ECONOMY

  • Visit to France, Germany, Canada aimed at boosting economy: PM Modi March 28, 2015

    New Delhi: Prime Minister Narendra Modi on Saturday said his upcoming visit to France, Germany and Canada was aimed at boosting India's economy and creating jobs. "My France, Germany & Canada visit is centred around supporting India's economic agenda & creating jobs for our youth," he tweeted ahead of his three-nation...
  • Rupee rebounds 26 paise against dollar; snaps 2-day losses March 27, 2015

    Mumbai: Snapping its two-day losing streak, the rupee today recovered 26 paise to end at 62.41 against the American currency on fresh selling of dollars by banks and exporters amid weakness in the greenback overseas. The rupee resumed lower at 62.80 as against the yesterday's closing level of 62.67 on...
  • Rupee falls 31 paise against dollar in early trade March 26, 2015

    Mumbai: The rupee weakened by 31 paise to 62.64 against the US dollar in early trade on Thursday at the Interbank Foreign Exchange on month-end demand for the American currency from banks and importers. Forex dealers attributed the fall in the rupee to increased demand for the dollar from importers and...
  • Sensex closes 654 points down on Thursday, bank stocks plunge March 26, 2015

    Mumbai: Negative global cues and future and options (F&O) expiry led a benchmark index of Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), to close on Thursday's trade down 654 points or 2.33 per cent. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed trade in the...
  • India will grow at 7.8% in 2015-16; surpass China: ADB March 24, 2015

    New Delhi: India is all set to overtake China's growth rate by clocking 7.8 per cent GDP in 2015-16 and 8.2 per cent during the following fiscal on the back of structural reforms and government's "pro-investment" attitude, Asian Development Bank said on Tuesday. "India is expected to grow faster than China...
  • Sensex ends marginally lower, Nifty holds 8550 March 23, 2015

    Mumbai: The market closed marginally lower on Monday. The Sensex shed 69.06 points to 28192.02 and the Nifty lost 20 points to 8550.90. More than two shares declined for every share advancing on the Bombay Stock Exchange. State-run power equipment maker BHEL fell nearly 4 per cent. ICICI Bank, Infosys, Reliance...
  • RBI chief Raghuram Rajan backs removal of central bank's debt powers March 22, 2015

    New Delhi: Reserve Bank of India (RBI) governor, Raghuram Rajan, on Sunday cautiously backed a government plan to hand public debt management to a new agency, as the two sides played down reports of friction over the biggest regulatory shakeup in a generation. In February, the RBI formally adopted inflation targeting...
  • India's economy likely to grow 8 pc in next fiscal: Report March 22, 2015

    Mumbai: The country's economy is likely to clock 8 per cent growth in the next financial year and 8.3 per cent in 2016-17, says a report. "India is the only BRIC country, where growth will accelerate, to 8 per cent in FY16 and 8.3 per cent in FY17, based on...
  • India's GDP to grow at 8.3 pc in FY'17: HSBC March 22, 2015

    New Delhi: Stars are "gradually aligning" for the Indian economy and it is expected to clock a growth rate of 7.4 per cent in the current financial year, which is likely to improve further to 8.3 per cent by 2016-17, says an HSBC report. According to the global financial services...
  • India's property hangover: Discounts, gold to cure multi-billion dollar backlog March 19, 2015

    Mumbai: India's debt-laden property developers are turning to deep discounts, free parking spots and even gimmicks like gifts of gold coins and motorbikes as they struggle to sell billions of dollars worth of as-yet unfinished homes. Now outstripping China as the world's fastest-growing major economy according to official data, India has...
  • Rupee ends almost flat vs dollar ahead of Fed policy outcome March 18, 2015

    Mumbai: The Indian rupee on Wednesday ended almost flat against the dollar at 62.69 ahead of the US Federal Reserve's monetary policy statement that could shed light on the timing of interest rate hikes. The rupee resumed slightly higher at 62.68 per dollar as against the last closing level of 62.70...
  • Rupee strengthens by 11 paise against US dollar ahead of US Fed meet March 17, 2015

    Mumbai: The Indian rupee on Monday extended gains for the second consecutive session, rising 11 paise against the American currency to 62.70 amid a good show by stocks and on selling of dollars by banks and exporters ahead of the two-day US Fed monetary policy meet. At the Interbank Foreign...
  • India better prepared for external financial shocks: IMF March 16, 2015

    New Delhi: India is better positioned to cope with external financial shocks than most emerging market economies, International Monetary Fund head Christine Lagarde was quoted saying on Monday, just ahead of a of a crunch meeting of the US Federal Reserve. The Fed is expected to signal an increase in its...
  • Rupee rises by 16 paise to end at 62.81 against US dollar March 16, 2015

    Mumbai: Bucking a fall in stocks, the Indian rupee on Monday gained 16 paise to end at 62.81 against the American currency on fresh selling of dollars by banks and exporters. While the US dollar hit 12-year high against the Euro earlier in the day ahead of Fed policy meet,...
  • Sensex at one-month low, down 65 points on profit-booking March 16, 2015

    Mumbai: In a volatile trade, the benchmark Sensex on Monday fell over 65 points to hit an over one-month low of 28,437.71 on profit-booking in metal, FMCG, oil & gas and power stocks ahead of the US Federal Reserve's policy meet. The 30-share Sensex after hitting a session high of...
  • Tamil Nadu number one state on development parameters: Assocham March 15, 2015

