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Rupee Crashes To 6-Mth Low Of 65.10 On Panic Dollar Buying

The rupee on Monday suffered a yet another blow to plunge by a whopping 31 paise at a fresh six-month low of 65.10 a dollar after heavy buying of the US currency and concerns on the macroeconomic front. This was ...

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Planning to remit money to India? Send now or wait

The rupee has been going strong after India’s recent demonetisation drive. With India’s recent demonetisation drive injecting fresh liquidity into the country’s banking sector, the rupee has emerged much stronger  – an outcome that was initially considered unlikely of not ...

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Rush to buy gold as prices drop to 5-month low

Gold on Friday fell to its lowest level since late May as the dollar surged to its highest in more than 13-1/2 years on expectations for a US rate hike next month and higher fiscal spending from US President-elect Donald ...

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As Raghuram Rajan departs, RBI opens door to Islamic finance

India’s central bank has proposed working with the government to introduce interest-free banking to tackle financial exclusion for religious reasons, potentially opening Islamic finance to the largest Muslim minority population in the world. The Reserve Bank of India (RBI) made ...

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Raghuram Rajan era ends at RBI; new Governor Urjit Patel likely to continue policies

Raghuram Rajan on Sunday completed his three-year tenure as the Governor of the Reserve Bank of India (RBI), bringing the curtain down on an eventful period that witnessed several charges, counter-charges on inflation, growth and interest rates as well as ...

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Mukesh Ambani keeps salary capped at Rs 15 cr for 8th year

NEW DELHI: Reliance Industries’ chairman and managing director Mukesh Ambani kept his annual salary capped at Rs 15 crore for the eighth year in a row even as the remuneration of all executive directors on firm’s board rose. Ambani, the ...

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Flipkart Confirms Lay-Offs, Estimates Range From 300 To 700

Days after revealing that it’s buying fashion site Jabong for $70 million, Flipkart, India’s largest e-commerce company, has announced lay-offs. Without commenting on how many people it will pink slip, a company statement said that it is asking under-performers to ...

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Triple honours for Etihad Airways’ First Class at Skytrax World Airlines Awards

Etihad Airways has received three highly coveted awards for the World’s Best First Class Airline, World’s Best First Class Onboard Catering, and World’s Best First Class Airline Seat for its First Apartments and Suites, at the annual Skytrax World Airline ...

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Cabinet Clears Aviation Policy, Better Fares, Easier Air Travel Soon: 10 Points

NEW DELHI:  A long-awaited new civil aviation policy that eases rules for airlines to fly overseas and seeks to increase regional air connectivity and encourage more people to fly has been cleared by the cabinet on Wednesday morning. Here is ...

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Islamic banking catches on

Allowing the Islamic Development Bank (IDB) to open its first branch in Ahmedabad is a refreshing step. It was part of an MoU signed between IDB and India’s EXIM Bank during Prime Minister Narendra Modi’s visit to United Arab Emirates ...

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Chidambaram wonders if Modi govt ‘deserves’ Rajan

Former finance minister P Chidambaram today wondered whether the Modi government “deserves” Raghuram Rajan, describing him as “one of the most outstanding economists in the world”, amid an unrelenting attack by BJP MP Subramanian Swamy against the Governor. “I am ...

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Islamic banking to debut in Gujarat

Gandhinagar, May 26: Jeddah-based Islamic Development Bank (IDB) is set to start its India operations from Gujarat. The international financial institution from Saudi Arabia has chosen Gujarat to set up its first branch in India. The state will also get ...

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Petrol price cut by Rs.3.02 a litre, diesel hiked by Rs.1.47

NEW DELHI: State-run Indian Oil Corporation moved in contrary directions on Monday, cutting the petrol price by Rs.3.02 a litre, but raising diesel by Rs.1.47, both in Delhi, with corresponding changes in other states and effective midnight. IANS

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NRI alert: Remittance bonanza as rupee hits 18.75 vs Dh1

The Indian rupee fell to record lows of 68.85 to the dollar (18.74 to the UAE dirham) on Friday, February 19, 2016. Analysts and traders expect the rupee to continue trending lower in the weeks and months to come. “The ...

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