Mumbai | June 20, 2013 01:33 (IST)
Terming rupee depreciation as a sign of falling competitiveness of the domestic economy, Uday Kotak, vice-chairman and managing director of Kotak Mahindra Bank, said on Wednesday that efforts should be made to increase productivity rather than only relying on short-term measures.
Washington | June 20, 2013 01:10 (IST)
US Federal Reserve chairman Ben Bernanke said on Wednesday that the US central bank expects to slow the pace of its bond purchases later this year and bring them to a halt around the middle of 2014, comments that weighed on stocks and pushed bond yields to a 15-month high.
June 20, 2013 00:23 (IST)
The US Federal Reserve said on Wednesday that it would keep buying $85 billion in bonds per month and gave no explicit indication that it was close to scaling back the program, despite intense market speculation it could soon start drawing it to a close.
Washington | June 19, 2013 23:44 (IST)
The US Federal Reserve on Wednesday said it would keep buying $85 billion in bonds per month and gave no explicit indication that it was close to scaling back the program, despite intense market speculation it could soon start drawing it to a close.
New Delhi | June 19, 2013 21:26 (IST)
Foreign direct investment (FDI) in India has declined by 6 per cent to $5.47 billion during January-March quarter of the current year even as the government is making efforts to promote the country as an investment destination.
Washington | June 19, 2013 16:00 (IST)
Chairman Ben Bernanke will be pressed to settle the wave of confusion and speculation that's consumed investors since he spoke to Congress last month about the Fed's drive to keep long-term interest rates at record lows.
New Delhi | June 19, 2013 13:59 (IST)
The decision, which could dampen global prices further and help the world's second-biggest wheat producer cut swollen stocks, may come at a cabinet meeting on Friday.
Mumbai | June 19, 2013 11:32 (IST)
Foreign investors have sold $4.7 billion in government debt over 18 consecutive sessions until Friday as the rupee has slumped to a record low, thus eroding returns.
Washington | June 19, 2013 10:45 (IST)
Bernanke will likely take care to draw a bright line between the possibility of a slower pace of bond purchases, which would still add stimulus to the economy, and an actual tightening of monetary policy that would take it away.
Washington | June 18, 2013 23:14 (IST)
A coalition of US business groups on Tuesday demanded President Barack Obama's administration increase pressure on India to change trade policies that they said threaten US exports, jobs and innovation.
Islamabad | June 18, 2013 22:53 (IST)
With efficacy of recent steps by New Delhi to curb gold import yet to be tested, the Reserve Bank of India (RBI) said on Tuesday that the country would have to increase exports to deal with its high current account deficit.
New Delhi | June 18, 2013 19:10 (IST)
A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the current account deficit woes.
New Delhi | June 18, 2013 14:09 (IST)
The board, headed by Economic Affairs Secretary Arvind Mayaram, also cleared the Rs 962 crore proposal of Vijay Television for acquisition by foreign promoters.
June 17, 2013 19:12 (IST)
The indirect tax collection for the month of April-May was Rs 71,379 crore, while the customs duty collection and service tax collection for the period were Rs 28,080 crore and Rs 19,710 crore, respectively.
June 17, 2013 18:53 (IST)
The government is keen on increasing FDI ceilings to attract more inflows, and finance the widening current account deficit.
June 17, 2013 18:01 (IST)
According to RBI trade deficit widened to $20.1 billion in May from $17.8 billion a month ago. Gold and silver imports rose nearly 90 per cent to $8.4 billion in May.
June 17, 2013 16:45 (IST)
Ruling out the possibility of cutting lending rates after Reserve Bank kept key rates unchanged, bankers today said the central bank decision to hold the rates was on expected lines given the troubles on rupee and high current account deficit.
New Delhi | June 17, 2013 15:02 (IST)
India has been struggling to control the current account deficit that hit an all-time high of 6.7 per cent of the gross domestic product (GDP) in the December quarter. The deficit has exacerbated the fall of the Indian rupee against the dollar in the recent sell-off in emerging currencies.
Mumbai | June 17, 2013 12:04 (IST)
The RBI also called for vigilance over global economic uncertainty, citing the risks of a reversal of capital flows from emerging markets. Such outflows would exacerbate the country's high current account deficit.
June 17, 2013 11:30 (IST)
Chairman of Economic Advisory Council to the Prime Minister C. Rangarajan told NDTV that the Reserve Bank has taken a "cautious view" by not cutting interest rates and the central bank's decision was "largely influenced by external sector considerations".