Era of banking secrecy is over: FM

Finance Minister Pranab Mukherjee has said the era of banking secrecy is over. Addressing a seminar on Adapting Tax System and International Tax rules to the New Global environment in New Delhi today, Mr Mukherjee said that international community is ready to declare sanctions against such countries...

Net direct tax collection declines by 48 percent

The gross direct tax collection for the first two months of this fiscal was up by 37 percent while the net direct tax collection declined by 48 percent in the same time period. According to the data released by the Finance Ministry, the decline in the net direct taxes was due to more than 200 per ce...

Mix oil prices in Asian trade

Oil prices were mixed in Asian trade today, suppressed by Saudi Arabia's plan to raise output to Asia despite OPEC's decision to keep oil production steady. New York's main contract, light sweet crude lost nine cents to 99.20 dollar a barrel, while Brent North Sea crude ro...

India misses electricity output target by over two percent in last fiscal

The country missed the electricity output target by over two percent in the last fiscal. The shortage was mainly due to lower coal production and its availability particularly for power generation. According to the latest report of Ministry of Statistics and Programme Implementation, the country pro...

BSE Sensex trading 58 points down in afternoon trade

The BSE benchmark Sensex which opened 110 points in red, recovered some of its ground and was trading 58 points down at 18209 points in noon trade.Similarly, the wide-based National Stock Exchange Nifty index slid by 21 points to 5,464.

IMF hit by cyberattacks

Rupee falls by 15 paise against US dollar

The Indian rupee fell by 15 paise to 44 rupees 87 paise against the US dollar in early trade on the Interbank Foreign Exchange today. This follows dollar gains against other currencies overseas and a weak trend in the equity market.Forex dealers said dollar strength against the euro andother Asian c...

BSE Sensex down by almost 110 points in opening trade

The BSE benchmark Sensex fell by almost 110 points in opening trade today on continued selling by foreign funds and retail investors. The 30-share barometer, which lost over 226 points in the previous three sessions, moved down further by 109 points to 18,159 in the first few minutes of trade today....

IMF hit by cyberattacks

SAARC trade ministers may discuss SAFTA on Monday

Implementation of South Asian Free Trade Agreement between SAARC countries is expected to come up in the meeting of its commerce ministers in Maldives tomorrow. From India, Commerce and Industry Minister Anand Sharma will attend the meeting. Official sources said, India is pressing hard for implemen...