Economy News - Page 24
Italian bond yields soar after poor debt sale
Italian bond yields soared on Friday after borrowing costs rose sharply at a short-term debt auction, raising questions over the eurozone's future.
Moody's cuts Hungary to 'junk' on high debt levels, weak growth
Moody's slashed Hungary's bond rating to "junk" late on Thursday, citing high debt levels, weak growth prospects and uncertainty about its ability to meet fiscal goals.
Rupee volatility to remain till eurozone crisis resolved: RBI chief
Subbarao said that the central bank is watching the rupee, but could not say whether it will intervene in forex market directly.
Promoters pledge shares worth Rs 1.1 trillion: Crisil
The study also found that promoters have pledged 25 percent of more of their holding in as many as 183 companies, while the promoter pledging was in excess of 50 per cent for 107 companies.
Volvo recalls 12,000 cars in China
Volvo Cars is recalling 12,798 of its 2012 model year vehicles imported into China, the top Chinese quality regulator said, in order to prevent potential fuel leaks and to fix faulty wiring that could cause airbag failure.
Rupee recovers 1.6 pc, RBI hand seen
State-run banks were spotted selling dollars starting at 52.55 rupees, likely on behalf of the RBI, to stem rupee's slide.
Fed to test six large US banks for euro stress
The six banks are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo.
China loses steam, manufacturing slumps to 32-month low
Chinese factories battled with their weakest activity in 32 months in November, a preliminary purchasing managers' survey showed.
IOC aska govt to reimburse Rs 2,000 cr of petrol under recoveries
It will have to raise petrol prices if under recoveries are not reimbursed.
Govt invites business tycoons to invest in J&K
J&K minister for Industry SS Slathia today asked businesses in the country to come forward and invest in Jammu and Kashmir, saying it is as safe to invest here as in any other state.
Rupee vulnerable after hitting record low of 52.76 against dollar
The falling rupee, combined with slowing growth, has added to a sense of urgency for a scandal-tainted government to push reforms to encourage investment.<br /><br />
Realty sector in Guj hit by price rise,labour shortage: Credai
Steady rise in the price of construction material, like cement, steel, bricks, coupled with a shortage of skilled labourers, has hit the realty sector in Gujarat, an office-bearer of Credai said.
India's FY12 fiscal deficit will breach 4.6% of GDP: Ahluwalia
India's fiscal deficit in the current fiscal year will exceed 4.6 percent of the gross domestic product target, though the final figures would depend on the actual expenditure, Montek Singh Ahluwalia has said.
GSM operators add 7.12 million new subscribers in Oct: COAI
GSM operators added 7.12 million new subscribers in October, compared to 6.52 million additions in the previous month.
RBI may have sold dollars to arrest rupee fall, say traders
The rupee skidded for a fifth consecutive session on Monday to within sight of its record low, as oil importers bought dollars and subdued shares heightened fears of foreign fund outflows
Oil down in Asia amid European jitters
Owing to the European debt crisis, traders are not willing to invest in oil shares.
GDP growth to be between 7.5% to 8%: Rangarajan
Prime Minister's Economic Advisory Council Chairman C Rangarajan has projected a GDP growth rate of 7.5 per cent to 8 per cent in the 2011-12 financial year.
PM concludes Bali visit, leaves for Singapore
Prime Minister Manmohan Singh today concluded his three-day visit to Bali, where he attended the India-ASEAN meet and East Asia Summit, besides holding talks with US President Barack Obama and his Chinese counterpart Wen Jiabao.
Civil nuclear deal to increase Indo-US defence trade: Lippert
Describing the US-India defence ties as "strong and growing," a top US official has told lawmakers that the civil nuclear deal between the two countries would lead to increased defence trade.
Govt to stick to Rs 40,000 cr disinvestment target: Pranab
Seven months of the ongoing fiscal are over, but the government has been only able to raise Rs 1,145 crore.
Creaky infra major roadblock to growth in India: S&P
The government has stepped up spending in recent years but the slow pace of reforms and a lack of long-term funding options constrain the infrastructure growth
Experts had advised RBI not to hike rates to fight inflation
Minutes of the 19 October meeting reveal that almost all external experts on RBI monetary policy advisory committee waere opposed to increase in policy rates to combat inflation.
India raises FII cap in corporate, govt bonds by $5 bn each
Foreign institutional investment (FII) limit in corporate debt now stands at a combined $45 billion, of which $25 billion must be invested in infrastructure bonds.<br /><br />
Decision to lower petrol prices taken by OMCs: Pranab
The finance minister said that oil marketing companies have to take decision depending on cost of their imports.
Oil falls below $99 after surprise US supply rise
Oil prices fell to below $99 a barrel Wednesday in Asia after a report showed US crude supplies rose unexpectedly last week, suggesting demand may remain weak.
Europe making gradual progress in crisis: Timothy Geithner
"This is absolutely within Europe's capacity to solve and it's within their ability. It's within their grasp, it's within their reach," US Treasury Secretary Timothy Geithner said.
FinMin still in talks with RBI to raise FII limit in govt debt: sources
The sources said the government has not finalised the timeframe for raising the limit nor has the amount of increase in the limit been finalised.
Europe on edge as Greeks gear up to reject more austerity
Prime Minister Lucas Papademos says Greece has to remain inside the eurozone and insists reforms are the only way to mitigate painful austerity measures.
India deserves higher credit rating, FinMin tells Moody's
ndia today told global rating agency Moody's that it deserves higher rating, at least two notches above the present grade, on the back of improvement in basic economic parameters witnessed in the last few years.<br /><br />