currency

In a first-of- its-kind step, Brazil, Russia, India, China and South Africa (BRICS) will be signing an agreement on Thursday under which they would be able to give credit and grants to each other in their own currency instead of dollars. The Summit, to be attended by Prime Minister Manmohan Singh in Chinese resort city of Sanya, will discuss a whole range of issues related to global financial and economic situation besides matters related to energy security, food securit.. Full Article

India would intervene in the foreign exchange markets if needed to maintain stability, the central bank's governor said during a panel discussion at the International Monetary Fund in Washington on Saturday. Full Article

Nutritionist Dr Sarita Davare, recently caught in the tax net (the income tax department recovered Rs 7.5 crore from her), is the city's best kept secret. We spent the best part of the day trying to get a picture of the lady, but failed. However, the recent IT raid on her brings the spotlight on big bucks that the fitness industry rides on. Full Article

The Ministry of Commerce & Industry has issued an Instruction No. 41 - F.No.C.6/9/2009-SEZ- Dated November, 2009 to all Development Commissioners clarifying that Net Foreign Exchange Earning (NFE) for SEZ units is to be calculated in rupee terms only.In case a unit claims that the NFE is negative due to foreign exchange fluctuations, the Approval Committee may consider the same, on case to case basis, provided the NFE computations are certified by the Authorised Banker.. Full Article

Gold is now coming to an end for coming into the grasp of retail Indians during marriage or festive season. As we all know that gold is floating at 17000 levels is very hard bet for buying at these levels. In the coming days we will find gold rising more high and one might find gold around 22000 in the next 5 years even being conservative. Full Article