HindustanTimes Wed,17 Sep 2014


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

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.

Rajan bats for more freedom to state-run banks

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.

Brent at $97, steep petrol price cut likely

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.

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

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.

Rate cut only when inflation is under control, says 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.

PM Modi pushes for GST, chairs crucial meet

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.

Wholesale inflation at 5-year low, food prices dip

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.

Cognizant to buy TriZetto for $2.7 billion to boost healthcare business

In the largest acquisition by an India-centric IT services company, Cognizant Technology Solutions is set to buy US-based TriZetto for $2.7 billion ( Rs. 16,500 crore) from private equity firm Apax Partners in an all-cash deal.

India's export growth slips to 2.35% at $26.95 bn in Aug

Continuing the downtrend, India's export growth slipped to 2.35% at $26.95 billion in August, pushing up trade deficit to $10.83 billion.

ArcelorMittal, Gerdau to sell US steel mill for $770 million

World's biggest steel producer ArcelorMittal on Monday said it has inked a pact with Brazil's Gerdau to sell their 50% stakes in US-based Gallatin for $770 million, as part of its strategy to divest non-core assets.

Sensex, Nifty fall most in over 5 weeks on weak global cues

The benchmark BSE Sensex tumbled over 185 points to dip below the 27,000-mark in early trade on Monday on selling by funds and retail investors after industrial production growth slowed to 0.5% in July amid a weak trend in the Asian region.

Rupee dips to 1-mth low of 61.13 vs dollar

The Indian rupee fell 48 paise on Monday, its sharpest plunge in more than five weeks, closing at 61.13 against the dollar, the lowest since August 13.

Six years after Lehman Brothers collapse, the world remains fragile

Six years have passed since the collapse of Lehman Brothers Holdings Inc on 15 September 2008 but rising asset prices in recent times would have us believe that world economy has moved on.

India’s richest eye slice of Alibaba’s mega $21.1-billion IPO

Chinese e-commerce giant, which is looking to raise a mammoth $21.1 billion (Rs 126.6 lakh crore) by listing on the United States stock market, is generating huge interest among investors worldwide, including among high net worth individuals in India.

Indiabulls: Promoters carve out new paths in separation deal

The Indiabulls promoters are dividing the real estate-to-finance-to-power group among themselves to bring greater focus to the constituent parts of the diversified conglomerate and also because of differing perceptions about individual companies.
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