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Aluminium demand may rise in 2010
Aluminum consumption in Asia may continue to grow next year as stimulus measures in China, the world’s biggest metals consumer, and rest of the region lift demand for the metal, an executive at Novelis Korea said.

Double taxation of computer software yet to be redressed
Budget 2009 contained important proposals in regard to exempting packaged software from customs duty, on importation, and on excise duty, with regard to domestic supplies, to the extent that such software is purportedly chargeable to the service tax. The proposals attempted to redress the problem of potential double taxation that arises in regard to such software. Earlier articles in this column had highlighted the problem of double taxation in relation to several transactions including the service taxation of packaged software post the changes announced in the Budget 2009.

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Retailers upbeat on 2010; line up Rs 600 cr for investment
The country’s largest retailers — Future Group, Spencer’s Retail and Shoppers Stop — have lined up investments of at least Rs 600 crore for 2010.
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Standard gold hits Rs 16,700 level in early trade

Standard gold prices crossed Rs 16,700-level for the first time in the history on the bullion market in the early trade on hectic stockists buying triggered by rise in the global market. - Blinded by lustre? - Gold futures at record high of Rs 16,254 per 10 gm - Gold climbs to all-time high this week - Gold sets new peak at Rs 16,250 on Diwali buying, global cues - Silver surges to one-year high - Low inflation to keep gold prices under check Sharp rise in the global markets mainly boosted gold prices in domestic market, a dealer said. Standard gold (99.5 purity) firmed up by Rs 45 per ten grams to resume at Rs 16,710 as against the last weekend"s level of Rs 16,665. Pure gold (99.9 purity) also shot up to Rs 16,790 from last weekend"s level of Rs 16,745. Silver ready (.999 fineness) jumped by Rs 175 per kilo to Rs 27,880 from Rs 27,705 previously. Cash gold hit a high of $1,104.80 an ounce, surpassing Friday"s lifetime high of $1,100.90, with a jump in oil prices and overall bullish sentiment due to India"s recent gold buying spree. Gold has gained more than 25 per cent in 2009, driven by persistent weakness in the US currency that has lost more than 6 per cent versus the euro to date this year.


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