Oil extends losses in Asian trade

Oil extended losses in Asian trade today, with prices hittingmulti-month lows as Spain's banking woes intensified worries about theeurozone.New York's main contract, West Texas Intermediate crude for delivery in July was down 24 cents to 87.58 dollar per barrel while Brent North Se...

Rupee tumbles by 26 paise against dollar

The rupee today tumbled by 26 paise to trade at a new all-time low of56 rupees 50 paise against the US dollar in early trade. This followsincreased capital outflows and strong demand from importers for theAmerican currency.Traders said apart from capital outflows by foreign funds, strengthening of d...

Sensex down by over 148 points in early trade

The BSE benchmark Sensex fell by over 148 points in early trade todayon continued selling by foreign funds. The 30-share barometer, whichhad lost 126.43 points in yesterday's trade, fell further by 0.91 percent, to 16,164 in early trade.All sectoral indices, led by banking and auto, were tr...

3rd Indo-Bangladesh Trade Fair 2012 begins in Dhaka tomorrow<br/>

The Third Indo-Bangladesh Trade Fair 2012 being organized by the India Bangladesh Chamber of Commerce and Industry is set to begin in Dhaka on Thursday.The fair will be inaugurated by Bangladesh Finance Minister Abul Maal Abdul Muhith. Bangladesh Minister for Industries Mr. Dilip Barua, Chief Minist...

Govt forms committee to review functioning of PSC<br/>

Govt forms committee to review functioning of PSC

Rupee closes at new low of 56.24

At the inter-bank foreign exchange market, the rupee lost 57 paise, to close at a new record low of 56.24 against the dollar.The rupee fell amid sustained month-end dollar demand from importers, and as global investors turned to the dollar as a safe haven on fresh Eurozone worries.The rupee&apos...

India to be 2nd largest producer of crude steel in world by 2015: Govt

The government on Wednesday said that India would become the second largest producer of crude steel in the world by 2015. Chairing the meeting of the Parliamentary consultative committee of steel ministry in New Delhi, Steel minister Beni Prasad Verma said that the Steel Industry in the country also...

Centre agrees for <img src="rs.png" border="0" height="10"> 35,000 cr debt restructuring package for textile sector

The Centre has agreed for a 35000 crore rupee debt restructuring package for the textile sector. Following his meeting with Finance Minister Pranab Mukherjee last evening, the Textiles Minister Anand Sharma announced that the Government has agreed that there is a need to support the Textiles industr...

IT dept will not re-open cases prior to 1st April 2012: Pranab

The government has assured that all income tax cases where assessment proceedings have been finalized by the 1st of April this year will not be reopened.This was stated by Finance Minister Pranab Mukherjee after inaugurating a new office of the Income Tax Department named Pratyaksh Kar Bhawan in New...