- No WTO deal unless US, EU make more concessions: Lula World trade talks underway in Geneva will fail unless the United States and Europe make greater concessions.
- US shift to smaller cars raises safety questions
- Citigroup CFO Crittenden says no intention to split company Citigroup Inc. Chief Financial Officer Gary Crittenden said on Wednesday there are no plans to split the company up because of credit-related problems and that its capital levels remain strong.
- Chinese investors set to clink glasses with wine futures Well-heeled Chinese can now invest in fine wines via the mainland’s first “wine futures,” but the vintages on offer are from aspiring local vineyards rather than rare Bordeaux labels.
- McDonald's exploring Dollar Menu price hikes: COO McDonald's Corp said on Wednesday it is exploring price hikes on its popular Dollar Menu in a bid to protect profits as costs for beef, cheese and other items continue to rise.
- Dubai arcade expects to double its volumes Dubai Professional Trading Group, the Middle East’s first trading arcade, said on Wednesday it plans to double its derivative volumes traded on international exchanges despite global financial market turmoil.
- US car sales to decline: Nissan CEO Nissan Motor does not expect US auto sales to bounce back in 2009 after a sharp decline this year, Nissan chief executive Carlos Ghosn said on Tuesday.
- US may clamp down on oil futures trading Congress may outlaw elements of oil futures trading that lawmakers found distorted demand and contributed to the 69% surge in prices in the past year.
- Tomato scare leaves US with concerns on food safety The tomato scare may be over, but it has taken a toll - it cost the industry an estimated $100 million and left millions of people with a new wariness about the safety of everyday foods.
- US Congress throws a lifeline at Freddie, Fannie House of Representatives to vote on Wednesday on rescue plan for beleaguered mortgage finance providers.
- European car makers post better than expected results European car makers Volkswagen, Peugeot Citroen and Fiat defied gloomy forecasts with better than expected results on Wednesday due to cost cuts, allowing them to keep their targets, lifting their shares.
- EU approves Porsche's VW takeover plans The European Commission approved Porsche's planned takeover of Volkswagen on Wednesday, paving the way for the German sports car maker to buy Europe's biggest auto maker.
- BHP Billiton reports record-breaking production BHP Billiton, the world's biggest miner, said on Wednesday its production of seven raw materials, including copper and iron ore, hit record levels in 2007-2008.
- Grim outlook for most US states' economies: Survey Revenues are continuing to dry up in most US states, forcing state governments to cut programs and staff to keep budgets balanced, according to a survey.
- China gets first seat in select WTO negotiating group China took a seat for the first time in the World Trade Organization's most select negotiating group when seven commercial powers met on Wednesday.
- High fuel costs driving inflation in Canada Consumer prices in Canada soared 3.1 percent in June, compared with a year earlier, on surging gasoline prices, Statistics Canada said on Wednesday.
- GM trails Toyota in first-half 2008 global sales General Motors Corp's global sales fell 5 percent in the second quarter, hurt by a 20 percent decline in North America.
- Boeing profit dips, short of estimates Boeing reported on Wednesday a 19 percent drop in quarterly profit to 852 million dollars, coming up short of Wall Street estimates but maintaining its outlook through 2009.
- Toyota global sales up 2.2 pc in first half Toyota Motor Corp. said that its global group sales rose 2.2 pc in the six months to June from a year earlier to about 4.82 million vehicles.
- CEO Jobs' health weighing down on Apple shares! The Apple shares has dropped close to 6 per cent over the past week despite a record profit of close to USD 9 billion in the latest quarter.
- VW gears up profit surge on drive into emerging markets Volkswagen, the biggest European carmaker, reported a profits leap, taking the stock market by surprise.
- German court rules Qualcomm patent invalid Nokia said the German Federal Patent Court ruled on Wednesday that a Qualcomm GSM patent asserted in a case against Nokia is invalid.
- China shares end down but airlines up on M&A hope Most Chinese shares fell, led by coal and non-ferrous metals producers, but airline stocks were strong, partly because of speculation about merger activity in the industry.
- Siemens in talks with Gores for SEN sale US investor The Gores Group is the front-runner in talks about the sale of Siemens AG's troubled corporate telecoms unit Siemens Enterprise Networks (SEN).
- De Beers H1 diamond sales up 10 pc, cautious on H2 The world's top diamond producer De Beers posted a 10 pc rise in rough diamond sales in the first half to $3.3 billion.
- UK's NICE confirms limited use of drug stents Drug-coated stents used to prop open clogged coronary arteries can continue to be used on Britain's state health service but only for certain high-risk patients.
- Hyundai says scraps low-cost model plan in China Hyundai Motor Co, South Korea's top automaker, said it had scrapped a plan to launch a low-cost sedan in China as the model would not be profitable amid rising raw material prices.
- Deutsche Bank resumes KGHM with sell rating Deutsche Bank has resumed coverage of Europe's largest copper miner KGHM with a 'sell' reccomendation and a target price of 80.0 zlotys.
- Internet television service Joost enters China Internet television service provider Joost said it launched a Chinese service.
- Loan Star to launch real estate financing in Japan Lone Star will start extending loans for real estate deals in Japan, eyeing a rush of property to be put on the block by developers keen to raise funds.
- Barco Q2 disappoints, unveils cost-cutting plan Belgian display and visual systems company Barco reported lower than expected second-quarter figures and unveiled a 30 million euro ($47.76 million) cost reduction plan.
- Volvo Q2 pretax tops consensus, holds market outlook World number two truck maker Volvo reported a bigger-than-expected second-quarter rise in pretax profit.
- TPG eyes British mortgage lender Paragon US private equity firm TPG is considering a bid for specialist UK mortgage lender Paragon, weeks after pulling out of a deal to take a stake in Bradford & Bingley.
- Japan's Idemitsu to revise oil prices once a week Idemitsu Kosan Co, is considering introducing a new system around October under which it will revise domestic wholesale oil product prices once a week, its president said.
- Indian-owned UAE firm among top NASA nanotech award A small United Arab Emirates (UAE)-based company owned by an Indian, that produces raw materials for the paint industry, is among this year's list of winners of a top nanotechnology award.
- Yahoo CEO believes company doing 'just fine' With Microsoft's $47.5 billion takeover bid off the table and his company's stock price down 20 per cent during his 13-month reign as Yahoo's CEO, Jerry Yang has a message for his exasperated shareholders.
- Chinese manufacturer drops stake sale to Carlyle China's Xugong Group said it had abandoned a controversial plan to sell a stake to US-based Carlyle Group.
- Brent crude falls more than $1 on demand woes ICE Brent crude futures fell more than a dollar amid worries over dwindling U.S. demand and as concerns that Hurricane Dolly might hit major oil and gas production facilities eased.
