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Current account slips into deficit
INDIA'S current account slipped into a deficit of $6.4 billion in the second quarter ended September 30, 2004, due to higher oil import bills and a marginal fall in net invisible earnings, according to data released by the Reserve Bank of ...
GDP growth slows in Q2
THE economic growth slowed to 6.6 per cent during the second quarter ended September from 7.4 per cent in the previous quarter, due to a negative growth in the agriculture sector. The agricultural slowdown was so pronounced that even the robust ...
Markets end year on high note Sensex crosses 6600
FOR the second year in a row, the stock market ended on a bullish note on New Year's eve, with the BSE Sensex crossing another milestone of 6600 today, and creating the psychological hope that the coming year would also be bullish. The ...
Rupee at nine-month high; securities fall
MUMBAI: The rupee ended at a nine-month high on the last day of 2004 as dollar nose-dived overseas and banks unwound long-dollar positions amidst higher foreign inflows. Government securities market also saw hectic activity with gilt ...
RBI allows trading in power bonds
THE Reserve Bank of India has allowed trading in Power Bonds that mature in October 2008 and April 2009. The bonds were issued to Central utilities NTPC, NHPC, PowerGrid, Coal India and Neyveli Lignite by more than 20 State Governments against ...
DEPB rates hiked for textiles
AS the global textile trade bids adieu to quota restrictions from January 1, the domestic textile industry's enthusiasm for increased exports to quota-less markets has been somewhat dampened by the Government's move to revise the duty entitlement ...
GoM discusses FDI in print media
THE Group of Ministers (GoM) set up to look into the print media on Friday discussed possible amendments to the Press and Registration of Books (PRB) Act, 1867, and FDI levels in print media. Chaired by the Home Minister, Mr Shivraj Patil, the ...
FDI inflows up 54 pc in 2004
INDIA continued to remain an attractive destination for investment during 2004 with foreign direct investment inflows (FDI) growing by 54 per cent. According to data furnished by the Commerce and Industry Ministry, during January to September ...
ECBs form 32 pc of forex inflows
EXTERNAL commercial borrowings (ECBs) were one of the main sources, contributing 31.8 per cent of accretion to India's foreign exchange reserves during the April-September 2004 period. They contributed $2.1 billion ($0.2 billion) to foreign ...
NHB loan at 5% for tsunami victims
THE National Housing Bank (NHB) will extend refinance to banks and housing finance companies at a concessional rate of 5 per cent against loans provided to individual borrowers affected by the Tsunami tragedy. The banks and HFCs in their turn ...
Inflation falls on cheaper manufactured goods
INFLATION fell by 0.23 per cent to a 23-week low of 6.5 per cent for the fourth consecutive week ended December 18, mainly due to cheaper food items, edibles oils and manufactured products. The point-to-point wholesale price index (WPI) ...
Tsunami effect: Chennai Port Trust plans artificial beach
AS a consequence of last Sunday's tsunami, the Chennai Port Trust (ChPT) plans to create an artificial beach to protect the Chennai port from seaside from such natural disasters. The plan is to have the beach from left of Cooum River (next to ...
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