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Gold demand rises

  • Gold demand rises

    Gold demand rises

  • Sensex shed 25% in 2011

    People walk past the Bombay Stock Exchange building in Mumbai

    The BSE Sensex closed 0.57% lower on Friday and fell nearly 25% on the year, posting its first annual loss in three years.

    The main 30-share BSE index ended 89.01 points down at 15,454.92, with 22 of its components in the red.

    The 50-share NSE index shed 0.47% to 4,624.30.

  • Cyclone Thane lashes southern coast

    A man is drenched by a large wave during high tide as he cycles past at a fishing harbour in Chennai

    Rain and gale force winds lashed the southeast coast on Friday, bringing down walls and power lines and killing at least six people as cyclone Thane made landfall near Chennai.

    With winds of up to 135 kph and tidal surges of up to 5 feet, Thane hit Tamil Nadu, close to the former French colonial town of Pondicherry, forcing some people in coastal villages to seek safety in relief shelters.

    The storm quickly lost strength over land, with winds dropping to 75 kph.

    "There have been six cyclone-related deaths in different villages in this area mainly due to wall collapses or electrocution," said V Amuthavalli, an official in Cuddalore district, one of the worst-hit areas in Tamil Nadu.

    The weather office said Thane, which had moved in from the Bay of Bengal hitting the coast between Cuddalore and Pondicherry at around dawn, would

  • Rupee down on importer demand

    A cashier counts currency notes inside a bank in the northern Indian city of Lucknow

    The rupee was down on Friday due to dollar demand from oil importers and a few foreign banks, with a reversal in domestic equities adding to pressure on the local currency, which is on course for its steepest annual fall since 2008.

    At 3:07 pm (0937 GMT), the rupee was at 53.30/31 to the dollar, down 0.4% from Thursday's close of 53.07/08.

    Traders said any further decline in the rupee was unlikely to be sharp as most expect the central bank to intervene to support the local currency.

  • Govt proposes to provide Air India Rs 33,000 cr

    Air India's newly-acquired Airbus A321 and Boeing 777-200 LR aircrafts are on display at the tarmac of Mumbai airport

    The Aviation Ministry proposes to provide Rs 33,000 crore in assistance to cash-strapped Air India by 2017, as part of the government's 12th Five-Year Plan, according to a working group report seen by Reuters.

    The assistance would include an equity infusion of Rs 19,900 crore, the report shows.