Economy News

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

IT jobs: India's loss is America's gain; layoffs here, stepped-up hiring in US

Indian employees of Wipro, Infosys and Tech Mahindra may be a worried lot, but some of these IT companies are planning to hire American workers in a big way.

May 11, 2017

India rejects Boston Scientific plea on stent price caps

The Modi government in February slashed prices of drug-releasing stents, small mesh devices used to pop open blocked arteries, by as much as 75 percent.

May 10, 2017

Car sales surge 17% in April, commercial vehicle segment sluggish

Data released by industry body Siam shows overall vehicle sales grew 6.82 percent for April, led by car sales and 7.34 percent for two wheelers.

May 9, 2017

India poised to grow at 7.2% in 2017-18: IMF

On the flip side, India's current account deficit is likely to widen as domestic demand strengthens further and commodity prices rebound.

May 9, 2017

Does US tax plan have implications for India?

Brokerage Angel Broking analyses the impact of changes in tax rates proposed by US president Donald Trump.

May 9, 2017

How will GST impact the Indian real estate sector?

The Goods and Services Tax (GST) is expected to be rolled out from July 1 this year.

May 9, 2017

India is a huge market for anyone to ignore: Warren Buffet

In an interview to an Indian business channel, Warren Buffett, billionaire and CEO of Berkshire Hathaway said the country offers good investment opportunities.

May 8, 2017