Search results for ' United Trader'

Rupee slides to all-time low of 82.30 against dollar

Rupee slides to all-time low of 82.30 against dollar

Rediff.com7 Oct 2022

The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.

Rupee falls 40 paise to all-time low of 81.93/USD

Rupee falls 40 paise to all-time low of 81.93/USD

Rediff.com28 Sep 2022

The rupee depreciated 40 paise to an all-time low of 81.93 against the US dollar in early trade on Wednesday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said. At the interbank foreign exchange, the rupee opened at 81.90 against the greenback, then fell to 81.93, registering a fall of 40 paise over its previous closing.

Rupee plunges 58 paise to close at all-time low of 81.67/USD

Rupee plunges 58 paise to close at all-time low of 81.67/USD

Rediff.com26 Sep 2022

The rupee plunged 58 paise to close at an all-time low of 81.67 (provisional) against the US dollar on Monday as the strengthening of the American currency overseas and risk-averse sentiment among investors weighed on the local unit. Moreover, escalation of geopolitical risks due to conflict in Ukraine, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 81.47, then fell further to close at an all-time low of 81.67 against the American currency, registering a decline of 58 paise over its previous close.

Rupee slips below 81 against US dollar for first time

Rupee slips below 81 against US dollar for first time

Rediff.com23 Sep 2022

The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time in early trade on Friday, weighed down by the strong american currency and risk-off sentiment among investors. Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite. Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.

Rupee slumps 51 paise to all-time low of 80.47/USD

Rupee slumps 51 paise to all-time low of 80.47/USD

Rediff.com22 Sep 2022

The rupee depreciated 51 paise to an all-time low of 80.47 against the US dollar in early trade on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance weighed on investor sentiments. At the interbank foreign exchange, the local currency was trading at 80.47 against the dollar, down 51 paise from its previous close. The rupee opened at 80.27 and touched a record low of 80.47 a dollar in initial deals.

New Navy Ensign Triggers Debate On Tamil Naval Feats

New Navy Ensign Triggers Debate On Tamil Naval Feats

Rediff.com7 Sep 2022

While acknowledging Shivaji's naval contributions, questions are being raised about the inadequate acknowledgement of Chola sea-power in southern Tamil Nadu, which dates back by a few centuries, explains N Sathiya Moorthy.

PM spreading fear and hatred: Rahul Gandhi at mega Congress rally

PM spreading fear and hatred: Rahul Gandhi at mega Congress rally

Rediff.com4 Sep 2022

Former Congress president Rahul Gandhi on Sunday accused Prime Minister Narendra Modi and the Bharatiya Janata Party of weakening the country by spreading fear and hatred, and said only the Congress can unite the country and take it to the path of progress.

Meghalaya govt in trouble? BJP to reconsider support

Meghalaya govt in trouble? BJP to reconsider support

Rediff.com4 Sep 2022

'Discussions are on' within the saffron camp, and a final decision on whether to come out of the ruling coalition or not will be taken in one month, he claimed.

Debt-funded acquisitions can put pressure on Adani ratings: S&P

Debt-funded acquisitions can put pressure on Adani ratings: S&P

Rediff.com25 Aug 2022

Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a $10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt.

Adani group is 'deeply overleveraged', warns CreditSights

Adani group is 'deeply overleveraged', warns CreditSights

Rediff.com23 Aug 2022

Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. In a report titled 'Adani Group: Deeply Overleveraged', CreditSights said, "In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies." Starting out as a commodities trader in the late 1980s, the Adani group has diversified from mines, ports and power plants into airports, data centers and defence.

2024 to be a Modi vs Kejriwal battle: Sisodia after raids

2024 to be a Modi vs Kejriwal battle: Sisodia after raids

Rediff.com20 Aug 2022

Addressing a press conference a day after the CBI raid against him, Sisodia expressed apprehension that the agency or the Enforcement Directorate (ED) may arrest him in the next 3-4 days, while Chief Minister Kejriwal, who has been aggressively taking on the Bharatiya Janata Party in Modi's home state, announced on Twitter that he will be touring Gujarat with Sisodia from Monday.

