New Delhi: India's industrial output grew by 2.5 percent in March, as against a contraction of 2.8 percent in the corresponding month of 2012, government data showed Friday.

According to data from the Central Statistical Office (CSO), the index of industrial production (IIP) logged a meagre 0.6 percent growth year-on-0year in February. IIP grew by 2.4 percent in January.

On a consolidated basis, IIP grew by just one percent in the April-March period of 2012-13, from a growth of 2.9 percent in the corresponding period of 2011-12.

The monthly growth in IIP came on the back of healthy...

Mumbai: The Bombay Stock Exchange (BSE) benchmark index for the Indian equities markets on Friday was trading up in the morning session.

The 30-scrip sensitive index (Sensex) of the BSE which opened at 19,911.08 points was trading at 20,007.27 points, up by 68.23 points or 0.34 percent from previous closure at 10:33 am.

The 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) was...

Dubai: In a significant development, the Dubai Group has agreed on final terms to restructure US$6 billion of bank debt sending shares of the emirate’s biggest lender higher.

Banks “will need to formally agree the terms with their internal credit committees,” Dubai Group said in a statement.
However, the financial details of the agreement were still not known.

Media report say that...

Mumbai: A benchmark index of the Indian equities markets Thursday closed 0.26 percent down, breaking a three days of consecutive gains to close below the 20,000-level mark, as traders booked profits ahead of the crucial industrial production and inflation data expected soon.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) which crossed the psychological mark of 20,000...

New Delhi: Public sector Union Bank posted a 2.07 percent rise in net profit to Rs.789 crore for the last quarter (January-March) of the 2012-13 financial year from Rs.773 crore clocked during the corresponding period in 2011-12.

The net interest margin (NIM) for the fourth quarter of 2012-13 was at 2.89 percent compared to 3.16 percent during the fourth quarter of 2011-12.

For the whole...

London: House prices in Britain rose by 1.1 percent in April following two consecutive increases in the previous two months, according to the Halifax House Price Index report.

The report puts that the average house price in April stood at 166,094 pounds (about $257,200), the highest since 2010.

Prices in the three months from February to April were 1.3 percent higher than in the previous...

Beijing: China's consumer price index (CPI), a main gauge of inflation, grew 2.4 percent year on year in April, up from 2.1 percent in March, the National Bureau of Statistics (NBS) said on Thursday.

According to the report, the rise is largely in line with the market forecast of around 2.3 percent.

The NBS attributed the gain mainly to an unusual increase in vegetable prices during that...

Hyderabad: State Bank of Hyderabad (SBH) Wednesday said it is not considering merger with the State Bank of India (SBI) and that it will continue as an independent bank.

SBI chairman Pratip Chaudhuri had said on Monday that the issue of consolidation of SBI's associate banks may be taken up for consideration after July.

SBH managing director M. Bhagavantha Rao told reporters here that it...

Mumbai: A benchmark index of the Indian equities markets Wednesday crossed the 20,000-level-mark for the first time in more than three months gaining 119.23 points as fast moving consumer goods (FMCG) and bank stocks rallied.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 19,950.22 points, touched 20,008.18 points about an hour before...

Kolkata: Public sector Allahabad Bank on Tuesday reported a 68.47 percent dip in net profit for the quarter ended March 31, 2013, to Rs.126.15 crore from Rs.400.22 crore in the corresponding year-ago period.

The Kolkata-headquartered bank attributed the sharp drop in profit to fresh addition of non-performing assets(NPA), higher provisioning and decline in yield on advances, its chairperson...