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HindustanTimes Fri,19 Dec 2014

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SpiceJet’s loss is gain for other airlines

The first official confirmation that SpiceJet’s unending woes were aiding rival carriers came on Thursday when aviation regulator, the Directorate General of Civil Aviation, released the passenger data for November.

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.

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.

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.

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.

Russia finance ministry selling reserves to support ruble

The Russian currency has come under heavy selling pressure this week, forcing the central bank to hike its key interest rate by 650 basis points, in an emergency move that did little to buttress the currency.

Sensex extends losses to 5th day; ends 71 points lower

The BSE benchmark Sensex regained most of the steep losses it suffered in early trade, but still ended the day 71 points lower at 26,710.13 after a highly volatile trade amid continuing investor worries over global economy.

Rupee, bonds continue to fall; foreign fund flows key

The rupee fell a 13-month low against the dollar on Wednesday while benchmark bond yields hit their highest level in two weeks as the brewing financial crisis in Russia continued to raise concerns about foreign fund outflows.

Lifeline for SpiceJet: Govt will ask banks to lend Rs. 600cr to airline

The aviation ministry said on Tuesday that banks and financial institutions will be requested to lend up to Rs. 600 crore to SpiceJet, backed by a personal guarantee from its promoter, media tycoon Kalanithi Maran.

Brent crude drops below $59, weak rupee could negate gains for India

Global crude oil prices fell to $58.50 a barrel on Tuesday, the lowest since May 2009, amid signs of slowing factory activity in China, the world’s second-largest economy and a major oil consumer.

India world No. 4 in black money outflow over 10 years

With a total $439.59 billion (Rs 28 lakh crore), India has jumped one rank to become the fourth-largest exporter of illicit outflows over a 10-year period from 2003-2012.

Sensex posts biggest fall this year, dips 538 points on sell-off

The benchmark BSE Sensex slumped below the 27,000-mark and the NSE Nifty broke the 8,200-level in late morning trade on Tuesday on sustained selling across the board.

Rupee ends at 63.53 per dollar

The US dollar ended sharply dearer against the rupee at 63.53/54 per dollar.The pound sterling also finished higher at Rs. 99.84/86 per pound at the Interbank Foreign Exchange market.
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