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Dubai crisis singes markets
The markets succumbed to Dubai debt repayment crisis in the latter half of the week. The Smart Portfolios benchmark, the S&P CNX 500 index swung in a range of nearly 6 per cent - from a weekly high of 4,217 the index tumbled to a low of 3,967. The index finally ended the week with a loss of 1.9 per cent (79 points) at 4,069.

Need to make SEZ laws error-free
Trinamool Congress leader and new Railway Minister Mamata Banerjee has called for a review of the Special Economic Zones (SEZ) policy. Whoever takes over as the Union commerce minister will have to do it in any case, as it is nearly four years since the SEZ Act, 2005, came into effect and over three years since the SEZ Rules, 2006, were put in place. A performance assessment can do no harm but certainly the SEZ developers who have already acquired land and sunk their money in developing infrastructure and the units, which have obtained approvals and started their operations, should not be left wondering for long as to whether any policy changes will affect them. They need to be assured quickly that any policy changes will affect only the intending SEZ developers and SEZ units.

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Credit offtake growth slows to 9.8%
The government today said credit growth from banks has slowed down to 9.8 per cent till November 6 in the current fiscal against 27.7 per cent in the corresponding period a year ago.
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Audi sales jump two fold in September

Luxury carmaker Audi India today reported over two-fold increase in its sales in September at 205 units over the same period last year. - Toyota to strengthen dealership network by 65% by 2010 - Ashok Leyland expects 5% domestic sales growth this fiscal - Mercedes Benz launches E-Class - Bajaj Auto mulls assembly plant in Brazil - Volkswagen starts sourcing auto components from India - Ashok Leyland Sept sales decline 11.86% The company had sold 81 units in September, 2008, Audi India said in a statement. "Audi India continues its growth momentum in September as well. Our increasing sales indicate the growing dominance of brand Audi amongst car enthusiasts in the country and we are keen to build on this strong foundation," Audi India Managing Director Benoit Tiers said. The company"s sales in the first nine months have also soared by 71.56 per cent at 1,333 units as against 777 units in January-September period last year. "Audi India has recorded strong growth all year around in spite of the difficult market conditions," the company said.


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