Economy News

Indians coming back after 1-year foreign stay to pay 15% duty on certain items

However, the total aggregate value of duty goods should not exceed Rs. five lakh, according to the new custom rules.

Apr 10, 2016

Govt releases Rs. 12,230 crore under MGNREGA fund to states

The Supreme Court had recently criticised the government for not providing adequate relief to the drought hit states.

Apr 10, 2016

Egypt, Saudi Arabia sign 60 billion Saudi riyal investment fund pact

An MoU was also signed between the Saudi Public Investment Fund and the Egyptian International Cooperation Ministry.

Apr 10, 2016

Energy ties with Iran not limited to crude oil: Oil minister Dharmendra Pradhan

India is ready to invest $20 billion in the port of Chabahar in Southeastern Iran.

Apr 9, 2016

With 30% stake in Sanmar Chemicals, Fairfax India investment reaches $1 billion

Sanmar will get Rs.1,996 crore equity investment from Fairfax, helping it become one of the largest PVC makers globally.

Apr 9, 2016

Tax collection exceeds target for the first time in 8 years

The gross tax collection for 2015-16 at Rs.14.60 lakh crore (provisional) exceeded for the first time since 2007-08, writes BusinessLine.

Apr 9, 2016

US small cap funds shine in first quarter but may have harder road ahead

The trailing price-to-earnings ratio of the benchmark Russell 2000 now stands at 27.2.

Apr 9, 2016

China steel exports hurt market economy status, industry official says

China Iron and Steel Association Secretary General Liu Zhenjiang said the recovery in prices in 2016 had created a "vicious circle."

Apr 9, 2016

India's foreign exchange reserves hit an all-time high of $360 billion

The reserves stood at $359.75 billion in the week ended April 1, up from the earlier historic high of $355.94 billion.

Apr 8, 2016

India to woo UAE investors in Dubai

India, the world's fastest-growing economy, will participate in a three-day investment event in Dubai commencing April 11.

Apr 8, 2016

India probing $4.5 billion coal import scam

The Indian finance ministry is investigating alleged over-invoicing of coal imports by about 40 companies.

Apr 8, 2016

Fed’s Janet Yellen says US still on track for more rate hikes

The US economy is on a solid course and still on track to warrant further interest rate hikes, Federal Reserve Chair Janet Yellen said on 7 April.

Apr 8, 2016

Panama Papers: Finance Minister Arun Jaitley warns illegal account holders

Arun Jaitley said that each account was being analysed and illegal account holders "won't get sleep at night," PTI reported.

Apr 8, 2016

Asian shares drop as banks come under pressure, yen soars

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent.

Apr 8, 2016

Income tax department launches 3 more ITRs for e-filing

The IT Department is streamlining filing of income tax returns online, even as it seeks more disclosure of assets from high-net-worth individuals.

Apr 7, 2016