Economy News

Vietnam suffers $660 million cryptocurrency fraud: Calls for tougher regulations

Modern Tech is now at the center of investigation behind the scam after duping as many as 32,000 investors of an estimated $660 million in relation to two Ponzi schemes.

Apr 12, 2018

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IDBI Bank shares fall over 3% after RBI levies Rs 3 crore fine

The RBI's penalty will not have any material impact on the bank, IDBI stated in a filing to the Bombay Stock Exchange. But the bank's shares slipped to a one-week low.

Apr 12, 2018

Economic freedom index: India ranks 130th, Hong Kong retains top spot

According to the 2018 Index of Economic Freedom report, India is ranked 30th in the Asia–Pacific region, and the overall score is below regional and world averages.

Apr 12, 2018

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Gold price touches one-week high amid geopolitical tensions

Geopolitical tensions and the US inflation data had an impact on traders' sentiments, resulting in an increase in the demand for the safe-haven metal in the global market.

Apr 11, 2018

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China opens up auto, financial sectors as Trump tariff war shows results

With the current move, foreign financial institutions will get the chance to compete with domestic players in market whose size is estimated at $40 trillion.

Apr 11, 2018

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Here's why Telangana, Andhra ATMs are still reeling under cash crunch

A majority of automated teller machines (ATMs) in Andhra Pradesh and Telangana are still running without cash due to non-supply of notes. But what has led to this sudden crunch in cash supply?

Apr 11, 2018

BJP declares 2016-17 income of Rs 1,034 crore, 80% higher than 2015-16

The 7 national parties -- BJP, Congress, NCP, BSP, CPI(M), CPI, and Trinamool Congress -- have declared a total income of Rs 1,559.17 crore.

Apr 11, 2018

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India's GDP growth at 7.3% in 2018-19, backed by GST, demonetization: ADB

Asian Development Bank says growth in South Asia remains among the world's fastest, driven by a recovery in India, the region's largest economy.

Apr 11, 2018

Blockchain jobs in India: Which city offers the most opportunities?

Bengaluru followed by Mumbai, Hyderabad, Pune, and Chennai are the top-five destinations for blockchain careers in the country.

Apr 10, 2018

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Go gold: 3 gold investment schemes backed by Indian government in 2018

There's no better way of investing in gold than through the government-backed methods. Know more about Gold Monetization Scheme, Sovereign Gold Bonds Scheme, and Indian Gold Coin.

Apr 10, 2018

Which is the world's busiest airport? Delhi's IGI among top 20

According to the Airports Council International (ACI), close to 104 million passengers passed through the Hartsfield-Jackson Atlanta International Airport in 2017.

Apr 10, 2018

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Decent debut for Lemon Tree Hotels: Shares close 29 percent higher

Shares of Lemon Tree Hotels made a strong debut on the exchanges on Monday with a premium of 10 percent.

Apr 9, 2018

Xiaomi sets up new manufacturing units in India

Xiaomi rides the Make in India wave: To create 50,000 jobs

Xiaomi has set up three new smartphone manufacturing units in Tamil Nadu and Andhra Pradesh, along with company's first Surface Mount Technology (SMT) plant in Chennai.

Apr 9, 2018

While India is buying planes by hundreds, China is creating an industry

India's aviation market is expected to surpass that of China in the next 10 to 15 years, but there's little done in terms of setting up indigenous manufacturing units to meet the burgeoning demand.

Apr 9, 2018

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Check list of 11 public sector banks under RBI scanner over NPAs

Government sources reportedly confirmed that more banks are expected to be brought under the Prompt Corrective Action (PCA) framework because of deteriorating performance.

Apr 9, 2018