An Indian one rupee coin is seen in this pictureThe rupee tumbled 67 paise to all-time low of Rs 54.46 against the US dollar on the forex market during the midsession today on increased capital outflows and strong demand from importersTraders said the Reserve Bank's efforts to curb the falling rupee have failed to arrest the decline and it has surpassed the previous low of Rs 54.32 set on December 15They said strengthening of the dollar against major currencies in overseas markets, following renewed worries over deepening euro-zone sovereign debt crisis, and lower openings in equity markets world-wide put pressure on the rupee(Photos by Reuters)

May 16: Rupee falls to all-time low

Finance Minister Pranab Mukherjee speaks at the BRICs finance ministers&#39; news conferenceFinance Minister Pranab Mukherjee spoke about the sliding rupee at the Parliament today and said that the government is on top of the situation. He attributed the market slide to the Euro crisis and other international difficultiesHe said that the government will be taking some austerity steps to convey that it is responding to the situation"Concerned over slowdown in economic growth and government taking steps to address it," Pranab Mukherjee assured

Govt taking austerity steps to arrest market slide: FM

A Greek Orthodox priest walks in front of the parliament in Athens&#39; Syntagma (Constitution) squareGreece&#39;s political leaders meet on Wednesday to form a caretaker government to take it to a second election in just over a month, with its euro membership at stake and its president speaking of "fear that could develop into panic" at its banksPresident Karolos Papoulias was forced to call a new vote after failing to cobble together a coalition government. An election on May 6 saw leftist opponents of Greece&#39;s EU/IMF bailout deprive the parties that ran the country for generations of a majorityPolls suggest the radical left are poised to win the re-runThat prospect has shaken faith in Greece&#39;s ability to remain in the single currency and stay solvent, sending the euro and European shares lower, and raising the bond yields that reflect the risk that other European countries will be hurt

Greeks pull funds from banks

Ajay Piramal is seen in MumbaiDrugmaker Piramal Healthcare has agreed to buy a US-based healthcare data provider for Rs 3,440 crore ($635 million) to boost research and development, the company said on Wednesday, a month after it acquired the new molecules division of Germany&#39;s Bayer&#39;sMumbai-based Piramal has been looking to expand its R&D portfolio after it sold its formulations business to US-based Abbott Laboratories for $3.72 billion in 2010The company aims to close the acquisition of Decision Resources Group (DRG), based in Burlington, Massachusetts, by the end of June 30. The unit, with a team of about 300 analysts, is expected to bring in revenues of $160 million in 2012

Piramal Healthcare to buy US firm for Rs 3,440 cr

An investor holds literature explaining the Facebook stock after attending a show for Facebook Inc&#39;s IPOFacebook Inc will increase the size of its initial public offering by 25 percent to raise about $15 billion, a source familiar with the matter said, as strong investor demand for a share of the No.1 social network trumped ongoing debate about the company&#39;s long-term potential to make moneyFacebook, founded eight years ago by Mark Zuckerberg in a Harvard dorm room, will add about 85 million shares to its IPO, floating about 422 million shares in an offering expected on FridayThe expanded size, coupled with Facebook&#39;s recently announced plans to raise the IPO price range, would make Facebook the third-largest initial share sale in U.S. history after Visa Inc and General Motors