAKARTA, Oct 4- Indonesia raised 7.5 trillion rupiah worth of government bonds from an auction on Thursday, above a 5 trillion rupiah target, with yields falling amid strong demand, the debt office said. There were 18.83 trillion rupiah of incoming bids, compared to 11.9 trillion rupiah in a Sept 25 auction.

  • HONG KONG, Oct 4- Strong growth in the offshore yuan bond market is luring more global issuers to tap the nascent market, yet Beijing's tight grip over the repatriation of proceeds to mainland China remains a key concern, Royal Bank of Scotland said on Thursday.

  • Shops stay closed in Tehran bazaar after clashes Thursday, 4 Oct 2012 | 5:31 AM ET

    Several traders from the bazaar, whose merchants played a major role during Iran's 1979 Islamic revolution, told Reuters by telephone that most stores were closed as businessmen stayed away for safety reasons.

  • LONDON, Oct 4- A leading media watchdog has accused Iran of trying to cow journalists into silence and self-censorship, adding to international pressure on Tehran over its treatment of activists and the press.

  • India's NALCO sells aluminium at $242/T premium Thursday, 4 Oct 2012 | 5:08 AM ET

    BHUBANESWAR, Oct 4- India's state-run National Aluminium Co has sold 3,000 tonnes of aluminium ingots at $242 per tonne premium over the average LME cash price on a cost, insurance and freight basis, two company sources said on Thursday. The metal will be shipped to the Singapore- based buyer in six batches of 500 tonnes each from November to April.