Reliance Infrastructure Ltd on Wednesday said its shareholders have approved raising funds up to Rs 550.56 crore through issuance of shares on a preferential basis. The funds raised would be utilised for long-term resources, for general corporate purposes and to fund future growth, the company said in a regulatory filing.
Foreign currency non-resident bank FCNR (B) deposits in dollar, having maturity of one year to less than two years, would now attract an interest rate of 2.41 per cent as compared to 2.33 per cent earlier. Rate of interest for deposits with 2-3 years maturity has been revised to 2.71 per cent from 2.43 per cent earlier. For deposits having a maturity of five years, the rate has been revised to 3.47 per cent, against 3.11 per cent earlier, the banks said.
Overall, yuan payments value in April decreased by 7.73 per cent from a month earlier
Prices may go up because of higher energy costs, caused by the rise in shipping charges, with commercial vessels taking a longer route to avoid the troubled Red Sea region, the finance ministry said on Monday. Iran-backed Houthi rebels of Yemen are repeatedly attacking ships in the Red Sea. While the global economy is grappling with challenges such as sticky inflation, sluggish growth, and mounting fiscal pressure, India's external sector could face "potential risks" due to the ongoing geopolitical tensions, according to the finance ministry's report on the review of the Indian economy.
A Sri Lankan parliamentarian of the ruling party of the Rajapaksas and his personal security officer were killed on Monday in clashes between anti- and pro-government protesters in the country.
India's foreign exchange reserves declined for the second week in a row by $333 million for the week ended June 11.
The country's forex reserves inched higher to $292.24 billion as of January 24, from $292.08 billion in the earlier week.
A Dubai-bound passenger, who had allegedly swallowed 159 capsules containing foreign currencies valued more than Rs 16 lakh, was arrested on charges of smuggling
"No petrol, no gas, no milk powder, no electricity", "Go home Gota", placard carrying protestors were then seen walking towards the Rajapaksa private residence in Colombo at Pangiriwatte Lane.
Work on a dozen decisions to start by next week.
India's foreign exchange reserves continued to surge ahead and neared the $74-billion mark following fresh inflows of $178 million to touch $73,918 million during the week ended March 14.
The government of India has prepaid a portion of foreign currency loans of Asian Development Bank amounting to yen 123.11 billion (Rs 5,294.84 crore)
The rupee fell by 49 paise to close at 81.89 (provisional) against the US dollar on Monday as heavy selling pressure in the domestic equities and a spike in crude oil prices weighed on the local unit.
India's foreign exchange reserves rose by $332 million during the week ended October 15, 2004, compared to $20 million a week earlier.
India's forex reserves increased by a whopping 5.031 billion to stand at $185.078 billion during the week ended February 9, as against $180.047 billion during the week ended February 2.
The negative outlook reflects dominant, mutually-reinforcing, downside risks from deeper stresses in the economy and financial system that could lead to a more severe and prolonged erosion in fiscal strength than Moody's currently projects, the agency said.
India's forex reserves decreased by $666 million to stand at $176.585 billion during the week ended January 5 as against $177.251 billion during the week ended December 29.
India's forex reserves went up by $75 million to stand at $175.519 billion during the week ended December 15 as against $175.444 billion during the week ended December 8.
Speaker's media secretary Indunil Abeywardena said a resignation letter from President Rajapaksa has been received through the Sri Lanka high commission in Singapore.
India's forex reserves went up by $1.168 billion to stand at $168.284 billion during the week ended November 10 as against $167.116 billion during the week ended November 3.
The rupee was Asia's worst performing currency this year, and the outlook for 2012 also remains bleak.
Mayank Goyal, founder and CEO, moneyHOP, will answer queries related to how to best manage your money while travelling internationally.
The government may soon give the green light to bilateral trade between Russia and India in their national currencies to avoid any trade disruptions, multiple people aware of the matter said. While the Department of Commerce has recommended the proposal, an announcement is likely to be made by the finance ministry after further deliberations between the Department of Economic Affairs and Department of Financial Services. "The finance ministry will take a call on how to peg the two currencies," a senior government official told Business Standard. In the past, the two nations have had rupee-rouble trade, and when such an arrangement is implemented again, it will bypass the sanctions imposed on Russia by the West.
India's forex reserves came down by $30 million to stand at $165.275 billion during the week ended October 13 as against $165.305 billion during the week ended October 6.
India's forex reserves decreased by $6.844 billion to stand at $137 billion during the week ended December 30 against $144 billion during the preceding week.
India's forex reserves decreased by $950 million to stand at $144 billion during the week ended December 23 against $145 billion during the preceding week.
India's forex reserves increased by $940 million to stand at $166.482 billion during the week ended September 22 from $165.542 billion during the week ended September 15.
India's forex reserves increased by $1.057 billion to stand at $145 billion during the week ended December 16 against $143.943 billion during the preceding week
India's gold reserves were also up by $297.7 million to $19.33 billion
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
India's forex reserves increased by $1.141 billion to $200.325 billion during the week ended April 6 as against $199.179 billion in the previous week.
India's forex reserves increased by $157 million to stand at $163.033 billion during the week ended on June 16, as against $162.876 billion during the week ended June 9.
Foreign investors have bought around $2.4 billion in both debt and equity so far in October, pushing the total inflows to nearly $36 billion so far in the year.
With an inflow of $2 billion, the highest ever in recent times, India's foreign exchange reserves zoomed past the $90 billion mark for the week ended October 10.
India's forex reserves increased by $ 2.07 billion to stand at $157.262 billion during the week-ended April 21, 2006, as against $155.196 billion during the week ended April 14, 2006.
India's forex reserves increased by $2.96 billion to stand at $151.622 billion during the week ending March 31, 2006 against $148.662 billion during the week ending March 24.
Central bank raises red flag, warns of potential risk
India's forex reserves decreased by 466 million to stand at 4139.44 billion during the week ended January 20, 2005 against $139.51 billion during the preceding week.
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