ECONOMY

  • Rupee rises most in 7 weeks, ends at 59.69 vs US dollar on budget hopes July 2, 2014

    Mumbai: Indian rupee on Wednesday appreciated 38 paise its biggest singleday rise in seven weeks to close at 59.69 against the US dollar on optimism that the budget next week would contain strong measures to put finances and the economy back on track. Dollar selling by exporters amid lack...
  • Sensex ends 103 points higher on pickup in manufacturing growth, auto sales July 1, 2014

    Mumbai: The benchmark Sensex on Tuesday rose for the third straight session and closed 103 points up at a twoweek high on good buying in bluechips after an uptick in manufacturing sector growth and signs of pickup in auto sales. Maruti Suzuki, Tata Motors and Hindalco shares led the rally on...
  • Rupee gains most in over 10 days, ends at 60.07 vs US dollar July 1, 2014

    Mumbai: In line with rise in stocks, the rupee on Tuesday rose by 10 paise its biggest singleday rise in over ten days to end at 60.07 against the dollar after the government hiked fuel and LPG prices to ease subsidy burden. Fresh dollar selling by exporters...
  • PM Narendra Modi eyes first labour overhaul in decades to create jobs June 30, 2014

    Prime Minister Narendra Modi has set in motion the first major revamp in decades of India's archaic labour laws, part of a plan to revive the flagging economy, boost manufacturing and create millions of jobs. Successive governments have agreed labour reform is critical to absorb 200 million Indians reaching working age...
  • New sanctions on Russia could impact growth: Economy minister June 28, 2014

    Moscow: A new round of Western sanctions on Russia over the crisis in Ukraine could seriously impact its already stalled economy, Economy Minister Alexei Ulyukayev said on Saturday. The minister said Russia has prepared for three possible scenarios in the event of tougher economic sanctions. The less severe one presumes...
  • High inflation is the enemy of modern economy June 27, 2014

    From 1921 to 1946 hyperinflation occurred in Hungary, Germany, Russia and elsewhere in Europe. It played havoc with these economies and gave rise to political tensions. In Germany Nazism took control of government resulting in World War II. Persistent high inflation is a key macroeconomic challenge facing India. Recent slowdown of...
  • Rupee opens higher at 60.08 per dollar June 27, 2014

    Mumbai: The rupee on Friday opened with marginal gains of 6 paise at 60.08 per dollar on Friday as against previous day's closing value of 60.14 a dollar. Pramit Brahmbhatt of Veracity said, "Taking cues from US economic data and growing tensions in Iraq, domestic markets are expected to trade...
  • Rupee falls back by 2 paise against US dollar to end at 60.14 in dull trade June 26, 2014

    Mumbai: The rupee on Thursday fell back two paise to end at 60.14 against the dollar on weak local equities and demand for the US currency from importers, snapping two straight days of marginal gains. A better dollar overseas also weighed on the rupee while capital inflows capped the rupee fall,...
  • US economy contracts sharply, consumer spending revised down June 25, 2014

    Washington: The US economy contracted at a much steeper pace than previously estimated in the first quarter to record its worst performance in five years, but there are indications that growth has since rebounded strongly. The Commerce Department said on Wednesday gross domestic product fell at a 2.9 per cent annual...
  • Rupee recovers from oneweek lows to end at 60.12 against US dollar June 25, 2014

    Mumbai: The rupee on Wednesday reversed early losses and ended one paisa higher at 60.12 against the US dollar as sales of the American currency by exporters, including IT firms, helped the local unit bounce back from oneweek lows. At the Interbank Foreign Exchange (Forex) market, the local currency resumed lower...
  • Rupee eases two paise against US dollar to end at 60.20 June 23, 2014

    Mumbai: In dull trade, the rupee on Monday ended a mere two paise lower at 60.20 against the US dollar on weak local equities and importeddriven demand for the American currency, extending losses for the second straight session. At the Interbank Foreign Exchange (Forex) market, the domestic unit commenced better...
  • Rupee down 18 paise vs dollar in early trade June 20, 2014

    Mumbai: The rupee on Friday lost 18 paise to 60.26 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US currency from importers. Forex dealers attributed the rupee's fall to increased dollar demand from importers amidst rising global crude prices but said...
  • India Inc sees GDP growth of 56 pc in FY15: Survey June 19, 2014

    Mumbai: As many as 81 per cent of Indian corporates believe the country's economy is likely to grow 56 per cent in the current financial year, says a survey. "India Inc expects the economy to grow between 56 per cent and rupee around 77 per cent to appreciate against the...
  • Rupee gains most in over a month on Fed's dovish policy outlook June 19, 2014

    Mumbai: Bucking the weak trend in stocks, the rupee on Thursday rose 31 paise, logging its best singleday gain in over a month, to end at 60.08 against the dollar as the American currency weakened on US Fed keeping its policy of ultralow interest rates intact. Fresh selling of dollars by...
  • Rupee rebounds from over 7week lows, ends up 13 paise at 60.03 vs US dollar June 17, 2014

    Mumbai: The rupee on Tuesday appreciated for the first time in three days against the dollar and ended 13 paise up at 60.03 boosted by late surge in local equities and comments by RBI Governor that India is better prepared to deal with any fallout from the ongoing Iraq crisis. Fresh...
  • Expect agricultural reforms from the Modi government, says Arun Shourie June 17, 2014

