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Fed's choices 'severely limited' savings on AIG
The Federal Reserve Bank of New York gave up efforts to save taxpayer money on American International Group Inc’s rescue after the insurer’s biggest trading partners refused to make concessions, said a Treasury watchdog.

ONGC eyes 20-25% stake in Iranian gas field
The state-owned oil exploration major ONGC is eyeing 20-25 per cent stake in a giant Iranian gas field even as it awaits Tehran"s nod for its plan to develop a gas field it had discovered two years ago.

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IIA in pact with German industry body for MSMEs project
The Indian Industries Association (IIA), an apex body of SMEs, has joined hands with Germany-based Confederation of Skilled Crafts to work for a development project for micro, small and medium enterprises (MSME) in Uttar Pradesh.
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BoB cuts term deposit rates by up to 75 bps

State-run Bank of Baroda (BoB) today reduced interest rates on its various maturity deposits by 25-75 basis points. - Obama announces national standard for auto emission - 20 PSU banks fail to meet farm lending target - Rising above the tide - BoB"s Malaysian arm to go on floor in few months - BoB pips Canara Bank to become third-largest PSU bank - Bobby Jindal finalises deal to write book The rate reduction will be effective from May 27 and will be applicable for all maturities above 181 days, the bank said in a press release here. The reduction was "led by the conditions of ample liquidity, low-inflation and sluggish credit expansion in the banking industry", the bank said. A host of banks, including India"s largest lender SBI had reduced deposit rates across various maturities in the recent past, taking a cue from the RBI policy signals.


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