ECONOMY

  • Rupee gains 8 paise against dollar in early trade Yesterday

    Mumbai: The rupee strengthened by 8 paise to 61.86 against the dollar in early trade on Friday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid a higher opening in the domestic equity market. Forex dealers said besides increased selling of the American...
  • Market closes at new high; Sensex ends at 28,334.63, NIFTY at 8,477.35 Yesterday

    Mumbai: Indian stocks on Friday notched up their best gain in three weeks with benchmark Sensex surging 267 points and Nifty jumping by 75.45 points to hit new highs powered by a spurt in shares of lenders after Kotak Mahindra-ING Vysya announced India's biggest banking merger. The mood was positive across...
  • British Airways, Lufthansa to offer special fare, products to Indian travelers 2 days ago

    New Delhi: British Airways and Lufthansa are among several international carriers coming up with special fares and products to target the high-end Indian air traveler. British Airways (BA) came out with a limited period 20 per cent discount for its business class flights to North America, while Lufthansa announced introduction of...
  • Rupee plunges to 62-level against dollar, but recoups losses 2 days ago

    Mumbai: The rupee on Thursday plunged to nine- month low of 62.25 against the dollar but recouped losses to close the day at 61.94 on suspected selling of the US currency by state-run banks on behalf of the RBI and mild recovery in stocks. The previous low for rupee was 62.45...
  • Japan PM Shinzo Abe puts off tax hike, calls snap poll 4 days ago

    Tokyo: Japan's Prime Minister Shinzo Abe called a snap election for December and put off a sales tax hike planned for next year, vowing on Tuesday to step down if his strategy to revive the ailing economy falls flat. Despite Abe's aggressive revival policies to end two decades of stagnation, the...
  • Rate cut by RBI will give a good fillip to the economy: Arun Jaitley 4 days ago

    Pushing for a rate cut by the Reserve Bank of India, Finance Minister Arun Jaitley said that the measure would give a good fillip to the economy. Jaitley's comments came on the back of a slide in crude oil prices and inflation moderating. "I am quite clear in my mind...
  • Rupee drops for 4th day vs USD, ends at 1-month low of 61.74 4 days ago

    Mumbai: The Indian rupee on Tuesday weakened for the fourth straight session and ended at a one-month low of 61.74 against the US dollar. In line with lacklustre trade in local equities, the rupee closed one paisa down against the greenback on alternate bouts of buying and selling, despite a sharp...
  • Sensex closes 15 points down at 28,163.29; Nifty down at 8,425.90 4 days ago

    Mumbai: Sensex on Tuesday ended about 15 points down at 28,163.29 after hitting lifetime high of 28,282.85 while Nifty closed 5 points down at 8,425.90. Indices are steady in noon trade with the Sensex up 23 points at 28201, and the Nifty up 3 points at 8434. Buyers are focused on...
  • Modi, Abbott hold talks, seek enhanced economic partnership 4 days ago

    Canberra: India and Australia on Tuesday sought early conclusion of negotiations for a comprehensive economic partnership agreement and a closure on the civil nuclear deal as Prime Minister Narendra Modi and his counterpart Tony Abbott held talks. After the two leaders held talks, India and Australia signed five pacts on social...
  • Rate cut by RBI will give 'good fillip' to economy, says Arun Jaitley 5 days ago

    New Delhi: Pitching for a rate cut by RBI, Finance Minister Arun Jaitley on Monday said that lower cost of capital will give a "good fillip" to the economy. "I am quite clear in my mind that the cost of capital has to come down....
  • G20 plans major investment initiatives in countries like India 5 days ago

    Brisbane: The G20 has cited India among other countries for launch of major investment initiatives and for having a sustainable growth. A Brisbane Action plan released as part of the G20 communique also said that the state of the global economy calls for a comprehensive and coherent policy response that restores...
  • Markets' dream run continues, Sensex, Nifty surge to new peaks 5 days ago

    Mumbai: Extending their record-breaking run, the Sensex on Monday surged 131.22 points to end at new peak of 28,177.88 and the Nifty rose 40.85 points to fresh closing high of 8,430.75 on the back of positive cues on the trade deficit front and robust gains logged by SBI and Tata...
  • Rupee ends almost stable at 61.73 Vs US dollar on Monday 5 days ago

    Mumbai: In lackluster trade, the Indian rupee on Monday closed almost flat at 61.73 against the Greenback on alternate bouts of demand and supply amid rise in dollar value overseas. While the marginal drop in rupee was its third straight session of decline, the local currency seemed to hold steady compared...
  • G-20 leaders agree on $2 trillion boost to growth 6 days ago

    Brisbane: Under pressure to jolt the lethargic world economy back to life, leaders of G-20 nations on Sunday finalized a plan to boost global GDP by more than $2 trillion over five years. The fanfare, however, was overshadowed by tensions between Russian President Vladimir Putin and Western leaders. The communique from...
  • Inflation drops to 5-year low of 1.77 per cent, India Inc wants rate cut November 14, 2014

    New Delhi: Driven by softening prices of fuel and food items, the WPI inflation cooled to a five year low of 1.77 per cent in October raising hopes of rate cut by the Reserve Bank next month to boost economic growth. The decline in Wholesale Price Index (WPI) based inflation...
  • Rupee ends lower by 4 paise vs dollar at 61.55 November 13, 2014

