Economy News

50% import tariff on Harley-Davidson in India unacceptable, says Trump

In February 2018, India had slashed the customs duty on imported motorcycles like Harley-Davidson to 50 per cent after the US threatened to impose retaliatory taxes.

Jun 11, 2019

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TCS overtakes IBM in market capitalisation

As of Monday's closing, the market cap of TCS stood at Rs 8.36 lakh crore on NSE whereas IBM was stable at Rs 8.31 lakh crore.

Jun 11, 2019

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Govt plans to introduce 3-5% tax on cash withdrawal of Rs 10 lakh a year

In order to push digital transaction, the Reserve Bank of India has removed the transaction fee imposed on banks for using its NEFT/RTGS payment servers earlier this week.

Jun 11, 2019

China exports grow 1.1% despite US tariffs, but import slump most in 3 years

It was estimated that China will report a fall in exports by 3.8%, keeping in mind the slowdown in the economy by 2.7% in April.

Jun 10, 2019

Sri Lanka advertises in Russia to woo tourists after Easter Sunday bombings

The influx of tourism has declined by leaps and bounds. The figures have declined from an average of 4,500 tourists to 1,500 every day.

Jun 10, 2019

Yes Bank gets another blow; former MD and CEO Ajai Kumar quits board

The shares of YES Bank closed 2.89 per cent down at Rs 135.90.

Jun 10, 2019

A week for stock specific action while market searches for new direction

Indices are back on even keel after exit poll results triggered a choppy ride to hit record highs twice; market may remain rangebound as no new data expected.

Jun 9, 2019

IBM slashes 2,000 employees in US amid major restructuring plan

The growing trend of artificial intelligence (AI) and machine learning (ML) is resulting in massive job cuts. The boom of technological advancements is bringing more unemployment to society.

Jun 9, 2019

Relief for lenders as RBI relaxes stressed asset guidelines

A circular issued in February last year required banks to initiate a resolution process as soon as a default took place.

Jun 8, 2019

DHFL default is threatening to draw in mutual fund industry as 160 MFs have exposure to DHFL papers

DHFL default threatens to snowball into big crisis engulfing NBFCs, mutual funds

Public confidence in mutual funds take a beating and inflows taper with imminent payouts facing uncertainty; NBFCs face soaring finance costs triggering liquidity crunch.

Jun 7, 2019

Ola, Uber to have 40% electric fleet by 2026?

India has been pushing forward the idea of having electric vehicles for public transport to meet its commitment to the Paris Agreement.

Jun 7, 2019

Reactions | Here's what economists take from RBI's monetary policy statement

There were varying pre-estimations by economists, bankers, corporate owners and traders on their expectations from the monetary policy committee.

Jun 6, 2019

A road sign is seen next to Bombay Stock Exchange (BSE) building in Mumbai

Market cracks as RBI fails to go beyond the expected 25 bps repo rate cut

Third successive rate reduction takes repo rate to lowest in nine years at 5.75%; change in monetary policy stance to 'accommodative' removes imminent rate rise fears but the street wants more.

Jun 6, 2019

RTGS, NEFT transaction charges scrapped; RBI directs banks to pass on benefits

As far as charges on transactions are concerned, there will be more good news for customers as the RBI declared that it was setting up a panel to review charges imposed by banks on ATM withdrawals.

Jun 6, 2019

Does Huawei's Russia 5G deal signal a new world trade order split down middle?

Chinese giant ties up with Russia's MTS to deploy 5G technology as Xi begins three-day Russia visit for a summit with Putin amid escalating US-China trade war.

Jun 6, 2019