    New Delhi: Tamil Nadu has been ranked as the best performing state on eight out of nine development parameters like economy, power, roads and health while Kerala secured the second slot, according to an Assocham study. Except for education, Tamil Nadu remained the best performing state in all other parameters. Kerala...
  • Government to ease process of doing business in India: Arun Jaitley March 14, 2015

    London: Government is fairly determined and is introducing changes to ease the process of doing business and attract investments in India while trying to rationalise and lower taxes, Finance Minister Arun Jaitley has said. He also said that the GDP growth rate this year would be 7.5 per cent and hopefully...
  • Sensex nosedives 427 points as inflation rise hits rate cut hopes March 13, 2015

    Mumbai: Indian benchmark indices hit their lowest levels in a month on Friday with the Sensex tanking 427 points to 28,503.30 and the Nifty plunging 128 points to 8,647.75 due to intense selling pressure after rise in retail inflation dashed hopes of aggressive interest rate cuts. The selling was indiscriminate...
  • Rupee breaches 63-mark against, ends 47 paise down at 62.97 on weak stocks March 13, 2015

    Mumbai: The Indian rupee on Friday breached the the 63-mark intra day against the Greenback and ended with a sharp loss of 47 paise at 62.97 on sustained dollar demand from importers amid weakness in local shares. It crossed the 63-level after two months as it hit a low of...
  • Rupee rebounds 28 paise against US dollar to end at 62.50 on recovery in stocks March 12, 2015

    Mumbai: In step with smart recovery in local equities, the Indian rupee on Thursday rebounded by 28 paise to close at 62.50 against the American currency on fresh dollar selling by exporters. A weak dollar overseas also helped the rupee recover from two-month lows, said forex dealers, adding that IMF...
  • Sensex firm, Nifty opens above 8750 March 12, 2015

    Mumbai: The market has opened firm with the Sensex gaining 151 points at 28803.50. The Nifty is at 8752, up 50.75 points. About 702 shares have advanced, 136 shares declined, and 93 shares are unchanged. SBI, ICICI Bank, BHEL, Sesa Sterlite and HDFC are top gainers in the Sensex. Among...
  • IMF approves US dollar 17.5 billion aid for Ukraine March 12, 2015

    Washington: The International Monetary Fund approved a US dollar 17.5 billion aid plan for crisis-wracked Ukraine, whose economy is reeling from a pro-Russia insurgency in its industrial heartland. The new loan, with US dollar 5 billion to be disbursed immediately, replaces an IMF programme less than one year old that proved...
  • Rupee hits fresh two-month low of 62.78 March 11, 2015

    Mumbai: In line with local equities, the rupee on Wednesday dipped for the third straight session and eased by two paise to close at fresh two-month low of 62.78 against greenback on sustained demand for US dollar from importers. Continued slide in local equities amid fresh withdrawal of funds by...
  • India must focus on political influence in its neighbourhood: Elizabeth Economy March 10, 2015

    As Prime Minister Modi undertakes a three-nation visit to Indian Ocean countries, an American expert warns India not to look at competition with China as a zero sum game. "India must focus on political influence in its neighbourhood," said Elizabeth Economy, the CV Starr fellow at the Council on foreign...
  • Rupee hits two-month low, down 21 paise against US dollar at 62.76 March 10, 2015

    Mumbai: Tracking weak stocks, the rupee on Tuesday fell 21 paise to end at two-month low of 62.76 against the greenback on sustained dollar demand from importers amid US rate hike concerns. A smart rise in dollar index against its major rivals also put pressure on the rupee. There was...
  • Sensex down 109 points or 0.38 per cent on Tuesday's trade March 10, 2015

    Mumbai A day after it fell more than 600 points, a benchmark index of Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), provisionally closed on Tuesday's trade down 109 points or 0.38 per cent. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed the day's trade provisionally...
  • Rupee hits 2-month low, tanks 39 paise against dollar on US rate hike fears March 9, 2015

    Mumbai: The Indian rupee on Monday fell to two-month low and closed with a sharp 39 paise loss at 62.55 against the US dollar after better-than-expected jobs data spurred expectations of an early hike in US interest rates. Fresh dollar demand from importers amid strong cues in overseas markets and...
  • Sensex, Nifty log biggest drop in 3 months on US rate hike fears March 9, 2015

    Mumbai: Indian markets on Monday logged their biggest drop in 3 months with benchmark Sensex tanking 604 points to end below 29,000 mark and the Nifty index slipped 181 points to fall below 8,800 level on fears that an earlier-than-expected rate hike by US will hit fund inflows. It was a...
  • Rupee rebounds from one-week low, up 9 paise at 62.16 against US dollar March 5, 2015

    Mumbai: Rebounding from one-week low, the Indian rupee on Thursday rose by 9 paise to finish at 62.16 against the dollar, snapping its four-day falling trend, on the back of dollar selling by banks and exporters amid rise in stocks. Moreover, dealers avoided taking any long dollar positions ahead of...
  • Sensex rebounds 68 points as pharma, FMCG, banking shares rise March 5, 2015

    Mumbai: After taking a day's breather, markets on Thursday continued their upward journey with the benchmark Sensex rebounding over 68 points while the Nifty edged up 15 points on buying in pharma, FMCG, banking and auto shares amid sustained foreign fund inflows. In volatile movements, the 30-share BSE index opened firm...