Economy News

China April exports, imports decline more than expected

China exports fell 1.8 percent from a year earlier whereas imports dropped 10.9 percent.

May 8, 2016

IRCTC ticket sales online railway ticket sales Indian Railways

IRCTC sold 200 million tickets in FY16, aims for more in current fiscal

IRCTC, an Indian Railways subsidiary, handles catering, tourism and online ticketing.

May 7, 2016

Oil up on Canada wildfire, dollar; big weekly loss for Brent

Reports of a militant attack on a Chevron platform in Nigeria's oil-rich Niger Delta region and a drop in the number of U.S. oil drilling rigs also helped lift prices on the day.

May 7, 2016

Trump dips toe into delicate US debt discussion

the likely Republican presidential nominee said he would "borrow knowing that if the economy crashed you could make a deal."

May 7, 2016

Rupee closes unchanged at 66.55 to the US dollar; IDFC gains despite markets ending with losses

The Indian rupee closed at 66.55 to the greenback; on the BSE, IDFC gained 11.69 percent even though Sensex shed 34 points.

May 6, 2016

India aims to boost gas consumption, reduce dependence on oil

Currently, oil accounts for a quarter of the country's energy needs, while the share of gas stands at 8 percent.

May 6, 2016

India's foreign exchange reserves at an all-time high of $363 billion

An increase of $1.52 billion in India's foreign exchange reserves lifted kitty to $363.12 billion, according to RBI's weekly data.

May 6, 2016

RBI includes individuals as eligible promoters for the first time in draft norms for universal bank licences

The Reserve Bank of India (RBI) released the draft guidelines for issuing universal bank licences on continuous ("on tap") basis.

May 5, 2016

HDFC Life to hire 4 banks for Rs. 3,325 crore IPO

HDFC Life may appoint Citigroup, JPMorgan Chase, Morgan Stanley and Kotak Mahindra Bank as banks for the planned IPO.

May 5, 2016

Dengue costs the world $8.9 billion every year: Study

Health economists at Brandeis University, U.S. published a report on the economic burden dengue imposes.

May 5, 2016

Govt removes restrictions on coal supply procedure

The govt aims to distance itself from managing the utilisation of coal and and to give freedom to private power producers.

May 5, 2016

Govt gives nod to highway projects worth Rs. 4,400 crore in Himachal Pradesh, UP

The Cabinet Committee on Economic Affairs approved the two projects in Himachal Pradesh and Uttar Pradesh.

May 5, 2016

India eyes cleanup of bad debt mountain as wary state banks hesitate

India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors.

May 5, 2016