Sensex shoots up
Sensex shoots up
Engineers of Oil and Natural Gas Corp (ONGC) stand inside the Kalol oil field in Gujarat
State-run explorer ONGC expects to spend Rs 31,000 crore as capital expenditure in the financial year starting April 2012, chairman and managing director said on Wednesday.
The expenditure will be funded through internal accruals, Sudhir Vasudeva told reporters.
A goldsmith displays gold bangles in his jewellery shop in Istanbul
Gold today zoomed by Rs 1,025, its second biggest rise this year, to Rs 28,990 per 10 grams, on brisk buying by stockists and investors amid a firming global trend and shifting of funds to the precious metal from volatile equity and forex markets.
The rise in the yellow metal's prices is the highest since August 19, 2011, when it had increased by Rs 1,310.
An employee uses checks a currency note at a cash counter inside a bank in Mumbai
Measures initiated by the RBI and Govt to contain rupee:
The RBI sold dollars and bought Rupees in September and October
OVERSEAS BORROWING BY MICRO LENDERS: December 19:
The RBI allowed microfinance institutions to raise up to $10 million during an FY
DEREGULATION OF INTEREST RATES ON NON-RESIDENT DEPOSITS: December 16:
The RBI allowed banks to set interest rates on non-resident external rupee deposits and ordinary non-resident accounts to help attract more capital inflows.
CUTS FX TRADING LIMITS: December 15:
Reduced the net overnight open position limit of authorised dealers in the foreign exchange market
OVERSEAS BORROWING RULES FOR COMPANIES EASED: November 23:
Raised the ceiling on interest rates that companies can pay on foreign loans
FOREIGN INVESTMENT LIMITS IN GOV
A man scratches his head as he looks at a stock quotation board outside a brokerage in Tokyo
European stocks and the euro firmed on Wednesday, enjoying a brief surge after banks borrowed around $489 billion euros from the European Central Bank at its first-ever offer of three-year loans on hopes it will be a significant step toward easing the region's two-year old debt crisis.
The ECB has indicated it wants the ultra-cheap, long-term funding to boost trust in banks, free up money markets and tempt banks to buy Italian and Spanish debt.
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