ECONOMY

  • 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...
  • Sensex climbs 183 poits; Infosys up 5 per cent January 9, 2015

    Mumbai: In a volatile trade, the stock market benchmark Sensex on Friday soared higher by 183 points, led by gains in IT stocks as Infosys beat market expectations with a robust set of quarterly results. After opening on a strong note, the 30-scrip BSE index...
  • Rupee gains 35 paise to end at four-week high vs US dollar January 9, 2015

    Mumbai: Notching up gains for the third successive session, Indian rupee on Friday surged 35 paise to end at four-week high of 62.32 against the greenback on persistent selling by participants and on continued optimism of inflows. Weakness in the dollar in overseas markets also boosted the rupee value, forex...
  • Rupee up 9 paise against dollar in early trade January 8, 2015

    Mumbai: The rupee strengthened by 9 paise to 63.08 against the dollar in early trade at the Interbank Foreign Exchange on increased selling of the US currency amid a higher opening in domestic equity market. Forex dealers said besides continued selling of the American currency by exporters and banks, a higher...
  • Global slow growth opportunity for India, says Arun Jaitley January 7, 2015

    Kolkata: Observing that India needs to create an environment for cyclic investments and ease norms of doing business, Union Finance Minister Arun Jaitley on Wednesday pointed to the ongoing global slow growth as an opportunity for the country as investors are eyeing its market. If the Union Minister, during his address...
  • Rupee logs best gain in 3 weeks, up 40 paise vs US dollar January 7, 2015

    Mumbai: Bucking the weak trend in stocks, the Indian rupee on Wednesday bounced back by 40 paise in its sharpest single-day gain in three weeks to end at 63.17 against the Greenback on fresh dollar selling by exporters and some banks. Besides, talk of foreigners buying domestic debt also helped the...
  • Arvind Pangariya will work hard to improve country's economy, says his brother January 7, 2015

    Columbia University professor Arvind Panagariya's appointment as the Vice Chairman of the NITI Aayog means he'll be home after 40 years. His family says he will work hard to improve India's economy and boost growth across the country. His brother said, "Overwhelmed at my brother's appointment as Vice Chairman of...
  • No respite for markets as Sensex, Nifty drop to three-week lows January 7, 2015

    Mumbai: After Tuesday's crash, the benchmark Sensex on Wednesday languished in the red for most of the session and closed 79 points down at three-week low on losses in bluechips, including ICICI Bank and Hindalco, amid continued capital outflows. The NSE Nifty barometer ended with a loss of 25.25 points at...
  • Bloodbath on Dalal Street; Sensex tanks 855 points on Greece woes January 6, 2015

    Mumbai: In its worst ever crash in over six years, benchmark Sensex on Tuesday tanked 855 points as stock markets globally went into a tailspin amid political turmoil in Greece and oil price cracking below $50-mark. The NSE Nifty also tanked 251 points, or 3 per cent, on massive selling...
  • India needs reforms in banking sector, more autonomy for state banks: Arun Jaitley January 3, 2015

    Pune: India needs to "conceive" several reforms in the banking sector, Finance Minister Arun Jaitley said on Saturday on the sidelines of a two-day banking retreat. Jaitley added that there is a need to give greater autonomy to banks and that non-performing loans in some cases was "unacceptable". "There is a need...
  • Stocks help rupee recover by 6paise vs US dollar to end at 63.29 January 2, 2015

    Mumbai: The Indian rupee recovered from initial losses and ended 6 paise higher at 63.29 against the greenback on Friday on selling of dollars by banks and exporters, amid hopes of more foreign capital inflows into equity market. On Thursday, the rupee suffered its worst single-day drop in over two weeks...
  • Sensex inches up by 8 points in tepid start to new year January 1, 2015

    Mumbai: The benchmark Sensex on Thursday ended with a mere gain of about 8 points at 27,507.54 in the first trading session of new year in lacklustre trade. Traders said direction-less investors confined their commitments to select stocks, having strong fundamentals amid most Asian financial markets remaining closed. On Wednesday, markets...
  • Rupee up 35 paise vs US dollar at 63.03; logs 4th straight yearly drop in 2014 December 31, 2014

    Mumbai: Indian rupee on Wednesday appreciated by 35 paise to end at two-week high of 63.03 against the greenback tracking firm equities and sustained dollar selling by exporters, but lost ground on an annual basis for the fourth year in a row. The rupee depreciated by 123 paise or 1.99...
  • Finance Minister Arun Jaitley denies pressuring RBI to cut rates December 30, 2014

