ECONOMY

  • 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...
  • Sensex drops 499 points, Nifty snaps 10-day rally on profit-taking January 30, 2015

    Mumbai: The benchmark Sensex on Friday hit new high of 29,844.16 but succumbed to heavy profit-booking led by banking shares to fall by 498.82 points to 29,182.95, logging its worst drop in three weeks, even as the government's mega share sale in Coal India sailed through. The NSE Nifty, which hit...
  • GDP base year revision may help government contain fiscal deficit January 29, 2015

    New Delhi: A new series of national accounts with 2011-12 as base year for computing economic growth rate will be released on Friday, which may provide some cushion to government struggling to meet fiscal deficit target. With the revision of base year, the size of economy is expected to bigger...
  • Rupee ends unchanged against US dollar at 61.41 January 28, 2015

    Mumbai: The Indian rupee on Wednesday ended unchanged against the US dollar at 61.41 ahead of the outcome of US Federal Reserve's policy meeting. The rupee resumed lower at 61.50 per dollar as against the last closing level of 61.41 per dollar at the Interbank Foreign Exchange (Forex) Market. It moved...
  • Rupee gains 35 paise against dollar in early trade January 23, 2015

    Mumbai: The rupee strengthened by 35 paise to 61.35 against the dollar in early trade at the Interbank Foreign Exchange on strong selling of the US currency by exporters amid sustained capital inflows. Forex dealers said besides selling of the American currency by exporters, continued overseas capital inflows and soaring domestic...
  • Chinese daily scoff at reports of India's GDP overtaking China January 21, 2015

    Beijing: Peeved over IMF's forecast that India's growth rate would surpass that of China by 2016, a state-run daily on Wednesday said that having overshadowed by the Communist giant for long, India is seeking evidence to show that "it is not inferior to China". "It's different in India. Long overshadowed...
  • Rupee gains 9 paise against dollar in early trade January 21, 2015

    Mumbai: The rupee strengthened by 9 paise to 61.60 against the US dollar in early trade, extending its rising streak for the fifth straight day at the Interbank Foreign Exchange on selling of the US currency by exporters and banks. The rupee settled two paise higher at 61.69 against the...
  • Sensex, Nifty at historic high levels; HUL steals the show January 21, 2015

    Mumbai: Rising for the fifth day in a row, benchmark BSE Sensex on Wednesday set a life-time high of 28,958 points and NSE Nifty recorded a historic 8,741 points as overall macro outlook and optimism over forthcoming budget continue to buoy investor sentiment. After resuming the day higher...
  • Europe deflation biggest risk to global economy in 2015: Nobel Laureate for Economics January 21, 2015

    Nobel Laureate for Economics Edmund Phelps speaks out on Global Financial Crisis saying that Europe's deflation is the biggest risk to the global economy in 2015. ...
  • Sensex hits life high, ends at 28788.28, Nifty at 8698.00 January 20, 2015

    Mumbai: Equity benchmarks surged to record highs on Tuesday among growing perception that India is the best placed among emerging markets because of its improving macro economic fundamentals. The 30-share Sensex hit a new peak of 28829.29, before closing at 28784.67, up 522.66 points or 1.85 per cent over its...
  • There was no focus on manufacturing in last 5 years, says Arun Jaitley January 18, 2015

    Finance Minister Arun Jaitley on Saturday addressed 'Act for Growth Meet'. ...
  • India will become a country of opportunities, says PM Modi January 16, 2015

    New Delhi: India will become a country of opportunities and the government is committed to achieving the fiscal deficit target, said Prime Minister Narendra Modi on Friday. Speaking at the ET Global Business Summit in New Delhi, Modi said the New Age India has also begun its transition from a winter...
  • RBI rate cut decision 'turning point', will boost growth: Arun Jaitley January 16, 2015

    New Delhi: Finance Minister Arun Jaitley on Friday described the decision of RBI to cut key policy rate by 0.25 per cent as an "important turning point" and hoped it would engender faster growth. "After two years that interest rates are going to move downwards and...
  • Why 2015 will be defining year for India January 16, 2015

    New Delhi: If there were an annual prize for the "World's Most Hopeful Economy," it would likely go to India. After years of disappointing returns, the world's largest democracy rediscovered vigor in 2014. Stocks rose by a third; foreign investment grew by a quarter; the economy at one stage expanded...
  • Rupee rises to over 1-month high, up 19 paise Vs US dollar at 61.87 January 16, 2015

    Mumbai: The Indian rupee on Friday appreciated for the second straight session and rose 19 paise to log its over one-month closing high of 61.87 against the Greenback following sustained dollar selling by exporters and capital inflows in local shares. However, a strong dollar overseas after Switzerland's unexpected move to lift...
  • Rupee off 2-month high, ends 12 paise up Vs dollar as RBI cuts rate January 15, 2015

    Mumbai: The rupee touched two-month high of 61.47 against the US dollar in day trade before closing up by 12 paise at 62.06 today amid a rally in stock markets as RBI cut policy rate by 0.25 percentage points. The rupee gained 71 paise to touch...
  • Nifty ends at 8494, Sensex soars 729 points January 15, 2015

    Mumbai: The market has ended with some very strong gains. The Sensex was up 728.73 points or 2.7 per cent at 28075.55, and the Nifty ended up 216.60 points or 2.6 per cent at 8494.15. About 1693 shares advanced, 1206 shares declined and 322 shares were unchanged. Banks led...
  • Rupee snaps five-day uptrend vs US dollar January 14, 2015

    Mumbai: The Indian rupee on Wednesday snapped its five-day uptrend against the greenback, ending four paise lower at 62.18 on fresh dollar demand from banks and importers in view of fall in crude oil prices. The rupee resumed higher at 62.08 per dollar as against the last closing level of 62.14...
  • Rupee gains 12 paise against dollar in early trade on Tuesday January 13, 2015

    Mumbai: Continuing its rising streak for the fifth straight session, the rupee gained another 12 paise at 62.04 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid higher opening of domestic equities. Besides, encouraging...
  • Industrial output recovers in November, up 3.8 per cent January 12, 2015

    New Delhi: Industrial output recovered at a much faster-than-expected pace in November, posting an annual growth of 3.8 per cent year-on-year, helped by a rebound in capital goods sector, government data showed on Monday. Analysts were expecting output growth to come in at 2.2 per cent compared with a 4.2 per...
  • World Bank projects 6.4 per cent economic growth in India in 2015 January 11, 2015

    Gandhinagar: Indian economy is likely to grow at 6.4 per cent in 2015 and accelerate further in the next year on the back of steps being taken by the Narendra Modi-led NDA government, World Bank President Jim Yong Kim said on Sunday. Speaking at the...
  • PM Modi woos investors at Vibrant Gujarat summit, says India offers demand, democracy, demography January 11, 2015

    Gandhinagar: Prime Minister Narendra Modi on Sunday wooed investors from across the world by presenting his government as business-friendly and portraying India as the idle place for an investment. He said, "India offers you 3Ds - democracy, demography and demand and it will not be found anywhere else in the...
  • Perks in India Inc get fancy; top talent gets iPhones, Mercedes cars January 11, 2015

    New Delhi: When it comes to rewarding top performing employees, many large corporates are giving out expensive gifts such as latest iPhones, Mercs, flats and jewellery a trend started by a little-known diamond firm in Gujarat a few months back. Last Diwali, Surat-based Hari Krishna Exports created a flutter by announcing...