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iGate to hire 1,500 people next year
Seeing a rebound in IT outsourcing contracts, IT services provider iGate today announced that it plans to hire 1,500 people in the calendar year 2010. Phaneesh Murthy, CEO of the Nasdaq-listed company said iGate"s plan to increase the headcount was a reflection of the business environment.

Share of hot money in forex reserves up
The ratio of volatile capital flows, comprising cumulative portfolio investments and short-term debt, to India’s forex reserves moved up to 51.1 per cent at the end of March 2009 from 45.4 per cent a year ago. This ratio was 46.2 per cent at the end of March 2007.

News of the day

US nuclear firms pitch for liability regime
US companies such as GE Hitachi Nuclear Energy, Westinghouse and Babcock & Wilcox have made a strong case for an early passage of the Civil Liability for Nuclear Damage Bill by Parliament. The Union Cabinet has already cleared the Bill, which is expected to be tabled in Parliament during the ongoing winter session.
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Govt to issue oil bonds worth Rs 10,300 cr to IOC, BPCL, HPCL

The government may issue Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) Rs 10,300 crore worth of oil bonds this week to compensate these companies for the losses they have incurred on fuel sales in last fiscal. The bonds, which will come over and above Rs 61,800 crore already issued to the three companies, would help them bridge the revenue loss they incurred on sale of petrol, diesel, LPG and kerosene in 2008-09, a Petroleum Ministry official said.


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