Sreeja VN

The Indian rupee rebounded on Tuesday after Reserve Bank of India's (RBI) intervention and profit booking by foreign banks, and gained 20 paise.

The latest crisis in Air India, India's state-owned airliner, began a week ago when striking pilots suddenly reported sick in huge numbers. The crisis has entered its eighth day Tuesday with the carrier cancelling 24 more flights even as no indication of a solution is seen on the horizon.

Bombay Stock Exchange's Sensex lost more than 100 points Monday afternoon trade as the slump in European markets and a worse-than-expected inflation for April hit the markets hard.

Tibetan spiritual leader Dalai Lama has alleged that Chinese agents are plotting to kill him with the help of Tibetan women.

Tens of thousands of Spaniards protesting against the economic crisis and the austerity measures marched on the streets of different cities in the country Saturday to mark the first anniversary of the Indignados movement that ignited similar protests worldwide.

The United States has approached the World Trade Organization (WTO) against India's import restrictions on US agricultural products.

German sportswear company Adidas has filed a criminal complaint with the Indian law enforcing authorities seeking a probe into the alleged financial irregularities in its Indian arm Reebok India.

The top after-market NASDAQ gainers Friday were The Hackett Group, Inc., Brocade Communications Systems, Inc., Multimedia Games Holding Company, Inc., Leap Wireless International, Inc. and XOMA Corporation. The top after-market NASDAQ losers were: American Capital Mortgage Investment Corp, Brightpoint Inc., magicJack VocalTec Ltd., Energy XXI (Bermuda) Limited (EXXI) and JetBlue Airways Corporation.

Despite RBI's desperate efforts to prop it up, rupee declined by 18 paise to reach 53.60 against dollar in the late morning trade on Friday. However, rupee stabilized in the later sessions at 53.54/55 before closing at 53.45 and India's industrial production surprisingly declined by 3.5 percent in March, for the first time in five months, prompting the industry to seek cut in interest rates.

The top after-market NASDAQ gainers Thursday were: Arena Pharmaceuticals, Inc., Brooks Automation, Inc., Orexigen Therapeutics, Inc., Mindspeed Technologies, Inc. and Leap Wireless International, Inc. The top after-market NASDAQ losers were: Amtech Systems, Inc., American Public Education, Inc., Codexis, Inc., Nuance Communications, Inc. and SciClone Pharmaceuticals, Inc.

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.

The top after-market NASDAQ gainers Tuesday were: Vitesse Semiconductor Corporation, Himax Technologies Inc, Blue Nile Inc and DealerTrack Holdings Inc. The top after-market NASDAQ losers were: STEC Inc, Gulfport Energy Corporation and Seattle Genetics Inc.

India Tuesday conveyed to the US that it has to look at the Western sanctions on Iran beyond the issue of energy, as it has critical stakes in the region.

The top after-market NASDAQ gainers Monday were: Telestone Technologies Corp., MCG Capital Corporation, Move, Inc., Zipcar, Inc. and Jamba, Inc.

In an interim relief to the foreign investors, Indian Finance Minister Pranab Mukherjee Monday said that the government would delay the implementation of the General Anti-Avoidance Rules (GAAR) by one year.

US Secretary of State Hillary Clinton Monday pitched for the opening up of the Indian retail market for foreign direct investment (FDI) and asked the government to do more on Iran oil cuts.

Secretary of State Hillary Rodham Clinton Saturday asked Bangladesh to exploit its strategic geo-location and said that its location between India and China, the two aggressively developing economies, gave it tremendous opportunity for development.

Polling began in Greece Sunday in an early general election that could push the debt struck country to further turmoil and uncertainty.

The sharp decline in the Indian rupee coupled with strong demand for the dollar forced the Reserve Bank of India (RBI) to intervene and announce measures to ease the pressure on of the rupee.

Indian Rupee dropped to four-months-low of 53.83 at midsession before closing at 53.41/42 against dollar on Thursday, despite Reserve Bank of India's's suspected interventions. Rupee has been continuing its steady fall and the analytics are expecting the Indian currency to touch an all time low of 55.00 per dollar within a short period.

The top after-market NASDAQ gainers Thursday were: Einstein Noah Restaurant Group, Spreadtrum Communications, Sierra Wireless, PowerSecure International and Seanergy Maritime Holdings Corp. The top after-market NASDAQ losers were: Body Central Corp., Anika Therapeutics, QLogic Corporation, Caribou Coffee Company and Pacific Biosciences of California.

The lack of bureaucratic support as well as aggressive regulation and tax policies are scaring away foreign investors from India, the chairman of Honeywell International has said, the Wall Street Journal (WSJ) reported.

In a major victory for the US-EU led sanctions on Iran, the Indian government has asked top two importers of Iranian crude to cut their imports by at least 15 percent this year, the Wall Street Journal WSJ reported, quoting industry sources.

Indian State run insurance companies will indemnify local ships carrying Iranian oil, enabling the country import oil from Iran, Reuters reported quoting Shipping Corp of India director.

South Korea's inflation declined to a 21-month low as the exports declined for the second consecutive month in April.

Japan and India on Monday decided to launch two separate dialogues in maritime and cyber security domains and also to resume negotiations on civil nuclear cooperation.

Adidas increased its 2012 financial outlook based on better-than- expected sales from Asian markets, the group said in a press statement Monday announcing its first quarter reports.

India and Japan on Monday hold their first strategic economic dialogue on strengthening mutual ties at New Delhi, Indian government said.

A senior US diplomat arrived in Beijing Sunday ahead of schedule as the reports of US protection to escaped Chinese activist Chen Guangcheng triggered tension between both the countries.