Economy News

IT Layoffs: Employees' union asks Karnataka IT minister to intervene

"The Karnataka state government should soon convene a meeting with IT firms to stop such illegal layoffs," ITEU president AC Kumara Swamy said.

Jun 24, 2017

Govt red-flags $13-bn oil deal between Essar and Rosneft

Deal expected to result in substantial debt reduction for the Essar Group, and help the Kremlin-controlled giant increase oil refining output by 20 per cent.

Jun 24, 2017

Vijaya, Dena mulled as possible acquisition targets for Canara Bank

Govt likely to push proposal forward after monsoon session of Parliament is over in August.

Jun 24, 2017

GST: Third round of registration opens on June 25; call centres to go live the same day

The first and second rounds for registration under the GST were during November 2016-April 2017 and early in June; call centres also go live from Sunday.

Jun 24, 2017

Gear change: Face IT industry headwinds with the right skillsets

Tech services companies which invested in digital services are likely to be the only ones showing revival in growth rates in future.

Jun 23, 2017

Narendra Modi's GST is a 'wasted opportunity': Economist

In its latest issue, The Economist mocked the Modi government's Goods and Services Tax (GST) reform, referring to its cumbersome compliance norms.

Jun 23, 2017

Thiruvananthapuram tops list of 30 new smart cities, Amaravathi in 4th position, Bengaluru finishes 14th

Sonia Gandhi's constituency Rae Bareli absent from new roster, but will be in the fray next time around.

Jun 23, 2017

Indians bought gold worth $300 billion in 10 years

Total gold consumption between 2007-08 and 2016-17 at $300 billion was far greater than foreign portfolio investments of $124 billion, says Kotak Equities.

Jun 22, 2017

India's IT exports to grow at lower clip in FY18, shows Nasscom forecast

Nasscom president R. Chandrasekhar says Indian IT exports will grow by 7-8 percent, while domestic business will expand by 10-11 percent, creating 1.5 lakh new jobs.

Jun 22, 2017

Ad hawk's wings clipped: Realty firms must clear projects with RERA before promoting them

The move is set to hit the advertising budgets of an already subdued real estate market in a big way.

Jun 22, 2017

Banks, post offices, cooperative bank get one month to deposit demonetised notes

The finance ministry says that post offices, commercial banks and cooperative banks can deposit the old notes with the Reserve Bank of India.

Jun 21, 2017

Logistics stocks spurt as GST rollout nears

Snowman Logistics, VRL Logistics, Gati, Allcargo Logistics gained sharply on Tuesday; GST will be rolled out from June 30 midnight-July 1, as confirmed by FM Arun Jaitley.

Jun 20, 2017

Start loving GST from July 1, no excuses: Arun Jaitley

Rules out further delays in timeline for GST launch. Nobody has any business not to be ready, Finance Minister says.

Jun 20, 2017

Karnataka sees slowdown in IT hiring amid reports of layoffs

Priyank Kharge, Karnataka's IT minister, said that hiring by IT companies stood at 52,500 in 2016-17, down from 61,500 two years ago.

Jun 20, 2017

With more currency and no digital shift, demonetisation is a failure

Demonetisation via strategic devaluation of selected currency denominations rolled out last November has not resulted in a quantum shift to digital mode.

Jun 20, 2017