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Economy News

Pump Jacks and Oil fields

Russia, Saudi to extend OPEC+ pact to arrest sliding oil prices

The announcement was made by Russian President Vladimir Putin after he met Saudi Arabian Crown Prince Mohammed bin Salman in the sidelines of G-20 meeting in Argentina. Dec 2, 2018
Cargo

China says no to India's proposal to renminbi-rupee trade

India was looking for renminbi-rupee to buttress its exports and check the arresting state of increasing the trade deficit. Dec 2, 2018
World Leaders Pose For Official G20 Summit 2018 Photo

G-20 Summit endorses multilateral trade system, WTO reforms

The two-day summit discussed issues such as the future of work, infrastructure for development, financial stability, climate sustainability and international trade, among others. Dec 2, 2018
GDP

In fresh headache for Modi, GDP growth slumps to 7.1% in second quarter

New numbers pose a headache for Modi government as it enters an election year and faces criticism over new back series GDP numbers Dec 1, 2018
China, USA, Donald Trump, Xi Jinping

Trade war escalation the 'most likely' outcome of Trump-Xi dinner: Goldman Sachs

The G-20 summit could be the last chance to the economic powerhouses to avoid a full-fledged trade war which has sent shock waves across the global financial markets. Nov 30, 2018
IL&FS

lL&FS crisis spill over, employees detained in Ethiopia by unpaid local staff

The letter highlighted the inability of the IL&FS management to send funds due to the restriction imposed by the Reserve Bank of India (RBI). Nov 30, 2018
demonetisation gamble modi sarkar government deposits bank notes exchange rbi black money cash

Demonetisation continues to haunt India as notes printed in 2016 becomes unusable

The scale of the problem is so huge that apart from the Rs 2,000 and Rs 500 notes, even the newer Rs 10 notes, which were issued this year have also started to become 'unusable'. Nov 30, 2018
Narendra Modi and Rahul Gandhi fake Twitter followers report is flawed

With crude at year's low, fuel smiles on PM Narendra Modi in election year

Riyadh was hoping that it could piece together a plan to announce an output cut at the Organisation of Petroleum Exporting Countries (Opec) summit next week, but the Russian response hasn't been positive. Nov 29, 2018
Arun Jaitley with Narendra Modi

Slashed GDP growth estimates for Manmohan Singh years sparks row

The Central Statistics Office (CSO) had estimated that India's GDP grew by 8.5 per cent in the 2010-11 financial year, and not at 10.3 per cent as previously estimated. Nov 29, 2018
Kotak Mahindra

RBI stricture on promoter share dilution worries investors ahead of December deadline

The share prices of Bandhan Bank and Kotak Mahindra Bank have tanked substantially following the RBI directives. Nov 28, 2018
Maldivian joint opposition presidential candidate Ibrahim Mohamed Solih

India offers cash-strapped Maldives $1 billion in loans, but is there a catch?

Under the leadership of former president Abdulla Yameen, Maldives is known to have borrowed a large amount of money from China and the funds were used to build infrastructure and houses as part of Beijing's Belt and Road initiative Nov 28, 2018
Reserve Bank of India

Major relief for NBFCs and small business as RBI eases hedging norms

In a circular issued by the central bank, for ECBs which have a maturity period between three-five years, the mandatory hedging requirement has come down to 70%, instead of the earlier level of 100%. Nov 28, 2018
bse, stock markets, stock broker, indian stock markets, bse sensex, nse nifty

Sensex ends up 160 points, financial stocks close flat

The Sensex settled up 159.06 points or 0.45 per cent at 35,513.14, from its previous close of 35,354.08. It touched an intra-day high of 35,555.16 and a low of 35,262.97. Nov 27, 2018
rbi mpc meeting, rbi repo rate, rbi governor urjit patel, rbi deputy governor, rbi slr, rbi growth rate projection

Govt-RBI tussle is far from over; turf war could spill over at Dec 14 meeting

A Bloomberg report says the government nominees on the board will ask RBI to take steps to prevent banks from accumulating bad loans rather than penalise them after the fact. Nov 27, 2018
gst. gst all you need to know, gst rates, gst how to register, gst registration, gst exemption, gst midnight session

Indian workers' pay rising fastest in South Asia, but wage inequality is high too

The report also finds that globally women continue to be paid approximately 20 per cent less than men. Nov 27, 2018
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