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Govt to introduce Food Security Bill soon
The government today said it will soon introduce a Bill to enact a Food Security law that will provide 25 kg of rice and/or wheat at Rs 3 to each family below the poverty line - a key poll promise of the Congress that heads the ruling coalition.

HDFC: Cashing in at the right time
The cost at which home loan major HDFC is borrowing Rs 4,000 crore — 7.15 per cent for two years and 7.85 per cent for three years — is very reasonable. The money will come in handy for the company to subscribe to warrants of HDFC Bank for an estimated amount of Rs 3,600 crore. The qualified institutional buyers (QIBs) who have bought the non-convertible debentures (NCDs) are also entitled to warrants, which can be converted into shares within three years at Rs 3,265 per share.

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UTI Mutual Fund to sell 26% stake by August
The country"s oldest fund house, UTI Asset Management Company (AMC), today said it will divest 26 per cent stake to a strategic partner by August this year.
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Clinton to embark on seven-nation African safari in August

Secretary of State Hillary Clinton will embark on a seven-nation African Safari next week as part of Obama Administration"s commitment to make Africa a priority in the US foreign policy. - US open to conditional talks with North Korea - Iran insists it has no plans to build nuclear weapons - US forged most comprehensive engagement with India: Clinton - Bharti, MTN officials meet DoT secy to explain deal - Vodafone Q1 revenues climb 9%; sees strong growth in India - Clinton set the pace for Indo-US relationship: State dept Just back from her second trip to Asia, with stops in India and Thailand, Clinton will virtually crisscross the African continent beginning August 5, to reach out to African people as promised by the president Barack Obama. Clinton will visit Kenya, South Africa, Angola, Congo, Nigeria, Liberia and Cape Verde as part of her visit. Obama was himself in Ghana early this month. "This trip will highlight the Obama administration"s commitment to making Africa a priority in US foreign policy. This will be the earliest in any US administration that both the President and the Secretary of State have visited Africa," said Ian Kelly, the State Department spokesman. Nairobi, the Kenyan capital, will be Clinton"s first stopover; where she will attend the 8th US – SubSaharan Africa Trade and Economic Cooperation Forum (known as the AGOA Forum). While in Kenya, Clinton will discuss new approaches to development, including an emphasis on investment and broad-based economic growth. She will be joined in Kenya by Secretary of Agriculture Tom Vilsack; US Trade Representative Ron Kirk, and Assistant Secretary for African Affairs Johnnie Carson.


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