- Toy rocket inspires variable-speed bullets A US company is developing a gun that can fire bullets with variable speed and can be set to kill, wound or just cause a bruise.
- Joost, TOM Group launch China joint venture Internet television service Joost and Chinese media conglomerate TOM Group launched a joint venture to court viewers in China, even as the government tightens restrictions on such services.
- National City looking to sell unit - report National City Corp is trying to sell its money-management unit.
- Mexico telecom giant Telmex says profits fell 13% in 2nd quarter Telefonos de Mexico SA, Mexico's dominant fixed-line phone operator, said that profits fell 13 per cent in the second quarter amid stronger competition.
- US utilities say grid will be able to handle rechargeable cars Which draws more juice from the electric grid, a big-screen plasma television or recharging a plug-in hybrid car? The answer - a plasma television.
- Boston Properties second quarter FFO rises Boston Properties, a real estate investment trust, on Tuesday said second quarter funds from operations rose.
- Joost, TOM Group launches China joint venture Internet television service Joost and Chinese media conglomerate TOM Group will launch a joint venture on Wednesday to court viewers in China, even as the government tightens restrictions on such services.
- Nikkei climbs as exporters gain, but rises limited Japan's Nikkei stock average climbed 1.3 per cent on Wednesday as Canon Inc and fellow exporters powered higher after a steep fall in oil prices sent the dollar up against the yen.
- Australia's CBA in talks to buy ABN AMRO unit Commonwealth Bank of Australia Ltd, the nation's second-biggest lender by assets, said it was in talks to buy ABN AMRO's Australia and New Zealand operations.
- Jerry Yang says committed to remaining Yahoo CEO Jerry Yang said on Tuesday he is committed to remaining chief executive of Yahoo Inc as he spoke of relief at having averted a proxy battle with Carl Icahn for control of the company.
- Hitachi, GE to develop mid-size nuclear reactors Japan's Hitachi Ltd said on Wednesday it will develop mid-size nuclear reactors together with General Electric Co to tap growing demand for smaller nuclear power plants in Southeast Asia and other emerging markets.
- Air Products to sell US health unit, take charge Air Products on Tuesday said it would put its poorly performing U.S. healthcare business up for sale, resulting in a third-quarter impairment charge of $315 million, before taxes.
- Chinese worry about inflation, jobs, pollution: US poll Most Chinese are concerned about rising prices, unemployment and labor conditions, although they have a positive view of the way things are going in their country, a poll by a US group showed Tuesday.
- Menswear goes loose and easy on NY fashion runways If the latest in men's fashion on display this week in New York is any indication, men should have lots of free time, attend chic parties and dabble in arty jobs where they can wear whatever they want.
- Genentech CEO sells 90,000 shares prior to Roche bid If there was any doubt that Genentech Inc was caught by surprise by Roche's move to acquire the remaining stake in the biotechnology giant it doesn't already own, one need only look at recent executive stock transactions.
- Charles Schwab founder stepping down Online brokerage Charles Schwab Corp said on Tuesday that founder Charles Schwab would step down as chief executive in October, and will be replaced by Walter W. Bettinger.
- Pack your bags for Baghdad? Iraq looks to tourism
- American depression spectre may not be real The Great Depression of the 1930s - the last time the term rightly applied - was industrial capitalism’s worst calamity.
- Disney names new hosts to replace Ebert and Roeper A day after influential critic Roger Ebert quit the film-review show he co-created three decades ago, the Walt Disney Co. on Tuesday named two new hosts and unveiled a new format for the nationally syndicated program.
- ASEAN, partners agree to tackle food crisis, oil price spikes Foreign ministers of the 10 ASEAN nations and their counterparts from China, Japan and other key dialogue partners agreed today on the need to improve crop productivity in the region to overcome the looming food crisis.
- GE, Abu Dhabi firm in $8 bn joint venture US conglomerate General Electric Co and Abu Dhabi investment agency Mubadala Development Co said on Tuesday they have entered into an $8 billion joint venture that will initially focus on providing commercial finance in the Middle East and Africa.
- Traffic deaths in US fall as gas prices climb Rising prices at the gas pump appear to be having at least one positive effect: Traffic deaths around the country are plummeting, just as they did during the Arab oil embargo three decades ago.
- Microsoft should issue debt for a buyback: analyst Microsoft Corp should take on debt to repurchase stock as a way to revive its flagging share price, a financial analyst said in a new report issued on Tuesday.
- Yahoo net profit falls nearly 19% Yahoo Inc on Tuesday posted a nearly 19 percent fall in net profit, and net revenue short of lowered Wall Street expectations, as it faced a weakening economy and the distraction of Microsoft Corp's pursuit.
- Caterpillar profit beats views, boosts '08 outlook Construction and mining equipment company Caterpillar Inc said on Tuesday that its quarterly earnings rose a surprising 34 percent as strong sales in the developing world offset continued weakness in North America and creeping softness in Western Europe and Japan.
- Mexico retail sales rise 3.4 pc in May vs year ago Mexican retail sales rose 3.4 percent in May, the government said on Tuesday. Wholesale sales, often an indicator of the future performance of retail sales, rose 3.6 percent in the month compared with May 2007.
- 'Global credit crunch more profound than expected'
- US FDA, CDC say Merck's Gardasil shot remains safe A review of health problems reported after women and girls received Merck & Co's Gardasil vaccine shows it remains safe and effective for protecting against a virus that causes cervical cancer, U.S. officials said on Tuesday.
- Boeing to buy Insitu to boost presence in unmanned systems market Boeing Co. said Tuesday it will acquire aircraft design and development company Insitu Inc. for undisclosed terms to help boost its presence in the unmanned systems market.
- JPMorgan seen hunting for bank deals JPMorgan Chase & Co is one of a few U.S. banks strong enough to buy others, and some analysts suspect Chief Executive Jamie Dimon is on the prowl for deals but holding back for the right moment to pull the trigger.
- Karadzic arrest may help Serbia join EU club Serbia took a big step toward joining the European Union by arresting Radovan Karadzic, the former Bosnian Serb leader wanted for complicity in war crimes, including the massacre of 8,000 Muslims at Srebrenica in 1995.
- Cancer fears may spark decline in Vytorin sales Sales of Merck & Co and Schering-Plough Corp’s Vytorin, falling after data earlier this year questioned its effectiveness against a cheaper cholesterol drug, may slide further on cancer fears raised in a new study.
- Fannie, Freddie rescue estimate mounts A Bush administration plan to rescue Fannie Mae and Freddie Mac could cost U.S. taxpayers $25 billion, congressional budget analysts said on Tuesday as Congress worked to complete sweeping housing market legislation.
