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Sensex takes 74-point hit

MUMBAI: After plunging to its three-month low in early trade, the benchmark Sensex of BSE on Friday regained three-fourths of losses but still ended lower by 74 points.

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Dollar to be major part of FX reserves: RBI

KOCHI: The US dollar will remain a major component of India’s foreign exchange reserves as most of the country’s overseas trade is denominated that currency, a Reserve Bank of India (RBI) deputy governor said
on Friday.

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RBI Governor sees no liquidity crunch due to 3G auction

THIRUVANANTHAPURAM: The Reserve Bank on Thursday sought to allay fears of a possible liquidity crunch arising from credit outgo to telecom companies which have bid for 3G spectrum for a mammoth over Rs 67,000 crore.

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Most telecom stocks end higher a day after 3G auction

NEW DELHI/ MUMBAI: Stock markets on Thursday reacted positively to telecom companies winning precious airwaves for third generation (3G) phone services, with most of their scrips trading in the green a day after the conclusion of auctions.

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Govt plans to launch NELP-IX

MUMBAI: The Union government is planning to launch the ninth round of the New Exploration Licensing Policy (Nelp-IX) by September-November this year to auction up to 45 oil and gas blocks, a top official from  Directorate General of Hydrocarbons (DGH), said.

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India’s ER&D services market to touch $40-45 bn by 2020

BANGALORE: Indian Engineering Research and Development (ER&D) services market is expected to touch $40-45 billion by 2020 with exports revenues of about $35-40 billion and domestic revenues at $4 to 6 billion, National Association of Software and Service Companies (NASSCOM) president, Mr Som Mittal said on Thursday.

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US, EU clash over trade sanctions at WTO

GENEVA: The United States and European Union clashed on Thursday over retaliation that the EU is seeking for illegal US duties, with the two trading giants disputing the fundamentals of trade law and details of the case.

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3G telephony promises instant services

NEW DELHI: YouTube experience on your mobile phone, video chats, internet TV, streaming music and near-instant data transfers -- these are some of the numerous applications Indian consumers can look forward to with third generation (3G) telecom services.

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