Business

US Secretary of Commerce Penny Pritzker, in her meeting with Jaitley, too said the US wants to institutionalise the trade relations between the two countries to give it an impetus. There is "a great potential to increase the bilateral trade among the two...

UK-based family office 3 Associates, whose $1.3 billion offer for Sahara's three prized overseas hotels was rejected by the group in July, has reportedly reduced the offer amount.

The 30-share Sensex after a higher opening at 28,012.56, quickly slipped into the negative zone as profit-booking emerged and touched a low of 27,854.43.

Besides, the dollar's weakness against some currencies overseas supported the rupee but early losses in the domestic equity market restricted gains, dealers said.

The rupee opened lower at 66.81 per dollar as against last closing level of 66.72 per dollar at the Inter-bank Foreign Exchange market.

Here's a timeline of how Modi and Finance Minister Arun Jaitley first brought all states on board, before finally closing the deal at a series of meetings with an opposition Congress party that had become increasingly isolated.

In cross-currency trades, the rupee fell against the pound sterling to 87.22 from 86.72 on Tuesday and also dropped against the Japanese yen to end at 65.94 per 100 yens from 65.39. The domestic unit fell against the euro to 74.61 from 74.05.

The domestic bourses have been witnessing a positive trend since the passage of long-pending Goods and Services Tax (GST) Constitutional Amendment bill by Rajya Sabha last week, brokers said.

The 30-share index rose 66.94 points or 0.23% to 28,070.06 with all the sectoral indices led by FMCG, capital goods, auto, healthcare and banking, advancing by up to 1.11 per cent. The gauge had lost 205.48 points in the previous two sessions.

The minimum pay in central government with effect from January 1, 2016 will now be Rs 18,000 per month; at the highest level, it will be Rs 2.5 lakh.

Axis Bank, which is expected to announce Q1 earnings on Friday, fell 3.6% followed by ICICI Bank and SBI with over 2% loss.

Updating its growth projection from the one it issued in April 2017, the IMF said in 2016 and 2017 India is projected to grow at a rate of 7.4 per cent. This it said is a drop of 0.1 per cent in both the years.

According to the just-released US Fed minutes, policymakers decided to put rate hike plans on hold till they get a grip on likely consequences of the Brexit fallout.

The rupee opened higher at 67.23 as against the last Friday's closing level of 67.32 per dollar at the Interbank Foreign Exchange (Forex) market and hovered in a range of 67.1475 and 67.29 before ending at 67.27, showing a gain of 5 paise or 0.07 per cent...

The World Bank President described Reserve Bank chief as a "great" central bank governor, saying he tremendously respected Rajan as an academic.

The Appointments Committee of Cabinet, headed by Prime Minister Narendra Modi, has approved of Vishwanathan's appointment, an official source said.