Economy News

Reversing trend in currency market; Indian rupee becomes best preforming currency in Asia since November

Interestingly, since October end, the rupee has gained 5.39% against the US dollar, making it the best performing currency in the Asian region.

Dec 23, 2018

GST council slashes taxes on 22 items; govt. to take Rs 5,500 crore hit

In another major decision, the council exempted the frozen and provisionally preserved vegetables from GST.

Dec 23, 2018

Rupee slips 37 paise to 70.07 against US dollar in early trade

Forex traders said besides increased demand of the US currency from importers, the dollar's strength against some currencies overseas weighed on the rupee.

Dec 21, 2018

Japan's cabinet approves record $900 billion budget, aims to soften sale tax blow

The general-account budget for the year starting April 1 is 101.5 trillion yen ($902.3 billion), and features increased spending on welfare, public works and defence on top of the offsetting steps.

Dec 21, 2018

Dollar struggles near one-month low, risk aversion boosts yen

The dollar hovered near a one-month low against its peers on Friday, weighed down by a subdued outlook toward U.S. interest rates and the economy, while risk aversion in the broader markets boosted the yen.

Dec 21, 2018

UK economy to slip to 7th biggest in world in 2019: PwC

PwC projected economic growth in 2019 of 1.6 percent for Britain — assuming the country manages to avoid the shock of a no-deal Brexit in March — versus 1.7 percent for France and 7.6 percent for India.

Dec 19, 2018

Rupee strengthens 50 paise to 69.94 against US dollar

The domestic unit opened with strength at Rs 70.05 at the Interbank Foreign Exchange and advanced further to 69.87 against the US dollar.

Dec 19, 2018

Rupee rises 37 paise to 71.19 against US dollar on falling crude prices

The rise in the rupee was also supported by dollar-selling by exporters and banks and the US unit's weakness against some currencies overseas ahead of US Federal Reserve Monetary policy decision Wednesday, traders said.

Dec 18, 2018

As trade war bites, China advisers recommend lowering 2019 growth target

The meeting will not result in any public announcement of economic targets, which are usually reserved for the opening of the parliamentary session in early March.

Dec 17, 2018

RBI board seeks more discussion on governance under new boss

The governance issue was a key part of the board meeting's agenda as the government wanted to have a greater say in the bank's regulatory decisions through its board nominees.

Dec 15, 2018

Will PM Modi roll out universal basic income scheme to win back voters?

To arrest the further sliding of agricultural distress, the BJP-led central government is likely to announce the Universal Basic Income in its last budget session.

Dec 14, 2018

High stocks, low prices clog palm oil supply chain in Southeast Asia

Palm oil suppliers across Southeast Asia are struggling to cope with record output, with plantations delaying harvest and mills stalling on deliveries as storage tanks overflow..

Dec 14, 2018

Nepal bans higher denomination Indian currency notes

The decision can affect Nepalese labourers working in India as well as Indian tourists visiting Nepal.

Dec 14, 2018

Didn't he pay loans for 40 years? Nitin Gadkari supports Vijay Mallya

The 'fugitive economic offender' has lost control of his vast business empire and a whole lot of prized assets and personal wealth over the last several years.

Dec 13, 2018

RBI governor Shaktikanta Das' MA History degree opens floodgates for Twitter memes

Netizens were quick to point out Das' highest educational degree was in M.A. History, unlike his predecessors who all had Ph.Ds in Economics.

Dec 12, 2018