India's crude steel output falls by 1.3 pct in November – The Financial Express

Indias crude steel output dipped by 1.3 per cent to 8.49 million tonne (MT) in November, according to the World Steel Association.Japans output fell 0.5 per cent to 8.66 MT in the reported month.Indias crude steel output dipped by 1.3 per cent to 8.49 million tonne (MT) in November, according to the World Steel Association.The country had produced 8.60 MT of crude steel during the same month a year ago, the global industry body said in its latest report.In October, India registered a marginal gr...
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Costly bailout: Rs 1.7 lakh cr infused into public sector banks; Rs 3.3 lakh cr notional loss in market cap – The Financial Express

Compared to a situation where PSBs retained their share in bank m-cap, it would mean a notional loss of Rs 3.28 lakh crore.Costly PSB bailout: Rs 1.7 lakh cr infused; Rs 3.3 lakh cr notional loss in M-capThe share of public sector banks (PSBs) in total bank market capitalisation has plunged to just 25.59% now from 42.93% on May 23, 2014, just before PM Narendra Modi came to power. Compared to a situation where PSBs retained their share in bank m-cap, it would mean a notional loss of Rs 3.28 lakh...
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Coal India banks on 8 railway corridors to boost productivity – The Financial Express

Coal India (CIL) will be able to reach near its aspirational goal of producing 1 billion tonne by 2022-23 if all the eight proposed railway corridors are in place by then. Coal India banks on 8 railway corridors to boost productivityCoal India (CIL) will be able to reach near its aspirational goal of producing 1 billion tonne by 2022-23 if all the eight proposed railway corridors are in place by then. Unless there can be a support system to evacuate an incremental coal production of 350 million ...
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Asian stocks slide, investors rush to yen and bonds – The Financial Express

Sentiment had turned sour on Thursday when the U.S. Federal Reserve largely retained plans to increase interest rates despite mounting risks to growth.Chinese blue chips lost 1.2 percent, in part after the United States accused Beijing of orchestrating the hacking of government agencies and companies around the world. (Representational photo)Global stocks were sailing into Christmas on a sea of red on Friday, as the threat of a U.S. government shutdown and of further hikes in U.S. borrowing cost...
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Crude oil prices rise as OPEC output cuts seen deeper than previously expected – The Financial Express

Oil prices climbed on Friday after tumbling 5 percent in the last session, with OPEC production cuts that start next month seen being deeper then previously expected.Oil Prices are down more than 30 percent from their peak in October.Oil prices climbed on Friday after tumbling 5 percent in the last session, with OPEC production cuts that start next month seen being deeper then previously expected.Benchmark Brent crude futures were up 1.51 percent at $55.17 per barrel at 0112 GMT, recovering from...
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RBI to issue consolidated norms for forex loans, masala bonds by month end; key things to know – The Financial Express

In a bid to consolidate the regulations pertaining to borrowing and lending transactions of resident Indians as well as others the Reserve Bank of India (RBI) will issue consolidated norms for forex loans as well as masala bonds. The RBI will also issue draft directions for allowing non-resident Indians access to the Rupee Interest Rate Derivatives (IRD) market in India for non-hedging purposes.In a bid to consolidate the regulations pertaining to borrowing and lending transactions of resident I...
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Bank shares fall up to 3.5% as RBI keeps rates unchanged; IDFC, IndusInd, ICICI Bank major losers – The Financial Express

As Reserve Bank of India (RBI), in its 5th bi-monthly monetary policy review, kept the key rates unchanged, the shares of banks plunged up to 3.5 percent. The BSE Sensex plunged 249.90 points, or 0.69 percent, to close at 35,884.41.As Reserve Bank of India (RBI), in its 5th bi-monthly monetary policy review, kept the key rates unchanged, the shares of banks plunged up to 3.5 percent. The stock price of IDFC bank fell 3.46 percent, IndusInd bank 2 percent, ICICI bank 1.93 percent on the BSE today...
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US dollar struggles near 1-month low, risk aversion boosts Japanese yen – The Financial Express

The dollar index against a basket of six major currencies stood near 96.30 after falling to 96.168 overnight, its lowest since Nov. 20. The index has lost roughly 1.2 percent this week.The dollar hovered near a one-month low against its peers on Friday, weighed down by a subdued outlook towards U.S. interest rates and the economy, while risk aversion in the broader markets boosted the yen.The dollar index against a basket of six major currencies stood near 96.30 after falling to 96.168 overnight...
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Gold losing it's glitter: Palladium outshines yellow metal Gold; key things to know – The Financial Express

Gold just got left behind by one of its sister metals. After a demand-fueled rally over the past four months that’s seen prices hit successive records, palladium topped gold.Palladium, which hasn’t traded at a sustained premium to gold in 16 years, has gained as buyers scramble for supplies of the metal used in vehicle smog-control devices.Gold just got left behind by one of its sister metals. After a demand-fueled rally over the past four months that’s seen prices hit successive records, pallad...
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Wall Street slides on Fed plans; Nasdaq flirts with bear territory – The Financial Express

Of the SPs 11 major sectors, only utilities ended in positive territory. Energy stocks slid 2.8 percent as oil prices dropped to their lowest levels in a year.The SP 500 posted no new 52-week highs and 175 new lows; the Nasdaq Composite recorded three new highs and 858 new lows.U.S. stocks slid on Thursday, with the Nasdaq on the cusp of confirming bear market territory, as the Federal Reserves plan to continue its balance sheet reduction and the threat of a partial government shutdown fueled in...
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