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Lloyds Banking to raise $22.3 billion in rights issue
Lloyds Banking Group Plc, the UK’s biggest mortgage lender, plans to raise a record 13.5 billion pounds ($22.3 billion) in the country’s biggest rights offering, selling shares at a 59.5 per cent discount. The bank gained in London trading.

Acute labour shortage spoiling coffee party
An acute labour shortage is hurting coffee production in Karnataka, which accounts for around 70 per cent of the country’s coffee output.

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Equally expensive
Though the Congress party had allocated Saifuddin Soz a seven-seater helicopter for campaigning in far-flung areas of Jammu & Kashmir, he chose to use road transport. It was only when someone pointed out that the idle chopper was also costing his party a lot that Soz decided to use it to go to Ladakh.
Business Ideas

Citibank launches new credit card rewards platform

Citibank India today said it has launched a new rewards platform-CitiRewards, targeting customers who hold Citi-branded credit cards. - ICICI to block all cards in case of default on one - Agriculture credit offtake nosedives - Surety for you, security for the bank - PNB aims to issue 200,000 global credit cards by March 2010 - Credit card balances" growth declines to all-time low - Citibank posts 24% rise in total revenues">Citibank posts 24% rise in total revenues "This new platform transforms rewards from being an add-on product of card ownership to the center of customer experience," Citi India Business Manager (Cards), Sandeep Bhalla, said in a statement released here. The platform offers customers the choice of over four- million products for redemption of their reward points-from travel to electronic goods, Shoppers Stop gift vouchers and home-delivered flowers to fitness clothing and shoes. In addition, via Citi Rewards, customers of the Citibank Platinum Select and Citibank Titanium Cash Rewards credit cards can also redeem their points to pay-off their card outstanding dues or for air miles across multiple airlines in the country.


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