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Nov 16 2012, 02:29 IST
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SummaryArcelorMittal on Thursday said it has reached a pact to sell its 50% stake in South African miner Kalagadi Manganese for $447 million to chairperson of joint venture partner Kalahari Resources.

the engines produced at the plant in Pithampur, central India, Persson said.

Airtel African customers need not pay roaming fee

Bharti Airtel has made international roaming on incoming calls free for all its African subscribers when they roam on Airtel’s Southern Asia network of India, Bangladesh and Sri Lanka. A statement released by Airtel explained that currently the value of trade between the two trading partners, India and Africa stands at $60 billion and India is the main destination for most of African travellers for trade, tertiary educational institutions and affordable medical facilities, a reason that prompted the company to make roaming free.

TCS collaborates with SAP for app development

Tata Consultancy Services (TCS) has collaborated with SAP AG on the development of their retail execution mobile app version 3.0. The new version will improve productivity of CPG sales representatives during store visits and to provide merchandisers and promotions planners with critical insights on product placement and distribution and promotional impact. It integrates mapping, phone, camera and e-mail features on a mobile device, enabling sales teams to drive business processes and initiate business events from any location.

Monnet Ispat Q2 net down 7% to R71.29 cr

Steel and power producer Monnet Ispat and Energy’s standalone net profit declined by 7.34% at R71.29 crore in the second quarter of the current fiscal on higher finance costs and tax expenses. The company had reported R76.94 crore net profit in the July-September quarter of the last fiscal, it said in a filing to the BSE. Net income of the company during the quarter, however, went up to R549.40 crore compared with R458.55 crore in the year ago period.

Vedanta seeks Moily’s nod for exploration

Vedanta Resources chairman Anil Agarwal has sought intervention of the new oil minister M Veerappa Moily to help his group firm Cairn India raise output from the Rajasthan oil fields by allowing further exploration the prolific block. Cairn India is looking to increase Rajasthan field output from current level of 175,000 barrels per day (bpd) to 300,000 bpd (15 million tons per annum) and had several months back made an application to the oil ministry seeking permission to explore within the ring-fenced development area that contains 25 oil and gas finds.

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