After 13 weeks inflation in positive Zone, 0.12.%
The annual inflation rate rose to 0.12 percent for the week ended September 5. The Inflation rate has come in the positive zone one after 13 weeks. A week befare it was -0.12 according to the official data released today. After 1977 the inflation rate had turned negative for the first time for the week [...]
India o/n money rates barely moved; banks cash-flush
MUMBAI: Indian cash rates were little changed on Wednesday as mostly cash-rich banks easily met their funding needs for the fortnight, with just two days to go for the reporting Friday. Banks have to report their liabilities to the central bank on alternate Fridays and keep 5 per cent of their deposits with it as [...]
Markets trade flat amid mixed Asian cues
The key benchmark indices were flat in early trades on Friday. The benchmark Sensex rose 80 points to 15,861 levels and the Nifty was up 20 points at 4,707. Buying interest was seen in realty, capital goods and banking stocks. On the sectoral front, the realty index on the BSE gained 1 per cent and [...]
Budget 2009: Tax boost for infra loans?
Infrastructure is clearly the buzzword today and there is a strong likelihood of some goodies for lenders to the sector in the upcoming Budget to be presented on July 6. The hopes of many are riding on Pranab Mukherjee’s shoulders and among them, companies engaged in infrastructure development are expecting some relief for lenders to [...]
AI employees hold meeting over salary issue
Air India employees on Friday held a meeting at the gates of their offices, at the domestic and international terminals here, as token protest against the management’s decision to defer their salary payments by a fortnight. "About 400 members of Air Corporation Employees Union, a union of employees of erstwhile Indian Airlines, Aviation Industry Employee’s [...]
PM meets Pranab, Mamata ahead of Budget
Ahead of the Budget, Prime Minister Manmohan Singh on Friday met Finance Minister Pranab Mukherjee, Railway Minister Mamata Banerjee and other senior Cabinet colleagues, and is believed to have discussed issues concerning the state of the economy. The government is scheduled to table the Budget for 2009-10 in the first week of July, reflecting the [...]
Sensex surges on positive global cues
The key benchmark indices were trading higher in early deals following overnight gains in US markets. The benchmark index Sensex rose 138 points to 14,979 levels and the Nifty was up 0.7 per cent at 4,564. “The markets are likely to follow global cues and the rally may continue till the announcement of the budget,” [...]
Stress tests find 10 US banks need $75 bn more
Ten of the nation’s largest financial firms need to raise $75 billion more to withstand the losses that would come with a deeper recession, the government said Thursday in a report card that found the banking system viable but still vulnerable. The Federal Reserve, issuing the long-awaited results of its "stress tests" for banks, found [...]
