Economy News

S&P and Moody's Give Contradictory Ratings on India's Outlook

Rating agencies Standard & Poor's and Moody's have caused confusion with their contradictory ratings on India's outlook. The former cuts India's outlook from stable to negative in its latest rating while the latter says it's stable.

Apr 26, 2012

Standard & Poor's Downgrades India's Outlook, Rates Negative; Don't Panic, Says Pranab

Standard & Poor's has cut India's outlook to negative from stable on Wednesday. The ratings agency downgraded the country's outlook on account of large fiscal deficit, not very impressive reforms, fall in stocks and rupee.

Apr 25, 2012

Pranab Mukherjee Clears Foreign Investors' Concerns Over India's Tax Amendments

Finance Minister Pranab Mukherjee addressing a gathering in Washington on Friday termed concerns of US investors over tax amendments in India as "unfounded".

Apr 21, 2012

India's economy Expected to Recover; More Repo Rate Cut Possible

Just on the heels of the Reserve Bank of India (RBI) cutting interest rates for the first time in three years by 50 basis points to boost economic growth, a poll conducted by Reuters expected India's economy to pick up this year. There is also possibility of RBI resorting to more cut in repo rate.

Apr 19, 2012

RBI Cuts Repo Rate by 50 bps, CRR Unchanged; What Experts Have to Say on Policy Move!

The Reserve Bank of India (RBI) threw up a big surprise with its annual Monetary Policy for 2012-13 on Tuesday by cutting interest rates for the first time in three years by a sharp 50 basis points. The move of the RBI was to boost the economic growth.

Apr 17, 2012

India Gold Jewelers Back in Business, Ends 20-Day Nationwide Strike

Gold demand in India remained low after the country's gold bullion traders and jewelers ended their 20-day nationwide strike on Friday, but the gold entrepreneurs remained confident consumer interest on the precious safe haven yellow metal will pick up as the annual wedding season in the country begins.

Apr 10, 2012

RBI's Reference Rate for Dollar Today (Apr 4, 2012)

The Reserve Bank of India (RBI) on Tuesday fixed the reference rate for the US dollar at 51.0465 rupees and the euro 67.3936 rupees.

Apr 4, 2012

BSE Sensex Falls Ahead of Long Weekend

The BSE Sensex fell by 0.45 percent in the opening trade on Wednesday because of the long weekend ahead. Traders are precautious, as the market will be closed on Thursday and Friday for holidays.

Apr 4, 2012

BSE Sensex Closes 2-weeks High; Lenders Anticipate Rate Cut

The BSE Sensex was up by 0.68 percent on Tuesday, its highest close in two weeks. Heavy Electricals (BHEL) gained after posting positive provisional earnings and lenders also expect the Reserve Bank of India (RBI) to cut rate this month.

Apr 3, 2012

RBI's Reference Rate for Dollar Today

The Reserve Bank of India (RBI) on Tuesday fixed the reference rate for the US dollar at 50.5645 rupees and the euro 67.4854 rupees.

Apr 3, 2012

RBA Likely to Keep Overnight Cash Rate

Economists and analysts are of the opinion that the Reserve Bank of Australia (RBA) would keep the 4.25 per cent overnight cash rate when its board meets Tuesday, April 3.

Apr 3, 2012

Kingfisher Airlines to Clear Salaries of Its Employees; Staff Targets IPL Team RCB

Chairman of Kingfisher Airlines and liquor baron Vijay Mallya had written to his visibly annoyed staff about their undue salaries. He had assured that the cash-strapped airlines will resume paying overdue payments starting this week.

Apr 2, 2012

Teachers Credit Union Now A Bank; Lenders Jack Up Fixed Mortgage Rate

Due to the rising dissatisfaction level among Australians with large banks, more people are bringing their business to credit unions. As a result of this change, a number of Aussie credit unions are becoming banks.

Apr 2, 2012

BlackBerry: RIM To Focus On CDMA Market To Push Up Sales In India

BlackBerry, the brand that has taken beatings owing to various reasons, is pushing its limits to keep itself afloat in cut-throat competitive business.

Apr 1, 2012

BSE Sensex Expected to Rise by 26 Percent This Year

The BSE Sensex is likely to rise this year in spite of concerns over the government's finances and political stability. A poll conducted by Reuters indicated that BSE Sensex might gain 26 percent this year, hoping on interest rate cuts to bolster growth.

Mar 30, 2012