Briefly Business: India seeks cut in distorting agri subsidies by US,EU

Developing nations including India are pressing for reduction of trade distorting agriculture subsidies by the US and the EU,Parliament was informed

India seeks cut in distorting agri subsidies by US,EU

New Delhi: Developing nations including India are pressing for reduction of trade distorting agriculture subsidies by the US and the EU,Parliament was informed on Monday. India and other WTO Members have been seeking reduction in trade distorting domestic support of both these Members in the agriculture negotiations under the Doha Round of trade negotiations in the WTO, minister of state for commerce D Purandeswari said in the Lok Sabha.

R-Com hikes mobile call rates by up to 30%

Mumbai: Reliance Communications on Monday said it has hiked mobile call rates for both its GSM and CDMA pre-paid customers by up to 30 per cent to improve the profits. New tariffs will apply to all customers with immediate effect and the move is aimed at bringing in greater RPMs (revenue per minute) and profitability,R-Coms CEO for wireless business,Gurdeep Singh said in a statement.

McAfee to acquire Stonesoft for $389 mn

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Mumbai: Security software maker McAfee said here on Monday that it will acquire Finland-based Stonesoft Oyj for about $389 million in cash. Through the pending acquisition of Stonesoft,McAfee expects to extend its leadership position in network security,it added.

Walmart probe panel to submit report soon

New Delhi: A government-appointed panel probing Walmarts lobbying with the US lawmakers for its entry into Indian market will submit its report within a fortnight,wherein it may also suggest framing rules in India for lobby activities by companies.

Mahindra launches Bolero Maxi Truck Plus

Mumbai: Mahindra & Mahindra has rolled out a new variant of its pick-up vehicle,Bolero Maxi Truck Plus,priced at Rs 4.33 lakh (ex-showroom Mumbai).