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Essar Steel's Hazira expansion by year end
Essar Steel’s $2.5 billion (about Rs 12,500 crore) capacity expansion project at its Hazira plant in Gujarat will be completed by the end of this calendar year.

Web Excl: Restoration of tax breaks on natural gas output
Section 80-IB (9) of the Income Tax Act, 1961 (‘Act’) provides for a tax holiday to an undertaking engaged in commercial production of mineral oil or refining of mineral oil. Tax holiday is available for a period of 7 consecutive tax years, starting from the year in which the undertaking begins commercial production or refining of mineral oil.

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Experts stress on tapping retail sector
The budding corporate managers need to tap the huge potential offered by the retail sector which is the second largest employer in the country after agriculture and the retailers need to imbibe a work culture driven by productive performance.
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Govt urges US regulator not to punish Satyam

India has requested the US Securities Exchange Commission (SEC) not to impose any fine on Mahindra Satyam, formerly Satyam Computer Services Ltd (SCSL), as this will impede the new entity’s rehabilitation. - AOL to lay off one-third of its workforce - Intel to pay AMD $1.25 bn, settle all disputes - SEC shares info with CBI on Satyam scam probe - European Commission objects to $7.4 bn Sun-Oracle deal - Cognizant buys UBS captive unit for $75 mn - ADRs gain $11 bn in September The SEC has been probing the company, which is also listed on the New York Stock Exchange (NYSE), after founder-head Ramalinga Raju disclosed that his company’s accounts had been cooked for years. The scam, according to the Central Bureau of Information (CBI), could be to the tune of Rs 14,000 crore and not Rs 7,800 crore, as claimed by Raju initially. “(Mahindra) Satyam has been put back on its feet. The biggest jolt in the Satyam fraud was to the shareholders and if the SEC imposes a penalty, they will be impacted. It will be a setback to the company, which is in the process of being rehabilitated,” said Salman Khurshid, Union minister for corporate affairs. He was speaking at the sidelines of a conference at the Indian Institute of Social Welfare and Business Management here.


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