Rupee rise by 35 paise to 53.10 a four-month high

The rupee rose by 35 paise to fresh over four-month high of 53.10 against the American currency inearly trade today on persistent dollar selling by exporters and some banks, apprehending further rise in rupee's value.The rupee had gained a hefty 93 paise to close at over four-month high of ...

Sensex opens 56 points higher

The BSE benchmark Sensex gained over 56 points in early trade today to fresh 14-month high on sustained buying by funds and retailers on expectations of more economic reforms by the government.The 30-share barometer added over 56 points, or 0.30 per cent, to trade at over 18,809, its highest level s...

India, S Africa confident of achieving USD 15 billion bilateral trade

India and South Africa have exuded confidence of achieving the 15 billion US dollar bi-lateral trade this current year itself ahead of the set target in 2014. The announcement follows Commerce and Industry Minister Anand Sharma's meeting with his counterpart Rob Davies during his two-day vi...

FIIs infuse over Rs 9000 crore in September

Betting high on India's reform initiatives, foreign investors have pumped in more than 9,000 crore rupees in the country's equity market so far this month. Analyst expects inflows will continue in the coming months as well. Foreign Institutional Investors (FIIs) investment in the c...

FDI in retail not a threat to kirana shops: Montek

Planning Commission Deputy Chairman Montek Singh Ahluwalia today said modern retail is an expanding segment and it would more than double in a very short time. Speaking at a TV programme, he allyed fears that opening up of the retail sector for FDI will hurt small kirana shops. Lauding the governmen...

Indian Industry hails Prime Minister's resolve on economic reforms

Industry bodies have lauded Prime Minister Dr Manmohan Singh for taking bold decisions to move ahead with economic reforms despite political compulsions. In a statement, CII President President Adi Godrej said, the Prime minister has unambiguously sent a message that the government is determined to ...

SBI cuts prime lending rate by 0.25 per cent

The State Bank of India, SBI has announced a reduction in lending rates by 0.25 per cent for those who availed loans before July 2010. The bank's new benchmark prime lending rate, BPLR has been set at 14.50 per cent. The new rate will be effective from September 27.Earlier on September 18, ...

India to relax fabric sourcing norm from Sri Lanka

India has accepted Sri Lanka's request for relaxation of fabric sourcing for readymade garments export to India. Once the notification by the Government of India is issued, Sri Lanka will be able to export 8 million pieces of readymade garments to India at zero duty under India- Sri Lanka F...

Centre announces new scheme to provide tax benefits to retail investors

Sensex gains 404 pts to close at 18,753

The Sensex at the Bombay Stock Exchange surged a whopping 404 points, or 2.2 percent, to close at a one-year high of 18,753, today, as the market gave the thumbs up to the UPA government's resolve to push ahead with economic reforms. Positive Asian markets also help lift sentiment. During t...