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Nevin John
New Delhi, July 19, 2018
The top industrialists in the country have been quite reluctant in publicly voicing their concerns about the economy in all these years. The scene is changing now.


BusinessToday.In
New Delhi, July 19, 2018
Contrary to expectations, gold prices have been dipping steadily over the past few weeks. In fact, according to Reuters, the yellow metal extended falls to a one-year low in the global markets today.


BusinessToday.In
New Delhi, July 19, 2018
Govt to withdraw FRDI Bill in current Parliament session; Air India disinvestment is not possible due to high oil prices and forex conditions, says Jayant Sinha and global cyrptocurrency valuation went up by over $20 billion as the world's most popular crypto Bitcoin saw its price surge from $6900 to $8000 within 30 minutes. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.


Mail Today Bureau
July 19, 2018
Addressing shareholders at the annual general meeting of the group flagship Ultratech Cement, Birla noted that the economy has shown considerable resilience to the transitory effects on demonetisation and GST rollout.


BusinessToday.In
July 18, 2018
The Sensex tumbled from its all-time high in choppy trade after a no-confidence motion against the Modi government was moved in the Lok Sabha.Speaker Sumitra Mahajan said she would announce the date for a debate on it in \"2-3 days\".While the Sensex slipped 147 points to 36,373, Nifty fell 27 points to 10,980. The Nifty too slipped below the psychologically important 11,000 mark.The Sensex swung about 427 points on alternate bouts of buying and selling during the volatile session.The Sensex rose over 200 points in early trade today to a fresh lifetime high of 36,747 amid buying by domestic institutional investors and easing global crude oil prices.The gauge had gained 196.19 points in the previous session after a sharp drop in global crude oil prices.Metals, realty, telecom, auto, FMCG, power and banking stocks came under selling pressure.Brokers said apart from profit-booking at record levels by participants, political developments, fresh weakness in the rupee and unabated foreign fund outflows hurt trading sentiment.Foreign portfolio investors (FPIs) sold shares worth a net of Rs 673.99 crore on Tuesday, while domestic institutional investors (DIIs) bought shares worth Rs 840.06 crore, data released by bourses showed.


BusinessToday.In
New Delhi, July 18, 2018
Top IITs, IIMs students bag up to 137% higher salary packages than other institutions this year: ReportTop IITs and IIMs bagged 137% and 121% higher salary packages, respectively, compared to other institutions, says the Campus Hiring Report 2018 released by assessment and skill-measurement company Mettl. The survey was conducted across 114 engineering and 80 management institutes during the recently concluded campus placement season across different regions. In a region-wise analysis, west India held a leading position with 17% higher compensations than the average salary recorded. In addition, graduates from the technology domain received the highest average salary package of Rs 14.8 lakh per annum.  India's growth remains quite robust into future: IMF  India's growth remains \"quite robust\" into the future, the IMF has said despite slightly downgrading the country's growth projection for 2018-19 due to high oil prices and a tight monetary policy regime. The IMF yesterday forecast a growth rate of 7.3 per cent in 2018 and 7.5 per cent in 2019 for India, which was down by 0.1 per cent and 0.3 per cent respectively than its April projections. \"For India, the main factor is the rise in oil prices, and India is an oil importer. But also, the general tightening in global financial conditions is playing a role in affecting India's growth. Those are the main factors behind the downgrade,\" said Maurice Obstfeld, Economic Counsellor and Director of the Research Department, IMF. Sugar stockpile to double on record output as India struggles to export surplusSugar stocks in India are likely to more than double by the end of the current marketing year as the world's biggest producer of the sweetener struggles to export a surplus, a leading trade body said on Tuesday. The rise will weigh on local prices, potentially pushing the country to try to ship more sugar overseas, which could drag on global prices that have already fallen 16 per cent this year.The country is likely to end the marketing season on September 30 with inventory of 10 million tonnes, compared with 3.87 million tonnes a year agoCivilian drones likely to take to skies from October  Drones for civilian purposes are likely to start flying in India from October onwards, a senior official said, as the Civil Aviation Ministry expects to soon put in place the regulatory framework for unmanned aerial vehicles. The use of drones by civilians is currently restricted by aviation regulator DGCA.Civil Aviation Secretary R N Choubey said the ministry is working on putting in place a system wherein registration and flying permission for civilian drones are done online. In November 2017, the ministry came out with draft norms for draft norms for operating drones for civilian purposes.According to the draft regulations, drones would require unique identification numbers while nano drones -- those weighing below 250 grams -- would be exempt from seeking one time approval.  Akshay Kumar, Salman Khan among Forbes' 100 highest-paid celebs in worldBollywood superstars Akshay Kumar and Salman Khan feature in the Forbes' list of the world's 100 highest-paid entertainers for 2018. While Akshay is 76th on the list, Salman finished at number 82. American boxer Floyd Mayweather tops the prestigious rich list of entertainers this year with earnings of $285 million (Rs 1,948 crore), while Hollywood star George Clooney holds the second spot with a $239 million (Rs 1,634 crore) income.Reality television personality Kylie Jenner is at number three with $166.5 million (Rs 1,138 crore).


