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Business

Falling rupee a big concern; Centre trying to resolve situation: FM

New Delhi : Finance Minister Pranab Mukherjee has said, the steep fall in the rupee was a matter of great concern and the Centre was trying to resolve the situation. Addressing the media in Kolkata today, he said, this situation is due to the Eurozone crisis. Mr. Mukherjee said, there is also currency crisis in […]

Business

M-cap of seven cos down by Rs 27,649 cr; CIL takes biggest hit

Mumbai : Amid a weak stock market, seven of top 10 Sensex companies lost Rs 27,649 crore in their combined market valuations with Coal India taking the biggest hit of Rs 7,138 crore last week. State-owned CIL’s market capitalisation (m-cap) dropped by Rs 7,138 crore to Rs 1,91,480 crore last week. CIL had on Friday […]

Business

Falling rupee a concern; Centre not sitting idle: Pranab

New Delhi : Finance Minister Pranab Mukherjee on Sunday said the steep fall in the rupee was a matter of great concern and the Centre was trying to resolve the situation. “It is a matter of great concern. We are watching the situation. The Centre is not (sitting) idle. We are trying to resolve (the […]

Business

American firm to supply to space station

US : An American firm is to become the first private company to send a supply craft to the international space station. An unmanned capsule made by SpaceX company will be launched from Cape Canaveral in Florida carrying half a tonne of food and equipment to the station. It will be the first time the […]

Business

Coming soon: Task force on India-UAE investments

New Delhi : India and the United Arab Emirates have decided to set up a high-level joint task force on investment which will also look into securing more oil supplies from UAE. Managing Director of the Abu Dhabi Investment Authority Sheikh Hamad bin Zayed al Nahyan and India’s Commerce and Industries Minister Anand Sharma will […]

Banking

RBI lays draft guidelines to permit non-banks to set up ATMs

Mumbai : To increase the outreach of banking facilities to smaller centres and establishment of Automated Teller Machines (ATMs) in such centres, Reserve Bank of India has issued draft guidelines to permit non-banks to set up ATMs in such centres. Minister of State for Finance Namo Narain Meena in a written reply in the Lok […]

Banking

SBI posts nearly 200-time increase in profit for Jan-March period

Mumbai : Country’s largest bank State Bank of India, SBI, today posted nearly 200-time increase in profit at over 4,000 crore rupees for January-March period. This is the highest ever in its history and is on the back of a sharp fall in provisioning for bad loans. Terming its performance as “blockbuster” State Bank of […]

Markets

European stocks slump, euro hits four-month dollar low

Europe’s main stock markets tumbled and the euro hit a new four-month dollar low as worries spiked over the eurozone debt crisis that is plaguing Greece and now circling Spain. In afternoon deals, London’s benchmark FTSE 100 index dropped 0.92 per cent to 5,355.57 points and Frankfurt’s DAX 30 slid 0.45 per cent to 6,355.84 […]

Business

Moody’s downgrades 16 Spanish bank

Moody’s has cut the debt ratings of 16 Spanish banks by one to three notches, citing the effects of the ongoing recession and the Spanish government’s own reduced creditworthiness. The leading bank, Santander, and the number two BBVA, were both hit with three-notch downgrades from Aa3 previously to A3, which for Moody’s is a upper-medium […]

Markets

Oil slides on deepening fears over eurozone

Mumbai : Oil extended losses in Asian trade on Friday on growing concerns that the eurozone’s debt woes could worsen, causing a global crisis that would ravage energy demand, analysts said. New York’s main contract, West Texas Intermediate (WTI) crude for delivery in June, was down eight cents to USD 92.48 per barrel while Brent […]