Category: BUSINESS

Commerce and Industry Minister Piyush Goyal will lead a delegation of five chief ministers, including from Uttar Pradesh and Gujarat, and business leaders to Vladivostok in Russia from August 11-13, an official statement said on Friday.The commerce ministry said the visit is aimed at exploring investment opportunities and strike close partnerships with the Far East provinces of Russia. “The delegation includes chief ministers of Goa, Gujarat, Haryana, Maharashtra and Uttar Pradesh and an official from the State of Assam,” it said.The chief ministers will be accompanied by business delegations who…

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The rebounded by 18 paise to 70.71 against the US dollar in early trade on Thursday, a day after the Reserve Bank of India cut the key interest rate by 35 basis points. At the interbank foreign exchange, the rupee witnessed high volatility against the US dollar. The local unit opened strong at 70.80 and touched a high of 70.71 and a low of 70.83 against the American currency in early trade on Thursday.The domestic unit was trading at 70.87 against the dollar at 1010 hrs.Rupee had settled at 70.89…

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Domestic equity benchmarks BSE Sensex and NSE Nifty started on a cautious note on Wednesday ahead of the outcome of Reserve Bank of India’s policy outcome. The 30-share index was trading 18.58 points or 0.05 per cent up at 36,995.43; while the broader Nifty slipped 8.55 points or 0.07 per cent to 10,943.05 in morning trade.  In the previous session on Tuesday, the 30-share index closed at 36,976.85, up by 277.01 points, or 0.75 per cent, and the Nifty ended 85.65 points, or 0.79 per cent, higher at 10,948.25 points.Top…

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New Delhi, Aug 6 (DINN) The Centre received around 400 suggestions from various stakeholders till August 1 on the proposed model tenancy law under which land owners will have to give a three months’ notice before revising rent. An official said the Union Housing and Urban Affairs Ministry is presently examining these suggestions and once the process is completed a cabinet note will be prepared for further process. Last month, the ministry had put the draft of the ‘The Model Tenancy Act, 2019′ in public domain for consultation and sought…

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Washington, Aug 6 (DINN) President Donald Trump wants a trade agreement with China but it must be “the right deal,” White House economic advisor Larry Kudlow said Tuesday. Kudlow’s remarks came as markets attempted a recovery from Monday’s deep sell-off, prompted by a sudden escalation in the US-China trade since last week. “The president was not happy with the progress” of talks in Beijing earlier this month, Kudlow told CNBC. “The president is defending the American economy” against “a lot of unfair trading practices.” Trump on Thursday announced new tariffs…

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Mumbai, Aug 5 (DINN) Equity benchmark BSE Sensex tanked over 418 points to close at 36,699.84 on Monday due to intense selling in banking, finance and metal stocks amid weak global cues and political uncertainty over the Kashmir issue. After cracking over 700 points in day trade, the 30-share index pared losses to close at 36,699.84, still down by 418.38 points, or 1.13 per cent. It hit a low of 36,416.79 and a high of 36,844.05. The 50-share Nifty plunged by 134.75 points or 1.23 per cent to close at…

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Mumbai, Aug 5 (DINN) The rupee on Monday crashed by 113 paise — the biggest single-day drop in past six years — to close at a five-month low of 70.73 due to heavy capital outflows by investors anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue. This was the third straight session of fall for the rupee, during which it lost a massive 194 paise. The US-China trade-related concerns weighed on the investor community and kept the pressure on the Indian rupee, forex…

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  A law which allowed the Reserve Bank of India to circulate Rs 1000 denomination notes to tide over the shortage of currency in the late 1990s has been scrapped. The High Denomination Bank Notes (Demonetisation) Amendment Act, 1998 is one of 58 “redundant” laws repealed last week. Parliament passed a bill to repeal 58 laws from the statute books on Friday.The then finance minister, Yashwant Sinha, had moved bill in December 1998 to allow RBI circulate Rs 1000 denomination notes.“To eliminate the shortage of currency notes and to ease the…

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 US President Donald Trump has warned of imposing substantial tariffs on imports from China if the trade negotiations did not go well.“China has to do a lot of things to turn it around. But you’ll be seeing. They’ve got to do a lot of things. It (tariff increase) goes on September 1,” Trump said on Friday, a day after he announced to impose 10 per cent tariff on Chinese products worth nearly USD 300 billion.This is in addition to the 25 per cent import tariff on Chinese products worth USD…

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Equity benchmark BSE Sensex tumbled 463 points while the NSE Nifty closed below the key 11,000-mark on Thursday amid heavy selling in metal, banking and tech stocks. Lacklustre economic data, unabated foreign fund outflows and disappointing quarterly earnings also dented market sentiment, traders said.After a weak opening, the 30-share BSE Sensex plunged more than 750 points in late-afternoon trade, before finally ending at 37,018.32, down by 462.80 points or 1.23 per cent.Similarly, the broader NSE Nifty dropped 138 points or 1.24 per cent to end at 10,980.00.In the Sensex pack,…

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