Economy News

Bank of England warns of longest recession in 100 yrs; to last until mid-2024 [details]

The Bank of England has warned the UK risked being plunged into the longest recession in 100 years after it pushed up the cost of borrowing to 3 per cent in the biggest single interest rate rise since 1989.

Nov 4, 2022

Reserve Bank of India to launch digital rupee pilot project today

The Reserve Bank of India (RBI) will today launch the nation's first digital rupee pilot project for the wholesale segment.

Nov 1, 2022

Indian currency update: Rupee touches 82.72 against dollar before closing at 82.63

Indian rupee on Friday closed at 82.63 after touching a high of 82.72 against the US dollar.

Oct 28, 2022

CM announces launch of Invest Karnataka 2022 - Global Investors' Meet in B'luru

Global Investors Meet 2022: Karnataka gears up as Modi set to inaugurate

The Karnataka government is making all preparations to make 'Invest Karnataka 2022-Global Investors Meet' -- which is just 10 days away from now

Oct 21, 2022

Nirmala Sitharaman says Rupee is NOT sliding but Dollar is strengthening; Deserves Ph.D, says Congress

Taking a jibe at Nirmala Sitharaman over her statement that Indian currency is not sliding but the dollar is strengthening, the Congress said that the Finance Minister qualifies for a PhD in Economics.

Oct 17, 2022

World Bank lowers 2023 growth forecast from 3% to 1.9%, says dangerously close to recession

World Bank lowered 2023 growth forecast from 3 per cent to 1.9 per cent for the global growth

Oct 14, 2022

Economy of every country is slowing; India defies odds [see how]

According to IMF, India is to grow at 6.1% in 2023, making it the world's fastest among major economies. Read to know more.

Oct 12, 2022

British pound. (File: Xinhua/Then Chih Wey/IANS)

British Pound falls sharply after Bank of England gives bond-buying end date

The British pound has fallen sharply against the dollar after Bank of England Governer Andrew Bailey warned that it would not extend its emergency intervention in financial markets beyond this week, after the turmoil sparked by the governments mini-budget.

Oct 12, 2022

IDBI Bank Disinvestment: Govt invites bids for buyers

According to the conditions of the EoI, private sector banks, non-banking finance companies (NBFCs), foreign banks and even alternative investment funds registered by SEBI can bid for IDBI Bank.

Oct 8, 2022

Siddaramaiah slams Centre for permitting areca nut import from Bhutan

K'taka areca nut farmers in distress, Siddaramaiah slams Centre over imports from Bhutan

The areca nut growers are already in distress because of various diseases attacking the crop and areca trees. During this difficult hour, the central government has betrayed them, he said

Oct 7, 2022

Global regulator for banks red-flags crypto-assets such as Bitcoin

Cryptocurrency: 51% of daily Bitcoin volume changing hands on crypto exchanges is fake, says report

According to data provided by niche news publisher BanklessTimes.com, the majority of this fake Bitcoin volume is due to wash trading.

Oct 6, 2022

JPMorgan refuses to include India in widely-followed bond index; here's why

JPMorgan's decision to not include the bonds was due to investor concerns about India's market infrastructure, according to a person familiar with the matter.

Oct 6, 2022

RBI hikes repo rate by 50 basis points, pegs inflation at 6.7%; Economic growth at 7%

The RBI Governor Shaktikanta Das, heading the MPC, announced the hike to subdue the inflation.

Sep 30, 2022

Cabinet approves 'Dearness Allowance' hike by 4%

In a festival bonanza for lakhs of Central government employees and pensioners, the Union Cabinet on Wednesday gave it's clearance for release of additional installment of Dearness Allowance and Dearness Relief at 4 per cent.

Sep 28, 2022

Oct 1 deadline for compulsory e-invoice generation nears for firms with Rs 10 cr turnover

As of now, businesses with turnover of Rs 20 crore and more are required to generate e-invoices for all B2B transactions.

Sep 26, 2022

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