Business

October 16, 2013 6:52 PM

US overtakes Saudi Arabia, becomes world's biggest oil producer

The United States has overtaken Saudi Arabia to become the world's biggest oil producer. The change has been made possible due to the jump in output from shale gas finds in US. According to the latest report by the leading US energy consultancy PIRA, US output, which includes natural gas li...

October 16, 2013 6:51 PM

US push to brink of unprecedented debt default

The United States was today pushed to the brink of an unprecedented debt default as talks to end two-week-long shutdown collapsed. This prompted a top ratings firm to warn of a possible downgrade in the country's creditworthiness, which will have a cascading impact on the global economy.Fra...

October 16, 2013 6:48 PM

Reverse mortgage scheme extended till life of borrower

Reverse mortgage scheme has been extended till life of a borrower to make it more attractive to senior citizens. Earlier, the period of reverse mortgage loan was 20 years. The period starts from the date of signing the agreement by the mortgager and the approved lending institution. A notification b...

October 16, 2013 11:22 AM

EU to host Trade & Investment Partnership Summit in Brussels today

The European Union will host a major business summit in Brussels today, aimed at improving trade and investment between Europe and India. The summit, Trade and Investment Partnership Summit (TIPS 2013), will be held at the European Parliament, organised by the Brussels-based Europe India Chamber of ...

October 15, 2013 7:33 PM

Britain, China sign financial pact designed to boost direct investment

Britain and China have signed a financial agreement that is designed to boost direct investment between the two countries. The British Chancellor of the Exchequer who is visiting Beijing is trying to ensure that London is the leading destination for Chinese investment. The deal does two things. It r...

October 15, 2013 6:43 PM

EU to host Trade & Investment Partnership Summit in Brussels tomorrow

The European Union will host a major business summit in Brussels tomorrow, aimed at improving trade and investment between Europe and India. The summit, Trade and Investment Partnership Summit (TIPS 2013), will be held at the European Parliament, organised by the Brussels-based Europe India Chamber ...

October 15, 2013 5:19 PM

Sensex down 60 points to close above 20,000 mark<br/>

Snapping a five-day rally, the Sensex at the Bombay Stock Exchange declined 60 points, or 0.3 percent, to close at 20,548, today. The Sensex had advanced over 700 points in the previous five trading sessions. The Nifty at the National Stock Exchange fell 24 points, or 0.4 percent, to 6,089.But stock...

October 15, 2013 2:14 PM

Sensex rules flat in afternoon trade

The Sensex at the Bombay Stock Exchange had gained 25 points, or 0.1 percent, to 20,632, after moving between negative and positive territory, in very volatile trade, a short while ago. Earlier, in morning trade, the Sensex had climbed 143 points, or 0.7 per cent, to 20,750, but later erased al thos...

October 15, 2013 1:12 PM

Sensex falls 63 points in late afternoon trade

The Sensex at the Bombay Stock Exchange fell by 63 points to 20,544 in late afternoon trade today. The fall attributed by fresh selling, mainly in banking, auto, FMCG and capital goods counters. Earlier, the 30- share index lost 81 points in late morning trade today. The Nifty at the National Securi...

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