Business

Mumbai, Apr 19 (PTI) Equity indices tripped in the last half-an-hour of trade on Tuesday to notch up losses for the fifth consecutive session as finance and IT counters continued to bear the brunt of heavy selling amid negative global cues.

Russia ramping up its offensive in Ukraine, coupled with unabated foreign fund outflows, a depreciating rupee and inflationary concerns sapped investor confidence, traders said.

Hyderabad, Apr 19 (PTI) The Centre is following "regressive" agriculture policies and they are "dampening" farm sector growth in the country, Telangana Chief Minister K Chandrasekhar Rao alleged on Tuesday.

The Centre's improper policies would reduce output instead of giving a push to it, he claimed.

Rao made the comments during a meeting with state Agriculture Minister S Niranjan Reddy and officials on the preparedness for the coming rainy season crops, according to an official release.

Washington, Apr 19 (PTI) Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth.

During the meeting held on the sidelines of the ongoing annual spring meetings of the International Monetary Fund (IMF) and the World Bank, the IMF chief highlighted India's well-targeted policy mix that has helped the country's economy remain resilient even with a limited fiscal space.

New Delhi, Apr 19 (PTI) The country's largest lender State Bank of India (SBI) has raised its marginal cost of funds based lending rate (MCLR) by 10 basis points (bps) or 0.1 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers.

The lending rate revision by SBI is likely to be followed by other banks in the days to come.

Mumbai, Apr 19 (PTI) The rupee fell 22 paise to close at 76.51 (provisional) against the US dollar on Tuesday, tracking a strong American currency in the overseas market and significant foreign fund outflows.

At the interbank foreign exchange market, the rupee opened at 76.34 against the American currency and settled at 76.51, down 22 paise from the previous close.

19 April 2022; MEMO: Iran yesterday said a deal to revive the 2015 nuclear agreement with world powers was not in sight, adding that the US was to blame.

Iranian Foreign Ministry spokesman Saeed Khatibzadeh told reporters that "more than one issue is still pending between Iran and the United States."

He explained that messages coming from Washington "are far from providing solutions that could lead to an accord."

New Delhi, Apr 18 (PTI) Various auto-rickshaw, cab and taxi unions in the national capital went on a strike on Monday, demanding a CNG subsidy and a fare revision in the wake of rising fuel prices.

Delhi Auto Rickshaw Sangh General Secretary Rajendra Soni said they will also hold a protest outside Chief Minister Arvind Kejriwal's residence in Civil Lines later in the day to press their demands.

Mumbai, Apr 18 (PTI) The rupee declined 6 paise to close at 76.25 (provisional) against the US dollar on Monday, tracking the strength of the greenback overseas and elevated crude oil prices.

At the interbank foreign exchange market, the rupee opened lower at 76.41 against the American currency, and finally settled for the day at 76.25, down 6 paise over its previous close.

17 April 2022; MEMO: Libya halted oil production from its El Feel oilfield on Sunday and two sources at Zueitina oil port said exports there had been suspended after protesters calling for Tripoli-based Prime Minister Abdulhamid al-Dbeibah to resign took over the sites, Reuters reports.

17 April 2022; MEMO: A yacht linked to Russian aluminium tycoon Oleg Deripaska arrived in a bay near the southwestern Turkish resort of Gocek on Saturday, as more Russian billionaires head for Turkey to flee Western sanctions over Russia's invasion of Ukraine, Reuters reports.

Deripaska, founder of Russian aluminium giant Rusal RUAL.MM, has been sanctioned by the United States, European Union and Britain. He has previously called for peace.