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Let the rupee drift downward

2014-09-19 18:57:37

It is widely accepted that for robust economic growth India needs to stay the course in reducing fiscal imbalances and inflation. It appears that we do not have a similar degree of consensus about the extent of India's external-sector vulnerabilities. For instance, in the wake of Indian equity market gains and a mood of buoyancy, there may be a sense that the rupee's sharp downward correction and volatility ...
Telecom gear maker Ericsson will shut its modems business to focus on other growth opportunities, a move that could impact as many as 1,582 people globally, including in India.India has the second highest number of employees after its headquarters in Sweden.Of the 1,582 employees at its modem division, 689 are in Sweden, 235 in India, 216 in Germany, 206 in China and 122 in Finland.Ericsson stated: ...
Gold prices tumbled by Rs 440 to hit over three-month low of Rs 27,010 per ten gram in the national capital today on heavy selling by stockists, triggered by a weakening global trend. Besides, sluggish demand and subdued global cues also weighed on the precious metal prices. Silver also fell for the third day and shed another Rs 100 to Rs 40,900 per kg on reduced offtake by industrial units and coin ...
Gold prices recovered by Rs 50 to Rs 27,450 per ten gram in the national capital today on scattered buying by jewellers, tracking a firming trend overseas. However, silver remained under selling pressure and fell further by Rs 490 to Rs 41,000 per kg. Traders attributed the recovery in gold prices to a better trend in global markets. Gold in London, which normally sets price trend on the domestic front, ...
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