The Indian rupee on Wednesday closed at its all-time low of 50.02/03 against the greenback after losing 35 paise on relentless capital outflows, sustained demand for US dollar and weak equity markets.
While U.S. automakers plead for emergency loans from Washington, China's still-young car manufacturers are also appealing for their government's help amid a sales slump.
A government report says construction of new homes plunged 4.5 per cent last month to the lowest level on government records, as US builders slashed production while Wall Street nosedived.
The Indian IT industry will retain employees but will go slow on hiring this fiscal (2008-09) following declining growth rate, the organisation representing the industry said here on Wednesday.
Seeking to downplay criticism over lack of job opportunities for Maharashtrians in the state industries, the state government today said the proposed 131 SEZs in Maharashtra would create 59 lakh jobs.
The main opposition Bharatiya Janata Party's prime ministerial candidate L K Advani will meet industrialists tomorrow to find out how bad the current economic crisis is, and ways to mitigate its impact.
While the Arabian Gulf construction boom may be reaching a peak, the world's major suppliers of furniture, fixtures and fittings to hotels and resorts are descending on Dubai in pursuit of multi-billion dollar contracts, according to industry experts.
Auto loans portfolio of public sector banks is expected to rise despite of the slowdown trapping the economy. Major PSU banks expect that loans for cars and other passenger vehicle will go up by almost 20%-25% in the ongoing fiscal.
India's second largest private lender, HDFC Bank announces that it is eager to raise funds through international borrowing and is waiting for the detailed guidelines of Reserve Bank of India (RBI).On November 15th, RBI scaled down banks' provisioning norms for
