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Home » Business India News You are browsing entries filed in “Business India News”

NDC approval for 12th Plan by September, says Montek

Planning Commission Deputy Chairman Montek Singh Ahluwalia on Saturday dismissed the criticism that the national planner is behind the curve in getting its work done, saying he is expecting the NDC approval for the 12th Plan by September. “I am sure of getting the National Development Council (NDC) approval for the 12th Plan by September, […]

June 10th, 2012 | Posted in Business India News | Read More »

Rajaratnam swindled, cheated me: Gupta told Ajit Jain in 2009

Former McKinsey head Rajat Gupta, upon losing $10 million in an investment fund, had told “close friend” Ajit Jain, chief of Berkshire Hathaway’s reinsurance business, he had been “swindled and cheated” by hedge fund founder Raj Rajaratnam. India-born Jain, seen as the successor to Berkshire Hathaway’s billionaire investor chief Warren Buffett, testified through video deposition […]

June 10th, 2012 | Posted in Business India News | Read More »

RBI’s KC Chakrabarty counters Gokarn on possibility of rate cut

MUMBAI: Reserve Bank of India Deputy Governor KC Chakrabarty on Friday said interest rates in India were not too high to impact growth, throwing cold water on hopes of central bank action to revive a sputtering economy. This comes only days after fellow Deputy GovernorSubir Gokarn raised expectations of a rate cut by saying moderate core inflation and softening global […]

June 8th, 2012 | Posted in Business India News | Read More »

S&P affirms reduced US credit rating, outlook still negative

WASHINGTON: The rating agency that downgraded the US government’s long-term credit last year has reiterated its assessment and its negative outlook. It says US political leaders aren’t addressing the federal debt burden.Standard & Poor’s said Friday that it’s keeping its rating of US long-term debt at “AA+.” It cut the rating in August after a […]

June 8th, 2012 | Posted in Business India News | Read More »

Sebi chief rings alarm bells on economy

In an uncharacteristically hard-hitting assessment of the policy gridlock, the country’s capital market regulator on Friday made a distress call to revive investor interest and check the slowdown. “There is an overall feeling of anger and rejection,” Securities and Exchange Board of India (SEBI) chairman UK Sinha said while delivering a speech at a financial […]

June 8th, 2012 | Posted in Business India News | Read More »

Government notifies concessions for Mangalore refinery

MANGALORE: With only a day left for theGlobal Investors Meet (GIM) 2012, the state government has sanctioned a special incentive package for the phase III expansion and upgradation project of the Mangalore Refinery and Petrochemicals Ltd (MRPL). Chief ministerDV Sadananda Gowda had hinted about the incentives in an interview given to TOI during his recent visit to […]

June 7th, 2012 | Posted in Business India News | Read More »

India prepares contingency plan for eurozone meltdown

India has prepared a contingency plan for Greece exiting the eurozone and even a collapse of the monetary union, Indian officials said on Tuesday. The euro zone debt crisis has already put a damper on India’s exports to Europe, the biggest destination for Indian goods, as well as capital inflows into equity and debt markets. […]

June 6th, 2012 | Posted in Business India News | Read More »

Gold rises as investors await ECB action


Gold firmed on Wednesday, rising in tandem with the euro and risky assets ahead of a European Central Bank policy meeting as investors watch for more action from policymakers to contain the euro zone debt crisis. The ECB is expected to indicate a readiness to cut interest rates as soon as next month but hold […]

June 6th, 2012 | Posted in Business India News | Read More »

Sensex rebounds on rate-cut hope

Falling crude oil prices have given a new lease of life to India’s stock markets, even as slowdown fears hit shares and commodities across the globe, and other Asian indices fell on Monday. The 30-share Bombay Stock Exchange Sensex and the broader S&P CNX Nifty of the National Stock Exchange staged a smart recovery, giving […]

June 5th, 2012 | Posted in Business India News | Read More »

Rupee advances 19 paise Vs dollar

Reversing its early losses, the rupee advanced by 19 paise to 55.35 against the US dollar due to selling of dollars by banks and corporates today. The local unit resumed lower at 55.58 per dollar as against the last weekend’s level of 55.54 at the Interbank Foreign Exchange (Forex) market. It hovered in a range […]

June 4th, 2012 | Posted in Business India News | Read More »

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