Business News Updates

Mumbai: The rupee opened on a weak note and declined 12 paise to 69.48 against the US dollar in opening trade Wednesday, amid simmering geopolitical tensions in the Middle East and higher crude oil prices. The rupee opened weak at 69.40 at the interbank forex market and then fell further to 69.48, down 12 paise […]

The State-owned Bharat Sanchar Nigam Ltd (BSNL) is facing rough weather with reports suggesting that the company might face difficulties in paying salaries to its employees for the month of June because of financial crunch. To help out the operator in this troubled times, the government has requested banks to provide a loan of Rs […]

Kolkata: State-run UCO Bank, which is focusing on increasing retail, agriculture and Micro, Small and Medium Enterprises (MSME) business, is aiming at Rs 8,000 crore recovery from the non-performing asset (NPA) accounts during the current fiscal, an official said on Wednesday. “We set a target of at least Rs 2,000 crore of recovery per quarter […]

New Delhi: The G-20 governments have more than doubled the financial support they provide to coal power plants in just three years, despite pledging a decade ago to phase out subsidies to all fossil fuels, an independent study said on Wednesday. India’s public banks invest Rs 79,800 crore per year in the coal sector, said […]

San Francisco: The current dominance in online commerce enjoyed by Amazon could be endangered if Instagram, with its one billion users worldwide, pushes ahead with its plans to enter that space, as its new chief, Adam Mosseri, has said he intends to do. In his first public interview on the company’s future strategy since taking […]

Mumbai: Taking a cue from global markets, the key Indian equity market indices on Thursday opened higher. The Sensitive Index (Sensex) of the BSE, which had closed at 39,592.08 points on Wednesday, opened higher at 39,633.97 points. Minutes into trading, it was quoting at 39,660.66 points, up by 68.58 points, or 0.17 per cent. At […]

New Delhi: The Federation of All India Farmer Associations (FAIFA) has urged Finance Minister Nirmala Sitharaman to correct an error in cigarette taxation under the new tax regime, which did not account for the cascading effect on excise duty that existed in the pre-GST system. FAIFA is a non-profit organisation that represents the cause of […]

New Delhi: Gold prices Thursday rose by Rs 180 to Rs 34,350 per 10 gram in the bullion market here on fresh buying from local jewellers despite the precious metal losing steam overseas, according to the All India Sarafa Association. Globally, gold was trading lower at USD 1,403.72 an ounce, while silver was quoting lower […]

New Delhi: The Commerce Ministry on Thursday formed an 18-member working group under the chairmanship of Ramesh Chand, member, Niti Aayog, for revision of the current series of the Wholesale Price Index (WPI). The base year for the current series is 2011-12 and since then significant structural changes have taken place in the economy, which […]

Mumbai: The RBI on Thursday said PSU banks’ gross non-performing asset (GNPA) ratio may decline from 9.3 per cent in March, 2019 to 9.0 per cent in March, 2020, hinting at the reversal of the NPA cycle gripping the state lenders. Underlining the strength of the banking sector while covering for the bad loans, it […]

Mumbai: Sensex and Nifty traded on a flat note during the morning trade on Friday. Investors continued to be cautious as the G20 summit, where the US and China will discuss trade relations, will begin in Osaka, Japan on Friday. At 9.38 a.m., the Sensex was down 0.03 per cent or 13.04 points to 39,573.37 […]

Bhubaneswar: Notwithstanding the State Government going gaga over 8.3 per cent growth in agriculture and allied sector in 2018-19, a reality check illustrates a grim scenario at hand for the  crop and milk farmers in Odisha. A detailed analysis of the Eco-Survey brings to fore the devil. As per the Eco-Survey 18-19, the Gross Value […]

New Delhi: Investment bankers SBI Capital Markets, IDBI Capital Markets, ICICI Securities, ITI Capital and Yes Securities have been shortlisted to be considered for appointment as merchant bankers for the proposed IPO for RailTel and their financial bids will be opened on July 3 for final selection. These financial markets firms will be making presentations […]

Bhubaneswar: In presenting a rosy picture of the State’s economy during the last fiscal, the Economic Survey 2018-19 had claimed that the State has moved up the ladder in the per capita income from bottom(25th) in 1996-97 to 16th in 2016-17. And the Survey went on to add that Odisha’s stride is better than Chhattisgarh, […]

Bhubaneswar: It seems surfeit of schemes has taken a toll on the State finances. The biggest fallout noticed in the annual budget 2019-20 presented by new Finance Minister Niranjan Pujari today points to a big dip in revenue surplus . And at the  same time the fiscal deficit has increased, so too is the primary […]