Mumbai: The rupee on Tuesday rose by 13 paise to 54.12 against the dollar in early trade at the Interbank Foreign Exchange on fresh selling of the US currency by exporters, amid sustained foreign capital inflows.
Strengthening of other Asian currencies against the dollar overseas and a higher opening in the domestic equity market also supported the local currency, forex dealers said. The rupee had gained 12 paise to close at 54.25 against the dollar on Monday.
Meanwhile, the BSE benchmark index Sensex rose by 209.09 points, or 1.08 per cent, to 19,596.59 in early trade on Tuesday.
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09:56 AM, Apr 30, 2013
Mumbai: The rupee on Wednesday gained 24 paise to trade at fresh one-month high of 53.90 in early trade at the Interbank Foreign Exchange market on dollar selling by exporters and increased capital inflows. Forex dealers said strengthening of euro, which reached its best level since February, against the dollar overseas and higher opening in the domestic equity market, also supported the rupee. The local currency had gained 48 paise...
10:19 AM, Apr 17, 2013
A small island on the edge of Europe teetering under the weight of its bust banks. Sound familiar? Like Iceland and Ireland before it, Cyprus is battling to prevent an outsized and overextended banking sector from dragging the country into the ground. ...
06:55 AM, Mar 20, 2013
Cyprus's Parliament was set to reject a divisive tax on bank deposits in a vote on Tuesday, pushing the island closer to a debt default and banking collapse. ...
03:15 PM, Mar 19, 2013
Tunisian Prime Minister Hamadi Jebali resigned on Tuesday after failing to replace a government pulled apart by acrimony between his Islamist allies and their secular opponents. Jebali had threatened to quit if his plan for a non-partisan cabinet of technocrats to lead the north African country into early elections foundered. ...
11:54 AM, Feb 20, 2013
The euro dropped to a three-week low against the dollar and fell sharply versus the yen on Thursday after data painted a bleak picture of the euro zone economy, raising speculation the European Central Bank will cut interest rates. ...
08:31 AM, Feb 15, 2013
The rupee strengthened by 4 paise to Rs 53.12 a dollar in early trade on the Interbank Foreign Exchange on fresh selling of the American currency by exporters and banks. ...
09:53 AM, Feb 07, 2013
New Delhi: The HT Leadership summit will kick off this weekend in New Delhi with a galaxy of leaders from the world and India. Building up to the Hindustan Times leadership summit, CNN-IBN, with Hindustan Times, brings you the CNN-IBN-Hindustan Times Opinion Poll on the leadership challenges in a situation of economic decline. The CNN-IBN Hindustan Times survey shows widespread pessimism about the Indian economy. As the economy slows down,...
09:03 AM, Nov 15, 2012
CNN-IBN and Hindustan Times survey shows widespread pessimism about the Indian economy. Almost 60 per cent urban Indians say they do not feel that their jobs and incomes are secure anymore. ...
11:58 PM, Nov 14, 2012
Washington: US President Barack Obama has invited at least three Indian-Americans, including PepsiCo CEO Indra Nooyi, as part of his wider consultations with leaders from business, labour, civic community and Congress on the current economic crisis. Neera Tandon, president of the Centre for American Progress, an eminent US think-tank based in Washington and Deepak Bhargava from the Centre for Community Change are the other Indian-Americans to have been invited by...
11:20 PM, Nov 13, 2012
Washington: The US aid to India has dropped by over 25 per cent since 2010, as the country goes through a grave economic crisis but the Obama Administration has adopted a new model of assistance to focus on poverty alleviation and addressing security challenges like terrorism. From a total assistance of $126.7 million in 2010, the proposed US aid to India for the year 2013 has dropped to $98.3 million....
04:56 AM, Nov 11, 2012
Singapore: Gold hit an 11-month high on Friday in its fifth day of gains as stimulus measures from major central banks continued to increase its appeal as an inflation hedge, while investors awaited more trading direction from key US jobs data due later in the day. The European Central Bank kept interest rates unchanged on Thursday and said it was ready to buy government bonds of debt-laden nations, triggering a...
10:46 AM, Oct 05, 2012
Kolkata: Asserting that one should not feel "despondent" and "disappointed" at the current difficulties before the Indian economy, President Pranab Mukherjee on Saturday called for collective efforts to overcome the problems and convert them into advantages. "It is true we are passing through difficult times. But I do not feel we should feel despondent and disappointed. Rather we should try to overcome the difficulties by our collective efforts," Mukherjee said...
11:51 PM, Sep 15, 2012
New Delhi: Indian economy is expected to grow at 5.5 per cent this year as "turbulent" global conditions, domestic policy "mis-steps" and poor monsoon are weighing on investor confidence and demand, Moody's Analytics has said. India's GDP growth rate is likely to be 5.5 per cent this year, while in 2013 growth is expected to be 6 per cent, adjusted from 6.2 per cent earlier, it said. "There has been...
02:18 PM, Aug 09, 2012
New Delhi: Enthused by Finance Minister P Chidambaram's assurance of fine-tuning policies, industry body FICCI on Tuesday said this would help revive economic growth. "It is quite obvious that he means business and has immediately put himself in the task of re-igniting the growth triggers of the economy," said R.V. Kanoria, president, Federation of Indian Chambers of Commerce and Industry (FICCI). "There is a sense of urgency that we could...
02:17 AM, Aug 08, 2012
Mumbai: A summer drought makes a bad situation worse for an Indian economy already crippled by a sharp slowdown in growth, persistent inflation and a politically hamstrung government. Late on Thursday, New Delhi confirmed the first drought in three years as monsoon rains are likely to be less than 90 per cent of the long-term average, dealing a blow to Asia's third-largest economy, where more than half the farmland lacks...
01:10 AM, Aug 04, 2012
Mumbai: The rupee was higher in opening trades on Tuesday as gains in Asian shares and a stable euro boosted the local unit. At 9.02 am, the partially convertible unit was at 55.46/48 to a dollar as against 55.5850/5950 last close. Traders said the rupee will take further cues from the RBI's rate decision, due at 0530 GMT. ...
10:26 AM, Jul 31, 2012
Athens: Greece is in a "Great Depression" similar to the American one in the 1930s, the country's Prime Minister Antonis Samaras told former US President Bill Clinton on Sunday. Samaras was speaking two days before a team of Greece's international lenders arrive in Athens to push for further cuts needed for the debt-laden country to qualify for further rescue payments and avoid a chaotic default. Athens wants to soften the...
12:55 AM, Jul 23, 2012
Washington: Federal Reserve Chairman Ben Bernanke on Tuesday offered a gloomy view of the economy's prospects, but provided few concrete clues on whether the US central bank was moving closer to a fresh round of monetary stimulus. Bernanke told the Senate Banking Committee the economic recovery was being held back by anxiety over Europe's debt crisis and the path of US fiscal policy, and he expressed unease over a stagnant...
07:27 AM, Jul 18, 2012
Moody's on Friday surprised markets by downgrading Italy's government bond rating by two notches to Baa2 and warned it could cut it further, piling on pressure just hours before the country launches its latest bond sale. The move left Italy's rating just two notches above junk status and could raise already-painful borrowing costs. The stark warning from Moody's, which highlighted Italy's vulnerability to political shocks in the euro zone and...
08:14 AM, Jul 13, 2012
