Search Results for: economic recession

bse-closes-points-148-12-up-on-october-1

BSE closes points 148.12 up on October 1

New Delhi, October 1 (ANI): Trading at the Bombay Stock Exchange today closed 148.12 points up to stand at 19527.89. At the National Stock Exchange the Nifty closed 44.75 points up to stand at 5,780.05. Jain Irrigation and Amara Raja were among the top gainers of Group A with an increase of 7.66% and 7.33% along with Tata Communications and DLF Ltd. with an increase of 6.82% and 6.58% respectively, while the top losers of Group A include Wockhardt and Tata Power with a decrease of 5.00% and 3.82% along with Castrol India and Container Corp with a decrease of 3.40% and 3.13% at the close of the markets. The Auto sector is up 118.21 points at 11,114.80 while the banking sector is up 292.86 points at 11,257.05 and the realty sector is up 31.02 points at 1,201.35. The Indian currency is up 0.35% at Rs 62.38 per dollar. Oct 1, 2013
india-will-fully-finance-current-account-deficit-arvind-mayaram

India will fully finance current account deficit: Arvind Mayaram

New Delhi, Oct 01 (ANI): India's Economic Affairs Secretary, Arvind Mayaram, said on Tuesday that the country would finance its current account deficit fully in the fiscal year ending March without drawing down on its reserves, and would also contain the fiscal deficit at 4.8 percent of GDP. He also said that economic growth will pick up in the second half of the fiscal year. Mayaram while addressing a news conference in New Delhi expressed confidence and said that they would be able to contain the current account deficit. Mayaram added that the government would not have to go beyond the finance ministry's planned market borrowing for the year, and would be able to meet its budgeted revenue target. Mayaram also said that the elevated level of current account deficit was mainly due to gold imports. Oct 1, 2013
a-woman-poses-with-a-nokia-lumia-smartphone-in-this-photo-illustration-in-the-central-bosnian-town-of-zenica-may-6-2013

Nokia in Tax Dispute with Indian Authorities

Finnish mobile handset manufacturer Nokia is in a dispute with the Indian tax authorities over a tax bill of Rs.2080 crore. The Finance Ministry's income tax department claims that Nokia has evaded taxes on software downloaded on the mobile handsets manufactured in Nokia's Sriperumbudur facility. Nokia has denied these claims. Oct 1, 2013
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BSE closes points 400.36 down on September 30

New Delhi, Sep 30 (ANI): Trading at the Bombay Stock Exchange today closed 400.36 points down to stand at 19,326.91. At the National Stock Exchange the Nifty closed 97.90 points down to stand at 5,735.30. Britannia Industries and Gujarat State Petronet Ltd. were among the top gainers of Group A with an increase of 6.23% and 5.58% along with ING Vysya Bank and Shree Cement with an increase of 5.11% and 3.62% respectively, while the top losers of Group A include Essar Oil and Financial Technologies with a decrease of 7.61% and 6.43% along with Tata Steel and Yes Bank with a decrease of 5.65% and 5.63% at the close of the markets. The Auto sector is down 175.98 points at 10,985.72 while the banking sector is down 320.07 points at 10,964.19 and the realty sector is down 24.99 points at 1,170.33. The Indian currency is down 0.13% at Rs 62.59 per dollar. Sep 30, 2013
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India talks tough on terror, tells Pak security first; then trade

New York, Sep 30 (ANI): National Security Advisor Shivshankar Menon said India took a hard stand on security and terror-related issues with Pakistan during a meeting between Prime Ministers Manmohan Singh and Nawaz Sharif, and said trade and economic understanding can and will only be taken up after a solution is arrived at on ways to end such attacks. Menon stressed that the secondary issue of trade would take place only after the 'precondition' of security along the border is taken care of. Prime Minister Manmohan Singh and his Pakistani counterpart Nawaz Sharif had met on the sidelines of the United Nations General Assembly amid heightened tension between the neighbours over Kashmir. Sep 30, 2013
pak-calls-for-timely-interaction-with-india-to-resolve-all-outstanding-issues

