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Weakened Congress wondering if early elections will help
The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term. Full Article
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NMDC's $1.2 billion share sale likely on Dec 13
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Labourers work inside an iron factory on the outskirts of Jammu November 12, 2012.
Credit: Reuters/Mukesh Gupta
MUMBAI |
MUMBAI (Reuters) - The government's share selldown in state-run miner NMDC Ltd(NMDC.NS) to raise roughly $1.2 billion is likely to be launched on December 13, three sources with direct knowledge of the situation said on Thursday.
The government, which owns 90 percent of NMDC, plans to sell a 10 percent stake in the company. All the sources declined to be named as they were not authorised to speak to the media.
Last week, the government raised about $147 million by selling shares of state-run Hindustan Copper Ltd.(HCPR.NS), kick-starting a stalled divestment programme that is crucial to reining in a ballooning fiscal deficit.
(Reporting by Sumeet Chatterjee; Editing by Anupama Dwivedi)
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