Business News

RBI okays Air India's debt restructuring plan

Mumbai, Jan 8: The Reserve Bank has approved debt-ridden national carrier Air India's financial restructuring plan, which would enable banks to amortise their provisional losses over 29 quarters, a senior Air India official said here. "This should help banks to

Gold snaps 4-day rally, down Rs 145; silver shed Rs 600

New Delhi, Jan 7: Snapping a four-day gaining streak, gold prices fell by Rs 145 to Rs 28,120 per 10 grams in the national capital today on stockists selling at existing higher levels amid a weak trend in overseas markets.Silver also moved

US economy moving in the right direction: Obama

Washington, Jan 7: Encouraged by the addition of more than 2 lakh new jobs last month and a drop in the unemployment rate, the US President Barack Obama on Friday said the country's economy is moving in the right direction."... We learned

Fiscal deficit may more than what was projected: Pranab

Chennai, Jan 6: Finance Minister Pranab Mukherjee today said the fiscal deficit for 2011-12 could be more than the projected figure.Observing that India’s fiscal deficit rose to 6.5 per cent in 2008-09 due to the global financial crisis, he said in 2009-10

Gold up by Rs 85 on firm global cues, silver ends flat

New Delhi, Jan 6: Continuing its rising trend for the fourth straight session, gold today rose by Rs 85 to Rs 28,265 per 10 grams, on sustained buying by stockists driven by a firming global trend. However, silver held steady at

Single brand FDI to be notified "soon":Govt

New Delhi, Jan 6: The government may soon notify 100 per cent foreign direct investment in single-brand retail, paving way for global chains like Adidas, Nike, Louis Vuitton, Hermes and Gucci to have full ownership of their India operations. "Soon",

Kingfisher is a non-performing Asset: SBI chief

New Delhi, Jan 5: State Bank of India (SBI), the cash-strapped Kingfisher Airlines' largest creditor, on Thursday called the Vijay Mallya-led air-carrier a non-performing asset."Kingfisher is a NPA (non-performing asset) for us. They are in default," SBI Chairman Pratip Chaudhuri told

Gold gains Rs 60 on global cues, silver sheds Rs 750

New Delhi, Jan 5: A divergent trend was seen in the bullion market here today as gold maintained its upward march for the third straight day by adding Rs 60, while silver declined by Rs 750.

Food inflation turns negative; drops to (-) 3.36 pc

New Delhi, Jan 5: Food inflation entered the negative zone at (-) 3.36 per cent for the week ended December 24 as prices of essential items like vegetables, onion, potato and wheat declined.“There has been substantial improvement. Food inflation has turned negative

Rupee up 6 paise against dollar in early trade

Mumbai, Jan 5: The rupee gained 6 paise to trade at Rs 52.89 against the dollar today on the Interbank Foreign Exchange as the US currency weakened in the overseas markets. Dealers said dollar selling by

Budget after March 9, says Pranab

New Delhi, Jan 4: The government will present the Union Budget for 2012-13 after March 9, Finance Minister Pranab Mukherjee said here on Wednesday."We are working on date. We will (present) the budget after (Assembly) election is over... The code of conduct

Visa fraud case ahead, Infosys strengthens team in US

Bangalore, Jan 3: One of the major Indian IT companies - Infosys Technologies soon will face a trial at an Alabama court in US over an alleged visa fraud case. The trial has been scheduled to be conducted on Aug 20,

Rupee up 17 paise vs dollar in early trade

Mumbai, Jan 3: The rupee appreciated by 17 paise to Rs 53.13 per dollar in early trade on the Interbank Foreign Exchange on Tuesday, Jan 3, as the US currency weakened against euro and other major currencies.

RBI governor hints at soft monetary policy

New Delhi, Jan 2: Concerned over the declining growth, Reserve Bank Governor D Subbarao has indicated that the central bank could reverse the tight monetary stance adopted by it since March 2010 to tame inflation. "From here on we could expect reversal

Rupee down by 17 paise against dollar in early trade

Mumbai, Jan 2: The rupee fell by 17 paise to Rs 53.27 per dollar in early trade on the Interbank Foreign Exchange today on increased demand for the US currency from importers. However, firm equity markets

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