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UP industry seeks new industrial policy
Industry in Uttar Pradesh has demanded a new industrial policy, which should comprise a judicious incentive package for attracting investment in the industrial sector. http://smallpersonalloans.org.uk

PwC tax head, others quit to join KPMG
PricewaterhouseCoopers’ (PwC’s) head of tax practice Dinesh Kanbar, and close to a dozen other senior tax executives, are leaving the firm to join rival KPMG.

News of the day

Atlas Acquisition to buy Koosharem Corp for $840 mn
Dabur"s promoter family member Gaurav Burman-led Atlas Acquisition today said it will acquire US-based staffing and employment services company Koosharem Corporation for $840 million (around Rs 3,900 crore) and merge with itself.
Management

IOB net dips 51% to Rs 176 cr

Indian Overseas Bank today reported 51 per cent decline in its net profit at Rs 176.04 crore for the second quarter ended September 30, 2009. Total income of the state-run lender, however, increased to Rs 2,922.33 crore during the quarter under review from Rs 2,643.26 crore in the corresponding period a year ago, IOB said in a filing to the Bombay Stock Exchange (BSE). Jan cement sales in high double-digit The bank"s total deposits grew 20.54 per cent to Rs 1,094.35 crore during the period and the total business increased 17 per cent to Rs 1,87,853 crore. The bank"s interest income rose 5.06 per cent to Rs 2,549.95 crore during the September quarter. The bank"s capital adequacy ratio increased to 14.27 per cent at the end of September 30.Shares of IOB were trading at Rs 110.80, down 4.61 per cent in afternoon trade on the BSE.


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