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Fuel companies absorbed Rs 26.6k cr losses on sales in 5 years: Oil Ministry

2014-10-03 12:55:28| Oil & Gas - Topix.net

With CAG castigating state-owned fuel retailers for overcharging customers by Rs 26,626 crore over 5 years, Oil Ministry has defended the PSUs saying they had absorbed Rs 28,680 crore in losses on fuel sales during that period. The Comptroller and Auditor General of India in its latest report stated that Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp overcharged customers by Rs 26,626 crore from 2007-08 to 2011-12 by charging notional levies like customs duty on fuel they sold.

Tags: years sales companies oil

 

Stocks Pare Losses, Turn Positive; TrueCar Firms Up

2014-10-02 23:46:18| Semiconductors - Topix.net

The Nasdaq fell 1.2% early but recovered for a gain of 0.2% in late-afternoon trading. The S&P 500 and the Dow Jones industrial average each rose 0.1%.

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Zimbabwe: Starafrica to Reduce Process Losses

2014-09-30 10:52:29| Sugar Industry News

Starafrica corporation expects to reduce process losses to below 4 percent from an average of 13 percent after completion of its sugar refinery plant. The plant is in the final phase of commissioning after a $7 million upgrade funded by major shareholder, the National Social Security Authority. Deputy general manager Mr Rod Nazare said during a media and analyst tour of the plant that the upgrade would cut process losses below 4 percent.

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RBS says 'bad loan' losses reduced

2014-09-30 10:29:00| BBC News | Business | UK Edition

State-owned Royal Bank of Scotland says an improving economy means it can free up 800m from the pot of money set aside to cover losses on bad loans.

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TSX extends losses, Encana speeds up shift to liquids in US$7.1B deal

2014-09-29 17:50:14| Energy - Topix.net

The Toronto stock market resumed last week's selloff Monday amid news of a major acquisition in the energy sector and another round of concerns about Chinese economic growth. The S&P/TSX composite index lost 158.48 points to 14,868.29 with all sectors contributing to the slide after falling 1.55 per cent last week.

Tags: deal shift losses extends

 

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