A quarter of the Air India's Boeing 787 co-pilots, trained at a cost of Rs 15 crore, are eyeing jobs as commanders. The state-owned airline operator is surviving on a bailout funded by the taxpayer.
After Tuesday’s sell-off, the markets look set for more losses ahead, with analysts raising red flags over muted private sector investments and declining exports, and foreign brokerages cutting their growth forecasts.
Finance minister Arun Jaitley had in his Budget for 2015-16 exempted FIIs from the levy from April 1. FIIs had argued that MAT is applicable only to domestic companies that had their base in India. By virtue of not being established in India, they should be "exempted".
Manufacturing sector grew at a slower pace in August as order flow turned sluggish and forced the companies to cut prices, a business survey showed on Tuesday, adding to the clamour for interest rate cut by RBI.
ATF or jet fuel price was slashed by a steep 11.7% on Tuesday, while rates of non-subsidised cooking gas LPG were reduced by Rs 25.5 per cylinder in line with dip in international prices.
Gold prices rose by Rs 175 to Rs 26,857 per 10 gram in futures trade after speculators widened positions amid a better trend overseas.
Indian market lost ground on Tuesday again as the benchmark BSE Sensex plummeted 587 points to close at over one-year low of 25,696.44 on intensified selling triggered by weak domestic and global macroeconomic data.
The rupee recovered by 10 paise to 66.38 against the US dollar in early trade Tuesday on increased selling of the American currency by exporters.
If the preferred yardstick is growth in gross value-added, growth has perked up sharply from 6.1% in Jan-Mar to 7.1% in the April-June quarter.
India's economic growth slowed to 7% in the three months through June from 7.5% in the previous quarter, government data showed on Monday.
Petrol price was cut by Rs 2 per litre and diesel by 50 paise on Monday evening, the third reduction in rates this month following global cues.
Pushing for an interest rate cut, Finance Minister Arun Jaitley said on Monday that inflation is under control and that oil and commodity prices are also low, while expressing hope that the Reserve Bank of India (RBI) would consider all of these factors in its monetary policy review.
The Reserve Bank of India on Monday listed India’s largest lender State Bank of India and ICICI Bank, the country’s largest private sector bank, as India’s two domestic systemically important banks (D-SIBs).
Infrastructure sector growth slowed to 3-month low of 1.1% in July as output of crude oil, natural gas and steel contracted, making a case for a further rate cut by the Reserve Bank.
Chinese stocks sank again on Monday, dragging most other Asian bourses lower amid uncertainty over US interest rates, reviving fears of a broader global economic slowdown that has rocked the world's financial markets.