Briefly Business: Rupee hits two-month low at 54.75/$

Rupee hits two-month low at 54.75/$

New Delhi: Tracking weak stock markets for the second straight day, the rupee on Friday plunged by 39 paise to close at a two-month low of 54.75 to a dollar dragged down by demand from importers.

PFC to set up $1 bn equity fund with Tata

New Delhi: Power Finance Corp along with Tata Capital will set up a $1 billion private equity fund, that would mainly focus on financing for domestic power projects. PFC would have 49 per cent in the fund and the rest would be owned by Tata Capital.

Honda to launch first diesel car next fiscal

New Delhi: Honda on Friday said it will launch its first diesel vehicle, an entry-level sedan 'Amaze'in India next fiscal.

Not ready for Basel III rules: US Treasury

WASHINGTON: The US Treasury announced on Friday that it would not implement the Basel III rules for strengthening banks on January 1, saying the banks were not yet ready to meet the tougher capital standards.

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