- Nissan's Ghosn sees no 2009 US auto recovery Nissan Motor Co does not expect U.S. auto sales to bounce back in 2009 after a sharp decline this year, Nissan Chief Executive Carlos Ghosn said on Tuesday.
- Alarm bells clang at telecom towers Vodafone Group reduced its sales forecast and Ericsson AB posted a 70% drop in profit as corporate and consumer spending slowed.
- Paulson's path could be a perilous one Treasury secretary Henry Paulson’s plan to revive US mortgage financing depends on investors buying the same kind of bonds they’re shunning in Europe.
- World Bank overstated money for environment: report The World Bank overstated its commitment to environmental projects since 1990, possibly by billions of dollars, an internal watchdog group reported on Tuesday.
- Wachovia loses $8.9B, cuts 6,350 workers, dividend Wachovia Corp. reported a surprisingly large second-quarter loss on Tuesday, deflating Wall Street's hopes that the nation's big banks are weathering the credit crisis well.
- Beijing hotels snip rates as Olympics demand falls Hotels in Beijing are slashing room rates for next month’s Olympics after tighter security, among other measures, dashed an expected windfall of visitors, hotels and travel industry executives said on Tuesday.
- Toyota may cut global sales goal by 350,000 units: report Toyota Motor Corp is considering cutting its 2008 global vehicle sales target by 350,000 units to 9.5 million units because of a larger-than-expected slide in U.S. sales, Kyodo News said on Tuesday, citing a Toyota executive.
- Young US adults face tough economic struggle: Study
- Centres fight for Islamic finance as oil booms
- Vodafone announces $ 2.0 billion shares buy-back
- US offers new farm cuts at WTO but developing nations want more Industrialised and developing economies failed to find common ground in global trade liberalisation talks Tuesday, with Brazil shooting down a US proposal a day after a European initiative went nowhere.
- GM's Brazil unit to buy engines from Navistar General Motors Corp's Brazilian unit said on Tuesday that a subsidiary of Navistar International Corp agreed to supply it with diesel engines over the next decade in a deal worth almost $2 billion.
- US resists push for WTO rules on food names The United States is resisting efforts at world trade talks to expand protections for geographical food names. It is also objecting to attempts to require patent seekers to disclose the source of genetic resources or traditional knowledge used to make drugs.
- More time needed to work thr' financial turmoil US Treasury Secretary Henry Paulson warned that more time will be needed to get past the current financial turmoil and called for better regulation to prevent a recurrence.
- Brazil says U.S. needs to go further on farm aid An offer by the United States to lower the ceiling on its trade-distorting farm subsidies to $15 billion is too high and must be brought down further to unblock global trade talks, a Brazilian diplomat said on Tuesday.
- Crosswords art in London underground Go back to the early 1940s in London, a city under siege from the German Luftwaffe bombings.
- Now, gas from human waste for Canadian homes Residents of the North Shore area in this Canadian city will be using gas from human waste to burn their furnaces and heat water, one of the first instances in the world when it has been used in an urban neighbourhood.
- Qantas chief tips 100,000 jobs to go in global aviation industry The head of Australian airline Qantas on Tuesday predicted the aviation industry would shed 100,000 jobs worldwide by the end of the year as high fuel costs force massive restructuring.
- Lehman hires former Goldman executive for Asia - Report
- Toshiba sells majority stake in real estate unit Japan's Toshiba Corp., hoping to refocus on mainstay businesses, said Tuesday it was selling a majority stake in its real estate unit for 80 million yen (751 million dollars) to the Nomura group.
- Vodafone sounds warning over revenue Vodafone Group PLC shares plummeted 14 pc after the mobile phone company scaled back its full-year sales forecast.
- Big Continental shareholders want premium bid Two big institutional investors in Continental AG insisted to Reuters that the German automotive supplier hold out for a takeover offer that offers a premium to shareholders.
- Bidders circle $4bln Daewoo Ship deal,face rising costs Despite a sliding stock market, bidders for South Korea's Daewoo Shipbuilding may have to pay a hefty premium and large fees to snap up the coveted $4 bn asset amid upbeat prospects for the sector.
- BoE's King wants to initiate aid for failing banks The Bank of England should have the power to initiate state help for failing banks.
- JPMorgan cuts Telefonica on Spain slowdown, Vodafone JP Morgan cut its recommendation on Spanish telecoms giant Telefonica to "neutral" from "overweight".
- 80 per cent feel Britain heading into recession An overwhleming 80 per cent Britishers feel that the country is heading into recession and blamed the Brown government for the plight.
- Beijing hotels slash rates after expected Olympic demand falters Hotels in Beijing are slashing room rates for next month's Olympics after tighter security among other measures dashed an expected windfall of visitors.
- Russia's TNK-BP in surprise Venezuelan deal BP's Russian oil joint venture TNK-BP will sign its first deal with Venezuela.
- China confirms telling Exxon to end Vietnam oil deal China said on Tuesday it had told Exxon Mobil Corp to pull out of an oil exploration deal with Vietnam that it sees as a breach of Chinese sovereignty.
- Win good for economy, to push reforms: Industry Corporate India and investors hailed the UPA’s victory in the trust vote. The leaders of India Inc said the victory is good for the economy and the country and expressed hope that the government will push reforms.
- Trust vote victory to help govt expedite reforms in key sectors Armed with a convincing victory in the confidence vote, the UPA government is now set to fast-track economic liberalisation onto a new trajectory.
- WTO director general Pascal Lamy tells Big 7 to hold hands India, Brazil, US, EU, China, Australia & Japan told to bridge gaps in agriculture & Nama.
- Key nations thrash out issues in bid to break WTO deadlock Key industrialised and developing nations, including China, were locked in "very intensive" trade talks at the WTO late Wednesday with both sides calling for concessions.
- Fuel prices must tail worldwide trends: Panel The B K Chaturvedi (former Cabinet secretary) committee on oil prices, is believed to have concluded that fuel prices should be revised more frequently but in modest measures to keep domestic prices in line with global trends.
- We'll protect infant industry at the cost of deal: Nath Kamal Nath, who rejoined the World Trade Organization (WTO) talks in Geneva on Wednesday, took a tough stand in all areas of India’s concerns including agriculture, industry, services and fishery subsidies.
- US mulling WTO offer on key India services demand
- Dollar, US fuel stocks drive down oil to $128 Oil prices fell slightly on Wednesday, extending a big two-week decline, after a US government report reinforced concerns that high prices and economic turmoil were slashing into energy demand in the world’s biggest consumer nation.
- Flower exports may fall 20% this year The Rs 300-crore flower export market is likely to shrink 15-20% this year owing to global recession. With fertiliser costs also doubling, the industry foresees a price rise by 10%.
