Business

Hong Kong: 

Weaker economic growth and tepid price pressures in Asia will leave central banks in the region with few reasons to tighten policy next year -- especially as US rate hikes slow -- unless a new bout of currency weakness forces them to do so. The Federal Reserve on Wednesday raised rates for the fourth time this year, as expected, but

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Air India, which has $8 billion debt on its book, hasn't made money in more than a decade.

The government of Prime Minister Narendra Modi sought Parliament's approval for an equity infusion of Rs 2,300 crore ($330 million) in Air India, effectively ruling out an immediate revival of its plan to sell the ailing carrier.

PM Modi's bid to turn the

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MAB is the sum of all EOD closing balance divided by the number of days in that month.

Most of the banks in the country require customers to maintain a certain Monthly Average Balance or MAB in their savings bank accounts, failing which they have to bear certain penalty charges. Monthly Average Balance (MAB) is the sum of all the end of day (EOD)

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Jayesh Sanghrajka will resume his role as Deputy CFO from March 1, 2019.

Software services exporter Infosys named Nilanjan Roy as its chief financial officer, the company said on Thursday. Nilanjan Roy, who was the global chief financial officer with telecom company Bharti Airtel, will join the Bengaluru-headquartered Infosys on March 1, 2019.

Roy

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Sovereign held steady at Rs 25,000 per piece of 8 grams on little doing.

Gold prices today rose by Rs 150 to close at Rs 32,000 per 10 grams at the bullion market in the national capital, reported news agency Press Trust of India. The yellow metal followed a firm trend overseas amid fresh buying by local jewellers. Gold prices shot up on the back

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Items likely to get cheaper include air conditioners, water heaters, paints and perfumes

Air-conditioners (ACs), refrigerators, washing machines, digital cameras and video games are set to become cheaper with the government preparing to lower the Goods and Services Tax (GST) on most consumer goods, sources told TheIndianSubcontinent on Wednesday.

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The rupee has appreciated by 220 paise, or 3.1%, in four sessions in a row

The rupee strengthened by 69 paise, or about 1 per cent, against the dollar on Thursday. That marked the fourth consecutive day of rise in the rupee against the greenback, and its highest closing level recorded since November 30. The

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The government had earlier announced a plan for an infusion of Rs 2.11 lakh crore in 20 state banks

New Delhi: 

The government plans to increase its capital infusion into some state-run banks to Rs 1.06 lakh crore ($15.13 billion) in the current fiscal year ending in March, a finance ministry source said on Thursday.

The official was speaking after

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Government will also seek an interim dividend from the RBI, said the economic affairs secretary.

NEW DELHI: Finance ministry is likely to seek approval from parliament for additional funding for state-run banks on Thursday, Economic Affairs Secretary Subhash Chandra Garg said. The proposal will be part of the overall supplementary demand for grants

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According to him, India is ranked among the top 10 countries in terms of market capitalisation.

Global capital markets which have been volatile in the current year are likely to remain volatile. The volatility in Indian equity market at 12 per cent, during the current fiscal upto mid-December, is among the lowest compared to major developed and

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Mahesh Narayanan will assume his new responsibilities from January 7, 2019, said LinkedIn.

New Delhi: 

Microsoft-owned professional networking platform LinkedIn on Thursday announced the appointment of Mahesh Narayanan as Country Manager for India.

Narayanan will assume his new responsibilities from January 7, 2019, said LinkedIn which has over 59

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At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 70.05.

The rupee pared early gains but managed to end 5 paise higher at 70.39 against the US dollar Wednesday on increased selling of the greenback by exporters amid benign crude oil prices and smart gains in domestic equities. This is the third straight session of gains f

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Arun Jaitley said he expected a few PSBs to exit RBI's PCA framework regime after capital infusion.

New Delhi: 

Finance Minister Arun Jaitley on Thursday said he expected a few public sector banks (PSB) to exit the Reserve Bank of India's prompt corrective action (PCA) framework regime after a fresh infusion of capital in them.

According to Jaitley,

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Bank Holidays in December: December 24 will provide window for carrying out transactions.

In the wake of strikes and holidays, banks will remain closed from Friday to Wednesday except Monday, and the banking services could adversely be affected on these days, reported news agency Indo-Asian News Service (IANS). Trade union All India Bank Officers

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The interest rates on FDs vary according to the tenor of a fixed deposit.

