Rupee slips down against dollar on oil price increase

Mumbai (IANS) Rising international oil prices saw the Indian rupee depreciating to Rs 81.94 against the US dollar.

The rupee opened at Rs 81.52 on Thursday at the interbank forex market and then went down to Rs 81.94.

Experts said demand…

OPEC announces big cut in oil production

London (IANS) OPEC+ said on Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the Covid-19 pandemic, media reports said.

The group of major oil producers, which includes Saudi Arabia…

Slow recovery of low income households slowed down India's economic recovery

Chennai (IANS) The slow economic recovery of the low income households post Covid-19 pandemic has resulted in the overall economic recovery of the country, said Kotak Securities Ltd.

In a research report, Kotak Securities said, post Covid-19…

Plea seeks NGT to look into flat construction sans EC in Delhi

New Delhi (IANS) A plea before the National Green Tribunal has sought directions against the construction of a housing project at GT Road adjoining Model Town, Delhi allegedly violating Environmental Clearance.

The applicant Victoria Gardens…

Indian crypto exchange WazirX fires 40% of staff: Report

New Delhi (IANS) Amid the current global economic slowdown, crypto exchange WazirX has reportedly laid off 40 per cent of its total workforce.

A total of 50 to 70 employees of the 150 workers at the exchange were asked to go, CoinDesk reported,…

Honda Motorcycles and Scooter overtakes Hero Motorcorp in retail sales

Chennai (IANS) The month of September 2022 saw Honda Motorcycle and Scooter India overtaking the world's largest two-wheeler maker Hero Motocorp Ltd in terms of retail sales.

Last month, over 2.85 lakh two wheelers, rolled out by Honda…

RBI does not have fixed dollar-rupee exchange rate: Governor

Chennai (IANS) The Reserve Bank of India (RBI) does not have any fixed dollar-rupee exchange rate and its market interventions are to curb excessive volatility, said Governor Shaktikanta Das.

He also said the aspect of adequacy of forex reserves…

Hike in repo rate likely to impact affordable housing

New Delhi (IANS) The 50 basis points hike in the repo rate coupled with inflationary pressure is likely to impact the sentiment of the Housing sector particularly in the affordable and mid-range housing segments.

While the hike is on the expected…

100 mn Indian mobile users want 5G, half of them won't mind paying extra

New Delhi (IANS) More than 100 million users with 5G-ready smartphones in India wish to upgrade to a 5G subscription in 2023, while more than half of them are open to upgrading to a higher data tier plan in the next 12 months, an Ericsson report said…

Rupee slides to all-time low of 81.93 against US dollar

Mumbai (IANS) The Indian rupee has depreciated to trade at an all-time low of 81.93 against the US dollar after the surge in dollar index, dealers said.

At the interbank foreign exchange, the rupee opened at 81.90 against the dollar, then fell…