- Govt speeds up mini-ratna stake sale The government has put on fast track a proposal to dilute its stake in mini-ratna companies like MMTC, STC, Bharat Electronics (BEL) and Shipping Corporation of India (SCI) through follow-on public offers (FPOs).
- Soil no bar: Gujarat farmers going hi-tech Eyeing the huge export market, especially for exotic flowers, farmers are cosying up to hydroponics - a “soil-less system of growing plants”.
- India ranks low in financial inclusion list India has been ranked poorly, even below African countries like Kenya and Moracco, in the first-ever index of financial inclusion.
- Punjab to withdraw 4 pc entry tax The Punjab government on Wednesday announced that it will withdraw the 4 per cent entry tax on several items including dyes, chemicals and cotton, which would hit the state exchequer by Rs 150 crore.
- India Inc against opening up SME-prone sectors at WTO Industry on Wednesday warned government negotiators that India's small and medium enterprises will be hit if the WTO proposals on opening of sectors like automobile, textile and chemicals are accepted.
- Gurgaon IT/ITES exports touch Rs 18,000 cr The total exports from district Gurgaon in Information Technology and IT-enabled services industry has touched Rs 18,000 crore at the end of FY'08.
- India rapidly becoming a global R&D hub: Study
- Indian softens stand on US offer on subsidy cut in WTO talks Softening its stand on the US offer, India on Wednesday described the American proposal to reduce its farm aid as a good sign.
- Goldman Sachs, Citi doubt Govt's ability to push ahead reforms Contrary to India Inc's expectations, global investment banking giants Goldman Sachs and Citigroup have expressed doubts over the UPA government's ability to push ahead with a full fledged reforms process.
- Govt working out on Rs 2,300-cr Air India bailout package The government is working out on a Rs 2,300 crore bailout package for Air India, which has suffered a staggering Rs 2,144 crore loss last fiscal due to rising aviation fuel prices and operational costs.
- Oil prices fall past $126 a barrel on US gasoline supplies Oil prices are extending their slide after the government reported gasoline stocks unexpectedly rose and crude supplies fell less than analysts forecast last week.
- Essential commodities prices show mixed trend Amid rising inflation retail prices of essential commodities have either remained steady or shown mixed trend for the week ended July 18.
- Civil Aviation ministry lobbies for 4%tax on ATF in all states The civil aviation ministry is vigorously pursuing with the finance ministry for pegging taxes on aviation turbine fuel at four per cent in every state so that relief could be provided to both airlines and passengers from increasing operating costs and fares.
- European car-makers oppose EU's tariff cut plan for India European car-makers, which have pumped in excess of $2 billion to set up manufacturing units in India, are opposing an EU proposal for big tariff cut on automobiles under WTO negotiations.
- India hails US move in WTO talks Indian Commerce Minister Kamal Nath welcomed on Wednesday a shifting US position on farm subsidies at WTO trade talks, saying it was a positive development as ministers attempt to clinch a new global deal.
- Punjab decides to withdraw entry tax on several items In a major relief to the state industry, Punjab government on Wednesday announced to withdraw four per cent entry tax on several items including dyes, chemicals, cotton and as a result of it, the state government would forgo Rs.150 crore of revenue.
- Oil product sales slow in June after price hike India's domestic oil product sales growth slowed sharply in June from a year earlier to the smallest annual rise since May 2007, as higher prices dented demand for transport fuels and inventory purchases fell.
- Deficient rainfall may result in set-back for oilseeds crop Deficient rainfall in 13 out of 36 meteorological divisions of the country has affected the prospects of the kharif crop, particularly in Maharashtra, Karnataka, Madhya Pradesh and Tamil Nadu, a top industry official said.
- Industry ask PM to hasten reforms process With the government winning a confidence vote in Parliament, industry body Assocham on Wednesday asked for Prime Minister Manmohan Singh's intervention in speeding up reforms in key sectors of the economy.
- Further economic reforms prior to polls unlikely: Moody's Despite the UPA Government winning the confidence motion, uncertainties pertaining to economic reforms in key sectors persist, given the prevailing inflationary pressures and policy differences amongst its coalition members, rating agency Moody's today said.
- Private wheat procurement declines at 11.7 lakh Private traderes and big corporate houses such as ITC and Cargill have procured only 11.7 lakh tons of wheat.
- Nath asks US to offer "real" cuts in subsidy Commerce and Industry Minister Kamal Nath, who rejoined the WTO talks, said the US must offer "real" cuts in subsidy to its farmers and its proposal to reduce the doles was not in line with the current food prices.
- NMDC seeks up to 97pc jump in iron ore prices from int players NMDC is seeking up to 97 pc increase in iron ore prices from foreign steel makers, a move that could have similar repercussions on the domestic market, which may result in higher steel prices.
- NGOs seek tariff freedom for developing nations at WTO Civil organisations and NGOs attending the WTO meeting here have sought tariff freedom for developing nations as a defence against high import of certain sensitive items.
- Higher FDI in insurance likely soon The UPA government is stepping on the reforms pedal that would pave the way for higher FDI ceiling in insurance sector.
- Agri futures trading should be discouraged: Par Panel A Parliamentary Committee has suggested that futures trading in farm products needs to be discouraged as it is leading to artificial rise in prices and not benefiting the Indian farmers.
- Lehman says oil near tipping point, to average $110/barrel in Q4
- India ranks low in financial inclusion, says ICRIER India has been ranked poorly, even below African countries like Kenya and Moracco, in the first-ever index of financial inclusion prepared by ICRIER.
- India looks for more from US:Kamal Nath Indian Commerce Minister Kamal Nath poured cold water on attempts by the US and Europe to jolt stalled WTO talks forward, saying developed countries needed to propose "real" cuts.
- India looks for more from US, Europe in WTO talks: minister Indian Commerce Minister Kamal Nath poured cold water on attempts by the US and Europe to jolt stalled WTO talks forward.
- Bureaucratic barriers to Cotton exports In a move that is perceived to be restricting cotton exports, government has made registration of overseas contracts compulsory with the Textile Commissioner in Mumbai.
- NAFED says to import 200,000T of yellow peas India's National Agricultural Co-operative Marketing Federation (NAFED) has invited bids to import 200,000 tonnes of yellow peas to be delivered between Sep-Dec,.
- India unlikely to see major reforms before election India's govt has regained political momentum after surviving a confidence vote in parliament, but optimistic talk about restarting stalled economic reforms could be overblown.
- Rs 350 cr sugar factory to come up at Perambalur dist A 3,500 tonne per day sugar factory, with integrated sugar mill status, would soon be set up at Udumbiyam village in Perambalur district at a cost of Rs 350 crore.
- India should curb agri-futures, strengthen regulator India should discourage futures trading in agriculture commodities to contain speculative trading, resulting in an artificial rise in prices, a parliamentary standing committee said in a report.
