The Sensex closed on Thursday at their highest levels since April 2011, after the government agreed to a vote on its decision to let foreign supermarkets set up shop in India, taking a major step towards ending a deadlock in Parliament. ...
09:21 AM, Nov 29, 2012
On Board PM's Special Plane: Swedish furniture major IKEA, which proposes to invest Rs 10,500 crore to set up stores in India, has got Department of Industrial Policy and Promotion nod and its application is now with Foreign Investment Promotion Board, Commerce and Industry Minister Anand Sharma said on Sunday. The Department of Industrial Policy and Promotion (DIPP), which is under the Commerce and Industry Ministry, has scrutinised the application...
06:11 PM, Nov 18, 2012
Mumbai: Falling for the sixth straight day on Friday, the Bombay Stock Exchange benchmark Sensex tumbled 162 points to end at nearly two-month low on late selling in realty, banks and auto shares as the RBI dashed hopes of an early rate cut saying inflation is still "quite high". Weak trends in global markets on Eurozone debt worries and the rupee trading above 55-levels against the dollar also hit the...
09:46 AM, Nov 16, 2012
Planning Commission Deputy Chairman Montek Singh Ahluwalia talks about whether Diwali has failed to lift the mood of gloom. ...
11:40 PM, Nov 12, 2012
New Delhi: There is no cheer on the economic front this Diwali. From industrial production to inflation to the sliding rupee, bad news has been coming from almost all the fronts. While the Indian economy is still growing at a healthy rate of almost six per cent, compared to less than two per cent for almost the entire developed world, the future is not too rosy unless the government, which...
02:13 PM, Nov 12, 2012
Gurgaon: A lot has been read into numbers when it comes to India's growth story. While India Inc has usually welcomed high percentage growth numbers as the high-point of private-public partnership, downward revision of growth rate has invited brickbats from the industry and media alike. But numbers very often mask reality. Where as the question for a country like India should have been prosperity and redistributive equity, somehow the discourse...
01:32 PM, Nov 08, 2012
At the most stimulating session of the World Economic Forum for India 2012 on the opening Wednesday, captains of the Indian and international industry and the Indian government agreed on the fundamental premise that faster economic growth was not just essential for the success of business but also to ensure distributive equity among India's people. The session titled 'rebooting India' comes at a time when the country's high growth rates...
02:58 PM, Nov 07, 2012
Mumbai: The BSE Sensex rose for a sixth session on Wednesday, with State Bank of India gaining on hopes of improved asset quality when it reports September quarter results on Friday, while other lenders such as ICICI Bank also rose in anticipation of better loan growth in the holiday season. The 30-share BSE Sensex gained 85.03 points or 0.45 per cent to close at 18,902.41. Meanwhile, the 50-share NSE Nifty...
09:50 AM, Nov 07, 2012
Oslo: The Indian monsoon is likely to fail more often in the next 200 years threatening food supplies, unless governments agree how to limit climate change, a study showed on Tuesday. The monsoon rains could collapse about every fifth year between 2150 and 2200 with continued global warming, blamed mainly on human burning of fossil fuels, and related shifts in tropical air flows, it said. "Monsoon failure becomes much more...
08:59 AM, Nov 06, 2012
Mumbai: Notwithstanding inflation concerns, the Reserve Bank of India (RBI) may go in for a rate cut on Tuesday to promote growth, which according to a central bank-sponsored survey could slip to 5.7 per cent in the current fiscal. "Monetary policy needs to be cautious in the interim, focusing on inflation while using the available space to support growth to the degree it can," RBI said in its macroeconomic and...
08:23 PM, Oct 29, 2012
Mumbai: The Bombay Stock Exchange Sensex fell 133 points, pulled down by HUL and ICICI Bank which posted their quarterly results on Friday, as cautious investors booked profits ahead of the RBI monetary policy review meeting next week and a weak trend in equity markets globally. Top heavyweight RIL was also down sharply. The BSE 30-stock index, Sensex, which gained 49 points on Thursday, fell 133.29 points or 0.71 per...
09:36 AM, Oct 26, 2012
Mumbai: Mumbai: The BSE Sensex rose on Monday after strong earnings from blue chip companies such as Larsen & Toubro and Tata Consultancy Services lifted market sentiment. L&T shares rose 2.32 per cent, while TCS rose 2.26 per cent. The BSE Sensex rose 0.59 per cent or 111.13 points to close at 18793.44. Meanwhile, the 50-share Nifty advanced 0.58 per cent or 32.90 to close at 5717.15. Investors have also...
09:40 AM, Oct 22, 2012
New York: Citing uncertainty in global economic scenario, Prime Minister Manmohan Singh today said the government's endeavour to achieve 8 per cent annual growth will not be an easy task, even though it is not unattainable. At the Combined Commanders' Conference here, Singh said India needs an aggregate growth rate of 8 per cent per annum to create new job opportunities for more than 10 million persons who are going...
07:39 PM, Oct 19, 2012
Mumbai: The BSE benchmark Sensex on Friday fell nearly 110 points on profit taking in power, metal and capital goods shares, snapping the two-day rally, amid weak global cues. The Sensex, which had gained about 215 points in last two days, opened weak and touched a low of 18,611.76 on selling in Reliance Industries (RIL), HDFC, HDFC Bank and L&T. Interest-rate sensitive stocks from auto, banking and realty also suffered...
09:45 AM, Oct 19, 2012
New Delhi: Differing with International Monetary Fund's growth forecast of 4.9 per cent for India during 2012, Planning Commission Deputy Chairman Montek Singh Ahluwalia said it has a statistical problem. "I think, it is the result of a bit of statistical problem," he told reporters on the sidelines of 4th OECD World Forum in reply to a question on the recent economic growth projection for India by IMF. Ahluwalia said...
02:39 PM, Oct 16, 2012
Mumbai: It is time for global credit rating agencies to take India off the negative watch list, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Monday even as a leading firm last week threatened of a possible downgrade of the country within 24 months. "I don't believe there's an iota of information that would suggest taking a negative step...The real issue for rating agencies, if they are reading the...
09:13 PM, Oct 15, 2012
Mumbai: The economy will turn the corner in the next six months as the deceleration of the past several quarters has been arrested, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Monday. "It is our hope that in the second half of the year, which has begun just now, many of the measures taken by the government in the recent past to revive investor confidence will lead to a...
02:06 PM, Oct 15, 2012
Mumbai: The rupee on Friday dropped by 12 paise to 52.80 against the US dollar in the late morning trade on fresh dollar demand from banks despite the latter being weak in overseas market amidst persistent capital inflows. The rupee resumed marginally higher at 52.65 per dollar as against the last closing level of 52.68 at the Interbank Foreign Exchange (Forex) Market. However, it declined immediately to 52.88 a dollar...
10:19 AM, Oct 12, 2012
Beijing: India is plagued by its "inefficient and impotent public sector", said a state-run Chinese daily, which added that successful Indian software and banking industries "contribute little to the employment and income growth of the overall economy". An article "Inefficient public sector lets down India's entrepreneurial spirit" in the Op-Ed section of the Global Times said that as the two most prominent emerging countries in the fast-growing Asian region, China...
12:02 AM, Oct 12, 2012
Tokyo: Dismissing fears of a rating downgrade, Finance Minister P Chidambaram on Thursday said the government would take a host of reform initiatives in the next two years to spur growth momentum. "I don't think there is a serious threat of a downgrade but we take the talk of a downgrade seriously. We will engage with rating agency and convince them that India does not deserve a downgrade," the Minister...
06:32 PM, Oct 11, 2012
