ECONOMY

  • Sensex gains for seventh straight session; metals, miners surge February 19, 2015

    Mumbai: The BSE Sensex gained for a seventh straight day on Thursday in a volatile session that saw metals and mining companies such as Hindalco Industries (HALC.NS) and Jindal Steel and Power (JNSP.NS) surging after the successful completion of the country's first auction to sell mines. The auction follows a court...
  • Campus calling: What do IIT-Delhi, IIT-Mumbai students expect from Budget 2015? February 18, 2015

    The upcoming Union Budget is very crucial in terms of bringing the Indian economy back on growth track; curb the budget deficit and creating an investment friendly environment. CNN-IBN's Kajori Sen talks to students of IIT-Delhi and IIT-Mumbai about their expectations from Union Budget 2015. ...
  • Budget must create employment, induce demand and investments: PHD Chamber February 18, 2015

    New Delhi: While complimenting the Narendra Modi government for big-bang reform announcements, President of PHD Chamber of Commerce and Industry Alok B Shriram said that the forthcoming Union Budget 2015-16 is being formulated in a benign macro-economic environment at domestic and international level after many years. The economy is looking...
  • Rupee snaps two-session uptrend vs US dollar, down 18 paise February 18, 2015

    Mumbai: The Indian rupee snapped its two-session uptrend against the American currency on Wednesday, falling 18 paise to close at 62.34 on fresh dollar demand from banks and importers. The dollar was trading up in global markets on caution ahead of the US Federal Reserve's January policy meeting minutes release. The rupee...
  • 2015-16 Budget to assume growth of 8-plus per cent: source February 16, 2015

    New Delhi: Revisions to economic output data mean that Finance Minister Arun Jaitley's upcoming Budget should assume that the economy will grow by at least 8 per cent in the 2015-16 fiscal year, a government source said. India has changed the way it measures economic activity to conform with international standards,...
  • Rupee ends higher for the 2nd consecutive day vs US dolla, up 3 paise February 16, 2015

    Mumbai: The rupee on Monday ended higher for the second consecutive day, moving up by another 3 paise to close at 62.16 against the dollar on continued selling of the US currency by banks and exporters. The rupee resumed higher at 62.15 per dollar as...
  • Rupee gains 26 paise against dollar in early trade February 13, 2015

    Mumbai: The rupee strengthened by 26 paise to 62.05 against the dollar in early trade on Friday at the Interbank Foreign Exchange on fresh selling of the US currency by exporters and banks. Forex dealers said besides selling of the American currency by exporters and banks, a higher opening in domestic...
  • Sensex gains 1 per cent; SBI surges on stable asset quality February 13, 2015

    Mumbai: The BSE Sensex and Nifty rose for a fourth consecutive day on Friday, as State Bank of India surged after bad loans rose only slightly in the previous quarter, with sentiment also underpinned by stable consumer inflation data and stronger global markets. The Nifty was up 1.7 per cent for...
  • IMF, World Bank to provide financial assistance to Ukraine February 13, 2015

    Washington: The IMF and the World Bank have agreed to provide massive financial assistance to strife-torn Ukraine US dollar 19.5 billion in all to bail it out of an economic crisis. The International Monetary Fund (IMF) and Ukraine on Thursday agreed on a US dollar 17.5 bailout package with the World...
  • India's Industrial production growth slows to 1.7% in December February 12, 2015

    Industrial production growth rate slowed to 1.7 per cent in December last year on sequential basis mainly due to a contraction in the mining and quarrying sector. The growth in factory output, as measured by the Index of Industrial Production (IIP), in the month under review was, however, higher as compared...
  • No slowdown in reforms despite Delhi election defeat: Finance Minister Arun Jaitley February 12, 2015

    New Delhi: There will be no slowdown in reforms despite Delhi election defeat, said Finance Minister Arun Jaitley on Thursday. Speaking to mediapersons a couple of days after the severe drubbing the BJP got at the hands of the Aam Aadmi Party (AAP) in the Delhi Assembly elections, Jaitley said the...
  • Rupee down 17 paise against dollar in early trade February 12, 2015

    Mumbai: Extending losses for the fourth straight session, the rupee fell by 17 paise to 62.42 against the dollar in early trade on Thursday at the Interbank Foreign Exchange market as the American currency strengthened overseas amid persistent foreign capital outflows. Forex dealers said besides the dollar's gain against other currencies...
  • Sensex ends 271 points up; capital goods stocks gain February 12, 2015

    Mumbai: Ahead of the release of crucial inflation data, a benchmark index of Indian equities markets provisionally closed on Thursday's trade up 271 points or 0.95 per cent. The government will release consumer price index (CPI) data around 5.00 p.m on Thursday. The data assumes significance as it gives a directional...
  • Sensex surges 178 points, Nifty regains 8600-mark on reform hopes February 11, 2015

    Mumbai: Stock markets on Wednesday rose for the second straight day with the benchmark Sensex rising 178.35 points to end at 28,533.97 and the Nifty index reclaiming the 8,600-mark powered by a rebound in bluechips amid hopes of faster reforms and optimism over the upcoming Budget. After surging to 28,618.91 points...
  • Rupee down for the 3rd day vs dollar, ends at fresh 1-month low February 11, 2015

    Mumbai: The Indian rupee fell for the third consecutive session on Wednesday against the American currency, slipping by six paise to close at fresh one-month low of 62.25 on persistent dollar demand from banks and importers. Talk of persistent foreign capital outflows also affected the market sentiment, said brokers, adding...
  • Rupee falls to over one-month low of 62.19 agaist US dollar February 10, 2015

