Sunday, July 22, 2012

Rupee falls as stocks, regional FX slumps

Rupee falls as stocks, regional FX slumps

Rupee falls as stocks, regional FX slumps

Posted: 22 Jul 2012 08:51 PM PDT

The Indian rupee fell to an over one-week low on Monday, tracking weaker regional currencies and stocks, as the euro slumped to lows against major currencies undermined by worries that Spain may need a full-fledged bailout.

Fresh hurdle hits reforms in retail

Posted: 22 Jul 2012 05:47 PM PDT

The UPA government's efforts to open up the multi-brand retail sector to foreign companies such as Wal-Mart faced a fresh roadblock on Sunday as Samajwadi Party chief Mulayam Singh Yadav and top Left leaders shot off a letter to Prime Minister Manmohan Singh, urging him not to proceed with opening up of the sector as there was no wide-ranging consensus on the issue.

Finance ministry starts probe into HSBC operations

Posted: 22 Jul 2012 02:35 PM PDT

The Financial Intelligence Unit, an enforcement agency, is empowered to undertake investigations under the provisions of the Prevention of Money Laundering Act (PMLA).

Global rich hold $32 trillion in tax havens: Study

Posted: 22 Jul 2012 02:32 PM PDT

The report suggests that for many developing countries, the cumulative value of the capital that has flowed out of their economies since the 1970s would be more than enough to pay off their debts to the rest of the world.

India Inc rewards staff to tide over slowdown

Posted: 22 Jul 2012 02:17 PM PDT

The general sentiment at an organization during a downturn can be draining with discussions surrounding cost control and return on investments.

Companies Q1 net falls 8% since Q4

Posted: 22 Jul 2012 02:11 PM PDT

Initial results by India Inc during the April-June quarter paint a poor picture about the current health of the corporate sector.

German minister: Greek euro exit has lost 'horror'

Posted: 22 Jul 2012 10:02 AM PDT

Philipp Roesler has questioned whether Greece can fulfill the conditions to receive further international aid and said the idea of it leaving the euro has "lost its horror".

Murdoch quits boards of British papers

Posted: 22 Jul 2012 09:12 AM PDT

News Corp's Rupert Murdoch has stepped down from a string of boards overseeing the Sun, Times and Sunday Times newspapers in Britain.

Eurozone crisis saves Germany billions

Posted: 22 Jul 2012 12:57 AM PDT

While other countries in 17-country group that use the euro have battled against investor fears that their economies are buckling under the pressure of too much debt, Germany has managed to save tens of billions of euros thanks to its reputation as a safe place for investments.

Vedanta writes to PM for oil exploration in Rajasthan

Posted: 21 Jul 2012 10:27 PM PDT

Vedanta Resources chairman Anil Agarwal has sought Prime Minister Manmohan Singh's intervention so that his group firm Cairn India is allowed to explore oil in the prolific Rajasthan block.

Indian growth pace slowest in 10 yrs: Poll

Posted: 21 Jul 2012 10:08 PM PDT

India's economy will grow at its slowest pace in a decade this fiscal year, with tight monetary policy, political gridlock and a weakening global economy prompting analysts to slash their forecasts, a Reuters poll showed.

Toyota to begin production at Bangalore plant in Aug

Posted: 21 Jul 2012 10:06 PM PDT

Japanese auto major Toyota would begin engine production from its manufacturing facility in Bangalore next month, according to a top company official.

Major crop output to fall by 0.5% in 2012-13: CMIE

Posted: 21 Jul 2012 10:02 PM PDT

Even though the overall agriculture sector is expected to do well in 2012-13, major crop production is projected to fall by 0.5 per cent, economic think tank CMIE has said.
Posted by Harshad at 9:13 PM

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