BusinessToday.In
July 18, 2018
Traders said positive cues from other Asian markets, tracking overnight gains in the US market following upbeat remarks from Federal Reserve Chairman Jerome Powell during his congressional testimony boosted investor sentiment.


BusinessToday.In
July 17, 2018
The market recovered in trade today as oil, metal and PSU stocks rallied after a sharp drop in global crude oil prices. While the Sensex closed 196 points higher at 36,519,  the Nifty rose 71 points to 11,008 level Sentiment received a boost after global crude oil prices fell over 4 per cent owing to oversupply fears, helping the rupee to strengthen against the dollar, brokers said.Besides, reports that the finance ministry is likely to infuse about Rs 10,000 crore within a few days in some state-owned lenders including PNB, Corporation Bank and Central Bank of India, to help them meet regulatory capital requirement too accelerated the buying pace, they added.State-run lender SBI emerged as top gainer on Sensex rising 2.98 per cent, followed by Sun Pharma 2.97 per cent.Gains were wide-spread as mid-cap and small-cap indices firmed up by 2.14 per cent and 1.12 per cent respectively as retailers accumulated selective stocks at prevailing attractive levels.Shares of state-owned HPCL, Indian Oil Corporation, BPCL and ONGC rose up to 6.31 per cent on fall in global crude prices. Globally, Brent crude dipped below the $72-mark, to quote at $71.67 a barrel, while WTI slipped to $66.89 a barrel.Aviation stocks such as InterGlobe Aviation and Spicejet climbed up to 2.02 per cent as declining oil prices are beneficial for this sector which would reduce fuel bill burden.Sectorally, BSE PSU rose the most by 2.32 per cent followed by oil & gas 2.19 per cent and metal 1.91 per cent among others.


PTI
July 17, 2018
Sentiment got a boost after global crude oil prices dropped by over 4 per cent yesterday owing to oversupply fears, helping the rupee to strengthen against the dollar, brokers said.


PTI
July 16, 2018
The Wholesale Price Index (WPI) based inflation stood at 4.43 per cent in May and 0.90 per cent in June last year.


PTI
New Delhi, July 15, 2018
Continuing their selling spree, foreign investors have pulled out nearly Rs 1,200 crore from the debt markets in the first two weeks of the month on higher fuel prices and possibilities of rate hike by the US Federal Reserve.


BusinessToday.In
July 14, 2018
The trade deficit in June 2018 is the highest since November 2014 when the gap was USD 16.86 billion. The deficit in June 2017 stood at USD 12.96 billion.


Aseem Thapliyal
July 12, 2018
The Nifty ended above 11, 000 level for the first time since February 1 and is now 2% away from record highs. Sensex hit all-time high of 36,699 intra day after opening at 36,424 level.


BusinessToday.In
July 12, 2018
Though India is yet to make its stand on Iran oil official, Indian refiners have reportedly already started cutting down on imports.


BusinessToday.In
July 12, 2018
US crude oil prices too fell 5% to $70.38 a barrel - their worst one-day fall in a year. The fall follows a months-long rally that saw oil prices rising to record highs in recent years.


BusinessToday.In
July 8, 2018
Last month, petroleum prices were cut 14 times after hitting an all-time high of Rs 78.43 a litre for petrol and Rs 69.31 for diesel on May 29. Petrol price dropped by Rs 2 a litre and diesel by Rs 1.46.


BusinessToday.In
July 6, 2018
\"We are pretty bearish (on the rupee) at this moment, given all the circumstances combined. Not only high oil prices but also the trade war that has been taking off,\" Hugo Erken, senior economist at Rabobank told Reuters.


BusinessToday.In
New Delhi, July 5, 2018
The OPEC nations that comprised 15-member countries and Non-OPECnations, led by Russia, have been withholding oil production to boost the prices. The US plan to reintroduce oil exporting sanctions against Iran from November has also given rise to crude oil prices.


BusinessToday.In
New Delhi, July 5, 2018
The three state-owned fuel retailers, IOC, Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) had not revised petrol and diesel prices since June 26 before which it was on a steady decline.


BusinessToday.In
July 3, 2018
In early April, India's foreign exchange reserves had hit a life-time high of $424.864 billion, and was cited by Asian Development Bank's Chief Economist Yasuyuki Sawada as the reason why India did not need to worry much about currency fluctuations.


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