ECONOMY

  • Indian Rupee plunges to over three month low of 63.32 against dollar 3 days ago

    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 4 days ago

    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 4 days ago

    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 5 days ago

    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 6 days ago

    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...
  • Sensex rises for 4th straight day; up 191 points April 8, 2015

    Mumbai: Logging its fourth consecutive rise on Wednesday, the benchmark BSE Sensex ended over 190 points higher at 28,707.75, mainly led by gains in Reliance, Infosys and Coal India amid sustained foreign fund inflows. Rate-sensitive banking, realty and capital goods shares were back in the action after some banks cut...
  • Growth, environment can co-exist; India must lead fight on climate: PM Modi April 6, 2015

    New Delhi: Seeking to scotch "lies" being floated about the Land Acquisition Bill, Prime Minister Narendra Modi on Monday asserted that it synergized India's growth imperative with the need for environment protection, while calling for the country to demonstrate leadership in tackling the global threat of climate change. Inaugurating the state...
  • Standard Chartered says India's real growth 'very elusive' April 5, 2015

    Mumbai: India's real growth remains "very elusive" and markets have "resigned" to a slower recovery, while foreign investors are still optimistic for want of alternatives, British major Standard Chartered has said. "A lot of macro parameters have improved for sure, but growth has been very elusive. The high new GDP...
  • Rupee bounces back by 18 paise vs dollar, ends at 62.49 April 1, 2015

    Mumbai: The rupee ended the fiscal on a positive note by rising 18 paise to 62.49 against the American currency on Wednesday on selling of dollars by banks and exporters on expectation of resumption of foreign capital inflows into equity market. The Indian currency had ended the last fiscal year at...
  • Sensex closes 303 points up April 1, 2015

    Mumbai: A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), made healthy gains during Wednesday's session to provisionally close the day's trade 303 points or 1.08 per cent up. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made gains during the day's trade. It...
  • Rupee bounces back by 18 paise vs dollar, ends at 62.49 March 31, 2015

    Mumbai: The rupee ended the fiscal on a positive note by rising 18 paise to 62.49 against the American currency on Tuesday on selling of dollars by banks and exporters on expectation of resumption of foreign capital inflows into equity market. The Indian currency had ended the last fiscal year at...
  • Rupee falls 26 paise on fresh dollar demand March 30, 2015

    Mumbai: The rupee on Monday ended lower by 26 paise at 62.67 against the US currency due to renewed month-end demand from importers for the dollar. Fresh capital outflows and dollar gains in overseas markets also weighed on the rupee, while strong rebound in local equities restricted the rupee's fall,...
  • Sensex soars 517 points, logs biggest gain in over 2-months March 30, 2015

    Mumbai: The benchmark BSE Sensex on Monday surged by over 517 points-- its biggest one-day gain in nearly two-and-a-half months-- to end at 27,975.86 on across-the-board buying amid firm global cues. Brokers attributed the the steep rise to value buying from an "over-sold" position after persistent fall in stock prices...
  • Deepak Parekh pitches for greater government, corporate investment in education March 29, 2015

    Gurgaon: Terming spending on education as abysmally low at 3 per cent of GDP, eminent industry leader Deepak Parekh on Sunday called for "aggressive" investments by the government as well as corporates in the sector, saying it is the key to unlock India's demographic dividend. "For a country like India, spending...