OMAHA: Billionaire Warren Buffett says the economy has “fallen off a cliff” over the past six months and consumers have changed their habits in remarkable ways. Buffett said on Monday during a live appearance on a news channel that current economic turmoil has basically follow…

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The global financial crisis has taken its toll on the Indian economy and the equity markets. Foreign institutional investors (FIIs) have sold in the Indian markets — during the previous 15 consecutive trading sessions, FIIs remained net sellers, and sold to the tune of of Rs 5,238 crore…

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MUMBAI: Asia ex-Japan Equity Funds saw the biggest outflows in dollar terms–a 20-week high of $1.09 billion during the week ending March 4, as per data by Emerging markets Portfolio Funds Research (EPFR). Globally, investors withdrew $12.9 billion from equity and bond funds and moved it…

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AHMEDABAD: Gas Authority of India Ltd has acquired nine per cent equity stake in a petrochemical plant project of ONGC Petro additions Ltd, coming up at Dahej in Gujarat, an official of ONGC said on Saturday. …

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EW YORK (Reuters) – Shares of Citigroup (NYSE:C – News), once the world’s most valuable bank, tumbled below $1 on Thursday, taking its year-to-date drop to 85 percent. Citigroup, a Dow component, fell more than 13 percent to an intraday low of $0.98 …

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Global IT giant IBM is understood to be the front-runner to acquire Satyam Computer Solutions, a company it named as one of its main competitors in a filing to the New York Stock Exchange in February.The US major, said sources close to the developments, has begun discussions with Satyam&#…

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MUMBAI: The Reserve Bank of India (RBI) has reduced its key policy rate – the repo rate- the rate at which the central bank lends to banks against pledeging of government bonds- by 50 basis points (bps) from 5.5% to 5%. …

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MUMBAI: Beaten down by the global economic crisis, the export oriented tiger economies of Asia have stopped roaring. From Japan, to South Korea, Taiwan, China, India and beyond, the global economic crisis wreaked havoc. …

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US markets retreated on Tuesday’s close, as Federal Reserve Chairman Ben Bernanke said that economic prospects remained uncertain. He also said that more action would be necessary to jolt the economy out of the financial crisis. The S&P ended a few points below the 700 mark for the…

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MUMBAI: The rupee dropped to a record low beyond 52 per dollar on Tuesday, undermined by a slump in the stock market to its lowest close in more than three years as investors became more risk averse. Dealers said sporadic dollar selling by the central bank via state-run banks stemmed the …

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