Economy News

India set to impose $240 mn retaliatory tariffs on imports from US

India has submitted a revised list of 30 US imports, including apples, almonds, phosphoric acid and Harley-Davidson motorcycles, to the WTO on which it intends to impose retaliatory tariffs

Jun 17, 2018

FII inflow to drop as US Federal Reserve hikes interest rate

The Indian market has experienced a volatile period in terms of FII investments since the beginning of the year. While the 25 bps hike by the US Federal Reserve was not really a surprise, it is definitely affecting the Indian economy.

Jun 15, 2018

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US Federal Reserve raises rates amid stronger inflation

Fed Chairman Jerome Powell said that "the economy is doing very well".

Jun 14, 2018

Tesla sends home 9% workers as Elon Musk chases elusive profits

The measure means that some 4,100 of the firm's 46,000 employees will lose their jobs. The layoffs will not affect operations at the factory producing the Model 3.

Jun 13, 2018

Slowing gasoline price rises keep US inflation in check

US consumer prices rose marginally in May amid a slowdown in increases in the cost of gasoline and the underlying trend continued to suggest moderate inflation in the economy.

Jun 13, 2018

IMF Chief warns of 'darker economy' over US trade policies

Christine Lagarde attacks US president Donald Trump's trade policies, warns that escalating trade war could lead to the global economy getting darker.

Jun 12, 2018

Not received any communication from US' SEC on Kochhar: ICICI Bank

Earlier, the Securities and Exchange Board of India (Sebi) had sought responses from the company and Kochhar on alleged non-compliance of the "erstwhile 'Listing Agreement' and the 'Listing Obligations and Disclosure Requirements) Regulations, 2015'".

Jun 12, 2018

Theresa May: No question of second brexit referendum

Explainer: Brexit and the Irish backstop riddle

Efforts to avoid a "hard border" in Ireland can seem baffling but as British Prime Minister Theresa May battles parliament over Brexit, the issue is central to understanding how her demands to the European Union may change.

Jun 11, 2018

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Revival of 'bad bank' idea: Government sets up committee to tackle bad loans

Known as a 'Bad Bank' in industry parlance, the Asset Reconstruction Company, in essence, deals with the existing bad loans of the banks and provides a mechanism for recovery of the outstanding dues.

Jun 9, 2018

The isolation of President Trump at the upcoming G7 Summit

Trump's intentions might be to Make America Great Again or America First, but the US president cannot risk damaging the standing of the United States in the Global Arena.

Jun 8, 2018

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RBI raises repo rate by 25 basis points in first ever hike in over four years

The reverse repo rate was also raised by 25 basis points, to 6.00 percent.

Jun 6, 2018

India will remain world's fastest growing economy in 2019 at 7.3%, World Bank says

India has overcome the temporary disruptions caused by the implementation of the Goods and Services Tax (GST) by mid-2017, the bank said.

Jun 6, 2018

Google CEO, US Senator meet Cuban President, hint at improving relations between the two countries

Eric Schmidt and Jeff Flake met President Miguel Diaz-Canel to discuss bilateral relations that have faced a setback under the Trump administration.

Jun 5, 2018

IDBI Bank CEO appointed RBI deputy governor

Mahesh Jain comes with over 30 years of banking experience, having previously lead Indian Bank and served on the boards of various other banks.

Jun 4, 2018

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.