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IKEA to create 10,000 jobs in Maharashtra over next 3 years

PTI   MUMBAI Swedish furniture giant IKEA is planning to hire 10,000, both direct and indirect, in Maharashtra over the next two to three years, a senior company executive has said. The company opened its first store in Hyderabad in August this year, and the Navi Mumbai will be the second store in the country. “Next year, we are opening …

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Connectivity projects must respect countries sovereignty, says Gokhale

IANS   NEW DELHI In what can be seen as remarks targeting China’s Belt and Road Initiative (BRI) project, Foreign Secretary Vijay Gokhale on Thursday said that regional connectivity projects should respect the sovereignty and territorial integrity of all countries. “Physical hardware of connectivity across nations can only sustain itself in a common and universally applicable rules-based world order,” Gokhale …

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Cabinet approves promulgating ordinance to amend companies law

NEW DELHI The Union Cabinet on Thursday approved promulgating an ordinance to amend the Companies Act, according to a source. The Corporate Affairs Ministry, which is implementing the Act, has been looking at ways to promote ease of doing business as well as ensure better compliance levels. The proposal to promulgate an ordinance for amending the Companies Act, 2013, was …

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Goa Shopping Festival underway at Mapusa

PANAJI: Goa Shopping Festival, the lifestyle shopping festival exhibition is underway for the first time at Mapusa, opposite Bodgeshwar temple and will be open for public until November 5, from 11 am to 9 pm. There are exclusive offers on home, office, dining tables, varieties of sofa sets, Poonam Furniture, exclusive garden furniture, air conditioner, money counting machine, SleepWell mattress …

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Modi to announce more sops for MSME sector

IANS   NEW DELHI Prime Minister Narendra Modi will on Friday launch a 100-day programme to promote micro, small and medium enterprises (MSMEs) through several measures including easy access to credit in 100 “aspirational” districts of the country. “The programme is aimed at handholding the MSMEs, enabling them to get easy access to credit and helping them build linkages with …

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Illegal cracker unit operating in garb of clinic busted in UP

IANS   LUCKNOW An illegal firecracker unit operating under the garb of a homeopathic clinic was busted in Uttar Pradesh’s Etawah district on Wednesday and crackers worth Rs 50 lakh were seized, police said. The men present at the clinic, which has now been sealed, did not possess any license to manufacture and sell fire crackers. The owner of the …

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Section 7 of RBI Act empowers govt to issue directions to RBI

PTI NEW DELHI Section 7 of the RBI Act, hogging headlines following reported differences between the North Block and the Mint Street, empowers the central government to issue directions to the Reserve Bank in public interest. The section 7 (1) of the Reserve Bank of India Act, 1934, however has never been invoked by the government so far. The Finance …

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ECONOMIC SCAN

Programme on six sigma, seven QC tools PANAJI: The Goa State Industries Association (GSIA) is organising a one-day program on “six sigma & seven QC tools” on November 14, from 9.30am to 5.30 pm. The workshop will cover SIPOC approach, DMAIC principle, industrial statistics, process capability study, 7 quality control tools and interactive session. It is intended for production and quality department …

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Tax base widens but buoyancy still missing

By D M Deshpande A narrow tax base has always been a bane of Indian fiscal system. As a result, time and again, governments have resorted to rely more on indirect taxes, no matter even if they are highly regressive. That is why the reported surge in the numbers of individuals who have declared an income of Rs 1 crore …

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Godrej Locking Solutions aims Rs 720 cr business

NT NETWORK   PANAJI Madkai based, Godrej Locking Solutions and Systems, a Godrej Group company, is eyeing revenues in the region of Rs 720-750 crore for 2018-19, the current financial year. Longer term the company is aiming for Rs 1,000 crore revenue by 2022 by betting on premium locking solutions and focusing on new categories like architectural hardware and kitchen …

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