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Business News Updates

Rupee edges up by five paise vs dollar
Rupee edges up by five paise vs dollar

Mumbai: The Indian rupee inched up by five paise to 44.96 against the US dollar in morning trade on persistent selling of the American currency by banks and exporters. At the Interbank Foreign Exchange, the domestic currency moved in a narrow range between 44.96 and 45.00 per dollar in morning deals before quoting at 44.97/98 […]

FM withdraws proposal for service tax on healthcare
FM withdraws proposal for service tax on healthcare

New Delhi: Bowing to demand from all quarters, Finance Minister Pranab Mukherjee on Tuesday announced withdrawal of the proposed 5 per cent service tax on airconditioned hospitals with more than 25 beds and on diagonistic services. He also provided some relief to readymade garment manufacturers by raising the abatement available for levy of taxes on […]

Rupee gains 3 paise against US dollar in early trade
Rupee gains 3 paise against US dollar in early trade

Mumbai: The Indian rupee strengthened by 3 paise to Rs 44.98 per dollar at the Interbank Foreign Exchange on Tuesday, supported by a higher opening in the stock market and dollar weakness against other currencies. The rupee had appreciated by 12 paise to close at over a week`s high of Rs 45.01/02 against the US […]

Sensex opens 100 points higher on fresh buying
Sensex opens 100 points higher on fresh buying

Mumbai: The Bombay Stock Exchange benchmark Sensex recovered by over 100 points in opening trade on Tuesday after three straight days of losses, in tandem with a firming trend on other Asian bourses. The 30-share barometer, which lost over 520 points in the previous three sessions, rose by 100.78 points, or 0.56 per cent, to […]

World markets rise as Japan nuclear crisis eases
World markets rise as Japan nuclear crisis eases

Bangkok: World markets were higher on Monday, buoyed by news over the weekend that Japan was making progress in its battle to control radiation leaks at a nuclear complex that was severely damaged in the country’s worst-ever earthquake. Oil prices, meanwhile, jumped to near $103 a barrel after Libyan leader Muammar Qadhafi vowed a “long […]

Cairn-Vedanta deal: Finance Ministry for legal opinion on ONGCs claims
Cairn-Vedanta deal: Finance Ministry for legal opinion on ONGCs claims

New Delhi: The finance ministry wants a legal opinion from the law ministry to be taken on royalty state-owned ONGC pays on behalf of Cairn India before Cabinet considers giving nod to Vedanta Resources’ USD 9.6 billion acquisition of Cairn India. Oil and Natural Gas Corp (ONGC) owns 30 per cent in Cairn India’s mainstay […]

Rupee up 11 paise against US dollar in early trade
Rupee up 11 paise against US dollar in early trade

Mumbai: The Indian rupee strengthened by 11 paise to Rs 45.02 per dollar in early trade at the Interbank Foreign Exchange on Monday, supported by a higher opening in the stock market and dollar weakness against other currencies. The rupee had appreciated by 5 paise to close at Rs 45.13/14 per dollar in the previous […]

BSE sensex opens 129 points higher in early trade
BSE sensex opens 129 points higher in early trade

Mumbai: The Bombay Stock Exchange benchmark Sensex opened nearly 129 points higher on Monday on emergence of buying in fundamentally strong shares at lower levels, driven by a firming trend on other Asian bourses. However, a spike in global oil prices after Western forces launched air strikes on Libyan targets capped the gains. The 30-share […]

Brazil on equal economic footing with India, China
Brazil on equal economic footing with India, China

Washington: President Barack Obama said the US should treat Brazil as an economic power at par with two Asian giants India and China.   "It`s time for the United States to treat our engagement with Brazil on economic issues as seriously as we do with nations like China and India," Obama said in his address […]

IBA working on roll out of online transmission of BRCs: DGFT
IBA working on roll out of online transmission of BRCs: DGFT

Ahmedabad: The Indian Banks Association (IBA) is trying to develop a mechanism for online transmission of bank realisation certificates (BRC) through the banking channel, Director General Foreign Trade (DGFT) said on Saturday. The move is expected to speed up the realisation of incentives to exporters under notified schemes and help them discharge their export obligations […]

Silver advances, gold edges up on global cues
Silver advances, gold edges up on global cues

Mumbai: Silver prices firmed up further at the bullion market here on Saturday following sustained buying by speculators, robust industrial demand and firmness in global markets. Gold also edged up on stray local buying. In the global market, precious metals advanced due to uncertainty about Libyan cease-fire. In the domestic market, Silver ready (.999 fineness) […]

Tata to hike car price from April
Tata to hike car price from April

New Delhi: Tata Motors on Friday said it will hike prices of its passenger vehicles by up to Rs 36,000 from April 1, while rivals Maruti Suzuki India and Hyundai are also mulling a similar move in order to offset rising input costs. The companies said they are facing intense pressure on their margins and […]

Rabi onion harvesting begins, output to touch 8 mn tonnes
Rabi onion harvesting begins, output to touch 8 mn tonnes

New Delhi: The farmers have started harvesting the rabi onion crop in major producing states of Maharashtra, Gujarat and others amid hopes of high yield, government research body NHRDF said on Friday. "As of now crop condition is very good and harvesting has commenced in major growing states," a senior official with Nasik-based National Horticulture […]

Telemarketing calls may nag people for some more time
Telemarketing calls may nag people for some more time

New Delhi: Pesky calls from telemarketers may continue to nag customers for some more time as the telecom regulator TRAI is likely to extend its March 21 deadline again. "We have not received the landline number series yet from the Department of Telecom (DoT). Unless that is given, it will be difficult for telemarketers to […]

CAG pulls up Sebi, Irda for retaining surplus fund
CAG pulls up Sebi, Irda for retaining surplus fund

New Delhi: Government auditor CAG has rapped five regulators, including Sebi, Irda and PNGRB, for keeping their surplus funds worth over Rs 2,142 crore collected through fee and penalty outside the government accounts. The Comptroller and Auditor General (CAG) in its report has pulled up Securities and Exchange Board of India (Sebi), Insurance regulatory and […]

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