Karnataka is the last state with which ArcelorMittal, the world's biggest steel company, signed a memorandum of understanding for setting up a steel plant and it looks like the company's first steel plant will come up in the state. Vijay Bhatnagar, head of ArcelorMittal's India business, told NDT

Mumbai - 17 Sep 2012 (PTI): Taking a cautious stance, the Reserve Bank on Monday cutCRRby 0.25 per cent - the percentage of deposits banks keep with central bank - but refrained from reducing lending rates in view of high inflation.The RBI decision, which comes days after a slew of measures taken by

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Falling for the fourth day in a row, the rupee lost a hefty 50 paise to close at 55.92 on persistent dollar demand, especially from corporates and oil importers. The local currency touched a one-week low of 56.07 intra-day but there was no sign of RBI intervention to shore it up. With the US dollar

London - 02 July 2012 (IANS):Coca-Colaand Pepsi contain minute traces of alcohol, a study has revealed.According to tests carried out by the Paris-based National Institute of Consumption, more than half of leading colas contain traces of alcohol, Daily Mail reported Wednesday.These include the brand

STOCKHOLM: The prize money given to Nobel laureates is to be cut by a fifth, the foundation behind the prestigious awards said on Monday, after a decade of overspending that has stretched its finances. The Nobel Foundation said the money for the awards, given for excellence in the fields of science,

Mumbai: The long-standing debate on whether India should allow Islamic banking has taken a twist with the National Commission for Minorities, or NCM, stepping into the picture and strongly supporting the model in Asia's third-largest economy. Following a proposal from NCM to permit interest-free ba

Research In Motion's appointment of bankers to advise on drastic options, including an outright sale of the BlackBerry maker Research In Motion's appointment of bankers to advise on drastic options, including an outright sale of the BlackBerry maker, may only hasten moves by major customers to offer

The Hindu Indian rupee on Thursday tumbled by 26 paise to trade at a new all-time low of Rs 56.50 against the US dollar on increased capital outflows and strong demand from importers for the American currency. File photo: P.V. Sivakumar The rupee on Thursday tumbled by 26 paise to trade at a new al

Petroleum and Natural Gas Minister S Jaipal Reddy on Tuesday hinted at the possibility of another fuel price hike, even as Rupee depreciated for the fifth consecutive day against the US dollar. Reddy, however, did not reveal when the price hike would take place He said that once a decision is taken

East Asia's developing economies could face a shock from China's slowdown and need to boost domestic demand to offset weak exports due to a sluggish U.S. recovery and Europe's debt crisis, the World Bank said on Wednesday. Overall growth for East Asian economies should decline from last year's 8.2

The Indian rupee plummeted to an all time low on Wednesday to 54.46 rupees to the dollar, or up to Rs14.81 to the dirham, breaching its previous record low of 54.39 struck on December 15. Local money exchanges witnessed "higher than normal footfalls" as non residents rushed to remit money as the rup

New Delhi: The government on Tuesday said it is not legally feasible for domestic banks to carry out interest- free Islamic banking activities. "RBI has informed that in the current statutory and regulatory framework, it is not legally feasible for banks in India to undertake Islamic banking activi

Hyderabad - 15 March 2012 (PTI): India will require 1,043 new passenger andfreighter aircraftvalued at USD 145 billion between now and 2030, according to a market forecast by aviation major Airbus. Of this, 1,020 will be passenger aircraft and 23 cargo. Indian market for new aircraft is the world's

New Delhi - 29 Oct 2011 (PTI): The country's largest car-makerMaruti SuzukiIndia today reported 59.81 per cent fall in net profit at Rs 240.44 crore for the quarter ended September 30, mainly due to production loss at Manesar because of labour unrest.The company's board, meanwhile, has approved to p

Mumbai - 22 Sep 2011: The 30-share BSE benchmarksensexnosedived by over 700 points during mid-session on day on panic selling across sectors, on grim economic warning by the US Fed over theAmerican economyamid worries about global slowdown.At 15.41 hrs, Sensex was down 704 points to be at 16361.15 a

Mumbai - 12 Sep 2011 (PTI): The BSE benchmarkSensexon Monday plunged over 365 points on heavy selling triggered by a steep fall in domestic industrial growth and weak trend in global markets on renewed concerns of euro-zone debt crisis.The BSE 30-share barometer dropped 365.23 points, or 2.17 per ce

New Delhi - 19 August 2011 (PTI): Gold climbed to an all-time high of Rs 28,150 per 10 grams in the national capital today, posting its biggest-ever single day gain of Rs 1,310 amid frantic buying triggered by robust demand in global markets. The trading sentiment at home was bolstered by gol