Leading infrastructure major, Larsen & Toubro Thursday said it has bagged orders worth $116.2 million (Rs.581 crore) from an infrastructure company and another from a Bangalore utility firm. In a regulatory filing, the company said the orders from the two firms namely Bangalore Water Supply and Sewerage Board (BWSSB) and Powergen Infrastructure will be executed [...]

Oil steadied above $79 a barrel on Thursday, poised for the biggest annual climb in a decade, a year after posting huge falls as the global economic crisis sapped demand. Oil was supported by data from the U.S. Energy Information Administration (EIA) that showed declines in crude oil stockpiles last week, boosting expectations of demand [...]

Indian stock markets ended calendar year 2009 in style and on a promising note after the benchmarks scaled 20-month peaks on a December It’s been a liquidity driven rally for global markets on the back of economic recovery and decline in the US dollar. Back home, sentiments have been bullish on expectations of 6.7 per [...]

Gold futures were slightly higher on Thursday tracking international cues, but a strong dollar may weigh on prices during the day, The benchmark February gold on the MCX was at 16,687 rupees per 10 grams, up 0.21 percent. “This has been another good year for gold investors…despite some losing interest in the yellow metal..it will [...]

The share of global foreign exchange reserves held in US dollars declined in the third swelled to a record $7.5 trillion, International Monetary Fund data showed on Wednesday. The IMF data showed the dollar’s share of the roughly $4.4 trillion of world reserves of which the composition is known fell to 61.6 percent between July [...]

Government bonds rose on Wednesday, recovering from the previous session’s sell-off, after value buying emerged in select papers in a Forex Converter Convert Rs.To week where there are no fresh supplies. The 6.35% 2020 benchmark bond yield fell 3 basis points to 7.59%. Concerns of an early tightening resurfaced on Tuesday after comments from RBI [...]

Rupee extended its gains in afternoon trade on Thursday boosted by the dollar’s further drop against major currencies and stronger Forex Converter Convert Rs.To domestic shares. the partially convertible rupee was at 46.63/64 per dollar, stronger than 46.73/74 at close on Wednesday. However, dealers said month-end demand for dollars was preventing further sharp gains. Oil [...]

US stocks ended a smidgen higher in very light trading on Wednesday as a stronger-than-expected report on Midwest US business activity was offset by investors taking profits in some of the year’s better performers. Still, the Dow and the Nasdaq eked out fresh highs for the year. The Standard & Poor’s benchmark index is up [...]

The dollar hovered near 16-week highs against the yen on Thursday while encouraging U.S. economic data helped lifted Asian stocks, which are poised to post a near 70 percent rally for the year. The dollar was trading at 92.39 yen, after hitting a 16-week high at around 92.77 in New York trade, as the yen [...]

Trounced in last year’s financial crisis, Asian stocks helped lead 2009′s global rally as unprecedented government stimulus measures and economic recovery sent investors back to the region’s markets en masse. Many of Asia’s markets suffered greater losses compared to the West during the sell-off of 2008 only to see bigger gains on the way back [...]