Economy News

Indian Oil will spend Rs. 20,000 crore for its Gujarat refinery expansion

The company plans to expand its Gujarat refinery's capacity to 18 million tonnes per annum (MTPA) from the present 13.7 MTPA.

Apr 7, 2016

India revamps crude oil import policy

The new policy would allow state-run oil refiners to plan their own policies to buy cheaper oil cargoes and improve profitability.

Apr 6, 2016

India's coal import bill down Rs. 28,000 crore in FY16

The government has planned to double the coal output to one billion tonnes by 2019-2020.

Apr 6, 2016

India's services PMI at 21-month high in March

Both manufacturing and services output have remained conveniently expansionary the past month, according to the Nikkei India Composite PMI Output Index.

Apr 6, 2016

India's steel imports up 18% in March, snap 4 months of decline

Imports are, however, likely to decline again in April and May.

Apr 6, 2016

Deposit rates, not repo rate, to decide bankers' further course of action

With deposit growth at the lowest since 1963, bankers would find it really difficult to cut lending rates.

Apr 6, 2016

Israel India diamond trade Modi visit to Israel

Israel looks forward to PM Narendra Modi's visit, says visiting Israeli minister

Israeli Agriculture Minister Uri Ariel spoke about Indian Prime Minister Narendra Modi's likely visit during his media interaction Tuesday.

Apr 6, 2016

Andhra Pradesh eyes investments in tourism worth Rs. 20,000 crore

The state has taken up multiple initiatives and aims to become the most preferred tourist destination in the country.

Apr 6, 2016

Pfizer raises bid for AstraZeneca to $117 billion

Obama's inversion push ends $160 billion Pfizer-Allergan merger

Deal would have seen Pfizer redomicile to Ireland to save paying huge corporate tax to the US

Apr 6, 2016

India serves steel products anti-dumping notice on China, others: Reuters source

The notices have been issued for hot-rolled coils of alloy and non-alloy steel, a source told Reuters.

Apr 6, 2016

IMF chief amps up call to boost global growth as risks increase

International Monetary Fund Managing Director Christine Lagarde turned up the volume on her calls for stronger action by the worlds economies to boost growth, warning that downside risks were increasing without decisive action. In a speech at Frankfurts Goethe University on 5 April, Lagarde prescribed specific moves, including for the United States to raise its minimum wage, for Europe to improve job training and for emerging economies to cut fuel subsidies and boost social spending. She said recovery from the 2007-2009 global financial crisis remains too slow, too fragile and risks to its durability are increasing.

Apr 5, 2016