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<br>May exports fell 20%, for 6th month in a row</br> <br> Exports declined a steep 20.19% in May to $22.35 billion, sixth month of contraction, owing to a softening of crude oil, metal and other commodity prices besides weak demand. Reflecting the underlying weakness in the domestic manufacturing sector and tepid domestic demand, imports shrank 16.52% in May, a 15-month low (the lowest since 17% contraction in February 2013). (Fe Bureau) (Image: Reuters) (17/06/2015)</br>
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<br>News Corp ups stake in PropTiger to 30%</br> <br> Diversified media and information services company News Corp has raised its stake by 5% in the Singapore-based Elara Technologies, parent company of online real estate services portal PropTiger.com. Terms of the transaction, which increased News Corp’s stake in Elara to about 30%, were not disclosed. News Corp had first acquired a 25% stake in Elara in November 2014 for about $30 million. PropTiger has since acquired digital design start-up Out of Box Interaction and property search portal Makaan.com to its portfolio. (PTI) (Image: Reuters) (17/06/2015)</br>
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<br>Govt plans selling 3% stake in BPCL in FY16</br> <br> The government plans to sell 3% stake in Bharat Petroleum, the nation’s second-largest state oil firm, this fiscal to raise around Rs 1,800 crore. The finance ministry has moved a Cabinet note for inter-ministerial consultations for selling 2.16 crore shares in BPCL through a public offer, official sources said. At itscurrent trading price of R820, the stake sale will fetch the government over R1,778 crore. The government holds 54.93% stake in BPCL. (PTI) (Image: Reuters) (17/06/2015)</br>
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<br>Vodafone India units raise Rs 7,500 crore </br> <br> Vodafone Group’s three Indian units raised a combined Rs 7,500 crore ($1.2 billion) in a first rupee bond sale. Vodafone raised debt that matures in five years and a month, with a coupon of 10.25%. Bharti Airtel too raised $1 billion this month. The fund-raising comes as Reliance Jio prepares to roll out a $16-billion 4G voice and data services network by December in a disruption that is expected to curb tariffs, intensify competition and erode margins for incumbents. (Bloomberg) (Image: Reuters) (17/06/2015)</br>
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<br>Indian rupee slips 10 paise to end at 21-month low</br> <br> Declining for the fourth straight day, the Indian rupee slipped by 10 paise to close at a 21-month low of 64.26 on sustained dollar demand from banks and importers amid foreign capital outflows. The Indian rupee opened higher at 64.05 from its previous close of 64.16 on initial selling of dollars by banks and exporters. However, it dropped afterwards to 64.30 before ending at a 21-month low of 64.26. The rupee had last ended at 65.24 on September 6, 2013, and has dropped 42 paise or 0.66% in last four days.(PTI) (Image: Reuters) (17/06/2015)</br>
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<br>KM Mani submits states’ views on GST to panel</br> <br> Chairman of the empowered committee of state FMs KM Mani submitted states’ suggestions on the Constitution (122nd Amendment) Bill on the proposed GST to a select panel of the Rajya Sabha reviewing it, reports fe Bureau in New Delhi. Sources said Mani has communicated states’ demands for full compensation for five years of any revenue loss due to the GST roll-out and for extra taxation rights over and above the applicable GST on tobacco to the 21-member select panel.(Fe Bureau) (Image: PTI) (17/06/2015)</br>
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Gold regained its sheen to trade Rs 195 higher at Rs 27,125 per ten gram at the bullion market today, taking positive cues from overseas market. (Reuters)
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<br>Lalit Modi: Arun Jaitley defends Sushma Swaraj</br> <br> Finance minister Arun Jaitley on Tuesday came out in strong defence of external affairs minister Sushma Swaraj in Modigate. He said she acted ‘bona fide’ and with ‘good intentions’ and the government and party were one on the issue. (PTI) (Image: PTI) (17/06/2015)</br>
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<br>ADB to raise India lending by 50%</br> <br> ADB plans to increase lending to India by almost 50% to $12 billion by 2018, ADB president Takehiko Nakao said. “ADB aims at increasing its sovereign and non-sovereign lending to $10-12 billion between 2016 and 2018 using ADB’s expanded lending capacity,” he said.(PTI) (Image: Reuters) (17/06/2015)</br>
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<br>RuPay mulls credit cards from 2017</br> <br> RuPay would roll out RuPay Credit cards from next year. “… expected to give Visa and MasterCard a tough competition, since the debit card issued by RuPay by banks in India has revealed that there is a huge potential for cards penetration and transaction,” NCPI chief M Balachandran said. (PTI) (Image: Reuters) (17/06/2015)</br>
Dmart is dead. Long live Dmart.
