India is growing impressively says IMF
Terming the Indian growth pattern as “impressive”, the IMF has said it does not foresee overheating of its economy as long as the current monetary policy is in place and its “independence is strengthened”.
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Sensex hits another record of 19k
The stock market benchmark Sensex on Monday crossed the psychologically gratifying 19,000 points mark in a record four trading sessions on frantic buying in a number of front-line stocks.
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FM says Rupee is in uncomfortable zone
Finance Minister P Chidambaram has said that unprecedented foreign investment flows into the rapidly growing economy have pushed the rupee higher into an ‘uncomfortable’ zone.
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Mukesh Ambani amused by reports about his personal wealth
Amused by reports about his personal wealth, Reliance Industries Chairman Mukesh Ambani said that it matters little to him whether his personal fortunes are measured in billions or millions if the country prospers and the company grows.
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Government amended clause for foreign airlines to sign advance agreements
Government on Thursday amended a clause that required airlines of Denmark, Norway and Sweden to sign advance agreements with the Indian fliers, and gave them a freedom to fix fares on commercial basis.
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ICICI cut down interest rate for your dream home
After State Bank of India, country’s largest private sector lender ICICI Bank has cut floating home loan rate by 0.5 per cent to 11 per cent.
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Competition hots up for second richest Indian spot
That the richest Indian Mukesh Ambani has firmly secured his position with a wealth of over USD 55 billion has thrown open an exciting race for the second richest spot, now occupied by his younger brother Anil.
Robust economic growth which has been fuelling the surge in stock markets and in turn inflating the wealth of the rich has made real estate entrepreneur DLF Chairman K P Singh a nagging threat to Anil’s position.
Singh, who owns shares worth Rs 1,34,257 crore (USD 33.5 billion) in his company that is soon to be inducted in the benchmark Sensex, is only about rs 8,000 crore away from elbowing Anil.
Even better, Bharti group chairman Sunil Bharti Mittal too is in the race for who settles second.
Mittal’s net worth as of today, based on the closing of his group’s flagship firm Bharti Airtel, is rs 1,01,712.5 crore. The distance could be easily bridged if the Bharti Airtel continues its present rally.
The scrip appreciated by 3 per cent on the Bombay Stock Exchange to close at rs 1,071.95, whereas that of DLF settled up by 3.1 per cent at rs 892.
While Reliance Industries (Mukesh Ambani) is a major contributor to the present rally in the stock market along with firms in Anil Dhirubhai Ambani Group, DLF and Bharti too have been aiding the surge.
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Ambani brothers are richest in the world
The Indian stock market boom has made the Ambani brothers arguably the richest in the world if one clubs the fortunes of Mukesh and Anil, which at USD 91.41 billion is far ahead of even the Walton family of Wal-Mart.
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Sensex sets 18k cross milestone
The benchmark Sensex on Tuesday set a new milestone by crossing the 18,000-point mark, spending nine sessions to take the last 1,000-points stride on the Bombay Stock Exchange.
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Made in India may replace made in China
Made in India could be the next big economic story with the country challenging China’s position as the leading global manufacturing hub within five years, says a new report.
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