IOC serves ultimatum to Centre on petrol price hike<br/>

State-run oil companies have served an ultimatum to the government that they will raise petrol prices by 9.6 rupees a litre if excise duty is not cut or they are not provided compensation for 49-crore rupees loss per day on fuel sale.Indian Oil Corporation Chairman R S Butola said in New Delhi that ...

RBI rate cut propels Sensex by 207 points

The Sensex at the Bombay Stock Exchange on Tuesday jumped 207 points, or 1.2 percent, to 17,358 after an unexpectedly sharp rate cut by the Reserve Bank, and in tandem with positive European bourses. The Nifty at the National Stock Exchange rose 64 points, or 1.2 percent, to 5,290.But stock markets ...

Country needs to be ready to respond to external shocks: Pranab

Finance Minister Pranab Mukherjee today said the country needs to be ever ready to respond to external shocks on real time basis. Addressing CII&apos;s Annual General Meeting and National Conference in New Delhi, Mr. Mukherjee said like in the past three financial years, India could confront any...

Inflation to come down, economy to turn round: Plan Panel Chief

The Deputy Chairman of Planning Commission Montek Singh Ahluwalia has said that inflation will come down and the economy will turn around towards growth trajectory by May. Speaking on the sidelines of a programme in Bangalore today he said that lowering of repo rate by RBI gives this signal that eco...

Sensex in the green; at 17,311 pts in volatile noon trade

The Sensex at the Bombay Stock Exchange rose a slim 18 points, or 0.1 per cent, to 17,169 in early trade, today, on selective buying by funds, ahead of the Reserve Bank&apos;s monetary policy announcement. Later, after a surprise 50 basis points rate cut by the apex bank, the Sensex jumped 222 p...

Sensex up almost 90pts in noon trade

The Sensex at the Bombay Stock Exchange rose a slim 18 points, or 0.1 per cent, to 17,169 in early trade, today, on selective buying by funds, ahead of the Reserve Bank&apos;s monetary policy announcement. Later, after a surprise 50 basis points rate cut by the apex bank, the Sensex jumped 222 p...

Need to fastrack India -Azerbaijan connectivity: Commerce MOS Scindia

Sensex gives up most gains; trading at 17,226

The BSE benchmark Sensex, which had spurted by 222 points soon after the Reserve Bank announced a cut in the repo rate, afterwards gave up most of its gains. The Sensex was trading 75 points in positive territory at 17,226 a a short while ago. The initial upsurge was led by interest rate sensitive s...

Jobs for youth & reducing poverty new WB Chief's priorities

The next President of the World Bank says his top priority will be to spur economic growth in order to create jobs and lift people out of poverty. Dr Jim Yong Kim said in an interview that economic growth that creates jobs, especially for young people, will remain high on his agenda. Taking people o...

60 billion $ Jap loan to IMF to contain Euro debt crisis

Japan says it will provide 60 billion dollar in loans to the International Monetary Fund, IMF, to boost its efforts to contain the European sovereign debt crisis. The Japanese Finance Minister Jun Azumi announced this at a news conference in Tokyo today. The announcement makes Japan the first non-Eu...