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Business

Jet fuel ATF to cost more

Mumbai : Jet fuel – ATF – is to cost more. State-owned oil firms have decided to hike Aviation Turbine Fuel – ATF – price by about 3 per cent. This will come in to force from midnight tonight.

Business

Govt may withdraw excise duty on non-branded jewellery

Mumbai : Finance Minister Pranab Mukherjee has said the Centre was considering the demand made from different quarters to withdraw excise duty on non-branded jewellery. On his arrival in Kolkata on Friday, Mukherjee was responding to media queries on whether the Centre is considering withdrawal of excise duty on unbranded jewellery in view of demands […]

Business

Air India restructure plan gets banks’ nod

New Delhi : In a big boost to its precarious financial position, Air India’s Financial Restructuring Plan (FRP) has been approved by a consortium of banks. This may enable the ailing carrier save several hundred crores of rupee in the first year itself. According to airline officials, as part of the FRP, Air India signed […]

Stock & Share

Sensex shoots up 346 pts as govt clears air on P-note tax

Mumbai : Snapping two-day fall, the BSE benchmark Sensex shot up 346 points on Friday as the government clarified that P-Note holders have no tax liability in India, and global markets showed firm trend. The Sensex, which had lost 200 points in the last two sessions, bounced back 345.59 points or 2.03 per cent to […]

Business

P-Notes holders not liable to pay tax in India: Pranab

New Delhi : Finance Minister Pranab Mukherjee today said that persons investing in stock markets through participatory notes, P-Notes, will not have to pay taxes in India. The assurance pushed up the stock market today. He told reporters in New Delhi that the Minister said, the income tax department would examine the tax liability of […]

Banking

SBI extends its business hours for tomorrow

Mumbai : State Bank of India has extended its business hours for tomorrow. All the branches of the Bank will remain open up to 5 pm for business transactions. SBI has requested the customers to complete their banking transactions well in time. Extra time has been granted as all branches of bank will remain close […]

Stock & Share

Sensex snaps 2-day losing streak, up 195 pts in early trade

Mumbai : The BSE benchmark Sensex snapped 2-day losing streak by recovering 195 points in the late morning trade on fresh buying by investors. Realty, banking, metals, consumer durables and PSU stocks attracted strong buying. The 30-share index resumed higher at 17,117.41 and hovered in a range of 17,266.88 and 17,105.22 before quoting at 17,253.47 […]

Currency

Rupee gains 23 paise vs dollar in early trade

Mumbai : The rupee appreciated by 23 paise to 51.17 against the US dollar in early trade on Friday on the Interbank Foreign Exchange market as the American currency fell against the euro and other currencies overseas. Besides gains in euro and other currencies against the US dollar, a higher opening in the equity market […]

Markets

Eight core industries grow up to 6.8 per cent in Feb 2012

Mumbai : Growth in the country’s eight core industries picked up to 6.8 per cent in February 2012, against 6.4 per cent growth in February last year, on account of healthy growth in coal, electricity and cement production. The infrastructure industries had grown by just 0.5 per cent in January 2012. Electricity output grew 8 […]

Markets

Asian markets down for 2nd day

Mumbai : Asian markets fell for a second day on Thursday, on concern that China’s economic slowdown is weighing on company earnings, and after orders placed with U.S. factories for durable goods rose less than estimated. So Japan’s Nikkei 225 index lost 0.7%; Hong Kong’s Hang Seng index fell 1.3%; China’s Shanghai Composite index shed […]