Economy News

Residential projects worth Rs 4.6 trillion stuck across major cities

Mumbai and Delhi have topped the list, with projects worth Rs. 2.34 trillion and Rs. 1.26 trillion in uncertainty.

Aug 24, 2018

US sanctions on Iran starts to show its effect; India's oil imports bill set to increase

India is likely to face an uphill task to look for the options to sustain oil imports from Iran, the third-biggest crude supplier after Iraq and Saudi Arabia.

Aug 23, 2018

Delhi's second airport? Hindon airbase in Ghaziabad to soon get regional connectivity

The AAI will use the airstrip of the Indian Airforce which has its base in Hindon. Notably, Airforce station Hindon is the biggest air base in Asia.

Aug 21, 2018

14 million bolivars for a chicken? Venezuela is battling economic slump amid hyperinflation

Recently, the Venezuelan government introduced a series of reforms to further arrest the downfall of the currency including the introduction of new banknotes.

Aug 21, 2018

Reliance denies joint venture with Alibaba; says there was no Mukesh Ambani-Jack Ma meet

Reports had earlier claimed that Mukesh Ambani and Jack Ma had met in Mumbai last month and planned for a joint venture.

Aug 21, 2018

Is China taking over Pakistan? New 'Chinese only' colony in Gawdar port to house 5 lakh people

The proposed city is expected to be constructed by 2022. The strategic colony will house Chinese nationals working in the financial district, which is planned to be set up in the port city of Gwadar

Aug 21, 2018

Indian Railways' operating ratio worsens; it invests Rs 111 to earn every Rs 100

A higher expense ratio indicates the inability of the national carrier to generate a surplus in terms of revenue that could be further used for capital investments such as laying new tracks and deploying more coaches.

Aug 20, 2018

Asset-backed cryptocurrency investment: The inside story

"You have to think of the Blockchain as a new utility. As in, it is a new utility network for moving value and for moving assets" - William Mougayar, author.

Aug 20, 2018

Greek central bank chief warns over backtracking, turbulence post-bailout

Athens is set to exit its latest bailout on August 20 and rely on bond markets thereafter to refinance its debt after a nearly nine-year debt crisis that shrank its economy by a quarter and forced it to implement painful austerity.

Aug 19, 2018

Public sector banks eyeing to clear bad debts; loan recovery put on fast track

PSBs have managed to recover more than Rs 36,500 crore of bad debts and assets during the first quarter of the ongoing fiscal year.

Aug 18, 2018

Record income tax collection in 2017-18, CBDT collects Rs 10.03 lakh crore

I-T department now has a new target of adding 1.25 crore new IT filers for the current fiscal year.

Aug 18, 2018

Indian Railways to propose Rs 44,000-crore third dedicated freight corridor

The project will also be known as East Coast Corridor and is part of the Golden Quadrilateral project.

Aug 18, 2018

India's economic growth highest under UPA regime; hit double digits during 2006-07

The numbers were steady at 9.57 per cent when the base year was at 2004-05 however, it increased slightly when the base year was shifted to 2011-12.

Aug 18, 2018

Arrest warrant issued for former Pakistan President Asif Ali Zardari in money laundering case

The banking court directed the authorities to present Zardari and other suspects before it by September 4.

Aug 17, 2018

Rupee recovers marginally after falling to record low

The rupee recovered to 70.23 after it plunged to 70.32-33 -- the lowest ever mark -- against the greenback on the back of an apparent intervention by the Reserve Bank of India (RBI).

Aug 16, 2018