Housing Finance company gets BBB+

INDIA'S leading housing finance company has been rated by a top financial rating agency as one of the strongest banking institutions in the country.

Standard and Poor’s (S&P) gave a credit rating to ten Indian banks and said their outlook was stable.

Out of the top four Indian Banks in the list, S&P rated the Housing Development Finance Corporation (HDFC) Bank  as having a strong business position with its capital, earnings and risk position “adequate”, and its funding and liquidity position to be “above average and strong.”

The bank which also.......

GLOBAL economic uncertainty will fuel the current surge in investment demand for gold, even as record prices force a slump in the jewellery market, the World Gold Council (WGC) said today.

GLOBAL economic uncertainty will fuel the current surge in investment demand for gold, even as record prices force a slump in the jewellery market, the World Gold Council (WGC) said today.

Global demand for gold was 1,054 tonnes in the three months to September, up 6.0 per cent year-on-year - equal to a record high of $57.7bn (£36.63bn) in value terms, the WGC said in a report.

The increase was driven by a 33 per cent rise in investment demand, with gold offering a safe haven after a US sovereign debt downgrade, plunging global equity markets and the escalating eurozone.......

THE BSE benchmark Sensex has extended its losses for the seventh straight session, losing over 128 points in the early trade today on sustained selling amid a weakening Asian trend.

By Taru Sugandha Dhir
 

THE BSE benchmark Sensex has extended its losses for the seventh straight session, losing over 128 points in the early trade today on sustained selling amid a weakening Asian trend.
 

The 30-share BSE Sensex which has lost over 1,107 points in the past six sessions, fell further by 128.62 points or 0.78 per cent to 16,333.09 in the first five minutes of trade, led by refinery and metal stocks.
 

In a similar fashion, the 50-share National Stock Exchange Nifty index declined by 41.20 points, or 0.83 per cent, to 4,893.55.......

INDIA’S cabinet may decide by next week to allow chains such as the world’s largest retailer Wal-Mart Stores Inc to operate in the country with a majority stake under strict local sourcing rules, a senior government source told reporters.

INDIA’S cabinet may decide by next week to allow chains such as the world’s largest retailer Wal-Mart Stores Inc to operate in the country with a majority stake under strict local sourcing rules, a senior government source told reporters. 

A draft cabinet note suggesting so-called multi-brand retail foreign firms could hold up to 51 per cent ownership has already been reviewed, a senior government source said on Friday (November 18).

“We have already sent it to the cabinet for their approval,” the source said, adding that a decision could come next week.

Inadequate road, rail and storage facilities mean significant.......

THE INDIAN rupee today hit a record low against the dollar, as fears about eurozone debt and the global economy as well as falling local stock markets provoked further selling of the currency.

THE INDIAN rupee today hit a record low against the dollar, as fears about eurozone debt and the global economy as well as falling local stock markets provoked further selling of the currency.

The rupee plunged to 52.50 against the greenback as foreign exchange markets opened, causing further problems for the Indian central bank as it tries to rein in near double-digit inflation.

The weakening rupee is expected to fuel domestic inflation because oil imports priced in dollars will become more expensive, translating into higher prices for local consumers and businesses.

“It (the weakening rupee) is disruptive, there is no.......

A GERMAN dairy company has brought out a new range of yoghurt smoothies with a Indian twist.

A GERMAN dairy company has brought out a new range of yoghurt smoothies with a Indian twist.

Andechser Organic Lassi Yogurt Smoothies combines fruit smoothies with natural yoghurt to create a unique drink.

Dairy farmers since 1908, Andechser has established itself as a leading organic dairy producer in Europe.

The new lassi inspired drink made from natural ingredients from real fruit or spices rather than added flavours, has two flavours to choose from.

Mango; made with the nutritionally rich superfruit known for its unique taste (14% Alphonso Mango and.......

INDIA’S leading share index of blue chip firms plunged 3.65 per cent to a two-year low due to growing concerns about high inflation, slowing growth and evidence of political deadlock.

By Taru Sugandha Dhir
 

INDIA’S leading share index of blue chip firms plunged 3.65 per cent to a two-year low due to growing concerns about high inflation, slowing growth and evidence of political deadlock.
 

"The market is in a disaster zone," said Hemen Kapadia, chief executive of investment advisory firm Chart Pundit in the financial capital, Mumbai.
 

"There is no second-round of reform and rising interest rates and slowing growth are pulling the market down. The government has failed on all fronts."
 

India's parliament adjourned for a second day running today (23).......

PAKISTAN must ensure few things, including normalisation of ties with India, rebalancing civil- military relationship and reviving the economy, before it can be safely put in the category of a "normal" state, an eminent American scholar has said.

By Taru Sugandha Dhir
 

PAKISTAN must ensure few things, including normalisation of ties with India, rebalancing civil- military relationship and reviving the economy, before it can be safely put in the category of a "normal" state, an eminent American scholar has said.
 

"Five or six things must happen before Pakistan can be safely put in the normal state category," eminent American scholar Stephen P Cohen said amidst increasing perception in the western world, the United States in particular that Pakistan is either on the verge or headed towards being a failed state.
 

"They include.......

THE INDIAN rupee is up by 35 paise (0.0043 pence) at Rs 51.90 (64 pence) per US dollar in early trade on fresh selling of the American currency by banks and exporters influenced by dollar weakness in overseas markets amid a rally in domestic equities.

By Taru Sugandha Dhir
 

THE INDIAN rupee is up by 35 paise (0.0043 pence) at Rs 51.90 (64 pence) per US dollar in early trade on fresh selling of the American currency by banks and exporters influenced by dollar weakness in overseas markets amid a rally in domestic equities.
 

The rupee resumed higher at Rs 52.06 (65 pence) per dollar on the Interbank Foreign Exchange as against last weekend's close of Rs 52.25 per dollar and moved up further to Rs 51.90 per dollar before quoting at Rs 52.08 per dollar.
 

The domestic currency.......