India's current account deficit at $5.8 bn in first quarterSeptember 30th, 2009 MUMBAI - India's current account deficit stood at $5.8 billion in the first quarter of the current fiscal as compared to $9 billion a year ago, the Reserve Bank of India (RBI) said Wednesday. The bank said in a statement that the capital account "showed a turnaround from a negative balance in the last two quarters of 2008-09 to a positive balance of $6.7 billion during the first quarter of 2009-10".
50 carriers globally lose $6 bn in first halfSeptember 1st, 2009 GENEVA - Over 50 global carriers lost $6 billion (Rs.30,000 crore) in January-June this year, according to the sector's representative body International Air Transport Association. In a statement Tuesday, IATA also said the losses stood at $2.02 billion (Rs.10,000 crore) in the second quarter this year (April-June) and forecast cumulative losses of $9 billion (Rs.45,000) for the year.
Meltdown 101: From China to Luxembourg to the Caribbean, a look at what countries hold US debtAugust 17th, 2009 Meltdown 101: Foreign investments in US debtWASHINGTON — Many Americans know that China holds the most U.S. Treasury debt, followed by Japan.
India gets $7 bn FDI in first quarterAugust 14th, 2009 KOLKATA - India received $7 billion in foreign direct investment (FDI) during the first quarter of the current fiscal, a senior official said here Friday. "For the April-June period there was an approximate $2 billion FDI inflow every month," Gopal Krishna, joint secretary to the Department of Industrial Policy and Promotion, said during an interactive session organised by Indian Chamber of Commerce.
India receives five times more FDI in April-June quarter: RBIAugust 13th, 2009 NEW DELHI - Signs of India's economic recovery appear to have lifted confidence levels among foreign investors, as the country received a foreign investment flow that was five times more in the in April-June quarter this year. According to data released by the Reserve Bank of India (RBI), in the preceding quarter of January- March, the country received three billion US dollars worth of foreign investment, while in the April-June quarter it received 15-billion US dollars in foreign investment.
Treasury to auction a record $75 billion in notes, bonds to deal with soaring government debtAugust 5th, 2009 Treasury to auction a record $75B in 3QWASHINGTON — The Treasury Department on Wednesday said it will raise a record $75 billion in a series of auctions next week to help deal with the government's soaring debt. The $75 billion surpasses the $71 billion record set in the prior three-month period.
Garment exports slip 15.4 percent in first quarterAugust 4th, 2009 NEW DELHI - Garment exports fell 15.4 percent in the first quarter this fiscal, an industry body said Tuesday. According to data released by the Apparel Export Promotion Council (AEPC), India exported garments worth $2.41 billion in the quarter ended June 30 as compared to $2.85 billion it earned in the like period last year.
Treasury reduces borrowing estimate for third quarter due partly to bank bailout repaymentsAugust 3rd, 2009 Treasury reduces 3Q borrowing estimate to $406BWASHINGTON — The Treasury Department on Monday reduced its borrowing estimate in the current July-September quarter by $109 billion, some rare good news about the government's financial needs. Borrowing will reach $406 billion in the third quarter, the department said, down from its April estimate of $515 billion.
German industrial conglomerate Siemens 3Q net profit down 7 percent to euro1.3 billionJuly 30th, 2009 Siemens 3Q net profit euro1.3 billion, down 7 percentFRANKFURT — German industrial conglomerate Siemens AG said Thursday its net profit for its fiscal third quarter fell 7 percent as the global recession curbed demand for its products which range from light bulbs to high-speed trains. The Munich-based company said net profit in the April-June period fell to euro1.3 billion ($1.8 billion) from euro1.4 billion in the year-ago quarter.
Nintendo profit down 60.6 percent in April-June on fewer hit titles, stronger yenJuly 30th, 2009 Nintendo profit down 60.6 percent in April-JuneTOKYO — Nintendo Co. reports that its net profit tumbled 60.6 percent in the April-June quarter from last year, hurt by a stronger yen and fewer blockbuster games.
ONGC net dips 27 percent in first quarterJuly 23rd, 2009 MUMBAI - The net profit of state-run energy major Oil and Natural Gas Corp (ONGC) dipped for the fourth consecutive quarter, declining 27 percent to Rs.4,847.92 crore (about Rs.48.48 billion) for the quarter ending June 30 owing to lower oil prices. ONGC had logged a revenue of Rs.6,636.33 crore (Rs.66.37 billion) in the corresponding quarter the previous fiscal.
Budget deficit sets May record of $189.7 billion; total for year close to $1 trillionJune 10th, 2009 Budget deficit hits record for May of $189.7BWASHINGTON — The federal budget deficit soared to a record for May of $189.7 billion, pushing the tide of red ink close to $1 trillion with four months left in the budget year. The rising deficit reflects increased government spending due to the recession, and billions of dollars spent on bailouts for banks and other troubled companies.
Treasury plans to auction 30-year bonds on a monthly basis to deal with record debt levelsApril 29th, 2009 Treasury again increases auctions of 30-year bondsWASHINGTON — The Treasury Department said Wednesday it will boost the number of times it auctions 30-year bonds to 12 times a year in another move to cope with the government's soaring debt. The monthly auctions of 30-year bonds follows Treasury's decision just three months ago to double the frequency of the auctions from four times annually to eight.
How the Dow Jones industrials have fared each trading day since fall of Lehman BrothersApril 21st, 2009 The Dow Jones industrials' moves since Lehman fallHow far the Dow Jones industrial average has fallen or advanced each trading day since Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept.
Steel Authority's net down 56 percentJanuary 26th, 2009 MUMBAI - State-owned steel manufacturer, Steel Authority of India (SAIL), Tuesday announced its net profits had declined in the third quarter by 56.4 percent to Rs.8.43 billion (Rs.843.34 crore) from Rs.19.35 billion (Rs.1,934.66 crore) in the year-ago period. The company's net sales were down 7.14 percent to Rs.88.52 billion (Rs.8,852.26 crore) for the period under review, against Rs.95.33 billion (Rs.9,533.3 crore) in the corresponding previous quarter.
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