Economy News

Minimum wage hike proposal currently put on hold

A labour ministry official said that any increase in wages would further raise the input cost for manufacturers and make them less competitive.

Jul 7, 2016

7th Pay Commission: Central Govt employees postpone July 11 strike on hopes of higher salary hike

With the Modi government assuring the central government employees on a better deal with regard to the 7th Central Pay Commission, the July 11 strike stands deferred.

Jul 7, 2016

India's domestic air passenger growth 'fastest' at 18.8%

India's domestic air passenger growth at 18.8 percent was far ahead China and the United States, IATA said.

Jul 7, 2016

Asia stocks bounce, Aussie dollar hit by ratings blow

The Aussie initially fell half a U.S. cent to $0.7470 after Standard and Poor's cut the country's outlook to negative.

Jul 7, 2016

Oil edges up on U.S. inventories, but slowing Asia weighs

Traders said that a report of a reduction in available U.S. crude oil stockpiles had been the main overnight price driver.

Jul 7, 2016

Indian banks need $90 billion to meet Basel III rules, says ratings agency Fitch

More than half the capital needs will have to be met via core equity, Fitch said.

Jul 6, 2016

India's GDP growth rate probably 'overstated', PM Modi slow on economic reforms: Obama Govt

The US State department has termed India's 7.5 percent GDP growth rate 'overstated', according to a PTI report.

Jul 6, 2016

Govt approves 9% hike for nearly 2 lakh BSNL pensioners

The hike is expected to fulfill a long pending demand of revision of pension of BSNL absorbed employees who retired prior to June 2013.

Jul 6, 2016

India's June services PMI logs 2nd slowest growth in a year

The slowing reading indicates concerns regarding the sustainability of the economic upturn, according to Nikkei India Services Business Activity Index.

Jul 5, 2016

Govt gives approval for 56 highways in Himachal Pradesh

The total cost of constructing the highways will be about Rs. 13,000 crore.

Jul 5, 2016

7th Pay Commission: Rail workers could be sacked, imprisoned if they join July 11 strike, says Railway Board

The Railway Board has said employees would face imprisonment, fines and even dismissal if they go on strike on July 11.

Jul 5, 2016

Airlines globally planning investment in cyber security: Survey

Currently, about 91% airlines globally are making advance preparations to manage cyber risks against 47% of the airlines doing so three years back.

Jul 4, 2016

Soon Aadhaar-like cards for cows; Haryana launches 24*7 cow helpline

The government is mulling over plans to tag about 85 million cows, while Harayana government launches a 24 hour cow helpline.

Jul 4, 2016

Oil extends gains, Saudi minister sees market balance

The energy minister of Saudi Arabia agreed that the global oil market is heading toward a balance and that prices are starting to settle

Jul 4, 2016

Bullish textile sector poised to get Rs. 5000 crore inflow; 2 million new jobs on the anvil

The apparel industry appears to be buoyed by government's booster package of Rs. 6000 crore approved in June 2016 with possibilities of adding more jobs.

Jul 3, 2016