Rupee ends marginally higher by 3 paise

In restricted trading, the rupee ended marginally higher by three paise to 63.61 against the American currency on mild selling of dollars by banks and exporters on hopes of foreign capital inflows into equity in view of strong equity market. The rupee opened lower at 63.66 per dollar at the Interbank Foreign Exchange (forex) as

Indian economy resilient but no room for complacency: RBI

The Reserve Bank of India (RBI) Thursday released the Financial Stability Report (FSR) June 2015, the eleventh issue of its half yearly publication. The FSR reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, as also the resilience of the financial system. Besides, the

Sensex rebounds 57 pts in late morning trade

The benchmark BSE Sensex rebounded by 57 points in late morning trade on fresh buying in capital goods, healthcare, refinery, power and auto stocks. Key benchmark indices had edged lower in early trade due to sustained selling in consumer durable, IT, FMCG, teck and banking shares amid tracking weakness in Asian markets and overnight slide

Saudi Arabia loses spot as top crude supplier to India

Saudi Arabia lost its spot last month as India’s top oil supplier to Nigeria for the first time in at least four years, according to ship tracking data compiled by Reuters, as the world’s top crude exporter struggles to maintain market share in Asia. The OPEC kingpin also fell behind Russia and Angola as the

Automobile exports to Sri Lanka jump four-fold in May

Sri Lanka, Italy and Spain provided traction to India’s automobile exports while Mexico, the UK, Algeria and Bangladesh witnessed a major slowdown in shipments in May, engineering exporters’ body EEPC said on Wednesday. The Engineering Export Promotion Council (EEPC) said automobile exports to Sri Lanka jumped nearly four-fold to $56.54 million in May from $14.58

Women entrepreneurs get a raw deal in India

Which is the best country for high-potential women entrepreneurs to succeed? It’s certainly not India which ranks a low 70 among 77 countries covered in the 2015- Female Entrepreneurship Index. The main reasons that the study identifies for the country’s poor score are lack of labour force parity and access to first-tier finance (women entrepreneurs

Kinfra to set up 107-cr footwear park in Kozhikode

In a major boost to the industrial sector of the district, the Kerala Infrastructure Development Corporation (Kinfra) will set up a footwear park at Ramanattukara here at a cost of Rs 107 crore. The footwear park will be spread over an area of 30 acres. It is expected to provide direct employment to 2,000 persons

Chhattisgarh woos Japan’s SoftBank, Foxconn group

In a major step towards attracting investment in Naya Raipur, Chhattisgarh government has expressed its willingness to offer land in its new smart city to Japan based telecom and internet major SoftBank Corp and Taiwan-based Foxconn Technology Group, which are already in talks to form joint venture for electronics manufacturing in India. “Chief minister Raman

Netflix to enter India, DTH companies edgy

After Singapore-based on-demand internet video provider Hooq launched operations here, the pioneer of internet TV, US-based Netflix, has firmed up plans to enter India by 2016, according to people familiar with the matter. This has sent domestic DTH players into a tizzy with some of the major ones chalking out strategies to diversify beyond television.

Adani may junk $16bn Oz project

The Adani Group is likely to withdraw from the $16-billion (Rs 1,00,000-crore) Australian coal mining project, touted as the world’s largest, due to concerns over softening international coal prices, relentless attacks by environmentalists and delay in regulatory clearances, risking India’s largest FDI in Australia. The $10-billion infrastructure conglomerate, according to sources, is concerned about the