ECONOMY

  • Nifty opens May series above 8200, Sensex firm 3 hours 3 minutes ago

    Mumbai: The Nifty is up 48.55 points or 0.6 per cent at 8230.05. The Sensex is up 185.04 points or 0.7 per cent at 27196.35. About 418 shares have advanced, 84 shares declined, and 68 shares are unchanged. Maruti, Dr Reddy's Labs, BHEL, Hindalco and Tata Motors are top gainers...
  • Nepal economy shattered by earthquake, recovery to take years 3 days ago

    Kathmandu: What took moments to flatten will take years to rebuild. In mere seconds powerful earthquake devastated a swathe of Nepal. Rebuilding the impoverished Himalayan nation's fragile economy will require a long slog, financed by foreign aid and money from its army of overseas workers. Initial estimates peg the economic damage...
  • Rupee drops 28 paise against dollar in early trade 4 days ago

    Mumbai: The rupee weakened by 28 paise to 63.58 against the US dollar in early trade on Thursday at the Interbank Foreign Exchange due to month-end demand for the American currency from importers amid capital outflows. Forex dealers attributed the fall in the rupee to month-end demand for the US dollar...
  • India brushes off concerns over gold import spike- for now 4 days ago

    Mumbai: Weak oil and commodity prices are offsetting concerns at India's central bank over the impact of a spike in gold imports on the broader economy, officials say, even as the industry forecasts another three months of strong buying. A more sustained increase in bullion imports after June, however, could cause...
  • Sensex ends 170 points lower, Nifty slipped to 45.85 points on Wednesday 5 days ago

    Mumbai: The market ended a volatile session on a weak note. The Sensex was down 170.45 points or 0.6 per cent at 27225.93, and the Nifty slipped 45.85 points or 0.5 per cent at 8239.75. About 1526 shares advanced, 1186 shares declined and 157 shares were unchanged on Wednesday. Bharti...
  • Mount Everest the jewel of Nepal's tourism industry, economy 5 days ago

    Mount Everest is the jewel of Nepal's tourism industry and it's economy. The country actively markets itself as a destination for adventures and the mountains feature prominently in videos produced by the tourism board. The Tourism Ministry said that 8 lakh tourists visited Nepal in 2013 and around 1 lakh...
  • World Bank pegs India's GDP growth at 7.5% in 2015-16 5 days ago

    New Delhi: The World Bank projects India's GDP to expand to 7.5 per cent in the current fiscal on account of increased economic activity and greater stability. "India's economic growth is expected to rise to 7.5 per cent in 2015-16, followed by further acceleration to 7.9 per cent in 2016-17 and...
  • Rupee rises for 2nd session; gains 33 paise vs dollar 6 days ago

    Mumbai: The rupee on Tuesday maintained its winning streak for the second straight day by gaining 33 paise to close at 63.15 against the American currency on persistent selling of dollars by banks and exporters. Strong recovery in the equity market, which saw the benchmark Sensex...
  • Rupee snaps two-day fall, recovers 8 paise against dollar at 63.48 1 week ago

    Mumbai: Snapping its two-day losing trend, the rupee on Monday recovered by 8 paise to close at 63.48 against the US dollar, after plunging to a 4-month intra-day low of 63.77, on fresh selling of the American currency by exporters and some banks. However, distinctly weak local equities, sustained capital outflows...
  • Indian Rupee plunges to over three month low of 63.32 against dollar April 23, 2015

    Mumbai: The rupee on Thursday plummeted to an over three-month low of 63.32 by losing 50 paise against the US dollar on renewed demand for the American currency from banks and importers amid foreign capital outflows in the equity market. The domestic currency on Thursday opened lower at 62.95 as against...
  • Rupee gains for second session; up 3 paise against dollar April 22, 2015

    Mumbai: The rupee rose by seven paise at 62.78 against the US dollar in early trade on Wednesday at Interbank Foreign Exchange on sustained selling of the American currency by exporters. The domestic currency had ended six paise higher at 62.85 against the Greenback on dollar selling by banks after falling...
  • Sensex rebounds by 214 points on value-buying April 22, 2015

    Mumbai: Ending five-day losing streak, the benchmark BSE Sensex on Wednesday rebounded by over 214 points to 27,890.13 on value-buying in capital goods, pharma and banking stocks as sentiment improved after Saudi Arabia ended its military campaign in Yemen. Sentiment were also buoyed after Finance Minister Arun Jaitley said GST bill...
  • Rupee recovers from 3-month low; up 6 paise against dollar April 21, 2015

    Mumbai: The rupee recovered from more-than three months low of 63.15 in early trade on dollar selling by banks, believed to be on RBI instruction, to settle six paise higher at 62.85 against the US currency. Forex dealers said "there were inflows from FIIs and FPIs to buy Japanse drug major...
  • Rupee down 55 paise against dollar, logs biggest fall in 2015 April 20, 2015

    Mumbai: Logging its biggest fall of the year, the rupee on Monday plunged by 55 paise to close at over one-month low of 62.91 against the greenback amid sustained demand for dollars from importers. Meanwhile, the benchmark BSE Sensex stumbled by 555.89 points or 1.95 pct to end at three-week low...
  • India's ability to absorb economic shocks is stronger: Arun Jaitley April 18, 2015

    Washington: With the vast depth and size of its market, India's ability to absorb international shocks is far stronger as reflected in the rupee remaining relatively stable, Finance Minister Arun Jaitley has said. "International factors obviously have an impact. Considering the vast depth and size of the Indian market...our ability...
  • World Bank chief praises PM Modi's Jan Dhan Yojna April 17, 2015

