RBI trying to settle oil payment to Iran issue

The Reserve Bank is trying to sort out the vexed issue of payment for oil supplies from Iran following its decision to abolish the use of a regional payment mechanism for these transactions. RBI Governor D Subbarao said at a function in New Dellhi that the apex bank was ensuring that oil supplies co...

FM projects 6% growth for agri sector this year

Finance Minister Pranab Mukherjee has expressed hope that the agriculture sector will clock six per cent growth this year. He was talking to experts from agriculture and other stake holders in this sector in the first Pre-Budget consultations in New Delhi . This is for the first time that the Financ...

Sensex closes below 20K level

Continuing to fall for the fourth straight session, the Sensex at the Bombay Stock Exchange lost a hefty 493 points, or 2.4 percent, to close below the key 20,000 point level, at 19,692, today, on heavy selling by investors, on concerns about an impending interest rate hike. The Nifty at the Nationa...

Euro zone growth down to 0.3% in September quarter of 2010

Indicating that the pace of growth is yet to pick up, the 16-nation euro zone economy grew by just 0.3 per cent in the September quarter of 2010. This is a much lower than the expansion rate seen in the previous three months.The euro area -- comprising 16 countries that share the common currency eur...

FAO warns of worrying rise in food prices

The UN food agency FAO today warned of a worrying rise in food prices which will affect millions of people following unexpected shortfalls in major cereals owing to bad weather last year.Aldolreza Abbassian, an economist at the Rome-based Food and Agriculture Organisation (FAO), told AFP that the pr...

Western Railway registers 10.50% growth in Passenger Earnings<br/>

Gold loses shine for third straight session

Sensex continues to fall; Slips below 20,000 level

Continuing to fall for the fourth straight session, the Sensex at the Bombay Stock Exchange lost a hefty 493 points, or 2.4 percent, to close below the 20,000 point level, at 19,692, today, on heavy selling by investors, on interest rate concerns. The Nifty slumped 144 points, or 2.4 percent, to end...

Oil rises in Asian trade

Crude oil prices rose to near 89 dollars a barrel in Asia, today, as traders looked to an important monthly employment report for signs that the US economy is strengthening.Benchmark crude for February delivery rose 47 cents, to 88.85 dollars a barrel on the New York Mercantile Exchange. The contrac...

Sensex continues to fall; Slips below 20,000 level

Continuing its slide for the fourth straight session, the Sensex at the Bombay Stock Exchange shed as much as 273 points, or 1.4 percent, to slip below the 20,000 point level, at 19,912, in afternoon trade, today. Earlier, in the morning, the Sensex had opened 57 points lower, on concerns over a lik...