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Bhupesh Bhandari: Korea's nuclear bomb
Some time in the summer of 1997, LG had thrown a party in Delhi. The Korean chaebol had set up shop in the country and was in a mood to celebrate. It had earlier joined hands with C K Birla but the joint venture fell through even before it could start. Globally, it had gone through a brand makeover from Lucky Goldstar to LG. It was now ready to have a go at India. At the party, K R Kim, the head of LG in India, took a few guests aside and said he knew how to make a nuclear bomb. The nasal voice was little more than a whine. Before anybody could ask how, he called a bearer, mixed whiskey in beer and handed it over to the guests — enjoy the nuclear bomb! generic levitra

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United Breweries Q1 net up 57% YoY
United Breweries (UBL), India"s largest brewery controlled by Indian billionaire Vijay Mallya, has posted a strong 57 per cent increase in net profit to Rs 35.5 crore for the first quarter of current fiscal as against the corresponding period of last fiscal. Net sales at Rs 556.4 crore was up 17 per cent, powered by a 25 per cent growth in strong beer.

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Sensex intra-day range at new low
The intra-day movement for the Sensex, that is, the difference between the day’s high and low, has dipped to historically low levels in recent months. In fact, intra-day volatility was at its lowest in September since the Sensex crossed the 15,000 mark in July 2007.
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BSNL fails to retire Rs 7,500 cr govt loan: CAG report

State-run Bharat Sanchar Nigam (BSNL) failed to retire a government loan of Rs 7,500 crore despite having a cash-reserve of Rs 18,829 crore as on March 2005, leading to an excess expenditure of Rs 1,089 crore on interest payment during 2005-07. - Sterlite Technologies wins Rs 372 cr BSNL contract - Fin Min-led GOM to handle 3G spectrum issues - BSNL to provide bandwidth for SWAN - BSNL mulls stake sale to foreign investor - Budget may give revenue targets from BSNL listing, 3G auction - BSNL, MTNL drop '95' group dialling across the country "BSNL failed to retire government loan of Rs 7,500 crore inspite of having adequate cash reserves of Rs 18,829 crore as of March 2005 parked in bank deposits with average rate of return of 6.19 to 7.38 per cent per annum against the rate of interest of 14.50 per cent for the loan, the CAG report on Telecom sector tabled in the Parliament today said. "This imprudent financial management resulted in excess expenditure of Rs 1,089 crore on interest payment," it added. BSNL, created in October 1, 2007, had received all assets and liabilities of the previous telecom units like Department of Telecom Services (DTS) and Department of Telecom Operations (DTO) at a provisional value of Rs 63,000 crore, including government of India loan of Rs 7,500 crore. The loan was for a period of 15 years, with repayment of principles in equal annual installments and interest at government prevalent lending rate of 14.5 per cent.


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