    Washington: The World Bank chief Jim Yong Kim on Friday said that the "strong visionary leadership" of Prime Minister Narendra Modi has resulted in "extraordinary effort" by India on financial inclusion of its people. The World Bank in a report released this week said by January 2015, 125 million bank accounts...
  • Rupee ends lower by six paise vs US dollar on Friday April 17, 2015

    Mumbai: The rupee on Friday snapped its two-day gaining streak against the US dollar by losing 6 paise to end at 62.36 on fresh demand for the American currency from importers amid fall in global crude oil prices. The rupee opened slightly lower at 62.33 per dollar at the Interbank Foreign...
  • Vladimir Putin says Russian economy has passed 'peak' of problems April 16, 2015

    Moscow: President Vladimir Putin on Thursday said the worst was over for Russia's crisis-hit economy, pointing to the recent rebound of the ruble despite Western sanctions over Ukraine. "The ruble has stabilised and strengthened," Putin said during his annual phone-in with Russians. "Experts believe that we have passed the peak of...
  • Roadmap for India-Canada free trade pact by September: PM Modi April 15, 2015

    Ottawa: India and Canada on Wednesday expressed commitment to have a free trade pact, with Prime Minister Narendra Modi saying a roadmap will be laid for the market opening agreement by September. Modi said the Bilateral Investment Promotion and Protection Agreement (BIPPA) will also be...
  • China growth slows to six-year low as stimulus fails to find traction April 15, 2015

    Beijing: China grew at its slowest pace in six years at the start of 2015 and weakness in key sectors suggested the world's second-largest economy was still losing momentum, intensifying Beijing's struggle to find the right policy mix to shore up activity. A series of cuts in interest rates, lower reserve...
  • US dollar ended lower against the rupee at 62.36 per dollar April 15, 2015

    Mumbai: The rupee snapped its two-day losing streak against the American currency, firming up by 15 paise to close at 62.36 per dollar on fresh selling by banks and exporters on the back of lower dollar in the overseas markets. The rupee opened sharply higher at 62.38 per dollar against the...
  • India will clock 7.5 per cent growth in 2015-16, overtake China: IMF April 14, 2015

    Washington: India will overtake China as the fastest growing emerging economy in 2015-16 by clocking a growth rate of 7.5 per cent on the back of recent policy initiatives, pick-up in investments and lower oil prices, the International Monetary Fund (IMF) said on Tuesday. "India's growth is expected to strengthen from...
  • India tops in remittances, receives $70 billion, says World Bank April 14, 2015

    Washington: The World Bank has said India continues to be the leading nation in remittances pulling in $70 billion from its global migrant workforce in 2014. World Bank's study of remittance, the money workers and professionals working in foreign lands send back to their native countries, attributed this mainly to...
  • Rupee weakens 15 paise against dollar in early trade April 10, 2015

    Mumbai: The rupee depreciated by 15 paise to 62.39 against the dollar in early trade on Friday on the Interbank Foreign Exchange as the American currency firmed up overseas on upbeat US jobs report. Besides, increased demand for the dollar from importers and a lower opening in the domestic equity market...
  • Sensex, Nifty close flat; Reliance up for 4th straight day April 10, 2015

    Mumbai: The market has seen consolidation on Friday after rising for last five consecutive sessions on short covering. The Sensex fell 5.83 points to 28879.38 and the Nifty gained 2.05 points at 8780.35. However, the broader markets remained favourite for buyers as the BSE Midcap gained 0.4 per cent and...
  • Investment is trust in future, don't underestimate mood in Germany, says Michael Steiner April 9, 2015

    In an exclusive interview to CNN-IBN's Foreign Affairs Editor Anchal Vohra, German Ambassador to India Michael Steiner said, "Don't underestimate the mood also because investment is trust in the future. So the psychological situation is also important. It also needs to change in practise all over the country. And my...
  • Rupee ends flat to close at 62.24 against US dollar April 9, 2015

    Mumbai: In restricted trading, the rupee ended steady at 62.24 against dollar due to uneven demand and supply transactions of the American currency from banks. The rupee resumed higher at 62.18 per dollar compared with the last closing level of 62.24 at the Interbank Foreign Exchange (Forex) market and firmed up...
  • Sensex climbs 177 points as Moody's upgrade lifts bank stocks April 9, 2015

    Mumbai: The benchmark BSE Sensex extended its winning run to the fifth session on Thursday, rising over 177 points to end at nearly four-week high of 28,885.21, after Moody's upgraded India's outlook to 'positive' from 'stable'. Lenders led the rise with Axis Bank, SBI, HDFC Bank, ICICI Bank rallying in the...
  • Moody's Investors Service raises India's credit rating outlook to positive April 9, 2015

    New Delhi: India's credit rating outlook was raised to positive by Moody's Investors Service signaling optimism in the efforts of Prime Minister Narendra Modi and RBI Governor Raghuram Rajan to improve the economy. The country's Baa3 rating was affirmed and the outlook was revised to positive. In a statement, the...
  • Rupee inches up by 2 paise to close at 62.24 against US dollar April 8, 2015

    Mumbai: The rupee ended marginally higher by two paise at 62.24 against the American currency on fresh selling of dollars by banks and exporters due to weakness of greenback in the international market. Sustained foreign capital inflows into equity markets also boosted the rupee against dollar, a forex dealer said. The domestic...