Sensex down by 316 points

Tracking falling global markets, the Sensex at the Bombay Stock Exchange dropped 316 points, or 1.8 percent, to close below the 17,000 mark, at 16,990, today. The Nifty at the National Stock Exchange lost 93 points, or 1.8 percent, to 5,119. The market fell on sustained selling by investors, followi...

FDI in India up by 310% in June 2011

Foreign Direct Investment into India grew 310 per cent to 5.65 billion US dollar in June this year. Government data released today said, the increase is highest in the past 11 years and it indicates revival of investor confidence in the Indian economy. FDI inflows in India in June 2010 amounted to 1...

Rupee down by 26 paise against US dollar

The Indian rupee depreciated by 26 paise to trade at Rs 45 per US dollar in early trade today. The rupee had ended 20 paise lower at Rs 44.75 against the American currency in the previous session.

Global markets lower after downgrade of US credit rating by S&P

Global markets are having a negative reaction to Friday's downgrade of the U.S. credit rating by the Standard & Poors rating agency. Major Asian indexes in Tokyo, Seoul and Sydney were all down more than 1 per cent shortly after Monday morning's opening. Stock futures in Ne...

No difficulty to bring Direct Tax Code into operation from Ist April: Pranab

Union Finance Minister has said that there would be no difficulty to bring Direct Tax Code, DTC into operation from 1st of April next year. Mr. Pranab Mukherjee expressed hope that the Parliamentary Standing Committee will submit its report by Winter Session of Parliament. Speaking at a function in ...

No proposal to introduce dual pricing of diesel: Govt.

Government says there is no proposal for introducing dual pricing for diesel in the country, which would have made running of diesel cars costlier. Finance Minister Pranab Mukherjee said this while addressing a CII function in New Delhi. He said there is also no proposal to raise duties to make up a...

Handicrafts exports up 29 per cent in July

Handicrafts exports jumped by about 29 per cent year-on-year to USD 155 million in July on the back of rise in demand not only from western markets, but also from new markets like Middle East and Latin America.The exports stood at USD 120 million in July last fiscal, according to the data provided b...

Exclusive bank is planned to finance women Self Help Groups

The Centre is planning to set up an exclusive bank to finance women Self Help Groups across the country. This was disclosed by Union Rural Development Minister Jairam Ramesh in Hyderabad yesterday. He said, the Centre will also support the Andhra Pradesh government's plan to start an exclus...

S&P firm on decision to downgrade US credit rating

US downgrade not to impact India: SBI

Country's largest public sector bank, the State Bank of India, today said the downgrading of the US sovereign rating will not really impact India. Talking to reporters in New Delhi, SBI Chairman Pratip Chaudhary said the downgrading will effect the cost of borrowing in the United States by ...