Indian economy may grow 6% in 2013: Kaushik Basu

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• Indian economy may grow 6% in 2013: Kaushik Basu
• Direct tax collection up 8% in April-December
• Cairn, RIL can drill more in producing fields
• Recast corporate governance rules: Sebi
• US job growth cools slightly, recovery grinds on
• Gold recovers from 4-month low after US data
• Sensex edges up to 2-year high
• Re plummets 57 paise, biggest drop in 2 months
• Rupee down for second day
• Sensex up 19 points; refinery stocks gain
• Sensex sluggish, down 53 points
• Oldest Swiss bank Wegelin to close after guilty plea

Indian economy may grow 6% in 2013: Kaushik Basu Posted: 04 Jan 2013 11:45 AM PST India's economy could expand by around 6% in 2013, World Bank chief economist Kaushik Basu said on Friday, attributing the current slowdown to global factors.

Direct tax collection up 8% in April-December Posted: 04 Jan 2013 11:44 AM PST The revenue collection continues to grow at snail's pace with the April-December 2012 direct tax mop up showing a meagre growth of 8%.

Cairn, RIL can drill more in producing fields Posted: 04 Jan 2013 11:24 AM PST The oil ministry has granted conditional nod to private sector explorers Cairn India and Reliance Industries (RIL) to conduct additional exploration in their producing fields at their own financial risk.

Recast corporate governance rules: Sebi Posted: 04 Jan 2013 10:46 AM PST Market regulator Sebi on Friday released a consultative paper on corporate governance which proposes splitting of the post of chairman-cum-managing director, giving greater responsibilities and powers to independent directors.

US job growth cools slightly, recovery grinds on Posted: 04 Jan 2013 08:13 AM PST US employers kept their pace of hiring virtually steady in December, falling short of the levels needed to bring down the country's lofty unemployment rate and pointing to lackluster economic growth in 2013.

Gold recovers from 4-month low after US data Posted: 04 Jan 2013 05:59 AM PST Gold prices pared losses on Friday, lifting off an earlier 4-1/2 month low, after data showed the pace of hiring by US employers eased slightly in December while the unemployment rate crept up.

Sensex edges up to 2-year high Posted: 04 Jan 2013 05:53 AM PST The BSE Sensex edged higher on Friday to touch two-year high, posting its strongest weekly performance since the end of November, as oil companies such as ONGC rose on hopes a proposed change in the government's pricing formula would boost gas prices.

Re plummets 57 paise, biggest drop in 2 months Posted: 04 Jan 2013 04:00 AM PST The rupee today recorded its biggest slump in two months by plunging 57 paise to end at 55.07 on massive demand of the US currency from oil firms.

Rupee down for second day Posted: 04 Jan 2013 04:00 AM PST The Indian rupee weakened for a second session on Friday on the back of dollar demand from oil and defence firms as well as other companies while the global risk-off mood also prompted short-covering of dollar positions.

Sensex up 19 points; refinery stocks gain Posted: 04 Jan 2013 03:28 AM PST The BSE benchmark sensex today ended 19 points up on fag-end buying in refinery stocks triggered by expectations of hike in diesel prices.

Sensex sluggish, down 53 points Posted: 03 Jan 2013 10:20 PM PST The stock market remained sluggish in the morning trade, with the sensex down 53.03 points on profit-booking in metals, realty, FMCG, auto and banking sectors, amid weak markets in the Asian region.

Oldest Swiss bank Wegelin to close after guilty plea Posted: 03 Jan 2013 09:55 PM PST Wegelin & Co, the oldest Swiss private bank, said on Thursday it would shut its doors permanently after more than 2 1/2 centuries

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