Policy amended, international trade can now be settled in Rupee
The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry on Friday notified the changes to the policy. The central bank allowed authorised banks in India to open special rupee Vostro accounts of correspondent banks of any partner trading country to facilitate trade in the Indian currency.
India faces heat at WTO over rice export curbs
At a meeting on Thursday, the United States, the European Union and Senegal posed questions about the decision’s adverse effect on global markets. They said it would cause market volatility and undermine collective efforts in fighting the world food crisis.
IBBI working to address issues concerning insolvency resolution process: Official
IBBI Executive Director Sandip Garg, who was speaking at a conference organised by industry body Assocham, said that the insolvency law has kept pace with the emerging market requirements and will remain relevant for all times to come.
Prime Minister Narendra Modi to launch national logistics policy on Saturday
“The need for a national logistics policy was felt since the logistics cost in India is high as compared to other developed economies. It is imperative to reduce the logistics cost in India for improving the competitiveness of Indian goods both in domestic as well as export markets,” an official statement said on Friday.
Nifty forms bearish candle on daily and weekly charts; what should investors do on Monday?
The Nifty50 closed 346 points lower at 17,530. On a weekly basis, the index corrected 1.7 per cent. It formed a bearish engulfing candle after two consecutive bullish candles, which suggests that the momentum could take a breather.
Nifty Bank: Key levels to watch out for on Monday
Nifty Bank formed a small-bodied Bearish candle on the daily scale and an inverted hammer on the weekly frame. Now, till it holds below 41,000 zones, weakness could be seen towards 40,500 and 40,250 zones, whereas resistance is at 41,250 and 41,500 zones.
Patanjali will launch at least 4 IPOs in next 5 years: Baba Ramdev
Following the announcement, shares of Patanjali Foods, which was earlier known as Ruchi Soya and eventually re-branded following the acquisition by Baba Ramdev-led Patanjali Ayurved, were trading 0.6 per cent higher at Rs 1,351 at 1 pm. The stock has rallied nearly 60 per cent year-to-date.
Pound falls to 37-year low as poor retail sales lift economic woes
The pound fell more than 1% against the dollar to 1.1351, its lowest since 1985, its fall accelerating once it passed through the then 37-year low hit last week.
Despite correction, Vedanta can unearth up to 20% returns for you. Here’s why
Vedanta had emerged as the highest bidder for two coal mines in Odisha on the second day of commercial coal mines auction. The government put on sale 10 coal mines under the commercial coal mine auction.
Chart Check: Golden Crossover in this Tata stock signals buy in short term; here’s why
After the short correction Tata Motors stock has bottomed out near 440 levels and has witnessed a decent pullback to improve the bias, Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher Pvt. Ltd, said.