CBI books Sisodia in excise case after day-long raid

CBI books Sisodia in excise case after day-long raid

Rediff.com19 Aug 2022

The Central Bureau of Investigation (CBI) on Friday raided the home of Delhi Deputy Chief Minister Manish Sisodia and 30 other locations in connection with alleged corruption in the implementation of the Delhi Excise Policy.

Can India Deal with Halahal In Amrit Kaal?

Can India Deal with Halahal In Amrit Kaal?

Rediff.com15 Aug 2022

We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.

Rupee falls 37 paise to close at 79.62 against US dollar

Rupee falls 37 paise to close at 79.62 against US dollar

Rediff.com11 Aug 2022

The rupee depreciated by 37 paise to close at 79.62 against the US dollar on Thursday despite sustained foreign capital inflows and a positive trend in equities. At the interbank foreign exchange market, the local currency opened at 79.22 and saw an intra-day high of 79.22 and a low of 79.94 against the American currency. It finally ended at 79.62, down 37 paise over its previous close of 79.25.

India's rising medical devices imports hurt small and medium units

India's rising medical devices imports hurt small and medium units

Rediff.com19 Jul 2022

India's medical devices imports surged 41 per cent to touch Rs 63,200 crore in 2021-22, led by a 48 per cent year-on-year (YoY) jump in imports from China to Rs 13,538 crore, the commerce ministry data analysed by the Association of Indian Medical Device Industry (AiMeD) has showed. Local industry players say this has led to several small and medium units to shut shop. Rakesh Vaid of Usha Fabs, a garments exporter, had started making N95 masks in his Gurgaon factory during the peak of the Covid-19 pandemic.

Rupee bounces back by 17 paise to close at 79.82/USD

Rupee bounces back by 17 paise to close at 79.82/USD

Rediff.com15 Jul 2022

The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency following a recovery in the domestic stocks and weakness in the greenback in overseas markets. The US dollar retreated from the two-decade high levels against a basket of six currencies which supported the rupee sentiment. At the interbank foreign exchange market, the local currency opened at 79.95 and witnessed an intra-day high of 79.82 and a low of 79.96 against the US dollar in the day trade. ,

Rupee falls 22 paise to record low of 79.48 against US dollar

Rupee falls 22 paise to record low of 79.48 against US dollar

Rediff.com11 Jul 2022

The rupee depreciated by 22 paise to close at a fresh lifetime low of 79.48 (provisional) against the US dollar on Monday, tracking a strong greenback overseas and subdued domestic equities. However, receding crude oil prices in the international market restricted the rupee's loss, forex traders said. At the interbank forex market, the local unit opened weak at 79.30 against the greenback and witnessed an intra-day high of 79.24 and a low of 79.49.

No end in sight to price India pays for imported coal

No end in sight to price India pays for imported coal

Rediff.com6 Jul 2022

India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.

Agnipath protests: 1 killed in firing, trains go up in flames

Agnipath protests: 1 killed in firing, trains go up in flames

Rediff.com17 Jun 2022

A man was shot dead in police firing in Telangana's Secunderabad, trains went up in flames, and public and private vehicles attacked, as railway stations and highways turned into battleground in many states on Friday amid burgeoning protests against Agnipath, the contentious defence recruitment scheme.

Rupee falls 20 paise to close at record low of 78.13/USD

Rupee falls 20 paise to close at record low of 78.13/USD

Rediff.com13 Jun 2022

The rupee plunged 20 paise to close at an all-time low of 78.13 against the US dollar on Monday, as a lacklustre trend in domestic equities and stronger greenback overseas weighed on investor sentiments. Forex traders said weak Asian currencies and persistent foreign capital outflows were the other major factors that dragged the local unit down. At the interbank foreign exchange market, the local currency opened at 78.20 and witnessed an intra-day high of 78.02 and a low of 78.29 against the US dollar.

Rupee sinks 19 paise to new low of 77.93 against US dollar

Rupee sinks 19 paise to new low of 77.93 against US dollar

Rediff.com10 Jun 2022

The rupee tumbled 19 paise to close at a fresh lifetime low of 77.93 against the US dollar on Friday as rising crude oil prices and unabated foreign capital outflows soured sentiment. A sell-off in equity markets and stronger greenback overseas also weighed on the domestic unit, forex traders said. At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.93 against the US dollar.

