Economy News

India may continue to buy Iranian oil amid US ending waiver

India was among eight nations which were granted waivers from US sanctions on Iran. The countries included China, Japan, South Korea, Turkey, Taiwan, Italy and Greece

Apr 23, 2019

Has Jet Airways bidders' interest nosedived amid loss of flight slots, procedural confusion?

Redistribution of grounded airline's flight slots to rivals, regulatory confusion as top court stays key RBI circular on stressed assets, and threat of bankruptcy proceedings cloud the fate of stake sale.

Apr 23, 2019

Queen Elizabeth and the royal treasury will be taxed extra because of Meghan Markle

Since the Duchess of Sussex has not renounced her citizenship, she will be doubly taxed, both by the USA and the U.K.

Apr 12, 2019

With its arms wide open, Sharjah is set to embrace new investments

The third largest emirate, which served as the secondary affordable residential backup hub for Dubai is now charting its own journey of excellence; while retaining its culture and heritage.

Apr 11, 2019

Global Markets: Asian shares pause near eight-month high, dollar weakens

Overnight, European and U.S. shares gained. On Wall Street, the S&P 500 added 0.35 per cent, the Nasdaq climbed 0.7 per cent while the Dow was barely changed.

Apr 11, 2019

IMF scales down India's growth forecast, economy to grow at 7.3% in FY20

Notably, the Indian economy slumped to a five-quarter low of 6.6% in December quarter of the running fiscal year post which the Central Statistics Office cut down its 2018-19 forecast from an earlier estimate of 7.2% to 7%.

Apr 10, 2019

Inflation seen inching up in March, but still below RBI target: Survey

According to the median consensus of over 40 economists polled by Reuters between April 4 and 8, consumer prices rose at an annual rate of 2.80 per cent in March, up from 2.57 per cent in February.

Apr 9, 2019

Oil hits November 2018 highs amid OPEC supply cuts, US sanctions

Brent and WTI both hit their highest levels since November last year at $70.76 and $63.48 per barrel, respectively, early on Monday.

Apr 8, 2019

Will banks reduce housing, car loan interest after RBI's rate cut?

RBI expects banks to bring down interest rates on housing and car loans unlike in February when the lenders resisted advise to transfer the rate cut benefit to customers.

Apr 5, 2019

Saudi Arabia threatens to ditch dollar oil trades to stop 'NOPEC'

In the unlikely event, Riyadh was to ditch dollar, it would undermine its status as the world's main reserve currency, reduce Washington's clout in global trade and weaken its ability to enforce sanctions on nation states.

Apr 5, 2019

Oil prices fall, Brent drops away from $70

International benchmark Brent futures dropped 23 cents, or 0.3 per cent, to $69.17 a barrel by 0040. On Thursday, they closed 9 cents higher after touching a session high of $70.03, the highest since Nov. 12.

Apr 5, 2019

RBI cuts repo rates by 25 basis points to 6 percent, EMIs set to be cheaper

RBI decided to cut repo rates by 25 basis points or 0.25 per cent to 6 per cent, meeting a majority of economists' expectations.

Apr 4, 2019

Sluggish beginning for startups in 2019, funding down by 25 percent

As per startup data platform, Tracxn, Jan-Mar quarter of the calendar year (CY) 2019 has witnessed a drop in total deal value from $3.2 billion to $2.4 billion, which is 25% less than the preceding quarter (Oct-Dec 2018).

Apr 3, 2019

US dollar rises amid declining euro

In late New York trading on Tuesday, the euro decreased to $1.1198 from $1.1211 in the previous session, and the British pound was down to $1.3114 from $1.3125 in the previous session, dollar increased amid a weaker euro

Apr 3, 2019

RBI plans series of steps to boost economy's liquidity ahead of Lok Sabha elections

Another round of rate cut, the second tranche of dividend payment to government and a rupee-dollar swap auction are on the cards.

Apr 2, 2019