Economy News

Asia stocks at 17-month low amid China concerns

Japan's Nikkei fell 1.2 percent, hurt in part by a rise in the safe-harbour yen.

Oct 9, 2018

Increasing consumer pessimism should worry Modi as elections approach

The RBI survey gives the government a glimmer of hope. It says that though the present outlook is dispiriting, consumers expect a turnaround net year.

Oct 8, 2018

NBFCs shares plunge as RBI plans to strengthen sector norms

The RBI left key policy rates unchanged on Friday and urged all financial firms to use long-term funds rather than rely on short-term funding.

Oct 8, 2018

Dalal Street bleeds as foreign investors pull out Rs 9,300 crore in just four sessions

The latest depository data shows that foreign portfolio investors (FPIs) have flushed out a net sum of Rs 7,094 crore from equities during the first five days in the month of October.

Oct 7, 2018

Fresh liquidity for Jet as Etihad to make $35 million cash pre-purchase payment

The plan includes a $35 million cash pre-purchase payment to Jet Airway's frequent flyer programme JPPL ( Jet Privilege Private Ltd), which is majority-owned by Etihad Airways.

Oct 7, 2018

Fund outflows, oil prices to sink rupee further; 75-mark in sight

The continuous outflow of foreign funds from the equity segment and global market volatility will likely push the rupee to the 75-mark to a US dollar in the coming days, the experts opined.

Oct 7, 2018

Govt to narrow current account deficit, bolster forex inflows: Finance Minister Arun Jaitley

The government has taken some steps and some more measures that are likely to narrow CAD, Jaitley said at the HT Leadership Summit.

Oct 6, 2018

RBI monetary policy decision hurts Indian currency; rupee hits new low of 74 against USD

Just after the RBI announced its decision, post 2.30 p.m., the rupee plunged to over 74 a US dollar -- the lowest ever mark -- it has touched against the greenback.

Oct 5, 2018

RBI holds key lending rates; repo rate stays at 6.5%

In August, the RBI had hiked its repo rate by 25 basis points to 6.50 per cent citing upside risks to inflation.

Oct 5, 2018

Fuel price cut: Centre announces Rs 2.50 relief amid spiralling petrol, diesel rates

Union Finance Minister Arun Jaitley made this announcement while addressing a press conference on Thursday.

Oct 4, 2018

Mukesh Ambani richest Indian for 11th consecutive year; Azim Premji, Lakshmi Mittal seal top 3

Billionaire Hinduja brothers, Pallonji Mistry, Shiv Nadar and others sealed the top 10 while biotech queen Kiran Mazumdar-Shaw emerged the biggest gainer percentage-wise among women in Forbes India Rich List 2018.

Oct 4, 2018

Short-term relief for farmers as Centre hikes MSP of Rabi crops for 2018-19

The Union cabinet headed by Prime Minister Narendra Modi approved the hike in the MSP of wheat by Rs 105 per quintal, masaur Rs 225,/quintal, safflower by Rs 845/quintal, and gram by Rs 220/quintal.

Oct 4, 2018

RBI allows oil firms hit by rising costs to raise $10 billion overseas

India, the world's third-biggest oil importer, depends on overseas markets to meet 80 percent of its oil needs.

Oct 4, 2018

Commerce Minister Suresh Prabhu to chair inter-ministerial meet on rupee, trade deficit

The meeting will deliberate upon ways to address India's trade deficit in goods and pressure on the rupee, the official added. Representatives from the department of economic affairs, coal ministry, steel ministry, oil ministry and department of pharmaceuticals are expected to attend the meeting.

Oct 3, 2018

Government spent Rs 1,997 crore on salaries, perks of MPs in past four years

While Rs 71.29 lakh was spent on an average for a member of Lok Sabha, Rs 44.33 lakh was spent on a Rajya Sabha member, the Lok Sabha secretariat said in response to the RTI application, filed by activist Chandra Shekhar Gaud.

Oct 3, 2018