Economy News - Page 30
Moody's downgrades nine Portuguese banks on asset risk
he key driver for the downgrades of most banks' debt and deposit ratings is Moody's assessment of the deterioration of their unsupported financial strength, said the ratings agency
NBFC shares plummet on slump in gold prices
Gold today recorded its steepest fall in over two months and lost Rs 800 to Rs 28,140 per 10 grams, on frantic selling by stockists
Delhi HC seeks Centre's stand on plea to include disabled in BPL category
The bench was hearing a lawsuit, filed by NGO National Platform for the Rights of the Disabled (NPRD), challenging the notification issued by the ministry concerned on May 30 framing guidelines for BPL census 2011.
Bankers want RBI to halt rate hike
The Reserve Bank is scheduled to unveil the second quarter monetary policy on 25 October.Bankers are concerned because there is no pick up in credit and the actual disbursements happening at present are the proposals sanctioned earlier.
S&P enters bear market, Greece fears sink Wall Street
Wall Street fell about 2 percent, extending the previous day's decline to 13-month lows as investors feared the crisis in Europe could throw the United States into a new recession.
Professionals on work visa in UK will have to return home after five years
UK today announced that Indian and other non-EU professionals will have to return to their countries of origin after their work visa expires instead of being allowed to settle here after working for five years.
UBS Q3 credit gains to cancel out trading loss
wiss bank UBS AG said it expects to report a modest third-quarter net profit, easing concerns about the impact of the $2.3 billion rogue trading loss uncovered last month as the bank chalks up gains on credit derivatives.
Eurozone puts back decision on Greek loans
Eurogroup chairman Jean-Claude Juncker said currency partners had asked the Greek government to take moves to ensure further savings in 2013 and 2014.
Rupee down 57 paise against US dollar in opening trade
Indian rupee fell by 57 paise to Rs 49.53 against the US dollar in early trade today amid steep depreciation of the euro on heightened concerns over the European debt crisis.
Nabard funds study on mobile-enabled Kisan credit cards
The service in Villupuram district would be available initially from Pallavan Grama Bank and would later be extended to other banks.
Here comes the hard part: Greek workers on purge list
The plan creates a "labour reserve" allowing state workers to be placed on partial pay and be dismissed after a year.<br /><br /> <br /><br />
Greece to start laying off state workers under new EU deal
The plan to lay off state workers -- who make up a fifth of the Greek workforce -- is extremely contentious, as they are guaranteed jobs for life under a constitution that bans firing government employees in virtually all circumstances.
Cairn India finds natural gas field off Sri Lanka's shore
Sri Lankan President Mahinda Rajapaksa said on Sunday natural gas has been discovered off the Indian Ocean island nation in the Mannar Basin, where Cairn India Ltd. has been drilling exploratory wells since August.
2G scam: MPs sent 84 letters to PMO since 2004
The Prime Minister's Office has received over 80 letters from former and sitting Members of Parliament regarding their concerns and suggestions on the telecom sector, including 2G licences distributed in 2008.
Shah Commission to analyse mines data, probes Goa illegal mining
According to the official, eight teams under the panel had inspected 90 operating mines and 32 non-operating mines in the coastal state in the wake of prevalent illegalities at various levels in iron ore mining.
Exports up 33% to $192.7 bn in Apr-Nov, imports up 30.2%
India's November exports are seen at $22.3 billion while imports for the month are seen at $35.9 billion, leaving a trade deficit f $13.6 billion
India's overseas investment hits all-time high of $103.9 bn
Direct Investment abroad moved up by $5.7 billion during the quarter to $103.9 billion as on end-June 2011.
No plans to alter output-sharing pact with RIL in KG-D6 block: OilMin
Last month, Reliance said it had begun arbitration proceedings against the government over cost recovery related to the KG-D6 block which it operates.
China's Wenzhou faces credit crunch as tycoons flee
While China's leaders are still struggling with a flood of credit unleashed to ward off the shockwaves from the 2008 financial crisis, some areas are seeing what many here have dubbed a "drought" of funding.
Planning Commission may alter Rs 32 poverty line affidavit
NAC members Aruna Roy and Harsh Mander have reportedly asked Ahluwalia to withdraw the poverty line affidavit filed by the panel before the Supreme Court or resign.<br /><br />
Cabinet approves mining bill; Coal India,Tata Steel tank
With the approval Coal India will be hit the most as it will have to share one fourth of its profit, which means lesser money for growth and dividends.
S&P, Fitch cut New Zealand rating, debt load a big pain
The rating agencies are expecting New Zealand's external position to deteriorate further, with the current account deficit rising again as markets are growing sensitive to debt.<br /><br /> <br /><br />
New export sop scheme to replace DEPB likely today
Though exports have shown a remarkable performance, growing by 54.2 percent between April-August 2011, to $ 134.5 billion, there are concerns that the momentum may not be sustained in the wake of increasing economic problems in the US and Europe.
CNG prices could go up this week
After petrol, prices of compressed natural gas (CNG) sold to automobiles in the national capital are likely to be hiked by a steep Rs 2 per kg this week.
India, Pakistan banks may open cross-border branches
Commerce and industry Minister Anand Sharma said that the RBI and the State Bank of Pakistan have discussed this matter and will take the next step.
Airfare hike: Ravi asks DGCA to examine the matter
With high festive season demand pushing up airfares, aviation regulator DGCA has been asked by Civil Aviation Ministry to examine if it could take some steps to provide any relief to air travellers.
Share Microfin gets Rs 1,200 cr debt restructuring deal
Share's total debt stands at Rs 1,900 crore, of which Rs 1,200 crore has been restructured and the remaining Rs 700 crore is held by lenders in the form of preferential shares with conversion rights.
Food inflation at 9.13 pc for week ended 17 Sept
ndia's food price index rose 9.13 percent and the fuel price index climbed 14.69 percent for the week ended 17 September, government data on Thursday showed.
One million people to enroll per day for Aadhaar by Oct: Nilekani
More than a million people will enroll for unique Aadhaar identity number per day by October which has so far been provided to 37 million people across the country, chairman of Unique Identification Authority of India Nandan Nilekani said today.
High energy prices limit monetary policy leeway: RBI deputy gov
Failure to push through much-awaited reforms such as opening up the multi-brand retail sector to foreign investment is cited among the possible reasons for persistently high food inflation along with rising incomes, in an economy growing at more than 8 percent.