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Forex reserves fall by $144 mn to $283.4 bn
India"s forex reserves declined by $144 million to $283.499 billion in the week ended December 25 as compared to $283.643 billion in the previous week, the Reserve Bank of India (RBI) said in its weekly report.

Govt scouts for lead-managers for NMDC selloff
Taking the disinvestment process in iron ore producer NMDC forward, the government today invited applications for appointment of lead managers to advise it on the timing of the public issue, among other aspects.

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Bye bye, brand name
Self-deprecating humour isn’t something one sees too much of in this country (where making fun of others is held a nobler pursuit than laughing at one’s own foibles), so I’m always pleased to read Saad Akhtar’s webcomic Fly, You Fools! (People are Mindless Cattle), a good-natured, witty take on some of the things we read about in the newspapers every day. It isn’t brilliantly written or drawn (in fact, it mostly uses photos and mixed media rather than fresh illustrations) but it’s goofy and perceptive, casting fresh light on (among other things) security checks at mall entrances (http://tinyurl.com/5s25pe), rich kids mowing down pavement-dwellers in their Mercs (http://tinyurl.com/mhpwep), and loud honking at traffic signals as a substitute for sexual inadequacy (http://tinyurl.com/kl7knc).

Vice Prez, PM pay homage to Basu.

Vice President Hamid Ansari and Prime Minister Manmohan Singh today visited the CPI (M) headquarters here to pay homage to Marxist veteran Jyoti Basu. - Prachanda suspicious about India"s role, keen to meet Manmohan - Sanjaya Baru: RBI - an institution India deserves">Sanjaya Baru: RBI - an institution India deserves - Professionals to manage cultural resources: PM - PM for modern technology, management to preserve heritage - Kanchan Gupta: Relooking West Bengal">Kanchan Gupta: Relooking West Bengal - Aligning with China in Copenhagen a mistake: Bhagwati Singh reached the AKG Bhawan at Gole Market, the CPM Headquarters, at 11.10 am and paid floral tributes to Basu, who died in Kolkata yesterday after fighting a battle with pneumonia. The Prime Minister also signed the condolence book. Earlier, Ansari paid floral tributes to Basu and also signed the condolence book. CPI(M) Politburo members Sitaram Yechury and K Vardarajan were present at the party headquarters when the Prime Minister visited it. contractors stucco

Farewell to basu amid chorus, chaos.

Jyoti Basu remained as popular in death, as he was when alive. The Marxist leader"s far-reaching appeal ensured that the country"s political establishment, irrespective of party affiliations, paid their last respects to the CPI(M) patriarch on Tuesdsay, save Trinamool Congress chief Mamata Banerjee. - Sheikh Hasina leaves Dhaka to attend Basu"s funeral - Basu"s final journey begins - A gentleman communist - B"desh Parliament mourns Basu"s death - Mourners throng Basu"s home, party HQ to pay homage - Vice Prez, PM pay homage to Basu UPA chairperson Sonia Gandhi, Finance minister Pranab Mukherjee, Agriculture minister Sharad Pawar, BJP"s LK Advani and Nitin Gadkari, former Samajwadi Party leader Amar Singh, former Prime Minister HD Deve Gowda, RJD chief Lalu Prasad and Jharkhand Chief Minister Shibu Soren were present, apart from the CPI(M)"s Prakash Karat, Brinda Karat and Sitaram Yechury. Bangladesh Premier Sheikh Hasina, too, returned to India just for Basu, days after returning to Dhaka after a state visit here. foreign exchange toronto

Sheikh Hasina leaves Dhaka to attend Basu's funeral.

Bangladesh Prime Minister Sheikh Hasina today left for Kolkata along with several Cabinet ministers to attend the funeral of Marxist patriarch Jyoti Basu. - Sonia, leaders to pay homage to Basu - B"desh Parliament mourns Basu"s death - Mourners throng Basu"s home, party HQ to pay homage - India agrees to cede 17,000 acres to Bangladesh - BNP to protest "compromising" treaties with India - Get your facts right Ruling Awami League led Grand Alliance partners Jatiyo Party chief and former President H M Ershad, Worker"s Party chief Rashed Khan, Jatiyo Samajtantrik Dal president Hassanul Haque Inu were among others accompanying Hasina at an air Force jet that flew off to Kolkata. Plasma cut

Vavasi-led group appoints valuer for Zain telco deal.

India’s Vavasi Group and Malaysia’s Al Bukhary Group have together appointed a merchant banker for conducting due diligence and fixing a valuation of Kuwait’s Zain Telecom. The two, along with BSNL and MTNL, the state-run telecom majors, have shown interest in jointly buying a 46 per cent stake in Zain. - BSNL, MTNL offered majority in Zain SPV - Zain-y - SIS aims to sell 10,000 video telephony devices by Dec "09 - BSNL aims at covering Uttar Pradesh (East) circle by fiscal-end - BSNL, MTNL offered majority in Zain SPV - Acquisition talks for Zain Telecom begin Sources close to Vavasi told Business Standard the group has informed both PSUs about the advisor. However, BSNL and MTNL would be conducting their own due diligence and valuation. After the two independent studies, the consortium would decide the price it would like to offer.