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CAD narrows to $300 mn in Q1 on massive import contraction

The current account deficit (CAD) narrowed sharply to just USD 300 million, or 0.1 percent of GDP, in the June quarter, driven by lower trade deficit on deeper import contraction, the Reserve Bank said today.
GM recalls 1.5 million more vehicles

In the last two months, GM has recalled more than 3.1 million vehicles in the United States and other markets. The actions started with last month's recall of more than 1.6 million vehicles for faulty ignition switches.
Etihad deal delay to impact Jet's $300mn ECB issue: Sources

The next few days will be very crucial for the deal when all the ministries and other agencies look at every aspect of these bilateral rights which are very important part of the entire Jet-Etihad deal
Power Finance Corp eyeing sizeable stake in state-run bank

Satnam Singh, Chairman, PFC said, "We are looking to buy a substantial stake in a PSU (public sector unit) bank which will allow us to have a representation at the board level,"

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