Economy News

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SBI, PNB and ATM service providers under tax scanner

To avoid payment of VAT and the wrongful claim of the tax credit, the revenue department's intelligence unit has started an investigation into certain banks and ATM service providers.

Mar 27, 2018

India is second largest steelmaker, ahead of Japan but behind China

China's production for February was 64.9 million tonnes (Mt), while India followed with 8.4 Mt. Japan produced 8.3 Mt, down 0.5 percent.

Mar 27, 2018

Indian bonds are no more selling like hot buns: Here's why

Foreign investors have sold a net $1.12 billion in Indian debt this month - the highest since December 2016, and are now on the verge of turning net sellers for the year.

Mar 27, 2018

Markets are bleeding, but Jeff Bezos adds $25 billion to his fortune

According to Bloomberg Billionaire Index, Jeff Bezos' net worth is $125 billion. He added $25 billion to his fortune since January 1, despite the massive sell-offs in global markets.

Mar 26, 2018

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UPI winning the race: India's homegrown payment system beats Visa, Mastercard

The interface is regulated by the RBI and works by instantly transferring funds between two bank accounts on a mobile platform.

Mar 26, 2018

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New record in outbound remittances: Know how much money Indians send abroad

According to Reserve Bank of India data, outbound remittances by individual residents reached $1.2 billion in January 2018.

Mar 26, 2018

Snub to US? China, India in $2.4bn deal to boost agri-products trade

The trade boost comes ahead of a proposed meeting between Commerce Minister Suresh Prabhu and his Chinese counterpart Zhong Shan in New Delhi this week.

Mar 26, 2018

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Indian applicants for US EB-5 visas seen plunging 80%: CanAm

The forecast comes amidst a proposal by the U.S. government to raise the investment amount from $0.5 million to $1.3 million for EB-5 visa applications by next year.

Mar 26, 2018

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Gold prices at 15-month high on US-China trade war

Trump has repeatedly said that he would take a tough stance on trade with China. It has now led to safe-haven buying and resulted in the gold prices reaching a 15-month high.

Mar 24, 2018

Expensive two months for world's 500 richest people: Lost $436 billion

Mark Zuckerberg lost $10.3 billion and Larry Ellison suffered a drop of about $7 billion on the Bloomberg Billionaires Index.

Mar 24, 2018

No, govt cannot ban bitcoin but there's lot it can do

In order to ban bitcoin, governments will have to shut down the internet and its very unlikely that any country would resort to that level.

Mar 24, 2018

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Top five investment options for salaried individuals

At a time when investment in shares has seen a downward trajectory in respect of returns for you, you can consider these five good instruments to recoup better returns.

Mar 24, 2018

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H-1B Visa application and process: What you need to know

The petitions for H-1B visas will be accepted from April 2 and the filing of the petition for the fiscal year 2019 will starts on October 1, 2018.

Mar 24, 2018

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Markets weekahead: Nifty to test 9,800 resistance as bears take charge

The Indian markets will focus on ongoing trade war tensions between the U.S. and China, Europe economic data and Lemon Tree IPO in the truncated week.

Mar 24, 2018