Business

April 17, 2012 12:42 PM

Jobs for youth & reducing poverty new WB Chief's priorities<br/>

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...

April 17, 2012 12:11 PM

Sensex shoots up 222pts on RBI rate cut

The BSE benchmark Sensex spurted by over 222 points in late morning trade today after the Reserve Bank cut short-term leading rate to support the economic growth. The 30-share index spurted by 222 points to trade at 17,373 soon after RBI announced cut in short-term lending rate, repo rate, by 0.50 p...

April 17, 2012 11:38 AM

New Credit Policy announced;RBI cuts lending rate by 50 basis pts

RBI has announced cut in short term lending rate by 0.5 per cent to 8 percent. The apex bank which announced its new credit policy in Mumbai today, has reduced bank rate by 0.5 percet to 9 percent . The bank estimtes the loan growth to be at 17 % for 2012-2013.It has retained cash reserve ratio at 4...

April 17, 2012 11:21 AM

Rupee up 5p; trading at 51.62 against dollar

The rupee appreciated by 5 paise to 51.62 against the US dollar in early trade today as the American currency fellagainst the euro and other currencies overseas. The rupee had ended lower by 37 paise to close at nearly three-month low of 51.67 against the US currency in yesterday&apos;s trade fo...

April 17, 2012 11:07 AM

RBI announces new Credit Policy

Rbi has announced new Credit policy. It has announced cut in lending rate by 50 baisis points. Cash reserve ratio has not been changed. It remains at 4.75

April 17, 2012 11:07 AM

Oil prices mixed in Asian trade

Oil prices were mixed in Asian trade today as investors weighed easing concerns over a supply disruption in the Middle East and signs of growing US consumer demand. New York&apos;s main contract, West Texas Intermediate crude for delivery in May was up three cents to 102.96 dollars per barrel wh...

April 17, 2012 10:57 AM

RBI to announce credit policy today

The Reserve Bank of India, the RBI has stated that growth is likely to improve moderately in 2012-13, however, the inflation path could remain around the current levels. The bank, in its Macro-economic and Monetary Development Report for 2011-2012, yesterday said that the path of inflation in financ...

April 17, 2012 10:47 AM

American Jim Yong Kim new World Bank Chief

Dr. Jim Yong Kim will be the new President of the World Bank. The Korean-American health expert is President of Dartmouth College in the U.S state of New Hampshire. He faced a strong challenge for the post, which has traditionally gone to an American from Nigerian Finance Minister Ngozi Okonjo-Iweal...

April 17, 2012 10:34 AM

Sensex gains 18pts; at 17,169 in early trade

The BSE benchmark Sensex extended gains for the second straight day by adding 18 points in early trade today on selective buying by funds and retail investors ahead of the RBI&apos;s monetary policy review for 2012-13. The 30-share index, which had gained 56 points in the previous session, added...

April 17, 2012 9:24 AM

Tough visa rules may see IT majors shift base: India warns UK

India today warned the UK that its IT majors may relocate their business to other European countries, if the British government insists on tough visa rules which affect Indian IT professionals. The issue came up for discussion during the meeting of commerce and industry Minister Anand Sharma with UK...

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