Business

Sensex crashed over 500 points to 16,533 as the Indian rupee slumped below 49 per dollar.

For all developing Asia, the IMF lowered its forecasts to 8.2 percent growth in 2011 and 8.0 percent growth in 2012.

The Reserve Bank of India has raised interest rates 11 times in the last 18 months.

Market showed spectacular upmove in the final hour of trade after consolidating for most part of the day.

Sensex firmed further by 202.19 points on Wednesday to 17,065 points, highest close since August 11.

Japan's Nikkei 225 index opened 1.3 per cent higher on Thursday at 8,756.

International spot gold soared to an all-time high above $ 1,910 on Tuesday.

This week the dollar has traded in a narrow range just above its historical record low of 76.25 Yen.

State-run Coal India said it was in talks for one acquisition each in Indonesia, Australia and the United States.

RIL says this will result in the largest foreign investment in the domestic hydrocarbon sector.

Gold rallied more than 3 per cent on Monday, exceeding $1,700 an ounce.

Such concentration of economic power in the hands of a few is not desirable in the larger interests of the society.

Sharma was named President of S&P's in 2007 and also chairs the board of S&P's Indian subsidiary Crisil.

The warning comes just two days after the credit rating agency lowered US's rating from AAA to AA+.

The US lost its top-notch AAA credit rating from Standard & Poor's on Friday.

The mayhem in global markets sent the Indian market crashing before a late recovery.