Fixed deposit (FDs), also known as term deposits, are secure investment instruments offered by private and public sector banks, small finance banks (SFBs), non-banking financial companies (NBFCs) and post offices. The funds in these accounts are held for a fixed term, has a

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NEW DELHI: 

State-run banks recovered Rs 60,730 crore ($8.69 billion) of outstanding bad loans in the April-September period, which a finance ministry official said on Thursday was a "record" haul. Financial Services Secretary Rajeev Kumar said the government would give funds to four to five banks under a prompt corrective action plan after

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On Wednesday, the rupee had settled 5 paise higher at 70.39 against the US dollar.

 The rupee on Thursday depreciated by 24 paise to 70.63 in early trade on the forex market amid strengthening American currency and weak opening in domestic equities. Forex traders said strength in the US dollar against some currencies overseas weighed on the local u

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The six-member committee unanimously decided to leave rates unchanged at the meeting two weeks ago.

Monetary policy committee sounded cautious on inflation and preferred to wait for more data to see for how long price pressure and growth momentum would remain soft, according to minutes of its December 5 meeting published on Wednesday. The

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With Christmas on December 25, banks would effectively be closed for two days, affecting banking public.

Chennai: 

With the failure of conciliation talks, about 10 lakh bankers in private and government banks will go on strike on December 26 protesting against the merger of Bank of Baroda, Dena Bank and Vijaya Bank, the All India Bank Employees

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Share markets on Thursday: Forty two out of 50 Nifty stocks traded with losses.

Breaking seven straight sessions of gains, domestic stock markets opened on a negative note on Thursday. At 9:22 am, the S-P BSE Sensex traded at 36,303.90, down 180.43 points or 0.49 per cent while the Nifty50 index of the National Stock Exchange (NSE) was at 1

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Earlier this month, GoAir commenced flight operations from Bengaluru to Phuket.

GoAir has announced return flight tickets starting at Rs 13,899 on select international routes in a limited-period offer. The airline is offering daily direct flights to Phuket from Delhi, Mumbai and Bengaluru at return fares from Rs 13,899, it said on microblogging

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Twenty six stocks on the Nifty50 finished lower

Domestic stock markets finished lower on Thursday amid weakness in Asian peers, after the US central bank dashed investor hopes for a more dovish policy outlook. Bombay Stock Exchange (BSE) benchmark index Sensex shed 52.66 points to end at 36,431.67 and the

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The rupee will end 2019 at 71.15 per dollar, according to median estimate in a Bloomberg survey.

Tumbling oil prices have delivered an early Christmas present to local currency market, with the rally that's put the rupee on course for its best quarter since March 2017 seen extending into the new year.

That's the message from strategists coming off a

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ONGC Videsh holds reserves of 711.362 million tonnes of oil and oil equivalent gas as on April 1, 2018.

Mumbai: 

The board of top explorer, Oil and Natural Gas Corp, will consider a proposal this week to list its overseas investment arm, ONGC Videsh, on domestic bourses, two sources privy to the matter said on Wednesday. The move to float the unit -

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OPEC other oil producers agreed this month to curb output by 1.2 million bpd.

London: 

Oil prices fell about 3 per cent on Thursday, heading back towards their lowest levels for more than a year on worries about oversupply and the outlook for energy demand as stock markets tumbled following a US interest rate rise.

Stock markets dropped worldwide

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Jerome Powell said the Fed would continue trimming its balance sheet by $50 billion each month

After weeks of market volatility and calls by US President Donald Trump for the Federal Reserve to stop raising interest rates, the central bank instead did it again, and stuck by a plan to keep withdrawing support from an economy it views as strong.

US

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J-J did not immediately specify how many manufacturing plants the company has in India.

Drug authorities visited some of Johnson - Johnson's facilities on Wednesday and took "tests and samples" of its talcum powder, the company said in a statement. The visits came as regulators launched an investigation into J-J's Baby Powder following

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Bengaluru: 

Food ordering and delivery start-up Swiggy has raised $1 billion (Rs 7,000 crore) in venture funds from existing investors led by Naspers, to strengthen its technology and hire talent, it said on Thursday. "Swiggy will use the funds to bring more quality food brands closer to consumers and address gaps in supply through delivery-only

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Under this kind of FD account, premature payment is permitted only in case of death of depositor.

SBI or State Bank of India offers annuity deposit account, which is a variant of fixed deposit or term deposit. The account enables the depositor to pay a one-time lump sum amount and receive the same in equated monthly instalments (EMIs), comprising a

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PM Modi said the government would reduce the number of items in the highest bracket to just luxury goods

New Delhi: 

The government will tax most goods at below 18 per cent in a further simplification of the Goods and Services Tax or GST, Prime Minister Narendra Modi said on Tuesday.

GST, the government's biggest tax reform, sets rates from 28 per

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