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November 9: News pics for the day

  • November 9: News pics for the day

    November 9: News pics for the day

  • Moodys downgrades Indian banks

    A labourer works on the sign of a bank building in Ahmedabad

    Moody's Investor Service on Wednesday downgraded its outlook for India's banking system to "negative" from "stable", as it warned of slowing growth at home and overseas hitting asset quality, capitalization and profitability.

    A curbing of economic growth and increased borrowing by the government will drain funds from the private credit market, the ratings agency said in a statement, pressuring lenders in Asia's third-largest economy.

  • No downsizing at Jet Airways

    A Jet Airways aircraft waits for take off on the tarmac at the airport in Mumbai

    Jet Airways, India's top private carrier, said on Wednesday it has no plans to cut jobs in drive to save costs and instead look to non-payroll areas to streamline operations.

    On Wednesday, the Economic Times paper reported, citing unnamed top executives, that Jet was considering cutting up to 10% of its workforce.

    "In view of spiralling operational costs and increase in fuel prices, Jet Airways is continually looking at several non-payroll areas at cutting costs," the firm said in an e-mail response to Reuters.

  • Gold futures hit record high

    A saleswoman displays a gold necklace at a jewellery shop in Agartala

    Gold futures in India, the world's top consumer, extended the previous session's gains on Wednesday evening to hit a record high of Rs 29,095 on the wings of a firm world market and boosted by a weak rupee at home.

    At 6:45 pm, the most-active gold for December delivery on the Multi Commodity Exchange (MCX) was 0.97% higher at Rs 29,057 per 10 grams, easing from an high of Rs 29,095 earlier in the session.

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