There is a wide view in the financial circles that interest rates are unlikely to make a downward trend anytime soon. Recent reports by various banking institutions including ICICI propagate this view. Stability in interest rates can be seen but the chances of its easing down presently are somewhat difficult. The present scenario of firm [...]
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Indian Oil Corporation has sought discounts from energy major Cairn for buying its crude output from Rajasthan. The demands are based on the fact the said crude is waxy and heavy than normal crude that IOCs pipeline carries. The state run oil refinery is seeking a discount in the range of $15 to $18 per [...]
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The Indian stock market is feeling the heat of the worldwide financial crisis and on Wednesday the Bombay Stock Exchange (Sensex) fell below the 11,000 mark by shedding more than 500 points during the early trading session. The major stocks that are badly hit on Wednesday include Infosys Technologies and Reliance Industries that plunged over [...]
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Anil Ambani’s Power Purchase Agreement (PPA) has guaranteed his 4,000-MW Ultra Mega power project (UMPP) in Sasan of fourteen buyers from seven different states. This project will be commissioned somewhat earlier than the scheduled date. As per the new pact, the commissioning of first unit has been advanced by a period of 16 months, shifting [...]
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The Aviation Industry is facing its toughest times, for sure. Companies have been trying to do whatever they can to cut costs and remain competitive. Employees not even confirmed for their jobs are being handed over pink-slips. One after the other, every known group is sacking its people, be it a crew member or management [...]
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Export rate is an important indicator of an economys growth rate as there is a direct relationship between both these concepts. As per the Bureau report published as on 3rd August, exports growth rate is falling consecutively for nine months and specifically in June, it plummets around 27.7% which amounts to $12.82 billion as compared [...]
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Indian Steel Minister Ram Vilas Paswan in an announcement said that the government would take into consideration the proposal of imposing a 5 percent import duty presented by major industry players like Tata and SAIL. In a press interview Paswan told to reporters, “It is a matter of survival for our steel firms. Tata, SAIL, [...]
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Countries that make up G-8, Germany, Japan, United States, Britain, Italy, Russia, Canada and France are to hold a meeting in near future. This would be to devise measures to handle the chaos occurring on the Financial front. The meet is most likely to take place in November. Among the recommenders of the meeting were [...]
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The Reserve bank of India continuing its move to stabilize the Indian banking system fed another Rs 65000 crore by cutting down the mandatory Cash Reserve Ratio (CRR) for banks by one percent and by disbursement of funds under farm debt waiver scheme. The Central bank also promised to take more such measures if needed. [...]
The shaking global economy has off late made the BSE Sensex dropping below the 11000 mark. After the SEBI’s decision regarding the tightening up of margins in derivatives the Sensex plunged to its lowest of more than 2 years. The Sensex dropped by 6.98 percent or 754.08 points. Latest measures by RBI of cutting down [...]