ED quizzes former official of Kingfisher Airlines in money laundering case

The former Chief Financial Officer of now defunct Kingfisher Airlines today appeared before the Enforcement Directorate (ED) office in Mumbai in connection with the money laundering case. The ED had on Thursday summoned A Raghunathan, former CFO, along with former Chairman and Managing Director of t...

SEBI to crack whip on wilful defaulters

Amid a huge controversy over loan defaults by Vijay Mallya-led UB Group firms, regulator Sebi plans to choke fund-raising taps for 'wilful defaulters' while fund-raising norms are set to be made easier for start-ups as part of wide-ranging reforms in capital markets.The proposed mo...

5-fold hike in govt budget for funding start-ups

A five-fold hike has been made by the Government in its budget for funding start-ups in the next fiscal. Move is in line with Prime Minister Narendra Modi's ambitious 'Start-Up India' initiative. According to Ashutosh Sharma, Secretary, Department of Science and Technology...

Euro soars, stocks fall as ECB announces economic stimulus measures

European stock markets have fallen and the euro has soared following the economic stimulus measures announced by the European Central Bank. After initially rising following the broader than expected package, Frankfurt closed down 2.3 per cent, Paris ended 1.7 per cent lower and the FTSE 100 slid 1.8...

India best among EMs; health of PSBs, corporates a worry: IMF

IMF conference in National Capital

The Centre and the International Monetary Fund (IMF) are organising a three-day conference on the theme of 'Advancing Asia: Investing for the Future' starting in New Delhi from today. Prime Minister Narendra Modi will deliver the keynote address in the opening session of the confer...

Strategy prepared by Centre to reduce dependency on crude oil import: Pradhan

Sensex drops nearly 200 points in afternoon trade

The stock markets have been weak so far today. So after a subdued opening, the Sensex at the Bombay Stock Exchange lost more ground, and had declined 180 points, to 24,614 a short while ago. The Sensex had surged almost 1,800 points in the previous six trading sessions. Similarly, the Nifty at the N...

New Zealand cuts lending rates for fifth time since June

In a surprise move, the Reserve Bank of New Zealand has cut its lending rates for the fifth time since June last year to a record low of 2.25 per cent. The bank said the 25 basis point cut was due to global growth worries and weaker demand from China, an important trade partner. New Zealand is the w...

New Zealand cuts lending rates for fifth time since June

In a surprise move, the Reserve Bank of New Zealand has cut its lending rates for the fifth time since June last year to a record low of 2.25 per cent. The bank said the 25 basis point cut was due to global growth worries and weaker demand from China, an important trade partner. New Zealand is the w...