Category: Business

Business

Rupee falls 29 paise to close at all-time low of 83.11 against U.S. dollar

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File. | Photo Credit: C. Venkatachalapathy The rupee depreciated 29 paise to settle at an all-time low of 83.11 (provisional) against the U.S. dollar on August 14, weighed down by a strong greenback overseas and firm crude oil prices in the international markets. Foreign fund outflows also weighed on the local unit, analysts said. At…

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Domestic air passenger traffic jumps 25% in July

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Image used for representational purpose only. | Photo Credit: The Hindu India’s domestic air passenger traffic volume surged 25% year-on-year to 1.21 crore passengers in July, according to DGCA data released on Monday (August 14). The data from the Directorate General of Civil Aviation (DGCA) showed that domestic carriers flew 97.05 lakh passengers in July…

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Markets bounce back after two days of fall on buying in Reliance, Infosys; firm European equities

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File. | Photo Credit: Paul Noronha Benchmark equity indices bounced back sharply and ended in the positive territory on August 14, helped by fag-end buying in index heavyweights Reliance Industries and Infosys along with a firm beginning in European markets. The 30-share The BSE Sensex climbed 79.27 points or 0.12% to settle at 65,401.92. During…

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Wholesale inflation stays in negative for fourth month at (-) 1.36% in July

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Image used for representational purpose only. | Photo Credit: Reuters The wholesale price based inflation remained in the negative territory for the fourth straight month in July at (-)1.36% on easing prices of fuel, even though food articles turned costlier. The wholesale price index (WPI) based inflation rate has been in the negative since April…

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Sensex, Nifty fall in early trade on weak global trends

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Benchmark equity indices declined in early trade on Monday, August 14, 2023 falling for the third day running, amid weak global market trends and fresh foreign fund outflows. Caution also prevailed in the market ahead of announcement of wholesale and retail inflation numbers for July later in the day. The 30-share BSE Sensex fell 461.48…

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Deloitte resigns as statutory auditor of Adani firm weeks after it flagged concerns over report by Hindenburg Research

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The Deloitte company logo. | Photo Credit: Reuters Deloitte has resigned as auditor of the Adani Group’s port company, with the firm run by billionaire Gautam Adani saying the auditor wanted a wider remit over other firms in the conglomerate following the report of a U.S.-based short seller. The resignation comes weeks after Deloitte raised…

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Foxconn gets board nod for $400 million investment in Telangana 

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Foxconn logo is seen in this illustration. File | Photo Credit: REUTERS Leading contract manufacturer of electronics globally Foxconn, which operates through multiple entities, has announced board approval for a $400 million investment in Telangana, the southern State where in May it broke ground for a $500 million manufacturing facility. Telangana IT and Industries Minister…

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RBI Governor Shaktikanta Das calls for expeditious completion of IMF quota review

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Reserve Bank of India (RBI) Governor Shaktikanta Das addresses G-20 Finance Track seminar on ‘Global Economy: Challenges, Opportunities and the Way Forward’, in Mumbai on August 11, 2023. | Photo Credit: ANI Reserve Bank Governor Shaktikanta Das on August 11 pitched for the “expeditious completion” of the 16th general review of the quotas at the…

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Rupee falls 19 paise to 82.85 against U.S. dollar amid losses in local equities

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The rupee depreciated by 19 paise to settle at 82.85 (provisional) against the U.S. dollar on Friday amid weak sentiment in the equity markets and a strong dollar against major rivals overseas. Foreign fund inflows and softening crude prices, however, supported the Indian currency even as investors were awaiting India’s industrial output number, to be…

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