Pak calls for timely interaction with India to resolve all outstanding issues

New York, Sep 30 (ANI): Pakistan Foreign Secretary Jalil Abbas Jilani said that interaction with India on regular basis and tackling militancy are issues of concern for both India and Pakistan. He was commenting on the dialogue between the Indian Prime Minister Manmohan Singh and his Pakistani counterpart Nawaz Sharif. Jilani said that Sharif had always desired to pursue a foreign policy that seeks peace and economic cooperation between the neighbouring countries and added that the meeting reasonably emphasised the need of timely interaction between the two. Sep 30, 2013
bse-closes-points-183-81-down-on-september-27

BSE closes points 183.81 down on September 27

New Delhi, September 27 (ANI): Trading at the Bombay Stock Exchange today closed 183.81 points down to stand at 19,710.04. At the National Stock Exchange the Nifty closed 49.05 points down to stand at 5,833.20. United Spirits and Videocon Industries Ltd. were among the top gainers of Group A with an increase of 6.12 % and 6.05% along with BPCL and MRF with an increase of 5.62% and 5.41% respectively, while the top losers of Group A include Financial Technologies (India) Ltd. and Jaiprakash Associates Ltd. with a decrease of 6.24% and 5.47% along with TV18 Broadcast and BHEL with a decrease of 5.30% and 5.32% at the close of the markets. The Auto sector is down 46.79 points at 11,145.69 while the banking sector is down 220.74 points at 11,273.91 and the realty sector is down 19.82 points at 1,193.41. The Indian currency is down 0.50% at Rs 62.38 per dollar. Sep 27, 2013
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Manmohan Singh to meet Obama to discuss bilateral issues

Washington DC, Sep 27 (ANI): Prime Minister Manmohan Singh will meet US President Barack Obama on Friday, a day after he arrived in Washington DC in the USA, to discuss a host of issues related to defence, economic, bilateral and multilateral concerns. India is making a last-minute push to close a nuclear deal in time for a meeting between Obama and Singh, who has made atomic energy cooperation with Washington a hallmark of his tenure. Commenting on this proposed meeting with Obama, he said they would review the progress that has been made and also what further could be done to strengthen it. India aims to lift its nuclear capacity to 63,000 megawatts in the next 20 years by adding nearly 30 reactors. Sep 27, 2013
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Raghuram Rajan report will help Bihar get more financial aid: Nitish Kumar

Patna, Sep 26 (ANI): Bihar Chief Minister Nitish Kumar on Thursday hailed the Raghuram Rajan panel report that has ranked Bihar among India's least advanced states. Kumar said that the report will pave the way for getting more funds from the Centre for development in his state. He was speaking after release of a report of a panel headed by then Chief Economic Advisor Raghuram Rajan, now RBI Governor. The report has made a case for ending the "special category" criteria for providing additional assistance to poorer states and has suggested a new matrix to decide on which states should get the most financial assistance from the Centre. The report ranked Goa and Kerala as the most advanced state and Odisha and Bihar the least. Sep 26, 2013
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India raises non-immigration visa issue with US

New York, Sept 26 (ANI): India expressed its concern to US over the much sought after H1-B visas and added that they have addressed the economic apprehensions of the latter. Indian IT firms which operate in the United States are angered by restrictions on travel visas for skilled workers. India's Foreign Minister, Salman Khurshid met US secretary of state John Kerry and discussed plethora of bilateral issues ahead of the meeting between U.S. President Barack Obama and Indian Prime Minister Manmohan Singh on September 27 in Washington. Khurshid added that the US is yet to address the issue of H1-B visas. He added that both the nations discussed the steps that need to be taken to enhance economic cooperation between the two countries. Khurshid also met Chinese Foreign Minister Wang Yi at the UNGA and discussed about the preparations ahead of Singh's visit to China. Khurshid also spoke about the agenda of the proposed talks between the prime ministers of India and Pakistan. Sep 26, 2013
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