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Rio Tinto profits rise as debts and costs are lowered

Aug 19, 2014 at 19:02 | Source: BBC

Anglo-Australian mining group Rio Tinto has reported a 21% rise in half-year profits to $5.1bn (£3bn). Rio has been cutting back debts built up in a surge of acquisitions under previous chief executive Tom Albanese. Sam Walsh, who replaced Mr Alaban...

Five reasons Sensex, Nifty made fresh highs today

Aug 19, 2014 at 13:27 | Source: Economic Times

The Indian stock markets made fresh life highs today. The new life high for Sensex is 26,413.11; and that for Nifty is 7880.50. The 30-stock Sensex closed the day at 26,390.96; up 287.73 points. The broader 50-stock Nifty ended the day at 7,874.25; u...

Silver pricing moves into digital domain

Aug 18, 2014 at 04:52 | Source: Calcutta Telegraph News

London, Aug. 17: Computers have fixed prices in most financial markets for more than a decade, but last week silver finally yielded to the digital age when the benchmark value of the precious metal was set electronically for the first time in its 11...

Waiting for PM Modi? Five reasons markets are not rising

Aug 14, 2014 at 13:12 | Source: Economic Times

MUMBAI: It has been three months since Prime Minister Narendra Modi's government took charge at the Centre. The government has raised hopes for an era of change and quick economic reforms. The optimism has been mirrored in the surge in the Indian ma...

Oil minister tweets cut in petrol price

Aug 14, 2014 at 04:07 | Source: Calcutta Telegraph News

New Delhi, Aug. 13: Petrol prices will be cut by Rs 1.89-2.38 per litre from the midnight of August 14, the second reduction in a month and the steepest in 11 months. In Calcutta, petrol will be cheaper by Rs 2.27 at Rs 78.03 a litre. “The pri...

Oil retailers get cushion

Aug 12, 2014 at 04:22 | Source: Calcutta Telegraph News

New Delhi, Aug. 11: State- owned oil refiners will get Rs 11,000 crore in subsidies for selling diesel, kerosene and domestic cooking gas at government-controlled prices in the first quarter of this fiscal. �For April-June, the government has sanc...

UK pork farmers threatened by Russian import sanctions

Aug 11, 2014 at 16:27 | Source: BBC

UK pork farmers will face pressure to lower prices because of Russia's ban on food imports from a number of Western countries, say experts. The ban is expected to increase the supply of pork on world markets. This will increase competition on gl...

Potato crisis may spur price rise in West Bengal

Aug 11, 2014 at 09:10 | Source: Economic Times

TARAKESWAR/MIDNAPORE/SURI: The Mamata Banerjee government's potato export ban to Odisha and Jharkhand has raised the spectre of a reciprocal action by the states, affecting the prices of not just potato but other essential commodities which reaches ...

Top National Spot Exchange Limited brass, executives failed in duty leading to scam: Enforcement Directorate

Aug 10, 2014 at 11:30 | Source: Economic Times

NEW DELHI: The Rs 5,600-crore NSEL scam could have been averted had its top management and other functionaries "performed their duties and exercised due diligence" to check the dubious activities of defaulting firms which have been alleged to have ch...

Top officials of a Gujarat state government visits Dubai

Aug 09, 2014 at 15:11 | Source: Economic Times

DUBAI: A Gujarat government delegation led by state Finance Minister Saurabh Patel is visiting Dubai to learn the best practices involved in creating a successful financial city with world-class infrastructure. Top officials from the state and from t...

Specialty chemicals give tyre maker SRF a power spin

Aug 08, 2014 at 12:27 | Source: Economic Times

Refrigerant and tyre cord maker SRF has successfully shed its old mantle to emerge as a vibrant intermediate chemical maker with niche specialisation. With the company's dependence on carbon credits ending, it has been able to achieve a better market...

Top five factors which are weighing on Indian markets

Aug 08, 2014 at 12:27 | Source: Economic Times

NEW DELHI: The BSE Sensex, which has already plunged over 300 points so far in the month of August, slipped by another 300 points in trade on Friday, weighed down by weak global cues. Asian markets, including India, came under intense selling pressur...

Moscow bans Western food as Russian quits as Ukraine rebel chief

Aug 08, 2014 at 07:30 | Source: FirstPost

Moscow/Donetsk: Moscow banned imports of most food from the West on Thursday in retaliation against sanctions over Ukraine, a stronger than expected measure that isolates Russian consumers from world trade to a degree unseen since Soviet days.In east...

Cardamom production set to fall 40%

Aug 07, 2014 at 02:07 | Source: Economic Times

KOCHI: India's cardamom production this year is expected to fall 30-40% compared to 2013, as unfavorable weather likely is keeping the prices high and affecting exports, say producers of the aromatic spice. The extended dry period before the onset of...

RBI to cut down "pre-emptions" to spur efficiency: Raghuram Rajan

Aug 07, 2014 at 02:07 | Source: Economic Times

MUMBAI: A day after he lowered SLR, the mandatory government bond holding requirements for banks, Reserve Bank Governor Raghuram Rajan today said RBI is all for reducing "pre-emptions" over a longer horizon for more efficiency in the financial system...

Gujarati version of 'La Tomatina' gets govt's goat, organisers to pay penalty

Aug 06, 2014 at 10:57 | Source: FirstPost

Even as tomatoes hit Rs 100 a kilogram in the retail markets, a group of enthusiastic youth celebrated Friendship Day over the weekend with an Indian, or Gujarati, version of the Spanish La Tomatina fest.Now, not so amused, the district collectorate ...

Will Africa be able to keep its economic winning streak alive?

Aug 05, 2014 at 14:56 | Source: FirstPost

by Paul Wiseman/Associated PressWashington: They export BMWs and birdseed and plenty in between. Their middle class is growing fast enough to draw the likes of Marriott and Wal-Mart. China, Europe, Japan and the United States are vying to build roads...

Many Russians stranded as tour firm Labirint fails

Aug 05, 2014 at 05:02 | Source: BBC

As many as 27,000 Russian tourists are stranded abroad after a Russian tour firm, Labirint, suspended operations. A company statement (in Russian) blamed the move on a deterioration in the rouble exchange rate and the negative political and economic ...

Sanctions ground Russian tycoon's US-made jet

Aug 04, 2014 at 18:22 | Source: BBC

A Russian billionaire businessman close to President Vladimir Putin says he cannot use his luxury American Gulfstream jet because of US sanctions. Gennady Timchenko, reckoned to have a fortune of $14.4bn (£11.4bn), owns big stakes in gas and infrast...

Slim diesel decontrol hope

Aug 04, 2014 at 03:42 | Source: Calcutta Telegraph News

New Delhi, Aug. 3: State-owned oil companies are unlikely to get the freedom to sell diesel at market rates when the revenue losses are gone. The oil ministry is planning to seek the cabinet’s approval to maintain some administrative control o...

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