Sensex ends 550 points down on weak rupee, RBI rate hike fears

Mumbai (IANS): Amidst a weak rupee and a likely hike in interest rates by the Reserve Bank of India (RBI), the key Indian equity indices closed in the red on Wednesday, with the S&P BSE Sensex closing 550 points lower, and the Nifty50 below the…

Bank Of Maharashtra closes 51 branches to cut costs

Pune (Maharashtra) (IANS): The Bank Of Maharashtra (BoM) has closed 51 branches across the country as part of cost-cutting measures in the banking industry, an official said on Wednesday.

All the closed branches were in urban centres and were…

US dollar ticks up amid uncertainty in Europe

New York (IANS) The US dollar rose as British pound and euro turned weaker.

The US dollar appreciated almost 0.5 percent against the British pound and around 0.25 percent against the euro.

The dollar index, which measures…

US tariffs starting to have effect on global economy: Lagarde

Washington (IANS): International Monetary Fund (IMF) chief Christine Lagarde, has said the current situation of protectionist policies unleashed by the US has begun to have an effect on the global economy, slowing its growth, according to IMF forecasts.

Facebook faces $1.63 bn in EU fine over fresh data breach

Washington (IANS): Embroiled in another massive data breach, Facebook may face $1.63 billion in fine from the European Union (EU) privacy watchdog, the media reported.

According to a report in The Wall Street Journal on Sunday, Ireland's…

Weak global cues depress Indian equity indices

Mumbai (IANS) Decline in the global markets and heavy selling pressure on banking, auto and finance stocks pulled the key Indian equity indices lower on Monday.

Market sentiments were subdued, also due to a weakness in the Indian…

ED attaches Nirav Modi's foreign assets worth Rs 637 cr

New Delhi (IANS): The Enforcement Directorate (ED) said on Monday it has attached foreign properties of fugitive diamond jeweller Nirav Modi worth Rs 637 crore, including two apartments in New Yorks Central Park, in its ongoing investigation into…

IL&FS Board recast, Kotak tasked to restore financial health

Mumbai/New Delhi (IANS)" Under all-round attack over the crisis in the IL&FS, the Central government on Monday superseded the management of the beleaguered company by appointing a six-member Board led by banker Uday Kotak to restore the financial…

Elon Musk steps down as Tesla's Chairman

New York (IANS) Elon Musk has agreed to step down as chairman of Tesla Inc. for three years and pay a $20 million fine in a deal with the stock market regulatory authority, Securities and Exchange Commission (S.E.C.) to resolve securities…

Myanmar-India border trade hits $87 mn

Yangon (IANS): Border trade between Myanmar and India reached $87 million as of September 21 during the six-month transitional period which started in April, the Commerce Ministry said here on Sunday.

Myanmar has changed its fiscal year period…