Rupee closes below 80 mark for first time against dollar, drops by 13 paise
The rupee declined 13 paise to close below the 80 mark for the first time against the US currency on Wednesday due to strong dollar demand from importers amid high crude oil prices. At the interbank foreign exchange market, the local currency opened at 79.91 and later slid to a low...
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Review spectrum pricing mechanism for captive users to incentivise ministries: CAG to DoT
The Comptroller and Auditor General (CAG) has pulled up the telecom department for not finalising policy on spectrum assignment for captive uses and flagged the absence of spectrum price review for captive users administratively. In its report titled ‘Management of spectrum assigned on the administrative basis to government departments/agencies’, the CAG...
Russia defaults on LNG supplies to India
Russia has defaulted on the supply of at least 5 cargoes or shiploads of LNG to India after its retaliatory sanctions hit one of the companies that supply gas to India, sources said. India’s largest gas firm GAIL has a long-term deal to import 2.85 million tonnes of liquefied natural gas...
India’s passenger vehicle exports jump 26% in Q1
India’s passenger vehicle exports rose by 26 per cent in April-June 2022 aided by enhanced shipments to Latin America and Africa and a low base of the year-ago quarter that was hit by the second wave of Covid-19. As per the latest data released by the Society of Indian Automobile Manufacturers...
DLF aims to double retail presence in 4-5yrs: Chief
Enthused by strong recovery in retail consumption, realty major DLF Chairman Rajiv Singh has said the company has initiated the development of new shopping malls and looks to double retail portfolio in next five years. At present, DLF has a retail footprint of 42 lakh square feet comprising eight properties, including...
Goyal calls for deepening trade ties with Africa; exploring solar energy, startup ecosystem
Solar energy, infrastructure, military cooperation and startup ecosystem are four critical areas where India can be a valuable partner to African nations, Commerce and Industry Piyush Goyal said on Tuesday. The trade between India and African countries has been pretty balanced with exports of trade and services of about USD...
Rupee rises 6 paise to close at 79.92 against US dollar
The rupee recovered from its all-time low of 80.05 to close 6 paise higher at 79.92 (provisional) against the US dollar on Tuesday, tracking its regional peers and a positive trend in domestic equities. At the interbank forex market, the local unit opened lower at 80.00 against the greenback and fell...
Gold gains marginally amid firm global trends
Gold in the national capital on Tuesday rose by Rs 6 to Rs 50,290 per 10 grams amid firm global trends, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 50,284 per 10 grams. Silver, however, dipped by Rs 137 to Rs 55,539 per kg from Rs...