    Mumbai: The Indian rupee on Tuesday washed out its initial gains against the American currency and ended two paise down at over one-month low of 62.19 on late dollar demand from banks and importers. The Indian currency resumed higher at 62.15 as against Monday's close of 62.17 at the Interbank...
  • It's official: India is fastest growing big economy February 9, 2015

    New Delhi: Taken at face value, India on Monday became the fastest growing major economy in the world after its statisticians changed the way they measure Asia's third-largest economy and showed it clocked faster growth than China in the December quarter. It marks a dramatic turnaround for an economy that a...
  • Rupee ends at nearly 4-week low of 62.17 vs dollar February 9, 2015

    Mumbai: Snapping its two-day gains, the rupee on Monday declined by 48 paise to settle at nearly four-week low of 62.17 against the US currency due to capital outflows and fresh dollar demand from banks and importers. Persistent fall in equity markets and a strong dollar...
  • PM Modi to seek experts' views at first NITI meeting on Friday February 5, 2015

    New Delhi: Prime Minister Narendra Modi on Friday will brainstorm with experts in the maiden meeting of NITI Aayog to find ways to boost economy as government prepares to present its first full-fledged Budget later in February. The meeting will be attended by Finance Minister Arun Jaitley and experts such as...
  • Sensex falls for 5th day, ends at two-week low on late selling February 5, 2015

    Mumbai: Falling for the fifth straight day, the benchmark Sensex on Thursday reversed gains in the last ninety minutes and ended 32.14 points lower at 28,850.97, its weakest level in over two weeks, on sharp selling in power, realty and consumer durable shares amid weak global cues. After opening in the...
  • Sensex down 117 points; tanks nearly 800 points in 4 days February 4, 2015

    Mumbai: Extending losses for the fourth straight day, benchmark BSE Sensex on Wednesday dropped 117 points to close below 29,000-level at 28,883.11 due to profit-booking, particularly in capital goods and banking shares. In highly volatile trade in the absence of any major cues, metal, realty and healthcare stocks, however, recorded...
  • Rupee snaps 2-day gains against US dollar, down 8 paise February 4, 2015

    Mumbai: Snapping its two-day gaining streak, the rupee closed down by 8 paise at 61.75 per dollar on fresh demand for the US currency from banks amid fall in stock markets. A strong dollar in overseas markets also affected the rupee value against the dollar, a forex dealer said. The rupee...
  • Rupee down 9 paise against dollar in early trade February 2, 2015

    Mumbai: The rupee weakened by nine paise to 61.95 against the dollar in early trade on Monday at the Interbank Foreign Exchange due to high demand for the US currency from importers. Dealers attributed the domestic currency's fall to increased demand for the American currency from importers and a lower opening...
  • Sensex at over one-week lows, Nifty below 8,800 ahead of RBI policy February 2, 2015

    Mumbai: Domestic markets on Monday hit over one-week lows with benchmark Sensex falling nearly 61 points to 29,122.27 and Nifty slipping 11.50 points to 8,797.40 on caution ahead of the RBI policy review on Tuesday. Profit-booking in recent outperformers, disappointing earnings from some bluechip companies and mixed global cues also weighed...
  • Obama targets foreign profits with tax proposal, Republicans skeptical February 2, 2015

    Washington: President Barack Obama's fiscal 2016 budget will seek new taxes on trillions of dollars in profits accumulated overseas by US companies, and a new approach to taxing foreign profits in the future, but Republicans were skeptical of the plan on Sunday. Reviving a long-running debate about corporate tax avoidance, Obama...
  • India Inc says no change in economy performance in last 6 months February 1, 2015

    New Delhi: Painting a dismal picture of the economy during the last six months of 2014, India Inc on Sunday said not much had changed on the ground at the industry level during the period falling within the Narendra Modi-led government's tenure. The industry chamber's respondents were, however, optimistic that things...
  • Suresh Prabhu pitches for greater investments in Railways January 31, 2015

    Ahmedabad: Railway Minister Suresh Prabhu on Saturday pitched for greater investments in railways and said development in the sector will help the country grow. The minister was here to flag off two new trains - Ahmedabad-Chennai bi-weekly express and Ahmedabad-Darbhanga Jansadharan express. He also launched Wi-fi facility at the city...
  • Eliminating terror crucial for Pakistan's economic survival, says PM Sharif January 31, 2015

    Lahore: Prime Minister Nawaz Sharif on Saturday said Pakistan will win the war against terror at any cost, linking it to the country's "economic survival", and vowed to overcome the energy crisis. "All institutions of the country are united against war on terror. We will win this war at any...
  • Economic growth revised up by almost 50 per cent January 31, 2015

    New Delhi: India's economy grew almost 50 per cent faster in 2013/14 than earlier thought, the government said on Friday after changing a formula, a reminder of the challenges that unreliable statistics present to Indian policymakers. In the year leading up to the elections that brought Prime Minister Narendra Modi to...
  • Rupee recovers 12 paise against dollar in early trade January 30, 2015

    Mumbai: The rupee recovered by 12 paise to 61.74 against the US dollar in early trade on Friday at the Interbank Foreign Exchange on fresh selling of the American currency by exporters. Forex dealers said the dollar's weakness against other currencies overseas and a higher opening in the domestic equity market...