Why rising rupee is a big headache for India’s garments industry
August 17, 2017(Agencies) For the first time in the history of India’s garment exports to the US, the country has clocked top position in market share in the category ‘men/boys knitwear shirts cotton’ (a variety of knitwear) for the first six months of 2017. This was attributed to the slowdown in China. Exporters, however, said […]
HDFC Bank cuts savings rate to 3.5% for deposits less than Rs 50 lakh
August 17, 2017 Private sector lender HDFC Bank has reduced interest rate on savings bank accounts by 50 basis points to 3.5 per cent on deposits up to Rs 50 lakh. However, the bank will continue to pay 4 per cent interest on deposits of above Rs 50 lakh. “Post revision, customers maintaining savings bank […]
India bans exports of gold products above 22 carats
(Reuters) – India has banned the export of gold products with a purity above 22 carats in a move a trade group said was a bid to curb a practice known as “round tripping”. The Directorate General of Foreign Trade issued a notification dated Aug. 14 that stated exports of jewellery or medallions, containing gold […]
Sensex ends at 1-month low, hit by losses for 4th day
August 10, 2017 The benchmark Sensex plummeted 267 points to hit a one-month low of 31,531 and the Nifty crashed below 9,900 on Thursday as investors exited, unnerved by sliding global shares due to stand-off between the US and North Korea. Both fell for the fourth straight day. North Korea upped the ante, defying the […]
Ministries want cut in bio-diesel GST, new bio-fuels policy
New Delhi, Aug 10 (IANS) The Union Petroleum and Road Transport Ministries will ask for a reduction in GST on bio-diesel from the current 18 per cent to 5 per cent while a note on a new policy on bio-fuels is to be placed for cabinet approval soon, it was announced on Thursday. “Along with […]
IT, teck stocks drag Indian equities lower
Mumbai, Aug 7 (IANS) Despite positive global cues, the Indian equity markets provisionally closed on a flat-to-negative note on Monday as investors booked profits. Heavy selling pressure was observed in IT, teck (technology, media and entertainment) and consumer durables stocks. At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at […]
Q1 earnings, auto sales results buoy Indian equities
Mumbai, Aug 5 (IANS) The key Indian equity indices extended gains for the fifth consecutive week and scaled new record highs on the back of healthy quarterly earnings as well as auto results, coupled with positive global cues. Although profit booking dragged the indices from their heights, some late buying observed on Friday pulled the […]
Apple to launch watches that can make calls: Bloomberg
(Reuters) – Apple Inc (AAPL.O) plans to release a version of its smartwatch later this year that can connect directly to cellular networks, Bloomberg reported on Friday, citing people familiar with the matter. Some of the new models for the Apple Watch will be equipped with LTE chips and be able to perform many tasks […]
Gold steady near 7-week highs ahead of U.S. jobs data
August 2017 LONDON (Reuters) – Gold steadied on Friday near a seven-week high as the dollar traded at near 15-month lows in the wake of weak U.S. data and political turmoil in Washington, though traders were mostly biding their time ahead of key U.S. jobs data due later. Data late Thursday showed a much sharper […]
Prices of subsidised LPG zoom 16% since Modi took charge
August 04, 2017 The prices of subsidised cooking gas zoomed by 16 per cent, from Rs 414 per cylinder when the Bharatiya Janata Party (BJP) government came to power in May 2014 to Rs 479.77 in August 2017, despite global crude oil prices dipping by about 49 per cent. The Narendra Modi-led government had stormed […]
