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India Business-Business-The Times of India
News from India by India number one website

Inflation a major concern: PM Prime Minister Manmohan Singh on Friday said rising prices have emerged as a major concern for the government and stepping up productivity is the only way to ensure that economic growth is not inflationary. Subbarao takes charge as RBI governor, says inflation a priority D Subbarao on Friday took charge as the governor of RBI from Y V Reddy and set for himself the immediate task of containing inflation. Toyota launches Corolla Altis; eyes 10% market share Japanese auto major Toyota has launched an advanced version of the Corolla Altis, priced between Rs 10.83 lakh and Rs 12.86 lakh (ex-showroom, Delhi). Rupee falls to lowest since Dec 2006 The rupee fell to its lowest since December 2006 as a stock market slide triggered concerns of further foreign fund outflows. It ended at 44.65/66 against the dollar. Sensex ends 415 pts down: Ranbaxy plunges Equities ended sharply lower on Friday mirroring weak global markets. Realty and banking stocks were the major losers. Deora rules out immediate cut in fuel prices Petroleum Minister Murli Deora on Friday ruled out any immediate cut in fuel prices, saying international prices will have to fall further to trigger a retail price reduction. Interest rates to ease after March: PNB Country's second largest public sector lender Punjab National Bank expects that interest rates will start coming down after March 2009. Europe is destination next for Indian professionals, workers Indian professionals and workers may soon be headed for destinations in Eastern European countries, as 13 million job opportunities are expected to arise there. Mkts open gap-down on weak overseas cues National Stock Exchange’s benchmark Nifty on Friday plunged 81.95 points to 4365.80. Bombay Stock Exchange’s 30-share Sensex shed 330.09 points to 14469.01 from Thursday’s close. Rupee weaker as Asian stocks down The rupee fell in early trade on Friday as local shares are expected to follow weak cues from Asian stocks, leading to foreign fund outflows.