- Focus now on seeing through economic reforms: Chidambaram Finance Minister P Chidambaram said focus would now be on greater economic liberalisation, including relaxing FDI limit in sectors like insurance.
- India to register all cotton export contracts Indian cotton exporters will have to register all export contracts with the Textile Commissioner before shipment.
- Oil drops below US$128 a barrel in Asia Oil prices slipped further after tumbling more than US$3 a barrel in the previous session as a hurricane looked likely to spare key oil installations in the U.S. Gulf of Mexico.
- Trust vote victory to help govt expedite reforms in key sectors
- Oil prices lower as threat from Dolly eases Oil prices eased in Asian trade as it looked like Hurricane Dolly would spare vital energy production facilities in the Gulf of Mexico.
- Crude reality: There’s more to oil spike than speculation The world seems to be perplexed as to why oil prices are cruising upwards. The global leaders also failed to come to a conclusion in their meet in Jeddah on June 22 as to how to tame the galloping price.
- India likely to ride European wheels to avoid tariff cut collision
- Oil hits six-week low, storm fears ease Oil prices fell to a six-week low on Tuesday amid concerns over sliding U.S. energy demand and expectations that a hurricane pushing through the Gulf of Mexico would spare most offshore oil production.
- Will home run be joined by WTO win? With the UPA government winning the trust vote in the Parliament, there is a sense of relief at the WTO headquarters here.
- Dr No wants rich to open doors to services India has called for sympathetic handling of issues involving the fragile livelihood of millions of poor people in developing countries in the mini-ministerial meet of the World Trade Organization here.
- Government rejects US offer to cap farm grant at $15 billion The US has offered to bind its overall trade-distorting subsidy (OTDS) in agriculture at $15 billion.
- Government rejects US offer to cap farm grant at $15 billion The US has offered to bind its overall trade-distorting subsidy (OTDS) in agriculture at $15 billion.
- Export cess hike may not hit sponge iron cos Domestic sponge iron makers which includes firms such as Jindal Steel and Power, Monnet Ispat and Vikram Ispat may not face the heat of the government’s move to increase export cess on sponge iron as their exports are negligible.
- Third-party info to help govt track excise evasion The Central Board of Excise and Customs is formulating a third-party information system to tackle the rampant evasion in indirect taxes, including excise duty.
- PF corpus: Funds quote lowest fees Over five fund houses have quoted a fee of one basis point (0.01%) or less for managing the incremental or fresh funds of the EPFO which is reckoned to be close to Rs 25,000 crore annually.
- Oil tumbles more than $4 to below $127 a barrel Oil prices tumbled more than $4 a barrel on Tuesday as Tropical Storm Dolly grew increasingly unlikely to threaten supply, knocking out one more reason traders had to prop up prices.
- India rejects US offer to cut farm subsidies to $ 15 bn India today rejected the US offer to cut its overall trade distorting farm subsidies to USD 15 billion a year, saying the move would not help as it still gives America enough headroom to increase the incentives.
- Expenditure Committee approves seven projects in Delhi The Expenditure Finance Committee of Delhi Government today gave nod to seven projects worth Rs 347 crore including four related to PWD and one each to power, land and building and flood control departments.
- India seeks adequate policy space to protect its farmers India today told the world community that it will not "compromise on policy space" to protect its vulnerable farmers and infant industries, while asking the WTO to send a strong signal for correcting the distortions in the agriculture trade.
- Rupee ends weaker ahead of trust vote; Gold up on global cues The Indian rupee ended weaker on Tuesday on worries about the outcome of a vote of confidence in the government after opposition politicians said they were offered bribes to abstain.
- Oil prices firm, with eyes on Dolly storm World oil prices edged higher on Tuesday after US forecasters issued a hurricane warning for the Gulf of Mexico where many US energy facilities are based, traders said.
- Onion prices to add flare to inflation fire Indian onion prices have doubled in July and is set to flare in the second half on an expected drop in output.
- Trade powers struggle to save WTO round, eyes on US Talks to unblock a global trade deal focused on the United States amid hopes that Washington was ready to announce long-awaited plans for cutting farm subsidies.
- FICCI calls on developed nations to make agri trade less distorted As the WTO mini-Ministerial meeting entered the second day, Industry body FICCI called upon the developed nations to unambiguously demonstrate that they are prepared to substantially contribute towards making the global agricultural trade less distorted.
- India set to become an economic superpower: Chidambaram P Chidambaram said the nation should emulate China for faster growth, asserting that India was on way to become an economic super power with the end of its nuclear isolation.
- Sugar exports hit new record, may touch 4 mn tons Country's sugar exports have almost doubled to a record 3.5 million tons till mid-June against the whole of the previous season.
- Trade powers struggle to save WTO round The United States, the European Union and emerging economic heavyweights tried again on Tuesday to bridge huge differences and unblock a trade deal aimed at delivering a boost to the world's flagging economy.
- Govt not to auction excess land acquired for BIA The Karnataka govt will not auction the 409 acres of excess land acquired for Bengaluru International Airport at Devanahalli on the outskirts of the city but give it out on lease.
- Oil prices climb over hurricane warning World oil prices rose on Tuesday as US forecasters issued a hurricane warning as Tropical Storm Dolly swirled through the Gulf of Mexico, where many US energy facilities are based.
- Ministers' panel on SEZ to meet on Aug 7 An empowered Group of Ministers (eGoM) is scheduled to meet on August 7 to consider crucial policy issues on Special Economic Zones.
- Inflation seen at 12.03 pc on July 12 India's annual inflation rate is expected to have to have risen to 12 per cent in early July, driven by higher costs of commodities and strong demand in the economy, a poll showed.
- Ginger exports decline by 63 pc in April-May Higher price of ginger in the domestic market, as compared to China and Nigeria, has led to a 63 per cent decline in its exports during the first two months of the current fiscal.
- Indian firms purchase cotton from Pakistan Indian firms have purchased 10,000 cotton bales from Pakistan at 75 cents per pound for urgent delivery, leading to an increase in the price of the commodity in local markets.
- Growth in emerging E Asia likely to ease to 7.6 pc this yr: ADB Rising food and energy prices and volatility in financial markets are likely to ease this year's growth across emerging East Asia to 7.6 per cent from 9 per cent last year, the Asian Development Bank said on Tuesday.
- GDP growth in 2007/08 close to 9.1 pct-finmin Country's gross domestic product (GDP) growth in the fiscal year 2007/08 was close to 9.1 per cent, the finance minister, Palaniappan Chidambaram, said during a parliamentary debate on Tuesday.
- ADB cuts developing Asia's 2009 growth forecast The Asian Development Bank on Tuesday cut its 2009 growth forecast for the region's developing economies to 7.6 percent, citing tighter credit and soaring food and energy costs.
