Bank Staff Begin 2-Day Strike Against Reforms

Bank staff begin 2-day
Bank employees in India began a two-day strike on Wednesday to protest against proposed reforms that would ease mergers and allow more private capital, including foreign investment, in the banking sector.
A lone Kingfisher Airlines customer waits in a check-in queue at Mumbai's domestic airport

India's Kingfisher Airlines Reports 147% Increase In Losses

India's struggling private air carrier Kingfisher Airlines Saturday reported a 147 percent increase in its loss to 6.51 billion rupees for the quarter ending June 30, compared with a loss of 2.64 billion in the same period a year ago.
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Asian Markets

EU Summit Proposals Lift Asian Stock Markets

Asian stock markets rallied Friday as sentiment was buoyed after leaders at the European Union summit in Brussels agreed on important plans to tackle the region's debt crisis.
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Fitch Revises Outlook On Indian Financial Institutions To Negative From Stable

Fitch Ratings Wednesday revised its outlook on 11 India-based financial institutions to negative from stable while affirming the rating. Fitch revised the outlook on the Indian Railway Finance Corporation Limited's (IRFC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to negative from stable and affirmed the ratings at 'BBB-'.
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Indian Shares Close Down, Gold Hits Four Month Low, Eurozone Crisis Weighs

Bombay Stock Exchange (BSE) sensex closed at a four month low by shedding nearly 67 points on Wednesday as weak global trends triggered heavy fund outflows.The BSE bench mark 30 share index lost 66.60 points to reach 16,479.59, dragged down by sharp declines in Reliance industry and banking stocks. Reliance Industries dropped for the sixth day by losing 1.91 per cent to Rs 695.10 after it cut the estimates for actual natural gas reserves available in its Indian blocks.
BSE Sensex

BSE Sensex Falls for Second Day

The BSE Sensex fell for a second consecutive day on Thursday as investors took profits on expiry of monthly derivatives amid concerns about high oil prices.
State Bank of India

SBI Q3 Beats Forecast, but Bad Loans Rise

The State Bank of India (SBI), the country's biggest lender, reported an unexpected rise in bad loans for the third quarter, taking the shine off healthy growth in loan demand and interest income that helped it post a 15 percent rise in net profit.


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