Prime Minister Manmohan Singh is understood to have considered fresh measures with his key Cabinet ministers and the RBI Governor to limit the impact of the global financial crisis on the Indian economy.
The proposals, including fiscal and monetary support to exporters facing demand crunch in the developed world, were considered by a committee chaired by […]
Fidelity Investments, the world’s biggest mutual fund company, told employees on Friday it will cut a further 1,700 jobs on top of 1,300 already announced.Boston-based Fidelity had laid off 1,300 people on Wednesday in a first round of cuts. With these two rounds, the company is shedding about 7 percent of its staff.
The second round […]
ONGC Videsh Ltd and its partner IRP Red Sea Ince have made a second oil discovery in an offshore block in Egypt.
The discovery was made off the North Ramadan […]
With the Indian index for industrial production (IIP) growing 4.8 percent in September compared to a rise of only 1.3 percent in the previous month, analysts said Indian equities tried to bounce back Wednesday but bears still prevailed and a key index shed more than 300 points.’The better industrial production figures brought some cheers but […]
Despite daily losses of Rs.100-150 million ($2-3 million) being incurred by some Indian carriers due to the general economic downturn, global aerospace giants continue to make a strong pitch for a share in the country’s aviation pie, officially estimated at $300 billion by 2020, experts said.
“Much of the world is flat or declining. Only India […]
Union Finance Minister P Chidambaram on Sunday said he will ask the public sector banks to consider lowering lending rates to ease the liquidity crunch in the country.In an interview to a news agency, Chidambaram said that he would take up the issue of interest rate cut during a meeting with chairpersons of public sector […]
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Asia-Pacific stocks soared Monday after South Korea announced a package of more than $130 billion to stabilize the country’s financial sector.Japan’s benchmark Nikkei 225 Stock Average was up 3.59 percent at 9,005.59 while its broader Topix index of all first-section issues gained 3.7 percent to close at 927.37.
The market for Asia’s largest economy was also […]
The Bombay Stock Exchange benchmark Sensex gained 215 points in early trade on Tuesday on massive buying by funds as well as retail investors, triggered by RBI’s move to cut short-term lending rate, Repo, by 100 basis points with immediate effect amid strong global cues.
The 30-share index, which closed higher by 247.74 points on Monday, […]
Indian equities markets opened strong Monday, went sharply upwards and despite a late afternoon slide still closed in the green on a rate cut by India’s central bank, the Reserve bank of India.
The positive finish Monday came after three successive days of losses last week that had seen a key index dip to the four-digit […]