Shares on the leading ATX index of the Vienna Stock Exchange fell by 10.91 percent Friday afternoon after the market had been suspended until midday due to high volatility.

India's central bank, the Reserve Bank of India (RBI) announced Friday that the cash reserve ratio (CRR) will be reduced by 150 basis points (bps) to 7.50 percent of net demand and time liabilities (NDTL) instead of 50 bps announced Oct 6, 2008, to inject Rs.600 billion liquidity into the system.

Foreign funds were net sellers of Indian equity to the extent of $883 million during four days of trading for the week ended Friday, shows the latest data with the markets watchdog.

A sharp depreciation of the Indian rupee against the US greenback during the July-September quarter of the 2008-09 fiscal has made IT bellwether Infosys Technologies Ltd lose $28 million (Rs.1.25 billion) on hedging in the forex market.

The Rural Electrification Corporation (REC) will partly fund -- to the tune of Rs.56.12 billion -- two power projects in Tamil Nadu with a total capacity to generate 1,600 MW.

Weather permitting, Chandrayaan 1, India's first mission to the moon, will lift off from the Satish Dhawan Space Centre at Sriharikota in Andhra Pradesh Oct 22, Indian Space Research Organisation (ISRO) Chairman G. Madhavan Nair said Friday.

The domestic auto sector as a whole will be affected by the slowing down of the economy and stock market crash, but the two-wheeler segment may just beat the trend, say analysts.

Could the current global market meltdown, directly or indirectly, affect Bollywood's finances and the production of its hugely mounted movies? This is a question not many in the film industry are asking at present because they are confident the worldwide liquidity crunch will have no direct impact on them.

As fears over the impact of the global financial crisis on the Indian economy escalated Friday, a key Indian equities index closed with one of its steepest losses in recent months, with interventions by the government, the central bank and the markets watchdog having little impact to lift the battered sentiments.

The late night schedules of two major fashion events this month have been cut short thanks to Karva Chauth - when Hindu wives fast all day for the wellbeing of their husbands - falling right in the middle of the two big shows - the Wills Lifestyle India Fashion Week (WIFW) and the Delhi Fashion Week (DFW).

India's largest private sector lender ICICI Bank shares suffered heavy hammering on the bourses Friday due to its overseas exposure.

The Uttar Pradesh government has decided to allow people with basic reading and writing skills to enroll for industrial training programmes that are at present open only to those who have studied upto Class 10, an official said Friday.

Amidst a liquidity crunch and a slowdown in industrial growth, India's inflation moderated slightly to 11.8 percent for the week ended Sep 27, compared to 11.99 percent the week before.

Prime Minister Manmohan SIngh inaugurated the first phase of the Baglihar hydel project over the Chenab river in Jammu and Kashmir here Friday afternoon.

In a bid to calm nervous markets amidst growing global turmoil and improve domestic liquidity conditions, policy makers have taken a number of measures since Sep 16.