Business

October 28, 2014 1:49 PM

Govt scraps ongoing selection process of PSU Banks CMDs, EDs

The government has canceled the current selection process for the posts of chairman and managing director, CMD and executive director ED of Public Sector Banks. The decision was taken after receiving the report of a committee constituted to examine the selection process adopted for the appointment o...

October 28, 2014 7:45 AM

Govt scraps ongoing selection process of PSU Banks CMDs, EDs

The government has canceled the current selection process for the posts of chairman and managing director, CMD and executive director ED of Public Sector Banks. In a statement, the Finance Ministry said that the government constituted a committee consisting of Secretary Expenditure, Secretary School...

October 28, 2014 7:26 AM

India's GDP likely to grow by 5.6 per cent this fiscal: World Bank

The World Bank has said that India's GDP is likely to grow by 5.6 per cent this fiscal. In its report titled, 'India Development Update', the World Bank said that the growth is expected to accelerate as proposed measures such as the Goods and Service tax will give a boost ...

October 27, 2014 6:02 PM

Key Asian markets ended mixed today

Key Asian markets ended mixed, on Monday. So Japan's Nikkei 225 index rose 0.6 percent; and South Korea's Kospi gained 0.3 percent. But Hong Kong's Hang Seng lost 0.7 percent; China's Shanghai Composite index declined 0.5 percent; and Singapore's Straits ...

October 27, 2014 5:38 PM

Brent oil drops below $86 after Goldman cuts price forecasts

Brent crude oil futures declined 25 cents, to fell below 86 dollars at 85.88 dollars a barrel, on Monday, after Goldman Sachs slashed its price forecasts, citing abundant supply and lacklustre demand despite a pick-up in global economic growth. But the US crude oil future was up 2 cents, at 81.03 do...

October 27, 2014 4:05 PM

Gold tumbles Rs 350 to Rs27,450 per ten grams

Gold tumbled 350 rupees, to 27,450 rupees per ten grams at Delhi's bullion market, on Monday, on fall of demand after the end of festive season and a weak global trend. Silver lost 35 rupees, to 38,200 rupees per kilo on reduced off take by industrial units and coin makers. Silver coins plu...

October 26, 2014 5:21 PM

China, 20 other countries move to establish AIIB in Beijing

China and 20 other countries moved forward Friday towards setting up an Asian infrastructure lender seen as a counterweight to Western backed international development banks. The signatories put their names to a Memorandum of Understanding, MoU, to establish the Asian Infrastructure Investment Bank,...

October 26, 2014 5:05 PM

Mutual fund industry's equity exposure to IT sector climbs to all-time high

The mutual fund industry's equity exposure to the IT sector climbed to a fresh all-time high of around 32,000 crore rupees at the end of September. This also marks the fourth consecutive rise in mutual fund (MF) industry's exposure to the software stocks.According to data available...

October 26, 2014 5:03 PM

FDI in services sector dips 9% during April-August

Foreign direct investment (FDI) in the services sector dipped by 9 percent to 1.1 billion dollars during the April-August period of the current fiscal.According to the data by Department of Industrial Policy and Promotion, the services sector had received FDI worth 1.2 billion dollars during the fir...

October 26, 2014 2:02 PM

Swiss gold exports to India cross CHF 11-bn

Swiss gold exports to India so far this year has reached a record high level of about 70000 crore rupees, as banks in Switzerland come under greater black money scrutiny. Gold exports stood at about 15,000 crore rupees in September alone, which is double the figure for the previous month, according ...

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