Thursday, March 29, 2012

Brace for 3 bank holidays next week

Brace for 3 bank holidays next week

Brace for 3 bank holidays next week

Posted: 29 Mar 2012 02:34 PM PDT

Banks across the country will be closed on three days next week — April 2 (yearly closing), April 5 (Mahavir Jayanti) and April 6 (Good Friday). Netbanking and ATM operations will continue, so basic banking operations will not be interrupted, bank officials said.

BRICS agrees to development bank, currency pact

Posted: 29 Mar 2012 01:52 PM PDT

BRICS nations on Thursday decided to examine the viability of a development bank for developing countries, besides agreeing to make life a little simpler for those trading within the grouping by settling transactions in local currency.

'Vodafone tax law unbelievable'

Posted: 29 Mar 2012 12:43 PM PDT

Lloyd Blankfein, CEO of Goldman Sachs, the world's largest investment bank, on Thursday said it was "unbelievable" that India could introduce a tax law with retrospective effect.

New panel for ‘reliable’ inflation, IIP data

Posted: 29 Mar 2012 12:31 PM PDT

Under fire over data integrity issues, the government has tasked a panel to revise the wholesale price index (WPI) with the mandate to "enhance the reliability" of official statistics on all inflation measures.

Govt plans to bail out power distribution companies

Posted: 29 Mar 2012 12:23 PM PDT

The government is examining the option of a financial bailout for power distribution companies, even as it yet again misses the planned target for ramping up generation capacity by over 8,000 MW as the 11th Five Year Plan draws to a close.

IVRCL stock jumps 8% on takeover talk

Posted: 29 Mar 2012 12:10 PM PDT

On the back of media mogul Subhash Chandra's Essel Group increasing its stake in Hyderabad-based infrastructure company IVRCL to over 10% through market operations, the company's stock jumped nearly 8% in Thursday's weak market to Rs 65 on BSE.

PM assured no retrospective taxation

Posted: 29 Mar 2012 11:57 AM PDT

Finance minister Pranab Mukherjee's move to amend the law retrospectively to get merger and acquisition deals such as the Hutch-Vodafone transaction in the tax net may cause embarrassment to the government, especially after Prime Minister Manmohan Singh's assurance to Gordon Brown in 2010, the then British Prime Minister.

Rupee posts biggest fall in three months

Posted: 29 Mar 2012 06:50 AM PDT

The rupee ended at 51.39/40 to the dollar, 1.2 percent weaker than Wednesday's close of 50.775/785, its sharpest drop in a single session since December 12.

Sensex closes down 63 points

Posted: 29 Mar 2012 05:13 AM PDT

BSE benchmark Sensex on Thursday closed lower by just 63 points amid this month's settlement in the derivatives segment and a weak trend in global markets.

Russia, India to trade in local currencies in 3 years

Posted: 28 Mar 2012 11:21 PM PDT

Moscow and New Delhi will switch to trading in domestic currencies in three years, the chairman of Russia's largest state development bank said on Thursday.

Rupee down 39 paise against dollar

Posted: 28 Mar 2012 09:56 PM PDT

The rupee today fell by 39 paise to 51.17 against dollar on the Interbank Foreign Exchange market in early trade following strong month-end demand for the US currency from importers.

Sensex down 169 pts on selling pressure

Posted: 28 Mar 2012 09:22 PM PDT

The BSE benchmark Sensex dipped below the 17,000 level by losing over 169 points in early trade today on sustained selling by funds amid a weak trend on other Asian bourses.

Stake sale talk as Mallya struggles

Posted: 28 Mar 2012 05:27 PM PDT

Diageo is a long-rumoured potential ally in Mallya's United Spirits, while Heineken is an equal shareholder in his beer company United Breweries (UB).
Posted by Harshad at 9:46 PM

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