- Oil prices lower in Asian trade as storm fears ease World oil prices eased in Asian trade as initial signs showed Tropical Storm Dolly would likely have limited impact on energy production in the Gulf of Mexico, dealers said.
- PSF production to grow by 13 pc in 2008-09: CMIE The production of polyester staple fibre (PSF) in the country is expected to grow by 13 per cent in the year 2008-09, the CMIE said in its monthly report here.
- Oil prices ease in Asian trade World oil prices eased in Asian trade as initial signs showed Tropical Storm Dolly would likely have limited impact on energy production in the Gulf of Mexico, dealers said.
- ADB says days of cheap food in Asia are over The era of cheap food for Asia is over as surging demand, supply problems and the growing production of biofuels will keep food prices high, the ADB warned.
- Kamal Nath's absence weighs heavy on WTO talks Kamal Nath is notably absent as he is in New Delhi as a crucial vote of confidence in the UPA govt was set to take place on Tuesday.
- Oil eases as Dolly unlikely to hit US production Oil pared some of the previous session's gains on Tuesday, as Tropical Storm Dolly looked likely to miss major US oil and gas production, easing fears of supply disruptions from the first big storm threat of 2008.
- Warrants to MNCs on auto FDI route can bypass FIPB Daiichi Sankyo, which recently agreed to acquire Ranbaxy, may not need to wait for an approval from the Foreign Investment Promotion Board (FIPB) for subscribing to warrants of the Indian drugmaker as the government is set to simplify this procedure.
- CCI to scan M&As only if all partners have minimum biz A potential to threaten domestic competition in future alone cannot bring India Inc’s overseas M&A deals under the competition regulator’s scanner.
- G-20 tells rich nations to cut farm subsidy The powerful G-20 group of developing countries such as India, China and Brazil has stepped up pressure on developed nations like the US to substantially reduce their billions of dollars worth of trade-distorting farm subsidies and make steep duty cuts in products with high tariffs.
- FICCI unhappy with Nama draft Industry chamber FICCI has demanded the removal of anti-concentration clause from the WTO draft on non-agricultural market access (Nama).
- Insurance Bill panel to suggest reforms Even as the UPA government’s fate hangs in balance, the finance ministry has decided to form a panel to suggest possible changes in the proposed insurance Bill.
- EPFO may raise interest rate this year Subscribers to the Employees Provident Fund (EPF) may earn at least a marginally higher payout for 2008-09 than the 8.5% they received in 2006-07 and 2007-08, but only if do not withdraw their funds mid-year.
- GST plan could yet be far from reality The empowered committee of state finance ministers has recently submitted its report on the structure of the proposed goods and services tax (GST) and related matters to the Union government.
- Customs makes drawback easier for exporters Indian exporters now need to maintain only one core-banking enabled bank account at the national level for payment of drawback shipping bills and drawback claims.
- Oil heads higher, topping $130 a barrel Oil prices rose on Monday on a threat of new sanctions against Iran and a hurricane watch was issued for parts of the Texas and Mexico coasts as Tropical Storm Dolly entered the Gulf of Mexico.
- Focus on protecting rivers in new water policy With Kerala heading for a severe water crisis due to the failure of the South West monsoon, the LDF government on Monday said the state would enter into inter-state water sharing agreements only after obtaining state assembly's approval.
- Egypt to end rice export ban in September-Trade Min The Egyptian trade minister said the country will resume exporting rice at the beginning of September,thereby, reversing a temporary export ban.
- US says it will move on domestic subsidies The US will move on its domestic subsidies that distort global trade on agriculture in order to ensure a successful outcome of the Doha Development Round this year, the country's trade representative said on Monday.
- India for more subsidies by developed nations Upset over the delay in the conclusion of Doha round of trade talks, India, along with the G-33 alliance of developing countries, on Monday came down heavily on the rich nations for not making "actual reductions" in the lavish farm subsidies.
- EU, US pile pressure on emerging economies at WTO talks The United States and European Union took aim at emerging economies at crucial WTO trade talks here on Monday, warning them to open up their markets if the seven-year Doha Round is to succeed.
- Asian currencies hit back, strengthen against dollar Reversing the trend witnessed in the first half of 2008, Asian currencies have started strengthening against the dollar since early July.
- Bond yields fall to 3-week low, Re at 2-month high Bond yields fell to their lowest in nearly three weeks on Wednesday after the government’s victory in a confidence vote raised hopes of more foreign investment, which could ease tight cash conditions.
- Rupee rises to 2-month high on UPA vote victory
- Re closes at 42.16/19 per dollar The rupee closed at 42.16/19 per dollar, from the previous close of 42.73/74, helped by a rally in the share market after the government won the vote of confidence, with lower oil prices also boosting sentiment.
- Indian rupee rises on stocks rally, vote win The Indian rupee extended gains in afternoon trade with lower oil prices also boosting sentiment.
- Dollar holds ground after rally, kiwi falls The dollar stayed firm, holding much of the ground gained against the euro and yen the previous day on a verbal lift from top US officials and a sharp slide in the price of crude oil.
- Rupee rises to 7-week high on UPA victory
- Rupee rises, bond yields ease after vote win The rupee rose to its highest in seven weeks and bond yields eased to near three-week lows early on Wednesday, after the ruling coalition won a confidence vote, ending political uncer
- Rupee to rise on confidence vote win The rupee should strengthen after the ruling coalition won a confidence vote, which should help the government push stalled reforms.
- Dollar holds ground after rally The dollar stayed firm holding much of the ground gained against the euro and yen the previous day on a verbal lift from top US officials and a sharp $4 slide in the price of crude oil.
- Rupee weakens on political flux Upheavals on the political front dominated movements in the bond market on Tuesday. Allegations of Opposition politicians being offered bribes ahead of the trust motion triggered a sharp fall in bond prices.
- Dollar gains broadly on oil slump, Plosser comments The dollar rallied sharply on Tuesday, boosted by a steep drop in oil prices and comments from a Federal Reserve official suggesting that US interest rates may have to rise even before financial markets recover.
- Rupee gains on hopes govt may win vote The rupee strengthened on Tuesday as hopes rose that the government might survive the vote of onfidence in parliament, while gains in the local share market also boosted sentiment.
- Rupee trims early losses on firm stocks The rupee trimmed early losses in afternoon trade on Tuesday helped by a firm stock market but caution prevailed ahead of a confidence vote in parliament that would decide the fate of the government.
- Rupee seen at 44.50/dollar in 1-2 months: Westpac The rupee is likely to remain under pressure as high crude oil prices will lead it lower, Westpac Institutional Bank said on Tuesday.
