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(MENAFN - AFP) Energy giant Reliance Industries Ltd reported a marginal rise in quarterly profit Friday, with billionaire tycoon Mukesh Ambani saying his company had turned in a "satisfying" full-year performance.

Reliance, which operates the world's biggest refining complex, said net profit for its fourth quarter ended March 31 rose 0.8 percent to 56.3 billion rupees ...

 

(MENAFN - AFP) Giorgio Armani settled a tax dispute in Italy by paying 270 million euros ($373 million) this week, Italian business daily Il Sole 24 Ore reported on Friday.

The payment is linked to taxes owed by three foreign subsidiaries of the luxury company, which is 100-percent owned by fashion king Armani, it said.

The period covered is between 2002 and 2009, ...

 

(MENAFN - AFP) Italian Prime Minister Matteo Renzi on Friday hailed a "structural revolution" after his cabinet approved a round of tax and spending cuts including a limit of five chauffeured cars per government ministry.

The draft bill would also ease income tax for some 10 million people who earn between 8,000 and 26,000 euros a year, reduce the amount of government ...

 

(MENAFN - AFP) Energy-dependent Turkey will ask for a discount on the price of the gas it buys from Russia, its energy minister said on Friday, with tension over Ukraine a background factor.

"The negotiations and agreements we concluded with Russia give us the right for a price revision in the coming months," Energy Minister Taner Yildiz told reporters in Ankara.

"We ...

 

(MENAFN - AFP) Italy's government on Friday said it had raised 371,400 euros ($513,200) so far in an eBay auction of luxury official cars in a symbolic effort to cut outrageous spending by ministries that has sparked public anger.

The 52 cars sold were being used by the police, the fire brigade and the defence ministry and included five BMWs and two Audis, the government ...

 

(MENAFN - AFP) The chief executive of Anglo-Dutch energy giant Royal Dutch Shell Ben van Beurden met President Vladimir Putin at his private residence on Friday, telling the Russian strongman that the company wanted to expand its operations in Russia.

The meeting between the Shell chief and Putin was the latest signal from the Kremlin that it is keen to keep ties with ...

 

(MENAFN - AFP) Italian bank Monte dei Paschi di Siena gave the go-ahead on Friday to a 5.0 billion euro equity raising that will boost its capital and allow it to repay a government bailout this year.

The bank said in a statement the share sale would give it a strong enough "capital buffer" to withstand EU bank stress tests in the current climate of "high uncertainty and ...

 

(MENAFN - AFP) Designer Jimmy Choo unveiled a one-off range of shoes in Japan on Friday, made using materials and techniques native to the disaster-hit Fukushima area, in a bid to boost the profile of artisans there.

Choo was inspired to come up with the creations after visiting workshops in the area, which is struggling to overcome the tsunami-sparked nuclear catastrophe ...

 

(MENAFN - AFP) Not long ago, self-respecting young German urbanites would have turned on their heels if they spotted a mounted deer head or a set of antlers in a bar.

In the sometimes subtle language of taste and demographics, taxidermy in Germany screamed old fashioned, tacky and even a bit right-wing.

Whereas in Britain, for example, mounted animals might conjure ...

 

(MENAFN - AFP) Asian markets mostly rose while the dollar edged up in holiday-narrowed trade on Friday following a mixed lead from Wall Street and news of a deal between Russia and the West to ease Ukraine tensions.

With many bourses closed for the Easter break, business was thin at the end of a broadly positive week in Asia, which was helped by bargain buying after the ...

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