Wednesday, January 2, 2013

Re falls by 10paise against dollar

Re falls by 10paise against dollar

Re falls by 10paise against dollar

Posted: 02 Jan 2013 08:31 PM PST

The rupee depreciated by 10 paise to 54.45 against the US dollar in early trade today on the Interbank Foreign Exchange due to appreciation of the American currency against the euro and other currencies in overseas markets.

Sensex gains 27pts in early trade

Posted: 02 Jan 2013 08:13 PM PST

The BSE benchmark sensex rose for the third straight day by adding over 27 points in early trade today on sustained buying by funds amid a firm trend in the Asian region.

US avoids fiscal cliff, global rally

Posted: 02 Jan 2013 11:46 AM PST

The United States dodged an economic bullet on Tuesday by passing legislation – literally at the 13th hour – to avoid the across-the-board tax increases and government spending cuts that would have taken effect had the country gone over the so-called fiscal cliff in the New Year.

ArcelorMittal to sell stake in iron ore company

Posted: 02 Jan 2013 11:04 AM PST

ArcelorMittal, the world's biggest steelmaker, will sell a $1.1 billion stake in a Canadian iron ore mine operator to a consortium that includes South Korean steelmaker Posco and Taiwan-listed China Steel Corp, China Steel said in a statement.

Lexus defers India debut to beyond 2013

Posted: 02 Jan 2013 10:51 AM PST

It may be the slowdown blues, or just the wrong timing. But whatever it is, Lexus — the luxury brand of Japanese auto giant Toyota — has decided to defer its India entry. Against its earlier plan to enter the Indian market by 2013, the brand has decided to put off its India debut.

Tata group to invest over Rs 45k cr in 2 yrs: Mistry

Posted: 02 Jan 2013 10:49 AM PST

The Tata group will invest more than Rs 45,000 crore on various businesses over next two years and would look to expand its presence in global markets besides in India, the group's new chief Cyrus P Mistry on Wednesday said.

Sahara moves SC for stay on direction to pay

Posted: 02 Jan 2013 10:44 AM PST

Two Sahara companies on Wednesday moved the Supreme Court seeking stay on the direction to pay up around Rs 19,000 crore to Sebi, saying the Rs 5,120 crore they had deposited with the market regulator was in excess of the amount needed to secure the investors.

P Chidambaram hints at making gold costlier

Posted: 02 Jan 2013 10:37 AM PST

Worried over high gold imports, the government on Wednesday hinted at the possibility of making purchases dearer even as it is considers new instruments like gold deposit schemes and bonds to wean households away from the yellow metal.

Tata Group to invest more than $8bn in over 2 yrs

Posted: 02 Jan 2013 08:15 AM PST

India's salt-to-software conglomerate Tata Group plans to invest more than 450 billion rupees ($8.2 billion) over the next two years, its newly appointed Chairman Cyrus Mistry wrote in an internal mail on Wednesday.

Urjit Patel appointed as RBI deputy governor

Posted: 02 Jan 2013 05:47 AM PST

Renowned economist Urjit Patel's name has been cleared for appointment as the new deputy governor of the Reserve Bank of India (RBI), said a senior finance ministry official.

Over 55% malls are vacant in Delhi-NCR: Survey

Posted: 02 Jan 2013 05:38 AM PST

Over 55% of the malls in Delhi-NCR region are vacant partly due to economic slowdown, poor designing, lack of robust revenue generation model and located in unattracted location, reveals a recent survey.

US dollar declines against rupee

Posted: 02 Jan 2013 05:02 AM PST

The US dollar declined against the rupee at 54.35/36 per dollar and the Pound Sterling also finished lower at Rs 88.65/67, at the close of the Interbank Foreign Exchange Market (Forex) on Wednesday.

Employment at India’s major ports drops: Assocham

Posted: 02 Jan 2013 04:22 AM PST

The number of employees at India's major ports has declined at a compounded annual growth rate (CAGR) of about five per cent between 2001-2010, apex industry body Assocham said today.

US stocks surge on fiscal deal

Posted: 02 Jan 2013 03:49 AM PST

US stock index futures pointed to a higher open on Wall Street today after lawmakers passed a bill preventing huge tax hikes and spending cuts that had threatened to push the economy into recession.

Jet front-runner for Etihad investment: Govt source

Posted: 02 Jan 2013 03:11 AM PST

Jet Airways Ltd is the front-runner for an investment by Gulf carrier Etihad Airways, a senior government source told reporters on Wednesday, adding a deal was likely in 10 days.

Panel recommends average global prices for domestic gas

Posted: 02 Jan 2013 02:19 AM PST

The Prime Minister-appointed Rangarajan Committee has suggested mandating a price of domestically produced natural gas at an average of international hub prices and cost of imported LNG instead of present mechanism of market discovery.

Re trims initial gains, still up 18paise

Posted: 01 Jan 2013 11:02 PM PST

The Rupee failed to maintain initial gains, but was still quoted higher by 18 paise to 54.50 per dollar on bouts of buying and selling transactions from banks and exporters.

Y V Reddy to head 14th finance commission

Posted: 01 Jan 2013 10:14 PM PST

Former RBI governor Y V Reddy will be the chairman of 14th finance commission, finance minister P Chidambaram said today.

Oil prices rise as US lawmakers avert 'fiscal cliff'

Posted: 01 Jan 2013 09:04 PM PST

Oil prices rose sharply Wednesday after US lawmakers passed legislation to avoid a "fiscal cliff'' that would have push the world's biggest economy into recession.
Posted by Harshad at 9:12 PM

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