Economy News

Chinese media pooh-poohs Modi's India

In an op-ed, state-run Global Times says "Modi's economic reform has achieved little progress".

Mar 23, 2016

Mumbai airport charges to go up by 7%

The hike is significantly less than what Mumbai International Airport Ltd and the GVK group had demanded.

Mar 23, 2016

Bank credit growth rises sharply in 2016

However, the rise in credit growth gives little comfort with several commodity businesses suffering from low prices and high debt.

Mar 23, 2016

Bharat Petroleum lines up major capital expenditure

The company will spend 40 percent of the total Rs. 10,000 crore on augmenting refining capacity at its Kochi refinery, reported The Economic Times.

Mar 23, 2016

India hopes to sign Farzad B gas field deal with Iran next month

India's Oil Minister said he is "hopeful" a deal on Farzad B could be concluded during his visit to Tehran on April 9-10.

Mar 23, 2016

Vijay Mallya discredited India's private sector: Arun Jaitley

Arun Jaitley was responding to a question on Vijay Mallya's bank loans of about Rs 9,000 crore.

Mar 22, 2016

India's current account deficit falls to 1.3% of GDP in December quarter

The reduction in the current account deficit was primarily on account of lower trade deficit that stood at $34 billion.

Mar 22, 2016

Govt releases new Defence Procurement Policy; defence stocks gain

The new policy will focus on India-made products and fast-track the acquisition process for firms.

Mar 22, 2016

India proposes to widen scope of digital services to impose equalisation levy

An Indian government panel has widened the scope of online services under the proposed 6-8 percent equalisation levy that is bound to hit Google, Facebook and Twitter.

Mar 22, 2016

Crude oil price of Indian basket rises 54% in 2 months

The price was $38.57 per barrel March 18, up from $24.96 per barrel Jan. 18, according to the petroleum ministry.

Mar 21, 2016

Hyderabad Airport seeking 60% increase in tariff rates: Report

The Hyderabad Airport levies the highest user development fee in India, the Economic Times reports.

Mar 21, 2016

Fund managers of foreign MFs may shift to India: Report

The new rules announced by the Indian government for such managers could facilitate such a move, says Economic Times.

Mar 21, 2016

Banks wait and watch post-rate cut on PPF, KVS

Previously, bankers argued they cannot cut retail deposit and lending rates when the small savings schemes offered higher rates.

Mar 20, 2016

Jewellers call off 18-day strike over excise duty

While the excise duty still remains, the government has assured jewellers that excise department officials will not harass them.

Mar 20, 2016

S&P 500 turns positive for 2016 as recession fears fade

Major indexes gained for five weeks in a row and the Dow closed higher every day this week.

Mar 20, 2016