Economy News

Here's what IATA said on global passenger demand, PLF, revenues for 2016

Passenger demand growth rate will be down to 6.2 percent, while cargo demand growth may be muted at 2.1 percent, y-o-y, said IATA.

Jun 3, 2016

OPEC fails to agree on capping output

Tensions between Saudi Arabia and Iran had blighted several previous OPEC meetings.

Jun 3, 2016

Sebi chief sells India story to Silicon Valley investors

Minority shareholders in India now have stronger rights than in the United States, Sebi chairman U.K. Sinha said.

Jun 3, 2016

Despite gloomy warnings for economy, UK voters seem to favour Brexit

A majority of British citizens favour Brexit despite a negative assessment of economic consequences by OECD and others.

Jun 2, 2016

CII supports second term for RBI Governor Raghuram Rajan

Naushad Forbes, president of the CII, said that Rajan's re-appointment will be seen as "positive" by industry.

Jun 2, 2016

India seeking $56 billion investments in electronics sector by 2020

Due to increasing demand for hi-tech products, India needs to increase output in the electronic sector by $300 billion in the next four years.

Jun 2, 2016

Japanese investors looking 'very seriously' at India, says Arun Jaitley

FM Arun Jaitley said that reforms, like the passage of the GST Bill, will turn India into a 'more developed' economy.

Jun 2, 2016

Modi government hikes minimum support prices for rice; analysts say food inflation could go up

The decision to raise MSP for rice and other crops for this fiscal's kharif crop season has also been welcomed for its "prudent" nature.

Jun 2, 2016

India in 'advanced discussions' with Westinghouse Electric to set up 6 nuclear plants

Arun Singh, India's envoy to the U.S., told reporters that the country and Westinghouse Electric are in "advanced discussions" for the project.

Jun 2, 2016

RBI Governor Raghuram Rajan not seeking 2nd term: Report

Kolkata-based Anandabazar Patrika reported that Rajan has requested the prime minister to relieve him of his duties after his tenure ends in early September.

Jun 1, 2016

World's longest rail tunnel witnesses maiden train journey in Switzerland

The tunnel, situated under the Alps, measures 57 km in length and cost $11 billion to build.

Jun 1, 2016

No restriction now on mutual fund redemption up to Rs. 2 lakh

Sebi issued a new circular on norms governing redemptions by mutual fund investors on Tuesday.

Jun 1, 2016

Emerging economies spent more than rich nations on renewable power: Report

Global investments in renewables reached a peak of $286 billion last year, BBC reported.

Jun 1, 2016

Rajan's reappointment as RBI chief likely under Modi's rule

With Modi's patronage, it is more likely the government will reappoint Rajan, whose three-year term expires in September.

Jun 1, 2016

India's per capita income grows 7.4% to Rs. 93,293

The country's national income registered 7.5 percent growth to Rs.112.12 lakh crore during 2015-16.

May 31, 2016