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RBI can”t flip-flop on interest rate: Rajan

Facing persistent calls for interest rate cuts from the government and the industry, Governor Raghuram Rajan on Friday said the Reserve Bank of India (RBI) cannot ‘flip-flop’ on rates with every rise or fall in the inflation and would rather wait for a stable low price scenario. “The message I have been sending is that we don’t want to flip-flop ...

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Panama Canal claims USD 737 mn in cost overruns

The consortium expanding the Panama Canal is making fresh claims for cost overruns totaling USD 737 million, officials have said. Canal administrator Jorge Quijano told reporters that the Panama Canal Authority had received two claims on Tuesday that “will be evaluated” to determine if there is probable cause. But he warned that “at first glance, the issues will be very ...

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Snapdeal.com launches online ‘Agri store’

Celebrating Kisan Diwas, e-retailing firm Snapdeal.com on Tuesday announced the launch of The Agri store, offering products like seeds, fertiliser and irrigation tools, among others, to farmers. A Hindi version of the store will also be launched soon to aid farmers in making an informed decision, the company said in a statement. , “Now, farmers will be able to access ...

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Sensex up 49 points in early trade on global cues

Extending its rising streak for the fourth straight session, the benchmark BSE Sensex rose over 49 points in early trade on Tuesday on the back of a firming trend overseas amidst covering-up of short positions by speculators ahead of monthly expiry in the derivatives segment on Wednesday. The 30-share barometer moved up by 49.46 points, or 0.18 per cent, to ...

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Rupee up 40 paise against dollar in early trade

After three sessions of weakness, the rupee strengthened by 40 paise to 63.21 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amidst higher opening in the domestic equity market. Forex dealers said besides selling of the American currency by exporters, gains in other currencies against ...

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Sensex extends losses to 5th day; ends 71 points lower

The BSE benchmark Sensex regained most of the steep losses it suffered in early trade, but still ended the day 71 points lower at 26,710.13 after a highly volatile trade amid continuing investor worries over global economy. The 30-share BSE index resumed lower and immediately nosedived by 310 points to a low of 26,469.42. After moving in erratic fashion through ...

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Oil prices sink further in Asian trade

Oil prices sank further to new multi-year lows in Asia Tuesday, with analysts weighing the possible political and economic fallout in oil-producing countries with little respite in the selling. US benchmark West Texas Intermediate for January delivery fell 24 cents to $55.67 while Brent crude for January eased 22 cents to $60.84 in mid-morning trade — both contracts at levels ...

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Sensex extends losses, falls 117 pts in early trade

Continuing to decline for the fifth consecutive session, the benchmark BSE Sensex fell by over 117 points in early trade on Wednesday as funds and retail investors engaged in selling activity amid persistent dip in the rupee and a mixed trend in global markets. The 30-share barometer fell by 117.04 points, or 0.44 per cent, to 26,664.40. The index has ...

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UN climate deal reached in Lima

About 190 nations agreed on Sunday the building blocks of a new-style global deal due in 2015 to combat climate change amid warnings that far tougher action will be needed to limit increases in global temperatures. Under the deal reached in Lima, governments will submit national plans for reining in greenhouse gas emissions by an informal deadline of March 31, ...

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Swiss gold exports to India near Rs 1-trillion in 2014

Amid concerns of bullion trade being used for routing of black money, Switzerland’s gold exports to India have risen further and is fast approaching Rs 1 trillion mark for the entire 2014. The Swiss gold exports to India stood at over 2.8 billion Swiss francs (over Rs 18,000 crore) in October, up from about 2.2 billion Swiss francs in the ...

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