Category: BUSINESS

UK Prime Minister Boris Johnson has called on his Conservative Party MPs to back a controversial parliamentary bill that would override parts of the Withdrawal Agreement struck with the European Union, or the so-called Brexit divorce pact. In a Zoom call with party members on Friday, he reportedly urged the members of parliament (MPs) not to return to the “miserable squabbling” over Europe and support his Internal Market Bill, which is intended to ensure no hiccups in Northern Ireland, the UK territory which shares a border with the EU member-state…

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Markets regulator Sebi has shortlisted eight companies including Bharti Airtel, Wipro and Tata Communications to revamp its IT infrastructure network and communication systems. The other shortlisted companies are — Hewlett Packard Enterprise India, IBM India, NTT India, Orange Business Services India Technology and Sify Technologies. The Securities and Exchange Board of India (Sebi) is looking to refurbish its IT infrastructure network and communication systems. Besides, it is planning to have a centralised control over its network and IP (internet protocol) telephony infrastructure. Accordingly, the regulator in July invited Expression of…

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The rupee on Thursday advanced by 9 paise to end at 73.46 to the US dollar as robust foreign fund inflows and easing of crude oil prices lifted forex market sentiment. Starting off the session on a positive note, the domestic currency touched the day’s high at 73.16 against the greenback. After paring significant gains, the rupee finally settled at 73.46, up 9 paise. On Wednesday, the rupee had settled at 73.55 against the US dollar. Foreign institutional investors bought equities worth Rs 838.37 crore on a net basis on…

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The rupee depreciated 13 paise to 73.73 against the US dollar in opening trade on Wednesday tracking muted domestic equities and strengthening American currency. At the interbank forex market, the rupee opened on a weak note at 73.67, then fell further to 73.73, registering a fall of 13 paise over its last close. The rupee had settled at 73.60 against the US dollar on Tuesday. Forex traders said strong dollar, muted domestic equities and sustained foreign fund outflows weighed on investor sentiment. Further, tension at Indo-China border too dampened investor…

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Domestic equity benchmark Sensex dropped over 85 points in early trade on Tuesday amid lack of directional cues from global markets. The 30-share BSE index opened on a choppy note and was trading 2.15 points or 0.01 per cent lower at 38,415.08; while the NSE Nifty slipped 6.80 points or 0.06 per cent to 11,348.25. PowerGrid was the top loser in the Sensex pack, shedding around 1 per cent, followed by NTPC, Nestle India, ONGC, L&T, HDFC and M&M. On the other hand, Reliance Industries, Sun Pharma, Infosys, Axis Bank…

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China’s export growth accelerated in August while imports edged lower as the world’s second-largest economy extended its recovery from the coronavirus pandemic. Exports rose 9.5 per cent over a year earlier to USD 235.2 billion, up from July’s 7.2 per cent growth, customs data showed on Monday. Imports declined 2.1 per cent to USD 176.3 billion, compared with the previous month’s 1.4 per cent contraction. China’s exporters have benefited from its relatively early reopening from a shutdown to fight the virus while competitors in many other countries still face anti-disease…

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The rupee depreciated 29 paise to 73.32 against the US dollar in opening trade on Thursday tracking muted domestic equities and strengthening American currency. At the interbank forex market, the rupee opened on a weak note at 73.23, then fell further to 73.32, registering a fall of 29 paise over its last close. The rupee depreciated 16 paise to close at 73.03 against the US dollar on Wednesday. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.07 per cent to 92.91. Forex…

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The rupee depreciated 25 paise to 73.12 against the US dollar in opening trade on Wednesday tracking muted domestic equities and strengthening American currency. At the interbank forex market, the rupee opened on a weak note at 73.10, then fell further to 73.12, registering a fall of 25 paise over its last close. On Tuesday, rupee had rallied 73 paise to breach the 73-mark against the US dollar on Tuesday, supported by liquidity-boosting measures announced by the RBI. It had settled at 72.87. Meanwhile, the dollar index, which gauges the…

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The BSE benchmark Sensex jumped nearly 400 points in early trade on Tuesday tracking gains in index majors Kotak Bank, the HDFC twins and ICICI Bank amid mixed cues from global markets. After opening on a choppy note, the BSE Sensex was trading 399.53 points or 1.03 per cent higher at 39,027.82; while the NSE Nifty was up 116.70 points or 1.02 per cent at 11,504.20. IndusInd Bank was the top gainer in the Sensex pack, surging around 4 per cent, followed by NTPC, Tata Steel, Bajaj Finance, SBI, Asian…

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The rupee appreciated 14 paise to 73.25 against the American currency in early trade on Monday tracking weak US dollar and sustained foreign fund inflows into the domestic equity market. Forex traders said heavy buying in domestic equities, and strong Asian currencies also aided the positive trend in the local unit. At the interbank forex market, the domestic unit opened at 73.26 against the US dollar, then gained further ground and touched 73.25 against the greenback, registering a rise of 14 paise over its previous close. The rupee had surged…

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