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Markets in positive territory
After having opened marginally in the red, the markets have rebounded in line with their Asian counterparts. Asia is largely trading in the green after the Federal Reserve raised the US growth forecasts for 2010. The US markets also ended off their lows, albeit marginally weak, after the Fed raised the GDP forecast.

Pranab hints at subsidy rollbacks to rein in fisc
Finance Minister Pranab Mukherjee today signalled that the government’s economic reform strategy would focus on fiscal consolidation, debt management and mobilising additional resources through disinvestment proceeds. The emphasis would be on curbing subsidies and promoting private sector investment by continuing stimulus measures.

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Production contracts shouldn't be tweaked by anyone: RIL
Energy major Reliance Industries today said that Production Sharing Contracts (PSCs) like the one it had signed for KG-D6 fields with the government should not be tampered with by anyone to maintain their credibility.
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10-day CAT exam to begin today

To avoid any kind of misuse or instances of cheating during the 10-day computerised Common Admission Test (CAT), which begins tomorrow, the Indian Institutes of Management (IIMs) have published a legal disclaimer which, if flouted by any student, can attract imprisonment and a fine. - MeritTrac plans to invest Rs 20-cr to up offerings - 2.4 lakh students to vie for 1st paperless CAT - CAT "09 registration extended to Oct 11 - Cabinet nod for 7 new IIMs, Rs 1,000 cr earmarked">Cabinet nod for 7 new IIMs, Rs 1,000 cr earmarked - Govt invites applications for directors at 4 new IIMs - Computer-based CAT exam"s pattern unlikely to change “Disclosing, publishing, reproducing, transmitting, storing, or facilitating transmission and storage of the contents of the CAT or any information therein in whole or part thereof in any form or by any means, verbal or written, electronically or mechanically for any purpose, shall be in violation of the Indian Contract Act, 1872 and/or the Copyright Act, 1957 and/or the Information Technology Act, 2000. Such actions and/or abetment thereof as aforementioned may constitute a cognizable offence punishable with imprisonment for a term up to 3 years and fine up to Rs 2,00,000,” the legal disclaimer on the CAT website reads. CAT has traditionally been a paper-pencil test, which required about three-and-half hours to administer. From now on, it will be a computerised test spread over 10 days across 32 cities. Considering that CAT is being computerised for the first time, the Indian Institutes of Management (IIMs) do not want to leave anything to chance, say MBA test-preparing institutes.


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