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Dollar climbs amid Brexit uncertainty Dollar climbs amid Brexit uncertainty

 

New York, The dollar appreciated in late trading on Friday amid falling sterling, as market participants awaited more updates concerning Brexit.

The dollar index, which measures the greenback against six major peers, was up 0.20 per cent at 97.8311 at 3:00 p.m. (1900 GMT), the Xinhua news agency reported.

Indian economy in 'tailspin' warns Nobel laureate Banerjee Indian economy in 'tailspin' warns Nobel laureate Banerjee


New York, The newly-minted economics Nobel laureate Abhijit Banerjee has warned that the Indian economy is going into "a tailspin" and his prescription is for the government to focus to increasing demand rather than on deficits or stability.

US dollar drops on trade optimism US dollar drops on trade optimism



New York, The US dollar pulled back on Friday, as investors expected a positive result of the latest round of US-China trade talks.

In late New York trading, the euro increased to $1.1041 from $1.1005 in the previous session, and the British pound increased to $1.2659 from $1.2444 in the previous session, Xinhua reported.

The Australian dollar increased to $0.6799 from $0.6761.

Growth worries lead Sensex to 6th straight session of loss Growth worries lead Sensex to 6th straight session of loss

 

Mumbai, Investors continue to fret over the RBI's sharp downward revision in its GDP growth forecast last week. Sensex closed with 141 points loss after a choppy day's trade on Monday.

The Reserve Bank of India (RBI) on Friday sharply cut its GDP growth forecast for FY20 to 6.1 per cent from 6.9 per cent earlier.

Maruti Suzuki launches mini-SUV S-Presso Maruti Suzuki launches mini-SUV S-Presso


New Delhi, Automobile major Maruti Suzuki on Monday launched mini-SUV 'S-Presso' priced in the range of Rs 3.69 lakh to Rs 4.91 lakh.

The company said the mini-SUV has been built afresh on acclaimed 5th generation 'Heartect' platform and uses 40 per cent high tensile steel.

RPower 'ideally' placed for strong performance: Anil Ambani RPower 'ideally' placed for strong performance: Anil Ambani



Mumbai, Reliance Anil Dhirubhai Ambani (ADAG) Group Chairman Anil Ambani on Monday said that Reliance Power is ideally positioned to deliver a strong operating and financial performance.

Addressing the Annual General Meeting of Reliance Power, Ambani observed that the company is among the top three private power generation companies with operating portfolio of about 6,000 megawatt (MW).

"My dear fellow shareowners, Reliance Power is ideally positioned to continue to deliver strong operating and financial performance," he said.

Fortis to expand Mohali hospital, build de-addiction centre Fortis to expand Mohali hospital, build de-addiction centre



Chandigarh, Punjab Chief Minister Amarinder Singh on Wednesday extended his government's full support to healthcare major Fortis to expand their existing hospital at Mohali, as well as to set up a drug and alcohol de-addiction and rehabilitation centre with an investment of over Rs 1,500 crore.

The Chief Minister's offer came at a meeting here with Fortis Chairman Ravi Rajgopal, accompanied by Fortis Healthcare Group Chief Executive Ashutosh Raghuvanshi.

TV players hail import duty scraping, to pass benefit to consumers TV players hail import duty scraping, to pass benefit to consumers

 

New Delhi, The TV manufacturers and trade bodies on Wednesday welcomed the scraping of import duty on open cell LED TV panel, saying it would not only boost sales of TVs in the festive season but also allow brands to push sales for bigger TV sets. The TV players also announced to pass the benefits to the consumers.

In a late night notification on Tuesday, the Finance Ministry scrapped the import duty on open cell LED TV panel from 5 per cent to zero.

Oil shock: Sensex loses 642 points, auto, banks worst hit Oil shock: Sensex loses 642 points, auto, banks worst hit

 

Mumbai, Indian equities plunged on Tuesday after the weekend attacks on Saudi Arabias oil facilities resulted in the suspension of nearly 6 per cent of the worlds crude production, sending shock waves across global financial markets.

Heightened nervousness was evident on Dalal Street from the sharp jump in the 'fear index' -- 'India VIX' -- which closed nearly 7 per cent higher.

