| RBI unable to arrest rapid fall in rupee...who else can? God save rupee!!! |
| Moses Harding/17:53,May 22,2012 |
| The expectation of shift into pro-growth monetary stance, on the back of accelerated rupee weakness beyond downtrend in crude oil price is not relevant now. RBI will continue to see inflation as major risk to growth. |
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| India's growth will remain subdued in FY13: OECD |
| India Infoline News Service/17:52,May 22,2012 |
| India’s economy will expand by 7.3% in the year ending March 31, and 7.8% the following year, the OECD said in its latest global economic outlook. |
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| Global growth will moderate to 3.4% in 2012: OECD |
| India Infoline News Service/17:50,May 22,2012 |
| The US was expected to continue to benefit from easy credit conditions and ultra-loose monetary policy, with the world's biggest economy forecast to grow 2.4% this year and 2.6% in 2013 |
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| OECD cuts GDP forecast for debt-stricken eurozone |
| India Infoline News Service/17:48,May 22,2012 |
| The OECD sees eurozone GDP shrinking by 0.1% this year, down from its previous forecast of growth of 0.2%. It sees growth of 0.9% in 2013, down from its previous outlook of 1.4%. |
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| Fitch downgrades Japan to 'A+'; Outlook negative |
| India Infoline News Service/17:47,May 22,2012 |
| Japan's gross general government debt is projected to hit 239% of GDP by end-2012, by far the highest for any Fitch-rated sovereign. |
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| Global slowdown, euro crisis hurting Indian economy: FM |
| India Infoline News Service/17:46,May 22,2012 |
| A number of steps have been taken to augment the supply of foreign exchange to stem the rupee's decline, the Finance Minister said, adding that measures have also been announced to increase FDI. |
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| GST to make goods & services more competitive: FM |
| India Infoline News Service/17:45,May 22,2012 |
| The Finance Minister said that for the consumer, the biggest advantage of the GST would be its transparent character as well as the reduction in the overall tax burden on goods which is currently in the range of about 25-30%. |
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| FM introduces draft MFI Bill in Lok Sabha |
| India Infoline News Service/17:43,May 22,2012 |
| The MFI Bill is aimed at regulating microlenders such as SKS Microfinance. |
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| Espirito Santo downgrades Biocon over accounting practices
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| India Infoline News Service/17:36,May 22,2012 |
| According to the bank, several concerns raised accounting and corporate governance questions over at the biotech firm mainly the fizzling out of the deal with Pfizer and its stake sale in Germany's AxiCorp.
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| Vodafone India profit up 14% on high customer base, service revenue
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| India Infoline News Service/17:32,May 22,2012 |
| Vodafone group’s revenue from Indian operations rose to £4.26bn in 2011-12, from £3.85bn in the previous financial year.
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| Top International news of the day |
| India Infoline News Service/17:15,May 22,2012 |
| Read below the Top International news of the day |
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| Rupee sinks, takes markets down with it
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| Siddhi Bajaj/16:37,May 22,2012 |
| The rupee once again breached the 55 mark to a dollar and was trading at 55.42 despite the Reserve Bank of India’s efforts to arrest the fall.
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| Rupee plunges further despite new RBI steps |
| India Infoline News Service/16:30,May 22,2012 |
| The rupee ended at 55.3950 per dollar after being as low as 55.47. It opened at a day's high of 54.6025. |
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| China's GDP growth pegged at 8.2% this year: OECD |
| India Infoline News Service/15:54,May 22,2012 |
| Increased policy support and an expected recovery in the global economy could lead to a rebound in activity in China in the second half of 2012, OECD said. |
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| Fitch affirms NTPC's FC IDR at 'BBB-'; Outlook stable |
| India Infoline News Service/14:51,May 22,2012 |
| The Outlooks on the Long-Term ratings are Stable. Fitch has also affirmed NTPC's senior unsecured rating and its USD1bn medium-term note programme at 'BBB-'. |
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| Indian RMBS stable amid interest rate hikes: Fitch |
| India Infoline News Service/14:49,May 22,2012 |
| The negative impact of interest rate hikes has been effectively neutralised by prepayments of mortgage loans, usually constituting 50-60% of total amortisation. |
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| Global economy recovering, but major risks remain: OECD |
| India Infoline News Service/14:28,May 22,2012 |
| GDP growth across the OECD is projected to slow from an annual rate of 1.8% in 2011 to 1.6% in 2012, before recovering to 2.2% in 2013, according to the Outlook. |
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| Govt slams SAIL for project delays, will hold meet with producers on prices
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| India Infoline News Service/12:37,May 22,2012 |
| Production at SAIL, the country’s largest steel producer, stagnated during 2011-12 at 14.1 million tonnes per annum (mtpa).
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| Promoters asked to dish out more for CDR
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| India Infoline News Service/11:40,May 22,2012 |
| Promoters may have to pledge their entire holding and even provide personal guarantees.
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| Wall Street gallops on eurozone optimism |
| India Infoline News Service/08:54,May 22,2012 |
| The Dow Jones Industrial Average rose 135.10 points, or 1.1%, to end at 12,504.48, breaking a string of six straight losses. |
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