    New Delhi: Senior Bharatiya Janata Party leader Arun Shourie has said that one can expect major agriculture reforms from the Narendra Modi government. In an exclusive interview to CNBCTV18, Shourie talked about what he expects from Modi's government in the field of economy. He said that Modi government has to put...
  • Modi follows neoliberal policies, don't expect economic changes: CPI June 15, 2014

    New Delhi: Senior CPI leader D Raja on Sunday said that he does not foresee any big change in the economy as the Narendra Modi government also follows the neoliberal policies that the previous government followed. The remarks came in the backdrop of Prime Minister Narendra Modi saying that the...
  • PM Modi warns of tough decisions ahead to improve country's economy June 14, 2014

    Dambolim: With just a few days left for the commencement of Budget Session of Parliament, Prime Minister Narendra Modi on Saturday said that his Cabinet would take really tough measures to improve the economy of the country which is in shambles currently owing to the steps taken by the previous...
  • Rupee logs worst drop in over 4 months, down 52 paise against US dollar to end at 59.77 June 13, 2014

    Mumbai: Logging its biggest drop in over four months, the rupee on Friday depreciated 52 paise to end at 59.77 against US dollar on rising risk aversion after global oil prices surged on supply concerns over the unrest in Iraq. The local currency also posted its third successive weekly...
  • Rupee ekes out marginal rise against US dollar ahead of IIP, inflation data June 12, 2014

    Mumbai: Continuing its rangebound movement for the fourth session, the rupee on Thursday closed up by two paise at 59.25 ahead of industrial output and retail inflation data. A smart recovery in local stocks amid stray dollar selling by exporters helped the rupee close in the positive terrain, a forex...
  • Sensex loses 110 points, Nifty ends below 7650; Infosys up 3 pc June 11, 2014

    Mumbai: The market snapped fourday winning streak amid volatility on Wednesday on account of profittaking. The broader indices underperformed benchmarks with the BSE Midcap and Smallcap indices falling 1 percent and 0.67 percent, respectively. The Sensex slipped 109.80 points to close at 25473.89 while the Nifty held 7600 level amid...
  • Rupee inches up 2 paise against US dollar to end at 59.27, snaps 2day fall June 11, 2014

    Mumbai: The rupee on Wednesday snapped its two days of losses and edged up two paise to end at 59.27 against the dollar following late selling of the US currency by exporters. Persistent capital inflows and some weakness in dollar overseas also helped the rupee recover even as government...
  • We don't treat alliance partners as a burden: Arun Jaitley June 10, 2014

    Finance Minister Arun Jaitley said the Bharatiya Janata Party will continue with its alliance partner even if they got absolute majority. He said, "We are in an era of coalitions. My party believes that despite the absolute majority, we are in an era of alliances because it represents the federal...
  • FM Arun Jaitley slams UPA government over economic situation June 10, 2014

    New Delhi: Government on Tuesday slammed the previous UPA regime saying it has left the country in a shambles with low growth and "elevated" poverty and vowed to resurrect the economy with a strong Prime Minister Narendra Modi at the helm. Finance Minister Arun Jaitley also sought to allay apprehensions on...
  • India poised to return to high growth path: OECD June 10, 2014

    New Delhi: India is poised to return to a high growth path while its BRIC peers Brazil, China and Russia are expected to record belowtrend growth rates, an OECD report said on Tuesday. "CLIs (composite leading indicators) point to growth below trend in Brazil, China and Russia. Nevertheless, the CLI...
  • India Inc has strongest hiring plans for next three months June 10, 2014

    New Delhi: Bolstered by improving business sentiments, Indian employers have the strongest hiring plans worldwide for the next three months as they are expected to embark on "vigorous" recruitment activities, says a report. The Manpower Employment Outlook Survey released today also said that hiring activities are picking up in...
  • Sensex ends flat after hitting new lifetime high June 10, 2014

    Mumbai: The benchmark Sensex on Tuesday hit a new lifetime high but pared gains on profitbooking to end with a slim 3.48point rise at a fresh closing peak of 25,583.69. Stock markets had opened on a strong note with the 30scrip BSE Sensex touching a new high of 25,711.11 points...
  • Rupee falls for 2nd day, down 9 paise against US dollar to end at 59.29 June 10, 2014

    Mumbai: The rupee on Tuesday fell for the second day and closed nine paise down at 59.29 against the dollar on sustained demand for the US currency from importers. Hesitancy in local equities also weighed on the rupee even as sustained FII inflows worth Rs 680 crore continued to give...
  • Cyber crime costs global economy $445 billion a year: Report June 9, 2014

    London: Cyber crime costs the global economy about $445 billion every year, with the damage to business from the theft of intellectual property exceeding the $160 billion loss to individuals from hacking, according to research published on Monday. The report from the Centre for Strategic and International Studies (CSIS) said cyber...
  • Turn economy into a high growth path: President June 9, 2014

    New Delhi: The new government, headed by Narendra Modi, will accord topmost priority to containing food inflation and take tough against hoarding and black marketing, President Pranab Mukherjee said on Monday. "Containing food inflation will be the topmost priority for my government. There would be an emphasis on improving the supply...