In Opening Trade: Rupee gains 26 paise against US dollar

New Delhi :The rupee appreciated by another 26 paise to 70.44 against the US dollar in opening trade Wednesday after retail inflation fell to a 19-month low of 2.05 per cent in January. The weakness in the dollar against some currencies overseas as investors shifted their focus to riskier asset amid the US-China trade truce […]

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International Monetary Fund chief warns of high Arab public debt

New Delhi : Public debt has rapidly increased in many Arab countries since the 2008 global financial crisis, due to persistently high budget deficits, the International Monetary Fund warned Saturday. “Unfortunately, the region has yet to fully recover from the global financial crisis and other big economic dislocations over the past decade,” IMF Managing Director […]

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RBI raises collateral – free farm loan limit to Rs 1.6 lakh

New Delhi :The Reserve Bank of India (RBI) Thursday raised the limit of collateral-free agricultural loans to Rs 1.6 lakh from the current Rs 1 lakh with a view to help small and marginal farmers. The central bank also decided to set up an internal working group (IWG) to review agricultural credit and arrive at […]

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Amitabh Kant said – ‘ Urbanisation to be big driver of Indian economic growth ‘

New Delhi : Urbanisation will be a big driver of economic growth in India going forward, supported by favourable macroeconomic factors, accelerated infrastructure building and continuing reforms, NITI Aayog CEO Amitabh Kant said Wednesday. Speaking here at an event on sidelines of the World Economic Forum Annual Meeting, he also said the Indian economy may […]

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Again Rupee Rises 14 Paise Against US dollar in Early Trade

New Delhi :The rupee on Thursday appreciated by 14 paise to 70.32 against the US dollar in early trade amid weakness in the American currency on uncertainty over Federal Reserve rate hikes following the release of Fed meet minutes. Forex traders said the weakness in the US dollar against other currencies overseas, falling crude oil […]

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Chief financial officer of Huawei arrested in Canada

NEW DELHI: The chief financial officer of China’s global telecommunications giant Huawei has been arrested in Canada and faces extradition to the United States on suspicion she violated U.S. trade sanctions against Iran. Meng Wanzhou, also known as Sabrina Meng and Cathy Meng, was apprehended in Vancouver on December 1, according to Canadian Justice Department spokesman Ian […]

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WhatsApp chief writes to RBI to expand payment services to all users in India

NEW DELHI: WhatsApp Chief has written to the Reserve Bank of India (RBI), seeking a formal nod to expand payments services to all its 200 million users in India. The development comes at a time when competitors such as Google have forged ahead with their payments offerings. The letter, dated November 5, mentions that WhatsApp’s partner banks have […]

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‘Please take it’ Vijay Mallya ‘offers to repay 100%’ to banks

NEW DELHI: Beleaguered liquor baron Vijay Mallya  who is being investigated for fraud and money-laundering, appealed to various Indian banks to accept  the full amount of the principal loan he owed various banks and slammed the Indian media for repeatedly calling him a defaulter. In a series of tweets, the businessman asserted that the loan amount was used in recovering […]

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Nissan’s former chairman Carlos Ghosn denied all allegations of financial misconduct

NEW DELHI: Nissan’s former chairman Carlos Ghosn who was detained by police and dismissed by Nissan last week has denied allegations of financial misconduct against him. He was arrested alongside fellow Nissan board member Greg Kelly on Monday. Mr Ghosn, a car industry titan who led the Renault-Nissan alliance, has not spoken publicly since the scandal broke this […]

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Ranjan Mathai Jet Airways board as independent director quits his post

MUMBAI:  Former diplomat Ranjan Mathai has resigned as an independent director of jet airways  to his other commitments. Mathai, who is the former Indian Foreign Secretary and Indian High Commissioner to the UK was onboard since March 2017. “I am no longer able to devote the time required to meet my obligations, as an independent director on the Board […]

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