Business

The Reserve Bank of India (RBI) in its April-June quarter monetary policy on Tuesday left the key policy rates unchanged.

The hotel is jointly owned by Elad Properties, an Israeli-owned real estate company, and Saudi-based Kingdom Holdings Co.

The industry and service sector median growth forecasts have turned low, but are expected to pick-up beginning Q2 of 2012-13.

Earlier this month, the PM had set-up a panel to bring 'greater clarity' and prepare a roadmap for GAAR by September 30 for its implementation.

The shutdown at the Manesar plant threatens a replay of a dismal 2011 when labour unrest battered the company's sales.

Economies around the world have never been so tightly linked, which means as one region weakens, others do too.

The airfares this year have risen by more than 50 pc. The DGCA, however, says the rates are unlikely to fall anytime soon.

The International Monetary Fund has lowered India's growth forecast by 0.7 percentage points to 6.1 per cent for 2012.

Air fares have shot up in the past fortnight mainly on account of crisis in Kingfisher Airlines.

A schedule has been laid for the committee which includes receiving comments from stakeholders and general public till July-end.

Chief Economic Adviser Kaushik Basu had also advocated the idea of diesel prices going on a float like petrol.

Reports on Thursday claimed that banks led by the SBI had decided to sell non-core assets of Kingfisher, including Vijay Mallya's Goa villa.

The industry is pitching for cut in lending rates, saying high interest rate regime has slowed down the growth.

Kaushik said from the mid of October,for the 1st time, inflation would go below 7 per cent.

At 9.02 am, the rupee was at 55.40/45 to a dollar, as against Monday's close of 55.43/44.

Boxes kept inside the premises of Swiss banks are also said to be being used to stash gold, diamond, paintings and art works among other valuables.