NEW DELHI: Inflation based on wholesale prices shot up to 5.77 per cent in June on increasing prices of vegetables and fuel items. The Wholesale Price Index (WPI) based inflation stood at 4.43 per cent in May and 0.90 per cent in June last year. According to the government data released today, inflation in food […]
Business
After reporting India’s biggest bank loss of Rs 13,420 cr, PNB may post nation’s biggest bank profit in Q2
The Indian bank that saw its earnings wiped out by an unprecedented fraud aims to report the nation’s biggest bank profit by selling some assets, according to people familiar with the matter. Punjab National Bank is targeting net income of more than 50 billion rupees ($730 million) for the three months through Sept. 30, boosted […]
Jio set to disrupt cable TV, broadband biz
Mumbai, July 5 Reliance Industries is set to shake up the cable television and fixed-line broadband market on the lines of the disruption it has caused in the mobile telephony market. Addressing the 41st AGM of the company today, RIL Chairman Mukesh Ambani said the company will launch its fixed-line broadband services under the brand […]
Manufacturing PMI at 53.1 in June, highest since December
Manufacturing activity saw its best performance in six months in June, due to strong output levels and new order numbers, according to a private sector survey. The Nikkei India Purchasing Managers’ Index registered a reading of 53.1 in June, compared to 52.2 in May. A reading over 50 indicates expansion, while a score below 50 […]
Trade war impact: China Factory gauge slips in June as outlook dampens
China’s official factory gauge fell more than expected in June, just as the world’s two biggest economies head toward a trade war. The manufacturing purchasing managers index stood at 51.5 in June, versus 51.9 in May, and the forecast of 51.6 in a Bloomberg survey of economists. The non-manufacturing PMI, covering services and construction, rose to […]
Campaign regarding money parked by Indians in Swiss banks ill-informed, says Jaitley
New Delhi: Union Minister Arun Jaitley on Friday said that there has been an “ill-informed” campaign regarding money parked by Indians in Swiss banks. Jaitley’s reaction was on a news report on Thursday that said money parked by Indians in Swiss banks rose over 50 percent to CHF 1.01 billion (Rs 7,000 crore) in 2017, […]
Rupee breaches 69 per dollar for the first time, may lead to high inflation, worsen current account deficit
New Delhi: The embattled Indian Rupee plunged by 28 paise to hit an all-time low of 68.89 against the US dollar on Thursday morning on strong month-end dollar demand from importers and banks amid sustained foreign capital outflows. Minutes later, rupee collapsed to a lifetime low of 69.10 against the US dollar by plunging 49 […]
Sensex Rises 100 Points, Nifty Hovers Around 10,790; Tata Motors, Reliance Industries Fall
India’s stock markets opened lower on Tuesday as the market benchmark index Sensex declined 114 points to open at 35,355.72 points. However, the losses were quickly pared, and the benchmark index retreated to trade in the positive range. At 12.44 pm, Sensex traded 101 points, 0.28 percent, higher at 35,571. The NSE’s Nifty traded higher […]
Wipro CEO Abidali Neemuchwala’s pay package up 34.5% in FY18
New Delhi: Wipro chief executive Abidali Z Neemuchwala saw his pay package growing over 34 percent to Rs 18.23 crore during FY2017-18 compared to the previous fiscal, as per the company’s annual report. Chief Strategy Officer (CSO) Rishad A Premji’s compensation also grew by more than 250 percent to Rs 5.8 crore in the said […]