Economy News

British unemployment rate at 42-year low

The number of jobless people, who are not in work but seeking and available to work, fell by 53,000 to 1.54 million in the first quarter this year.

May 18, 2017

Market rally expected to be more fundamental and decisive from here on, analyses Angel Broking

The rally in the NSE Nifty started well before the elections and actually peaked out in March 2015 after Arun Jaitley announced his maiden budget.

May 17, 2017

Operation Clean Money website launched by Union Finance Ministry

The income tax department will update Operation Clean Money with details of raids conducted and rate tax defaulters.

May 16, 2017

Data analytics can benefit railways 'immensely', says Suresh Prabhu

Railway minister Suresh Prabhu was speaking at a conference on "Data Analytics for Indian Railways" in New Delhi on Tuesday.

May 16, 2017

US companies push hard for lower tax rate on offshore profits

Lobbyists are making an aggressive case that cutting the tax rate on offshore profits to 10 percent from 35 percent is not enough.

May 15, 2017

China's retail sales up 10.7% in April

Total retail sales of consumer goods stood at $395.4 billion, Xinhua news agency cited the National Bureau of Statistics (NBS) as saying.

May 15, 2017

India's GDP growth likely to come at 7.4% in 2017-18: FICCI survey

The survey was conducted amongst economists belonging to the industry, banking and financial services sector.

May 15, 2017

India reports higher trade deficit in April due to spike in gold, crude oil imports

In April, India's exports zoomed 20 percent while higher gold and crude oil purchases spiked imports by 49 percent; trade deficit ballooned to $13.24 billion.

May 15, 2017

Mutual funds preferred private banks over tech stocks in April

In April, mutual fund managers preferred private banks, automobile makers, PSUs over IT companies such as Tech Mahindra, Wipro, TCS, Infosys, HCL Tech and Lupin.

May 15, 2017

RBI asks banks to be cautious of Wannacry ransomware hitting ATMs: Report

WannaCry ransomware locked up critical data across the world, demanding bitcoins as ransom for its release, prompting RBI to act on bank ATMs.

May 15, 2017

IT Layoffs: Six lakh jobs at Wipro, Infosys, HCL Tech, TCS, HCL Tech, Accenture, Capgemini under threat: Head Hunters Chairman K Lakshmikanth

Speaking to International Business Times, India edition, Head Hunters CMD Kris Lakshmikanth says re-training of IT employees has its limitations.

May 14, 2017

India's forex reserves hit lifetime high of $375.7 billion; retail inflation falls to 2.99% for April

During the week ended May 5, India's foreign exchange reserves rose $2.98 billion to reach an all-time high of $375.71 billion, retail inflation for April came at 2.99 percent.

May 12, 2017

US Congresswoman Pramila Jayapal for thoughtful roll-out of H1-B visa changes

Pramila Jayapal (Democrat, Washington), is in India as part of a US Congressional delegation.

May 12, 2017

First working session of G7 finance summit begins

The summit is being attended by finance ministers and banking representatives of the world's seven most industrialised nations.

May 12, 2017

Modi govt had approved introduction of Rs. 2,000 note in June last year: Report

The decision to demonetise Rs. 500 and Rs. 1,000 notes and introduce a new denomination (Rs. 2,000) in November had its origins in mid-2016.

May 11, 2017