- Dollar steady but dogged by financial concerns The dollar was steady on Tuesday after falling near a record low against the euro the previous day as investors believe the worst of the problems in the U.S. financial system are not yet over.
- Rupee turns cheaper against US dollar in early trade The Indian rupee was cheaper by eleven paise against the greenback during morning trade on Tuesday on fairly good dollar demand from public sector banks amid the trust vote in the Lok Sabha against the UPA government.
- Rupee weakens on onshore-offshore arbitrage The rupee weakened in early deals, as foreign banks bought dollars in the local markets to sell it offshore but with oil prices stable, the rupee is not expected to fall too steeply.
- Dollar steady but capped by financial concerns The dollar was steady after falling near a record low against the euro the previous day as investors believe the worst of the problems in the US financial system are not yet over, effectively helping support the euro.
- Rupee seen up but confidence vote watched The rupee is seen stronger on hopes the government may survive a crunch vote in parliament, which could ease global investors' fears of prolonged political uncertainty.
- Yields tumble, Re ends at 42.68/69 vs dollar The rupee ended the day at 42.68/69 per dollar, even as it rose to 42.66 levels during the day on Monday.
- Rupee up by 8 paise against a dollar Extending its gains for the fourth day in a row today, the Indian rupee closed 8 paise higher at 42.68/69 against the greenback on persistent selling of US dollar amid buoyant equity markets and a fresh surge in oil prices in Asia.
- Rupee flat as political uncertainty weighs The rupee pared early gains on Monday as traders were wary ahead of a parliament session on a vote of confidence and volatile local stocks.
- Rupee rises on Asian stock cues, oil helps The rupee rose on Monday, thanks to oil hovering around $130 a barrel and higher Asian stock markets which raised expectations of renewed capital inflows into local stocks.
- Rupee seen up on Asian stocks, oil cues The rupee is set to gain on Monday, thanks to oil hovering around $130 a barrel and higher Asian stock markets, which could underpin local stocks and revive inflows.
- Asian currencies rise against dollar Asian currencies ended the week mostly higher against the dollar amid continuing concerns over the state of the US economy and the health of its financial sector.
- Dollar holds ground after Citigroup earnings report The dollar held firm on Friday amid news that US banking giant Citigroup, hard-hit by a sharp downturn in the US housing market, posted a smaller than expected quarterly loss.
- Rupee climbs to three week peak, oil key
- Rupee climbs to three week peak The Indian rupee closed at its highest in three weeks on Friday as banks sold the dollar after oil prices fell further away from record highs, calming concerns of a widening trade deficit.
- Dollar eases, financial concerns weigh The dollar inched lower on Friday after posting its biggest daily gain against the yen in more than three months.
- Rupee climbs as oil retreats, stocks eyed The rupee climbed on Friday, as oil backed further away from record highs easing concerns of a widening trade deficit.
- Dollar edges up, oil down but financial concerns weigh The dollar inched up on Friday after posting its biggest daily gain against the yen in more than three months the day before when US stocks rallied on a sharp drop in oil prices
- Rupee climbs to 42.66/67 as oil softens The rupee climbed on Friday following a further drop in oil prices and expectations this will spur local shares higher.
- Rupee to rise as oil slips, Asian shares up The rupee could climb on Friday, following a further drop in oil prices and expectations this will spur local shares higher.
- Taiwan dollar at 2-week high as stocks rise The Taiwan dollar strengthened to a two-week high on Friday, propelled by a rise in the stock market, with investors watching whether that would translate into foreign fund inflows later in the day.
- Canadian dollar falls as oil prices decline The Canadian dollar fell to its lowest close this week against the US dollar on Thursday, as oil prices declined, giving a boost to the greenback.
- Rupee edges higher as oil retreats The Indian rupee strengthened on Thursday, bolstered by a further drop in global crude prices and a rally in local shares, which renewed hopes for further foreign fund inflows.
- China's yuan pulls back sharply against dollar China's yuan pulled back sharply against the dollar as traders anticipated the Chinese central bank would engineer a pause in the currency's appreciation.
- Rupee at 42.90/91 on oil, stocks The rupee rose on Thursday, boosted by a sharp drop in oil prices in the previous two sessions and a stock market rebound helped ease concerns of outflows.
- Dollar dips on report wealth funds trim holdings The dollar dipped after a report that sovereign wealth funds were seeking to reduce their exposure to the US currency, taking some wind out of its rebound the previous day on tumbling oil prices and rallying stocks.
- Rupee rises as Asian stocks gain, oil helps The partially convertible rupee edged higher on Thursday bolstered by higher Asian stock markets and softer global oil prices.
- Rupee seen up on Asian cues, oil The rupee is expected to rise on Thursday, bolstered by higher Asian stock markets and softer global oil prices.
- Dollar holds gains after rebound on oil drop The dollar was flat on Thursday after rebounding sharply the previous day as oil prices tumbled and upbeat earnings from US bank Wells Fargo eased investors' fears about the US economy and financial markets.
- Dollar firms on US inflation data The dollar firmed against the euro on Wednesday on news that US inflation in June rose at the fastest clip in 26 years, fueling speculation the Federal Reserve may be forced to raise interest rates.
- Dollar gains on euro on drop in oil price The dollar gained on the euro on Wednesday on news that US inflation in June rose at the fastest clip in 26 years and that industrial output was unexpectedly stronger in the world's largest economy.
- FIIs may cash out from debt & equity
- Rupee gains in opening deals The rupee gained in opening deals on Wednesday, backing away from one-week closing lows after a sharp drop in global oil prices eased concerns of a widening trade deficit.
- Rupee seen lower on shaky shares The rupee is expected to ease on Wednesday from the previous day's one-week closing low, with traders watching wobbly stock markets and the currency's offshore weakness.
- Dollar off record low vs euro on oil plunge The dollar held steady against the euro on Wednesday after sliding to a record low the previous day, with a sharp drop in oil prices helping to temporarily offset the mounting gloom over the US financial sector.
- Dollar dives to record low vs euro The dollar fell to a record low against the euro on Tuesday amid persistent fears over the health of the US financial institutions, with Federal Reserve Chairman Ben Bernanke giving a grim assessment of the sector.
- US Dollar ends sharply dearer against rupee The U.S. Dollar ended sharply dearer against the rupee at Rs.43.23/24 per dollar at the InterBank Foreign Exchange (Forex) market on Tuesday.
- Rupee falls to 1-week low on Fitch downgrade Rupee fell to a one-week low on Tuesday after Fitch Ratings downgraded its local currency outlook and rising global oil prices highlighted worsening underlying economic conditions.
- Indian cash rates steady ahead of CRR increase Indian overnight cash rates were holding steady near 9 per cent due to tight cash conditions ahead of the second stage of increase in bank's cash reserve ratio (CRR).
