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HindustanTimes Wed,17 Sep 2014

Business

Sensex, Nifty fall most in 7 weeks ahead of US Fed policy meet

stock broker
In their worst single-day drop in nearly 7 weeks, Sensex on Tuesday plunged 324 points and Nifty tanked 109 points on across-the-board selling on caution ahead of the outcome US Federal Reserve's monetary policy meeting.

Rs 25K-crore branded foods held up at ports

Chocolates

From Swiss chocolates to premium whiskies, from canola oil to non-alcoholic beverages — food products worth Rs. 25,000 crore are stuck in India’s various ports or being re-exported because of what the industry calls as arbitrary regulatory scrutiny.

Android One set to force Samsung into price war

Android One phone

With Google throwing its tech might behind India’s low-cost phone makers, Micromax, Karboon and Spice, while introducing the Android One operating system, South Korean giant Samsung, which was conspicuously absent, may now have to enter into a price war at the bottom of the smartphone pyramid.

Croma, Snapdeal.com tie-up to sell electronic goods online

Snapdeal

Tata Group-promoted Infiniti Retail, which runs consumer durables chain Croma, have entered into a strategic partnership with e-commerce firm Snapdeal.com, where Croma will open its brand store on Snapdeal’s marketplace to tap more customers.

India can become major export hub by 2030: HSBC

Textile

India has the potential to become the world’s fifth-largest exporter of goods by 2030 with the textile industry set to regain its place as the global garment hub, an HSBC report said.

Sensex recovers 44 points in early trade

Bombay Stock Exchange
The benchmark BSE Sensex gained over 44 points in early trade on Tuesday on emergence of buying by funds and retail investors in select stocks.

Rajan bats for more freedom to state-run banks

Raghuram Rajan
Batting for greater autonomy to state-run lenders, RBI governor Raghuram Rajan said on Monday the government should look at them as truly "independent entities" that take their own commercial decisions and not as an extended arm of the administration.

Export growth hits 5-mth low in August, trade deficit widens

Tokyo port
India’s export growth slumped to a five-month low of 2.35% in August at $26.95 billion, while trade deficit jumped to $10.83 billion, a four-month high on the back of surging gold imports.

PM Modi pushes for GST, chairs crucial meet

Tokyo port

PM Narendra Modi on Monday took stock of India’s biggest tax reform initiative — Goods and Services Tax — with the government planning to introduce the Constitution Amendment Bill during the winter session.

Rajan warns on excessive FII inflows

Raghuram Rajan

Reserve Bank of India governor Raghuram Rajan on Tuesday cautioned over reliance on overseas fund inflows and said that caps on foreign institutional investors’ investments in debt should be continued.

Norms for fresh bank licences by March: RBI

RBI

The Reserve Bank of India (RBI) on Tuesday said it will issue final guidelines for on-tap universal banking licences before the end of 2014-15.

Govt to decide on diesel deregulation after state polls

A car owner
The local prices of the fuel are currently higher than the global rates, making a case for a cut in retail prices.This is for the first time this has happened,  due to a sustained monthly rise in local prices since January 2013.

Rupee rebounds from 1-month lows, up 8 p Vs dollar to end at 61.05

Currency
Bucking a weak trend in stocks, the Indian rupee on Tuesday recovered from one-month lows to end with a modest gain of eight paise at 61.05 against the Greenback on fresh dollar selling by exporters.

Brent at $97, steep petrol price cut likely

Deepwater Horizon
After the Rs. 5 a litre cut in petrol prices during August, the continuous fall in the global oil prices to a 26-month low of $96.91 per barrel is expected to result in yet another substantial cut in the prices.

Rate cut only when inflation is under control, says Rajan

Raghuram Rajan
RBI governor Raghuram Rajan on Monday said India’s economic growth was uneven and there was still some 'way to go' before 'we are out of the woods', and that the central bank would cut interest rates only when inflation is under control.

Wholesale inflation at 5-year low, food prices dip

Food inflation down
India’s wholesale inflation rate plunged to 3.74% in August, the lowest in almost five years, aided by a sharp drop in vegetable and petrol prices, data released Monday showed.
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