After JioFiber, Airtel launches 1Gbps broadband plan After JioFiber, Airtel launches 1Gbps broadband plan

 

New Delhi, In a direct challenge to JioFiber, telecom major Bharti Airtel on Wednesday launched its ultra-fast broadband offering, Airtel Xstream Fibre, at Rs 3,999.

The announcement comes barely a week after Reliance Jio commercially rolled out its fiber-to-the-home (FTTH) service "JioFiber" across 1,600 cities in India where the users will have an integrated experience of broadband, on-demand entertainment, free HD voice calling, TV video calling and unlimited data, among others.

Besides "unlimited" broadband at 1Gbps speed, Airtel Xstream Fibre also offers "unlimited landline calls" to any network in India along with benefits such as three months Netflix subscription gift, one year Amazon Prime membership and access to premium content from ZEE5 and Airtel Xstream app, the company said.

India's forex reserves down by $446 mn India's forex reserves down by $446 mn


Mumbai, India's foreign exchange reserves declined by $446 million during the week ended August 30, official data showed on Friday.

According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves declined to $428.60 billion from $429.05 billion reported for the week ended August 23.

Ashok Leyland August sales drop by 47% Ashok Leyland August sales drop by 47%

 

Chennai, Commercial vehicles major Ashok Leyland Ltd closed last month with a 47 per cent drop in sales, the company said on Tuesday.

In a statement issued here, the company said that it sold a total of 9,231 units in August, down from 17,386 units sold during the corresponding month in 2018.

Crash-&-burn: Aug auto sales may plunge; 30% fall seen Crash-&-burn: Aug auto sales may plunge; 30% fall seen


New Delhi The slowdown nightmare for the automobile industry is expected to continue for August as analysts estimate an overall sales downfall of up to 30 per cent.

In a survey conducted by IANS, industry experts were quick to point out that August will be far worse in sales than July, especially due to havoc caused by Monsoon rains across India.

They estimated that sector might face an overall sales downfall of up to 30 per cent on a year-on-year basis, with passenger vehicle segment being the worst hit.

US dollar rises against British pound US dollar rises against British pound


New York, The US dollar rose against the British pound in late trading after the Queen Elizabeth has approved a request by British Prime Minister Boris Johnson to suspend Parliament just weeks before the Brexit deadline on Oct 31.

The Queen approved the order to prorogue parliament no earlier than Sept 9 and no later than Sept 12. It will return with the Queen's speech on Oct 14, just two weeks before the scheduled Brexit date.

Auto slowdown: SBI waives processing fee on car loan, more PSBs to follow Hyundai launches Grand i10 Nios @ Rs 4.99-7.99 lakh Jio GigaFiber's commercial services start Sep 5 Just rate cut not enough to boost realty market: Developers Equities, currency tumble over weak global cues, J&K decision GST Council slashes tax on EVs and EV chargers Sensex ends in green after 6 days of decline Sensex ends lower for the 6th day; auto, steel scrips lose Fuel subsidies 3 times higher than e-vehicle budget: Report Govt may close NTPC-SJVNL, IOC/BPCL-GAIL M&A deals in FY20 With no respite for FPIs, Sensex nosedives 560 pts United to resume flights to India on September 6 Reliance Power enters into Inter-Creditor Agreement with lenders Sensex logs heaviest fall in 7 months as Budget fails to deliver PNB reports Rs 3,805 cr fraud by Bhushan Power & Steel Sensex slumps 460 points post Budget presentation FICCI recommends tax incentives for movie theatres Huawei Mate 30 5G launching in December: Report Ambrane launches its BIG BATTERY, 20000 mAh Lithium Polymer Power Bank H55's fully electric airplane takes off in Switzerland China opposes 'politicization' of Huawei issue in India Facebook's digital currency 'Libra' coming in 2020 RBI panel to review liquidity management framework Uber, Indian Oil to offer fuel discounts to drivers Enhance your Cinematic experience at Homes, with Truvison Home Theatre Speaker April passenger cars sales down 20% Market to stay volatile but with an upward bias Mukesh Ambani breaking all barriers to connect next billion Mudra loans may cross Rs 3 lakh cr in 2019-20 Sensex ends below 39k, India VIX 5% up