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HindustanTimes Mon,22 Dec 2014

Business

Rupee down 19 paise at 63.30 against US dollar

The rupee on Friday lost 19 paise against the US dollar at 63.30 at close as initial gains were washed out on account of strong demand for the US currency from oil companies even as stock markets were bullish.

Sensex, rupee rally as Fed talks up markets

Indian stock and currency markets staged a pull-back rally on Thursday as global markets surged after the US Federal Reserve said a rate hike was unlikely in the short-term, and the NDA Cabinet cleared the Constitutional Amendment Bill on GST.

Co-founder Ajay Singh heads SpiceJet rescue op

A clutch of investors lead by former director and co-founder Ajay Singh is set to pick up a significant stake in the embattled SpiceJet, leading to an immediate capital infusion of Rs. 1200-1500 crore in the budget carrier that is staring at a shut down.

When SpiceJet’s loss is gain for other airline companies

The first official confirmation that SpiceJet’s unending woes were aiding rival carriers came on Thursday when aviation regulator DGCA released the passenger data for November.

PM Modi steps in to speed up stuck projects

Narendra Modi, who has a pro-business image, has faced criticism in recent weeks that his ambition to spur investment and boost economy has yet to be realised, more than six months after he won the LS polls.

Private sector execs may head govt banks

In a major shift from its earlier policy stance, the government and the selection committee responsible for the appointments of public sector bank chiefs, could turn to private sector lenders to rope in the best talent.

Outlook positive, but Russia, gold imports hold key to rupee

The rupee snapped a three-day losing streak, spurred by the news that the US Federal Reserve will not likely raise interest rates till mid-2015, reversing days of sell-offs that had spooked emerging market currencies in the last few days.

US Federal Reserve to take ‘patient’ approach on raising rates

The US Federal Reserve on Wednesday said interest rates will remain where they have been since 2008, near zero, but indicated a hike may come around the middle of 2015.

Govt releases draft rules for e-auction of cancelled coal blocks

The government on Thursday released draft rules for e-auction of cancelled coal mines in an approach paper that is open for public consultation. The coal ministry has sought comments from stakeholders by Monday.

Kolkata-based public sector shipyard eyes foreign orders

A Kolkata-based public sector shipyard is trying to get a toehold in the international market, eyeing orders worth Rs. 2,600 crore to supply warships to the navies of the Philippines and Vietnam.

SpiceJet resumes operation, pays cash to buy jet fuel

Troubled airline SpiceJet resumed operations on Wednesday after being forced to cancel over 150 flights with oil marketing companies refusing to refuel its planes forcing the budget carrier to pay Rs 3 crore last evening to buy jet fuel.

Coal India workers threaten 5-day strike, stokes output worries

The labour unions of state-run Coal India Ltd have threatened to go on a five-day strike beginning January 6 to protest government plans to sell off a stake and end the company's monopoly in mining and distribution.

Rupee up 40 paise against dollar in early trade

After three sessions of weakness, the rupee strengthened by 40 paise to 63.21 against the dollar in early trade on Thursday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amidst higher opening in the domestic equity market.

Cabinet okays GST Bill; next stop Parliament

Plans to introduce India’s most ambitious reform initiative, the unified Goods and Services Tax, has entered the final leg, with the Cabinet on Wednesday approving a fresh Constitution Amendment Bill.

Co-founder Ajay Singh may be SpiceJet’s white knight

HT had first reported on August 7 that Singh was in talks to buy out promoter Kalanithi Maran’s stake in the airline. Singh has held meetings with senior aviation ministry officials over the last couple of days, sources said.
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