Economy News

Indian rupee hits 14-week high against US dollar; tax collections rise

Sustained debt and equity buying by foreign investors enables the Indian rupee to close at a 14-week high against the US dollar; tax collections also increase.

Feb 11, 2017

Valentine's Day 2017: Rose exports, domestic sales poised to blossom this year in India

Sale of roses in India as well as export of rose stems for Valentine's Day 2017 are expected to be slightly higher, says floriculturists.

Feb 11, 2017

India's foreign exchange reserves increase by $1,500 million; select stocks hit 52-week high

Rising for the fourth straight week, India's foreign exchange reserves stood at $363.14 billion as of February 3, 2017.

Feb 10, 2017

'Indians contributed £433 million to Britain's economy in 2015'

India and Britain recently signed agreement to remove limit on flights to key Indian cities, enhance bilateral trade and tourist arrivals.

Feb 10, 2017

EPFO may soon decide to invest more of its funds into stock markets

The EPFO currently invests 10% of its incremental deposits into ETFs and may soon raise it to 15%.

Feb 10, 2017

China releases theme and details of 2017 BRICS Summit: Will the meeting benefit India?

The BRICS Summit 2017 calendar is also out, and it can be seen and read here. China has outlined a four-point agenda to be discussed by the partner countries.

Feb 10, 2017

Copper prices hit 18-month high as workers at BHP Billiton's Escondida mine in Chile set to go on strike

A work stoppage at Escondida, the world's largest copper-mining site, will cut about 25,000 tonnes a week from the global copper market.

Feb 9, 2017

Indian ad industry may not have grown at 17% in CY 2016 as projected

The Pitch-Madison Advertisement Report 2016 made bullish estimates but demonetisation came as a bolt from the blue.

Feb 9, 2017

RBI to completely remove cash withdrawal limits on savings accounts from next month

On Wednesday, the RBI said the limit on cash withdrawals from savings accounts will be completely lifted from March 13.

Feb 8, 2017

Can NBFCs fill the void as banks' appetite to lend deteriorates after NPA woes?

NBFCs have built substantial AUM in the personal loan and housing finance segments, which so far have been the bread and butter for retail banks.

Feb 7, 2017

Kerala to UAE flights: IndiGo's daily flights from Kozhikode, Trivandrum to Sharjah; check new flight schedules

The daily flights from Sharjah to Kozhikode and Muscat to Kozhikode will be introduced on March 20, while the Sharjah to Thiruvananthapuram route will begin from April 8.

Feb 7, 2017

Income-tax department confirms status on bank deposits up to Rs 2.5 lakh during demonetisation

There were fears on whether they would be subject to scrutiny by the I-T department for deposits after demonetisation.

Feb 6, 2017

ELSS could see spike in inflows after slowdown in December 2016

Net inflows into ELSS, which qualify for deduction u/s 80C, dipped after rising from July 2016 to November 2016, reveals Amfi data.

Feb 6, 2017

Govt walks the talk: Imposes 100% penalty for accepting cash above Rs 3 lakh

Finance Minister Arun Jaitley had proposed in the Budget to levy penalty on a person who receives Rs 3 lakh and above.

Feb 5, 2017

RBI to soon issue new Rs 100 notes, so what happens to the old notes?

In the wake of demonetisation, short-supply of Rs 100 notes and near absence of new Rs 500 notes in the market resulted in the general public reluctantly accepting Rs 2,000 note.

Feb 5, 2017