Business

July 27, 2011 12:20 PM

Banks set to increase lending rates following RBI's rate hike

Banks are set to increase lending rates by another half a percentage point, after the Reserve Bank sharply raised key policy rates. The RBI yesterday hiked short-term lending and borrowing rates by 50 basis points to tame high inflation. With this increase, the short-term lending or Repo Rate has be...

July 27, 2011 12:18 PM

Rupee stronger by 28 paise against dollar

The Indian rupee strengthened by 28 paise to a nearly three-year high of 43 Rupees 90 paise against the US dollar in early trade today. The domestic currency moved in a range between 43.90 and 44.10 rupees per dollar in morning deals. The rupee had appreciated by 22 paise to close at a three-and-a-h...

July 27, 2011 11:50 AM

Oil prices mixed in Asian trade

Oil prices were mixed in Asian trade today with investor sentiment clouded by Europe's debt woes and the political battle in the United States over its borrowing ceiling. New York's main contract, light sweet crude for September delivery fell 34 cents to 99.25 dollars a barrel and ...

July 27, 2011 10:17 AM

Rupee up by 20 paise against dollar

The Indian rupee appreciated by 20 paise to Rs 43.98 per dollar in early trade today. The rupee had appreciated by 22 paise to close at a three-and-a-half month high of 44.19 against the US currency in yesterday's trade.

July 27, 2011 10:04 AM

Sensex gains 53 points in opening trade

The BSE benchmark Sensex gained nearly 53 points in opening trade today. The 30-share index of the Bombay Stock Exchange, which had lost 353 points in the previous session. Similarly, the wide-based National Stock Exchange Nifty index moved up by 17 points, or 0.31 per cent, to 5,591 points.Meanwhil...

July 27, 2011 9:21 AM

Oil mixed in Asian trade

Oil was mixed in Asian trade today, with investor sentiment muted over the US political standoff on competing plans to lift the country's borrowing cap. New York's main contract, light sweet crude advanced 15 cents to 99.35 dollar a barrel and Brent North Sea crude eased 29 cents t...

July 27, 2011 9:08 AM

Sensex slumps by 353 points to close at 18,518

The Sensex at the Bombay Stock tumbled by 353 points, the highest fall in 5 months to close at 18,518 on Tuesday. The Nifty at the National Stock Exchange dropped 105 points, or 1.9 percent, to 5,575. The sharper-than-expected rate hike by the Reserve Bank sparked-off selling especially in interest-...

July 27, 2011 9:06 AM

RBI hikes repo rates by 0.5 %

The RBI on Tuesday hiked short-term lending and borrowing rates sharply by 50 basis points for the third time in three months to tame high inflation. The move is expected to make all personal and corporate loans more expensive.The RBI has also revised its fiscal-end inflation projection to 7 per cen...

July 26, 2011 7:09 PM

Govt. to restore export sops for export of cotton, yarn

The government on Tuesday announced restoration of the Duty Entitlement Pass Book scheme on export of cotton and cotton yarn. The decision has been taken due to huge fluctuation of price faced by cotton yarn industry in the international and domestic market. Under the scheme, companies get refund of...

July 26, 2011 6:31 PM

India to be world's 2nd largest steel producer by 2013: Steel Minister

India will become world's second largest producer of steel in 2 years. Union Minister for Steel, Beni Prasad Verma said in New Delhi on Tuesday that the country will have an installed annual production capacity of over 120 million tonnes by 2013, up from the present 80 million tonnes.Addres...

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