Re logs second worst closing at 56.15/dollar
Mumbai: Continuing its slide for the third day in a row,the rupee declined by 19 paise to end at 56.15,its second lowest closing in history,against the US currency as cautious importers,especially oil companies,bought dollars in late trade ahead of outcome from the key US Federal Reserve meeting.
Fed twists again,extends stimulus to weak economy
WASHINGTON: The Federal Reserve has moved to buttress a US economic recovery,extending a scheme to lower borrowing costs by selling short-term bonds and buying longer-dated ones. Expressing concern about strains in global financial markets emanating from Europe,the Fed said it would expand its Twist scheme by swapping $267 billion in Treasury securities in 2012.
EGoM likely to discuss spectrum price today
New Delhi: An Empowered Group of Ministers is likely to meet on Thursday to discuss crucial issues of spectrum price,payment terms and network roll-out obligations for auction of airwaves due before August 31.
Educomp ties up $155 mn to repay FCCBs
Mumbai: Educomp Solutions has tied up $155 million worth funds to pay off its existing overseas borrowings,as also to fund its capital expenditure.
Sharp rise in Sebi investigation cases
Mumbai: There has been a sharp rise in the number of cases taken up for investigation by Sebi. The number of investigation cases increased to 154 in 2011-12 as against 104 in 2010-11 and 71 in 2009-10.
Orissa starts transferring 1,500 acres to Posco
Mumbai: After seven years of delay,the Posco steel project will start moving ahead soon as Orissa has started transferring around 1,500 acres to the Korean steel major to set up an 8-million tonne plant in the first phase,Orissa steel and mines minister Raghunath Mohanty said.
SBI to reduce lending rates to exporters soon
Mumbai: Within days of the Reserve Bank increasing the export refinancing limits of banks,State Bank of India on Wednesday said it will soon bring down interest rates on loans to exporters.
Sensitive item imports crossed R1 lakh cr in FY12
New Delhi: Import of sensitive items,including fruits,vegetables and edible oils,for the first time has crossed Rs 1 lakh crore during 2011-12.
RIM launches R1.39 lakh phone in India
Mumbai/Toronto: Blackberry-maker Research In Motion on Wednesday launched the BlackBerry Porsche P-9981 priced at Rs 1.39 lakh. RIM also said that it has started laying off employees as part of a restructuring plan.