IPS officer among cops injured during protests in Ranchi, Sec 144 imposed

IPS officer among cops injured during protests in Ranchi, Sec 144 imposed

Rediff.com10 Jun 2022

Prohibitory orders were imposed in parts of Ranchi city after some policemen, including an Indian Police Service officer, and others were injured in Ranchi on Friday while trying to control a mob near a temple, an official said.

Food grains shouldn't go the way of COVID vaccines: India at UN

Food grains shouldn't go the way of COVID vaccines: India at UN

Rediff.com19 May 2022

The minister emphasised that India will play its due role in advancing global food security and it will do so in a manner in which it upholds equity, displays compassion, and promotes social justice.

Rupee slips 6 paise to 77.50 against US dollar in early trade

Rupee slips 6 paise to 77.50 against US dollar in early trade

Rediff.com18 May 2022

The rupee depreciated 6 paise to 77.50 against the US dollar in the opening trade on Wednesday as a surging American currency in the overseas markets and persistent foreign fund outflows weighed on investor sentiment. Besides, rising global crude prices impacted the domestic unit, forex traders said. However, a higher opening in the domestic equity market restricted the rupee's fall, they added.

Why are electric two-wheelers in India catching fire?

Why are electric two-wheelers in India catching fire?

Rediff.com12 May 2022

Nearly a decade ago, the first fully electric vehicle (EV) caught fire on the road in the US. It was a model from Tesla, the world's most admired EV maker. A metal fragment punctured the underbelly of the vehicle, penetrating its battery pack, leading to a fire. Indian lawmakers and automakers have had nine years to study the incident (in fact, three Tesla Model Ss caught fire in two months in 2013) but seem to have learnt little.

Rahul kicks off Karnataka tour by calling BJP govt 'most corrupt'

Rahul kicks off Karnataka tour by calling BJP govt 'most corrupt'

Rediff.com1 Apr 2022

Setting the mood for the assembly elections in Karnataka due next year, former Congress President Rahul Gandhi on Friday exhorted party leaders in the state to work together, as he set an ambitious target to win a minimum of 150 seats.

Call for ban on non-Hindu traders near K'taka temples spreads

Call for ban on non-Hindu traders near K'taka temples spreads

Rediff.com26 Mar 2022

Initially, banners were placed during the annual Kaup Marigudi festival in Udupi district, stating that non-Hindu vendors and traders should not be allowed entry.

Gold ETFs log Rs 248-cr outflow in Feb

Gold ETFs log Rs 248-cr outflow in Feb

Rediff.com20 Mar 2022

Gold exchange traded funds (ETFs) witnessed a net outflow of Rs 248 crore in February, making it the second consecutive month of withdrawals as investors preferred equities over other segments on record SIP flows. Net outflows from the gold ETFs were at Rs 452 crore in the month of January. Prior to that, the asset class had seen a net investment of Rs 313 crore, according to the data of Association of Mutual Funds in India (Amfi). Despite the outflows, the category witnessed an increase in net assets under management (AUM) of gold ETFs to Rs 18,727 crore at the end of February from Rs 17,839 crore in January-end.

How Saudi money is changing India's Banarasi hub

How Saudi money is changing India's Banarasi hub

Rediff.com13 Mar 2022

For a village in Azamgarh, Mubarakpur is an aberration. Its streets are clean, roads well-paved, and no open sewage drains are visible anywhere. Although a few houses look derelict, most bear signs of relative affluence, some even opulence. But that is not attributable to the village's marquee industry - silk saree weaving, which is sold as the "Banarasi silk saree" across India. Rather, it's because of the exodus of its residents and those of neighbouring villages to Saudi Arabia and the money repatriated back home.

Oil retreats, still above $100; no supply shocks for India

Oil retreats, still above $100; no supply shocks for India

Rediff.com25 Feb 2022

International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.

