Category: BUSINESS

Mumbai, May 25 (DIN NEWS) The Indian rupee today clocked its biggest single-session rally, surging by a whopping 56 paise to close at 67.78 against the US dollar amid a rise in local equities and cooling global crude oil prices. This is the best single-day rise for the home currency since March 14, 2017. The rupee today touched a high of 67.70 in the intra-day trade. It had closed at 68.34 a dollar yesterday after bouncing back from an 18-month low. “Amidst a strength in local equities, rupee continued to…

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Mumbai, May 24 (DIN NEWS) The rupee recovered from a near 18-month low by rising 12 paise to 68.30 against the dollar in opening trade today at the forex market on fresh selling of the US currency by exporters and banks. The minutes from the US Federal Reserve’s meeting yesterday appeared to have reassured investors that the central bank will not be too aggressive with raising interest rates, forex dealers said. Besides selling of the American currency by exporters and banks, weakness in the dollar against some other currencies overseas propped…

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New Delhi, May 24 (DIN NEWS) The government may levy a windfall tax on oil producers like Oil and Natural Gas Corp (ONGC) as part of a permanent solution it is working on for moderating the spiralling retail prices of petrol and diesel. The tax, which may come in form of a cess, will kick in the moment oil prices cross USD 70 per barrel, sources privy to the development said. Under the scheme, oil producers, who get paid international rates for the oil they produce from domestic fields, would have…

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New Delhi, May 23 (DIN NES) Workplace automation, including the use of artificial intelligence (AI) and robotics, is expected to double in India in next 3 years, but only a few companies and HR functions are fully prepared to address this organisational change, says a survey. According to a survey by Willis Towers Watson, companies in India expect the use of automation in the workplace to increase from the current 14 per cent to 27 per cent in three years, higher than the global and APAC average. Contrary to the traditional…

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New Delhi, May 23 (DIN NEWS) Looking to recover over Rs 7,000 crore of investors’ money, markets regulator Sebi will next month auction 20 properties of Pancard Clubs and its late chairman and managing director at a total reserve price of over Rs 1,700 crore. This is in addition to at least 57 properties which were auctioned between December and May with combined reserve price of more than Rs 3,000 crore. In a notice issued today, the Securities and Exchange Board of India (Sebi) said SBI Capital Markets will auction 17…

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Beijing, May 22 (DIN NEWS) The BRICS New Development Bank (NDB) is planning to launch its Americas Regional Office in Brazil this year, the bank said today. K V Kamath, the NDB president, made the remarks while meeting with Brazilian Foreign Minister Aloysio Nunes Ferreira in Shanghai yesterday. The Americas Regional Office will increase the operational capabilities of the NDB, headquartered in Shanghai, and facilitate identification and preparation of bankable projects in Brazil, the bank said in a press release today. Together with the Africa Regional Centre opened last year in…

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Mumbai, May 22 (DIN NEWS) Reversing a five-session slide, benchmark Sensex rose over 35 points to end at 34,651.24 in see-saw trade today as participants accumulated recently beaten down auto, metal, banking and realty stocks. Asian markets ended mixed following a good show by US stocks as investors applauded easing of trade tensions between the US and China. The 30-share Sensex opened in the green and hit a high of 34,754.60, but witnessed bouts of volatility. It finally settled at 34,651.24, showing a gain of 35.11 points, or 0.10 per cent.…

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Mumbai, May 21 (DINNEWS) The BSE Sensex surrendered its initial gains to trade lower by 97.64 points in late morning deals today amid selling in realty, healthcare, metal, auto, consumer durables and basic materials counters. Investors were wary after BJP’s B S Yeddyurappa resigned as the chief minister of Karnataka, paving the way for the JD(S)-Congress combine to form the government. Caution also set in ahead of key corporate earnings to be announced today, brokers said. IT, teck, telecom and energy witnessed buying interest. The 30-share Sensex was trading at 34,750.66,…

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New Delhi, May 21 (DIN NEWS) Gold prices slipped by Rs 75 to Rs 31,875 per 10 grams at the bullion market today on easing demand from local jewellers amid weak trend overseas. Silver cracked below the Rs 41,000-mark by falling Rs 440 to Rs 40,760 per kg due to reduced offtake by industrial units and coin makers. Traders said sentiment remained downbeat due to fall in demand from local jewellers and a weak trend overseas, as the dollar rose, reducing the precious metals’ safe-haven appeal after China and the US…

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New Delhi, May 20 (DIN NEWS) State-run Punjab National Bank (PNB) has refused to disclose details of the audit or investigation that led to detection of over Rs 13,000 crore fraud at the company, citing a clause that bars any disclosure that can impede the process of investigating or apprehending the offenders. In reply to an RTI query, the state-owned bank also declined to share copy of inspection reports related to the scam. Since the matter is under investigation by the central investigating agency/agencies/law enforcement agency, providing of the desired information…

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