Economy News

2019 Startup World Cup by Fenox Ventures

The Birth of the Second Generation Union

The financial services market is expected to invest close to €1.2 billion (roughly $1.4 billion) by 2021 to implement blockchain technology for cross-sector remittance and payments.

Jun 4, 2018

Air India sale gets no bid, how will Modi government tackle this hurdle?

The bid was especially crucial for the central government's goal to retain the fiscal deficit. The sale would have helped ease a load of about $5.1 billion of its debt.

May 31, 2018

India's growth likely topped 7 percent again in January-March quarter

The biggest risk India faces is rising crude oil prices LCOc1, which this month hit $80 a barrel, their highest since 2014.

May 31, 2018

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Bankers' nationwide strike: Why are 10 lakh employees protesting?

Earlier this month. the Indian Banks' Association (IBA) had offered a hike of 2 percent over the total wage bill of the banks. This was right away rejected by the bank unions, thus prompting a nation-wide strike on May 30 and May 31.

May 29, 2018

Two-day bank union strike: ATM transactions, salary withdrawal may take a toll

The strike called by an umbrella body of nine bank unions is to protest against the poor two percent wage hike offered by the Indian Banks' Association.

May 29, 2018

Who is Sudha Balakrishnan? Reserve Bank of India gets its first CFO

Sudha Balakrishnan, the new chief financial officer of RBI, is a chartered accountant and was a vice-president at the National Securities Depository Limited until recently. She is the 12th executive director of RBI and has come on board for a term of three years.

May 28, 2018

Asian shares shaky after Trump ditches summit with North Korea

In addition to North Korea, the possibility of US tariffs on foreign auto imports are stoking worries about trade war, although investors also see this threat from Washington as a tactic to get better bilateral deals from major auto exporter nations.

May 25, 2018

India's rank in global competitiveness improves – by one notch; USA returns to top spot

IMD World Competitiveness Center's global competitive rankings are based on various parameters in diverse areas. India, which slipped to 45th rank in 2017, has now climbed to 44th rank. A total of 63 countries were assessed.

May 24, 2018

Indian Oil to turn to traditional suppliers to meet Iran oil shortfall

Indian Oil Corp controls 1.6 million barrels per day (bpd) of refining capacity or about a third of the country's overall capacity.

May 23, 2018

No cancellation fee on flight tickets cancelled within 24 hours of booking: Jayant Sinha

Ticket booked 96 hours (4 days) before the flight will not be eligible for the cancellation fee waiver

May 22, 2018

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Oil prices rise on worries over Venezuelan supply

The United States is actively considering oil sanctions on Venezuela, where output has dropped by a third in two years to its lowest in decades.

May 22, 2018

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Oil Minister Dharmendra Pradhan says considering steps to keep fuel prices in check

Opposition leaders have criticised the Indian government for failing to rein in rising fuel prices, which is a politically-sensitive issue in the country.

May 21, 2018

Oil prices boosted by news China, U.S. put trade war 'on hold'

Analysts say there is enough supply to meet demand despite ongoing production cuts led by the Organization of the Petroleum Exporting Countries (OPEC), plunging output in crisis-struck Venezuela and looming U.S. sanctions against major oil producer Iran.

May 21, 2018

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Tata Steel completes $5.2 billion purchase of bankrupt Bhushan Steel

The Tata Steel unit will raise a bridge loan of 165 billion rupees to help fund the acquisition, while Tata Steel is investing the remainder in the unit, Bamnipal Steel.

May 19, 2018

Here's how Kerala's Pinarayi Vijayan govt plans to revive Neera

Neera is tapped from palm trees just before dawn. Marketing Neera under a unified brand was primarily initiated by the UDF government. Kerala agricultural minister has now confirmed the LDF government's visions to take the strategies forward.