Mulayam joins Karhal campaign for son as Amit Shah rallies for rival nearby

Mulayam joins Karhal campaign for son as Amit Shah rallies for rival nearby

Rediff.com17 Feb 2022

Making his first appearance at an election rally, Samajwadi Party patriarch Mulayam Singh Yadav on Thursday sought votes for his son Akhilesh Yadav, promising that his party will fulfil the aspirations of the people.

Full Text: President's joint address to both houses of Parliament

Full Text: President's joint address to both houses of Parliament

Rediff.com31 Jan 2022

Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.

Jhunjhunwala the biggest draw as investors line up to board Akasa

Jhunjhunwala the biggest draw as investors line up to board Akasa

Rediff.com25 Jan 2022

Veterans in the travel industry, a well-known corporate lawyer, and a marquee US-based hedge fund have backed the upcoming low-cost airline Akasa Air. Founded by former Jet Airways chief executive officer (CEO) Vinay Dube, the venture counts ace stock trader and investor Rakesh Jhunjhunwala as its biggest financial backer with an investment of around Rs 300 crore. A person with knowledge of the development said most of the people were well known to Jhunjhunwala and Dube, who approached them during the conception stage.

SP built Haj House, we constructed Kailash Mansarovar Bhawan: Yogi

SP built Haj House, we constructed Kailash Mansarovar Bhawan: Yogi

Rediff.com24 Jan 2022

"Earlier Haj House was made in Ghaziabad. Our government constructed Kailash Mansarovar Bhawan. Earlier the mafia used to harass traders, but now no mafia can dare to grab property of any trader, doctor or a poor person...," he said.

UP minister quits Yogi cabinet, may join Akhilesh; 3 MLAs follow him out

UP minister quits Yogi cabinet, may join Akhilesh; 3 MLAs follow him out

Rediff.com11 Jan 2022

Informing about his decision, Maurya said in a tweet in Hindi, 'Due to the attitude of gross neglect towards Dalits, backwards, farmers, unemployed youth and small and medium-sized traders, I am resigning from the council of ministers of Yogi (Adityanath) of UP.'

The Great Indian Cash Obsession

The Great Indian Cash Obsession

Rediff.com29 Dec 2021

Five years after demonetisation, which sought to curb black money and reduce cash circulation in the economy, 70 per cent of respondents said they paid a large component of the total payment towards a real estate transaction in cash. About 16 per cent said they paid over half the amount in cash, observes Shyamal Majumdar.

UP bizman Peeyush Jain arrested; Rs 177 cr unaccounted cash found

UP bizman Peeyush Jain arrested; Rs 177 cr unaccounted cash found

Rediff.com27 Dec 2021

The finance ministry on Monday said the recent raid on perfume trader Peeyush Jain's house in Kanpur, from where more than Rs 177 cr unaccounted cash was unearthed, was the "biggest ever seizure of cash" by an enforcement agency. The December 26 raid, which resulted in Jain's arrest, included searches at Jain's residential/factory premises in Kannauj, where about Rs 17 crore in cash have been recovered, the ministry said in a release. Further searches are underway at Jain's residential/factory premises in Kannauj.

Rs 177 cr cash, 23 kg gold found from UP bizman

Rs 177 cr cash, 23 kg gold found from UP bizman

Rediff.com27 Dec 2021

The searches since December 22, which resulted in Jain's arrest, also included searches at the trader's residential/factory premises in Kannauj, wherein about Rs 17 crore in cash, 23 kg of gold and 600 kg sandalwood oil having a market value of about Rs 6 crore have been recovered, the ministry said in a release.

Varna and Jati Are Not Same

Varna and Jati Are Not Same

Rediff.com27 Dec 2021

The relative ranking of castes can vary across regions and localities and depends on a number of factors including control over land, wealth, and political power. Castes have often tried to 'upgrade' themselves (a process sociologists refer to as Sanskritization), and sometimes get 'downgraded'. A revealing excerpt from Upinder Singh's Ancient India: Culture Of Contradictions.

UP to impose night curfew, only 200 guests allowed at weddings

UP to impose night curfew, only 200 guests allowed at weddings

Rediff.com24 Dec 2021

These events have to adhere to COVID-19 guidelines, and organisers will be required to inform the local authorities about these, the official said.

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