‘Business News’ Archives
Food subsidy of Rs 45,125 cr released till Dec 15: Govt
Against the food subsidy budget of Rs 60,572 crore for the current fiscal, the government has already released Rs 45,125 crore till December 15, the Rajya Sabha was informed on Monday0-11 and Rs 58,242union territories to strengthen the functioning of TPDS by improving monitoring mechanism and vigilance, increase on a regular basis," he [...]
Mercedes-Benz to launch SLS AMG Roadster
Premium luxury car maker Mercedes-Benz Sunday said it will launch the SLS AMG Roadster during the Auto Expo in New Delhi in January0 cars including the SLS GT3 and the DTM car percent growth during January to November 2011 period and sold 6,698 cars as against 5,110 cars in the same period last year [subscribe2]
Inflation to fall to 6-7% by March if trend continues: FM
Finance Minister Pranab Mukherjee on Sunday said headline inflation in the country remains "perilously close" to double digits but is expected to moderate to 6-7 per cent by March if the present declining trend continues per cent in November from 92, he said Mukherjee said as per another assessment, there has been slow recovery in the US [...]
Sensex tumbles to 2-year low, Falls 345 points
Erasing initial gains, the Bombay Stock Exchange benchmark Sensex today fell to 2-year low, losing 345 points, as RBI expressed concerns over growth but did not ease liquidity, although it paused lending rate hike50 points but fell sharply to end with a loss of 3458 per cent to 15,4913 times since March 2010 to tame inflation, RBI finally put a [...]
RBI hits pause button on rate hikes; India Inc hails RBI’s move
The stock market reacted positively with the BSE sensex and NSE Nifty trading one per cent higher to the USD after opening strong following RBI’s intervention overnight to curb speculative forex positions226 hours, it traded off the day's high, at 521-month lowovernight exposure of Banks990s during the East Asian crisis when the Rupee had fallen [...]
Gold falls to 6-week low below Rs. 28,000 per 10 g
Gold fell below the Rs0 grams-level for the first time in six weeks in the national capital today, losing Rs0 grams on sustained selling amid reduced offtake at higher levels and a weakening global trend,565 in the past five sessions0 grams on December 800 per kg on fresh buying by industrial units and jewellers0 grams-mark,5700 grams, [...]
AI debts mount to Rs. 43,000 crore
Noting that Air India is passing through a deep crisis with its total debt touching a whopping Rs8,000 crore accumulated in the past three to four years, Civil Aviation Minister Vayalar Ravi said Mr Ravi said AI’s outstanding loan stood at Rs20,000 crore on account of purchasing new aircraft and Rs20,000 crore for taking loan for operational [...]
Rupee falls further
The Indian rupee breached the Rs 54 per dollar-mark in early trade on Thursday, tumbling by 61 paise to Rs 5421 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 53/72 per dollar, and dropped further to Rs 5429 per dollar at 1030 hours40 per cent, in early trade [subscribe2]
RBI intervenes to check free fall of rupee
In a significant move to control the free-fall of the rupee against the dollar, the Reserve Bank of India on Thursday imposed restrictions on forward contracts0, traders said77 to the dollar, after hitting 54 paise to Rs 5421 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 53/72 per dollar, and dropped further to [...]
Petrol price hike: price may go up by 65 paise from Friday
Petrol prices may be hiked by Rs 066 and followed this with a Rs 0st and 16th of every month based on the average international rates of the previous fortnight, may informally consult the parent Petroleum Ministry before taking a decision11 per barrel in Singapore this month, up from USD 10825 a barrel in the previous fortnight
Govt has limited options to combat economic slowdown says Pranab Mukherjee
Concerned over the deteriorating global economic situation, Finance Minister Pranab Mukherjee on Wednesday said the government has limited options to combat the slowdown1-12 from 8minus 02 per cent for the week ended October 22 Mukherjee further said a slowdown in external demand has led to a deceleration in India's exports growth, resulting in [...]
Rupee sheds 57 paise to record low of Rs 53.80/$
The Indian rupee lost 57 paise to a fresh all-time low of Rs 5355 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 5324 per dollar, and declined further to a record low of Rs 5361 per dollar at 1030 hours cents to USD 9983 a barrel
Indian economy has capacity to overcome crisis: Pranab Mukherjee
Concerned over slowdown, finance minister Pranab Mukherjee on Tuesday said the government will make efforts to build broad consensus on reforms as the economy has resilience to overcome the problem per cent in October, while the rupee crossed all time low of Rs 53 to a dollar80 crore for the current fiscal The finance minister said that for the [...]
Rupee hits record low of 53.21 per dollar
The rupee sank to a record low of 53 per dollar on Tuesday on worries Europe's debt crisis could exacerbate the growth slowdown in Asia's third-largest economy5/18, after falling 185 per cent from the same month a year earlier, far worse than expected The euro also plumbed two-month lows in Asia while the Australian dollar sank closer to parity as [...]
Govt mulling Rs.1000 cr credit risk guarantee fund: PM
Government is mulling setting up a Rs 1,000 crore Credit Risk Guarantee Fund to encourage banks to give loans to the poor, Prime Minister Manmohan Singh said today even as he asserted that policies cannot have one-size- fits-all approach towards both big and small cities,000 crore in the current year," Singh said in his speech at the national [...]
Industrial output contracts by 5.1% in Oct
India's industrial output fell for the first time in more than two years in October as waning consumer demand took a toll, adding pressure on the Central bank to ease monetary or liquidity conditions, possibly as soon as Friday% from a year earlier, far worse than a median forecast for a 03 increases since early 20100 to combat inflation that has [...]
Food Inflation Declines Sharply to 6.60%
Food inflation witnessed a sharp moderation to a 39-month low of 69 per cent9651, particularly on account of the base effect," ICRA Economist Aditi Nayar said3 per cent costlier during the week under review, while milk grew dearer by 11004 per cent in the week ended November 19553 per cent during the week ended November 26, the same as in the [...]
India’s Q2 GDP at 6.9%, slowest in over two years
Manufacturing growth has slowed down to 21, the government said today0 years ago, it would have elated me, but today I cannot have that satisfaction because we've reached the higher trajectory growth from there we are slipping," Finance Minister Pranab Mukherjee said0 per cent in the last quarter, has slipped to 93 over the past 18 months effected [...]
Petrol prices may dip further by Rs.1.02 per litre
Petrol prices may be cut by Rs5 cut petrol price by Rs07 per barrel during the second half of November as against USD 115602 per litre This would be the second reduction in petrol price since January 2009 when rates were cut by Rs5 per litre Before that the then Oil Minister Murli Deora had made oil firms slash petrol price by an equal [...]
Cabinet likely to clear FDI in multi-brand retail today
The government is likely to approve 51 per cent foreign direct investment 00 per cent from the present 51 per cent in single-brand retail is also on the agenda of the Union Cabinet meeting scheduled for Thursday, sources said per cent FDI in multi-brand retail with certain riders, like minimum investment of $100 million and local sourcing The [...]