    Mumbai/ New Delhi: Finance Minister Arun Jaitley denied on Tuesday that he was pressuring the Reserve Bank of India (RBI) into cutting interest rates, after his comment that the high cost of capital was stifling investment sent markets into a tizzy. Jaitley, in a speech in Delhi on Monday, said "costly...
  • RBI pitches for structural reforms; sees 6 per cent inflation in 2015 December 29, 2014

    Mumbai: Pitching for structural reforms to reinforce investor confidence, RBI on Monday said falling inflation and political stability have helped check the macroeconomic vulnerabilities, while retail inflation is expected to stabilise near 6 per cent level in 2015. The central bank, however, flagged lower revenue mobilisation this fiscal as a...
  • Arun Jaitley projects better growth rate in 2015, hints at tax reforms December 29, 2014

    New Delhi: While projecting a better growth rate in the year ahead, Finance Minister Arun Jaitley on Monday admitted that manufacturing remained a challenge but also hinted at tax reforms to boost sentiments in India. Speaking at the 'Make In India' event in New Delhi, Jaitley said the government is taking...
  • Nifty ends below 8250, Sensex up 154 points; banks in red December 29, 2014

    Mumbai: The market ended on higher note. The Sensex closed up 153.95 points or 0.6 per cent at 27395.73, and the Nifty was up 45.60 points at 8246.30. About 1616 shares have advanced, 1312 shares declined, and 117 shares are unchanged. Metal stocks ruled the roost with Sesa Sterlite, Hindalco...
  • Rupee plunges to over 13-month low of 63.67 against US dollar December 29, 2014

    Mumbai: Extending losses for the fourth straight session, Indian rupee on Monday declined by ten paise to log over 13-month closing low of 63.67 against the Greenback following sustained dollar demand from importers. Firm local equities, fresh capital inflows and some weakness in dollar overseas restricted the rupee fall to...
  • Rupee up 4 paise against dollar in early trade December 26, 2014

    Mumbai: The rupee strengthened by four paise to 63.47 against the dollar in early trade on Friday at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters and banks. Besides, a higher opening in the domestic equity market supported the rupee but the dollar's gains against...
  • Sensex gains 33 points in choppy trade, ends at 27,241.78 points December 26, 2014

    Mumbai: The BSE benchmark Sensex gained over 33 points to close at 27,241.78 and NSE Nifty reclaimed the 8,200-mark to register their first rise in three days. A smart rise towards the fag-end in TCS, HDFC, L&T, Sun Pharma, Hindalco, Sesa Sterlite, SBI, Infosys, HDFC Bank, Tata Steel and RIL mainly...
  • Government may cap economy air fares at Rs 20,000 December 25, 2014

    New Delhi: Government is considering to cap economy air fares at Rs 20,000 to check airlines from charging "exorbitant" fares or unleashing predatory pricing, affecting their own financial health. The proposal comes in the backdrop of SpiceJet episode, which had come out with a series of low-fare offers throughout the...
  • Rupee loses 23 paise against dollar at 63.51 against dollar December 24, 2014

    Mumbai: Month-end dollar demand from oil companies and persisting selling by foreign funds in stocks dragged the rupee down by 23 paise to 63.51 at close against the US currency on Wednesday. At the Interbank Foreign Exchange (Forex) market, the rupee commenced lower at 63.43...
  • Third-quarter US economic growth strongest in 11 years December 24, 2014

    Washington: The US economy grew at a 5 per cent clip in the third quarter, its quickest pace in 11 years and the strongest sign yet that growth has decisively shifted into higher gear. Some of the strength appears to have been sustained, with other data on Tuesday showing consumer spending...
  • Rupee loses 3 paise against dollar at 63.28 December 23, 2014

    Mumbai: The Indian rupee on Tuesday lost three paise at 63.28 against the dollar due to sustained capital outflows and fresh demand for the US currency from banks and importers. At the Interbank Foreign Exchange (Forex) Market, the rupee hovered in a range of 63.24 and 63.50 per dollar before...
  • Indian trade policies delayed American export to India: USITC December 23, 2014

    Washington: Restrictive Indian trade policies have delayed American export and investment to India, a USITC report has said with the US lawmakers asking the Narendra Modi government to address these significant areas of concern as both countries work to strengthen economic relations. "US exports to and investment in India would...
  • Manmohan Singh conferred the Second Asia Cosmopolitan Award December 22, 2014

    New Delhi: Former prime minister Manmohan Singh has been conferred another prestigious Japanese award, the Second Asia Cosmopolitan Award, for "transforming India's economy and its integration with the broader East Asian economy throughout his tenure". The Second Asia Cosmopolitan Award includes two scholars on East Asia and two cultural icons. The award...