- Rupee falls sharply by 20 paise at 43.12/13 vs dollar The Indian rupee today fell sharply by another 20 paise to 43.12/13 against the US currency early this morning following distinctly weak trend in equity markets and capital outflows amid dollar buying by some banks.
- Gold futures up on firm oil, financial woes Gold futures were up on Tuesday on the Multi Commodity Exchange of India Ltd (MCX) as the rupee weakened and the metal traded close to a four-month high in the overseas markets.
- Rupee eases on outflow concerns The rupee backed further away from a two-week high on Tuesday, on worries that foreign funds would pull more money out of local stocks amid weak Asian markets.
- Rupee softens on outflow worries The rupee weakened on Tuesday on concerns that foreigners are pulling more money out of the stock market, with global sentiment towards equities dented by US credit turmoil.
- Rupee to drop on rising equity outflows The rupee should weaken on Tuesday as foreign funds pull out more from the local stock market, with global sentiment towards equities dented by US credit turmoil.
- Aussie dollar buoyant near 25-yr highs, bonds gain The Australian dollar struck a fresh 25-year high offshore against the U.S. dollar, which remained dogged by worries about the health of the financial sector despite a rescue package for the two top U.S. mortgage finance companies.
- Dollar set for gradual appreciation in 2009 The U.S. dollar could begin to appreciate next year as the U.S. economy recovers and growth in Europe and Asia falters, forcing monetary authorities in other countries to cut interest rates, a fund manager said on Monday.
- Court issues notice on Chennai steel market Government decisions often remain only on files to be forgotten -- but a 9-year-old unimplemented order has drawn notice of the high court here following a PIL.
- RBI sells dollars in May to support rupee RBI bought $1.63 billion in intervention in May, and sold $1.48 billion in the same month, trimming net dollar purchases in 2008 to $24.8 billion.
- Rupee weakens as arbitrage pressure weighs Rupee weakened on Monday, as traders bought dollars locally to arbitrage in offshore markets and cash in on the high rate differential.
- Rupee weak on offshore arbitrage, weak stocks The rupee was slightly weaker in afternoon trade on Monday, as traders bought dollars in the market to sell it offshore to cash in on the price differential, while losses in local shares also pinched.
- Rupee seen at 42.50/dlr by end 2008: HSBC The rupee may rise to 42.50 per dollar by the end of 2008 as RBI's determination to cap the local unit's weakness was broadly in line with its policy stance and supported its efforts to fight inflation.
- Rupee at near 3-week high, stocks eyed The rupee climbed to near-three week highs on Monday as softer oil prices calmed concerns of a widening trade deficit, but weakness in the offshore market checked sharp gains.
- Rupee edges up on Asian shares, oil The rupee gained in opening trades on Monday, helped by gains in Asian shares and a drop in oil prices but weakness in the currency's offshore market could limit the rise.
- Rupee to start higher on Asian shares, oil The rupee is expected to start higher on Monday, helped by gains in Asian shares and a drop in oil prices but weakness in the currency's offshore market could limit the rise.
- Dollar bruised by Fannie & Freddie, oil surge The dollar slumped on Friday, battered by heightened worries about the U.S. financial sector after a report said the US government is considering taking over mortgage agencies Fannie Mae and Freddie Mac if their situation worsens.
- Rupee gains as firm sells dollars The Indian rupee hit a two-week high on Friday as a corporate sold a sizeable amount of dollars, but then trimmed its gains as unexpectedly weak industrial output data sparked a stock market sell-off and oil hit a record high.
- Rupee ends at 42.87/88 per dollar The rupee ended at 42.87/88 per dollar, from the previous close of 42.99/43.00, on dollar sales by a large corporate but shed gains after lower-than-expected industrial output data and oil climbing to a fresh record.
- Dollar falls against euro ahead of US data The dollar fell against the euro on Friday as the foreign exchange market fretted over the US financial sector and braced for a round of crucial economic data from the United States, dealers said.
- Rupee continues surge, gains nine paise in early trade The rupee continued its surge for the fourth straight day gaining nine paise to 42.90/91 against the greenback in morning trade on increased supplies due to sustained exporters' dollar selling.
- Rupee rises as firms sell dollare, data eyed Rupee strengthened on Friday on corporate sales of dollars, with sentiment also underpinned by hopes for political stability.
- Yuan at post-reval high as c.bank surprises again China's yuan hit a fresh post-revaluation high against the dollar for the second straight day after the Chinese central bank surprised the market by fixing another strong reference rate.
- Guar seen higher on export demand Guar futures may open higher on Friday on export demand from the U.S. and China for industrial guar gum.
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Safety experts worry a lighter fleet poses serious risks despite air bags, anti-collision systems and other advances. Audis | BMW Biggies | Maruti Kizashi
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Now that insurgent attacks and sectarian bloodshed have ebbed over the past year, Iraq's govt is beginning to promote tourism. Cruise Liners | How to invest in Iraq?
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Fallout from global credit crunch is proving worse than previously expected, said UK’s chancellor of the exchequer Alistair Darling . Indians buying up swathes of London
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Young adults are being hit harder by rising US energy and food costs than older Americans because they are just entering the workforce. The top 10 food myths
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With conventional sources of cash depleted by credit crunch, oil-rich Gulf markets are one of the few reliable sources of finance. Top 5 banking major losers of Wall Street
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The maximum price for any share would be no greater than 105% of the stock's average closing price during the 5 biz days preceding date of purchase. Day in Pics
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US is prepared for the first time in world trade talks to discuss allowing more service professionals from India and other developing countries to work there. Lost your job?
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India is rapidly becoming a global R &D hub, with a momentum and on a scale akin to what it achieved in information technology. Day in Pics I | Business Humour
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Over the 1st half of 2008, US oil demand surpassed all negative expectations, where as in India it has been robust, growing at 140k b/d.Gainers & Losers | Rupee rise
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Armed with a convincing victory in the trust vote, the UPA govt is now set to fast-track banking, pension sector and capital markets reforms. Nuclear drama in pics
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Cos such as Fiat, Volvo and Volkswagen that have set up manufacturing plants in India could help India get a better deal at the WTO. BMW's 2009 7-series | VW Jetta
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The near-term direction for the rupee would now depend on oil prices and may strengthen to 41.70.Gainers & Losers | Views & Recommendations
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The Re rose to its highest in more than seven weeks as fears of political uncertainty eased after govt won the trust vote. Gainers & Losers | Views & Recommendations
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The Indian currency ended at 42.76/77 per dollar, a shade stronger than Thursday's close of 42.81/82 and its strongest close since June 26. How to invest in Iraq?
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Fitch's review of local currency rating outlook could see withdrawal of funds by FIIs, both from equity and debt markets. Gainers & Losers | Views & Recommendations
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