    Mumbai: Paring its early gains, the rupee finished lower by 4 paise at 61.55 against the US dollar on renewed dollar demand from banks and importers. The rupee resumed higher at 61.46 per dollar as against last closing level of 61.51 at the Interbank Foreign Exchange (Forex) Market. However, it declined afterwards...
  • Sensex ends 68 points down; HPCL, BPCL slip 4-6 per cent on excise hike November 13, 2014

    Mumbai: The market has ended lower. The Sensex was down 68.26 points or at 27940.64 and the Nifty slipped 25.45 points at 8357.85. About 1334 shares advanced, 1716 shares declined and 105 shares were unchanged. Tata Power, Sesa Sterlite, ONGC, GAIL and Hero Moto were major laggards. On the gaining...
  • Manohar Parrikar travels in economy class, avoids Z security November 12, 2014

    Panaji: Union Defence Minister Manohar Parrikar on Wednesday said he would use the security cover only when necessary, and avoid using the special aircraft as far as possible. "I have not taken Z security cover in Goa. I would prefer to go around with minimum security. But in Delhi while travelling...
  • Industrial output growth picks up in September to 2.5 per cent November 12, 2014

    New Delhi: India's industrial output grew a faster-than-expected 2.5 per cent year-on-year in September, helped by a rebound in capital goods sector, government data showed on Wednesday. Analysts polled by Reuters had forecast the output to grow a meagre 0.6 per cent. Industrial production was upwardly revised to 0.5 per cent...
  • Rupee gains on foreign fund inflows November 12, 2014

    Mumbai: The rupee gained on Wednesday as heavy foreign fund buying of debt and equities boosted the local unit, but good demand for the greenback from state-run banks and caution ahead of retail inflation data prevented further gains. Foreign institutional investors have been buying both shares and debt in recent weeks,...
  • Markets take a breather, Sensex down 47 points on profit-booking November 7, 2014

    Mumbai: Stock markets took a breather on Friday with benchmark Sensex falling about 47 points in volatile trade, retreating from record highs, as investors booked profits in banking, metal and capital goods sector stocks. After remaining positive in early trade, the Sensex touched the day's high of 27,980.93. However, investors...
  • Rupee down 13 paise against dollar in early trade November 7, 2014

    Mumbai: The rupee fell by 13 paise to 61.54 against the dollar in early trade on Friday at the Interbank Foreign Exchange due to increased demand for the US currency from importers. Forex dealers attributed the rupee's weakness to increased demand for the US currency from importers but a higher opening...
  • Reforming the economy not an easy process but will overcome hurdles soon, assures Arun Jaitley November 5, 2014

    New Delhi: Emanating optimism regarding a positive investment environment in the country, Finance Minister Arun Jaitley on Wednesday said that he is satisfied with the beginning that the government has made. He also said that reforming the economy is not an easy process and will take considerable time. "The pit...
  • NCAER lowers India GDP growth forecast for this year to 5 per cent November 4, 2014

    New Delhi: The National Council of Applied Economic Research (NCAER) has lowered India's GDP growth forecast to 5 per cent in the current financial year on weak economical fundamentals and uncertainties in growth prospects. The economic think-tank in its earlier projection had suggested that the Indian economy was likely to...
  • Rupee depreciates four paise vs US dollar to end at 61.40 November 3, 2014

    Mumbai: The Indian rupee on Monday depreciated by four paise to close at 61.40 against the Greenback on moderate dollar demand from importers, amid some hesitancy in equities. A better dollar overseas also weighed on the rupee while sustained capital inflows restricted the rupee fall. At the Interbank Foreign Exchange (Forex)...
  • Rupee snaps 4-day fall, ends at 61.36 vs US dollar on strong stocks October 31, 2014

    Mumbai: Robust capital inflows and good show by local equities helped the Indian rupee today snap a four-day losing trend and end nine paise higher at 61.36 against the Greenback. Fresh dollar selling by exporters and some banks also aided the rupee rise while a strong dollar overseas after forecast-beating US...
  • Nifty closes above 8300 for 1st time, Sensex spikes 520 points October 31, 2014

    Mumbai: The market staged spectacular performance on Friday as equity benchmarks saw the biggest one day gains for the first time since May 2014 led by index heavyweights like HDFC, Infosys, L&T and Reliance Industries. The rally was majorly driven by strong growth in US GDP in Q3CY14 and Japan's...
  • Global brands imbibing Indian values to boost luxury consumption October 30, 2014

    New Delhi: Luxury seems to have found a new address in India with emerging cities and small towns contributing to nearly half of country's Ultra HNH segment. In other words, Luxury brands are finding new patrons from small towns who have both money as well as taste. This is an...
  • Rupee drops to 2-week low vs US dollar after Fed sticks to low rates October 30, 2014

    Mumbai: Moving in opposite direction to stocks, the rupee on Thursday fell for the fourth day, dipping 10 paise to close at two-week low of 61.45 against the Greenback after US Federal Reserve kept in place its plans to maintain record low interest rate for some more time. While the Fed's...
  • Rupee up 7 paise against dollar in early trade October 29, 2014

    Mumbai: The rupee strengthened by seven paise to 61.25 against the dollar in early trade on at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks. Besides, the dollar's weakness against other currencies overseas as investors await news from the US Federal Reserve about interest...