Economy News

Global corruption costs trillions in bribes, lost growth: IMF

IMF said that tackling corruption is critical for the achievement of macro-economic stability.

May 12, 2016

Britain's exit from EU could create opportunities for India: Report

For India, negotiating with Britain will become easier as it would not have to abide by the free trade agreement.

May 12, 2016

China eyes $724 billion of transport investment over next 3 years

The investment splurge underlines China's reliance on high-levels of public sector spending.

May 12, 2016

Rakesh Jhunjhunwala resents 'son-in-law' treatment to FIIs: Report

Rakesh Jhunjhunwala, partner of Rare Enterprises, dismisses fears of FIIs pulling out of Indian markets due to the DTAA with Mauritius.

May 11, 2016

Drought to dent Indian economy by $100 billion: Assocham

Around 33 crore people across 256 districts across the country are currently facing water shortage.

May 11, 2016

India to tax Mauritius investments for first time since 1983

The tax will apply to investments made from April 1, 2017, and will be imposed at 50 percent of the domestic rate.

May 11, 2016

Banks uncertain about further negotiations with Mallya

Bankers want Mallya to disclose his assets under oath since they are unsure about the reliability of the offer made, the Economic Times reported.

May 11, 2016

"We should kick out the RBI governor:" BJP's Subramanian Swamy on Raghuram Rajan

BJP Rajya Sabha MP Subramanian Swamy slammed RBI Governor Raghuram Rajan for his interest rate (repo rate) policy.

May 10, 2016

Indirect tax evasion, undisclosed income worth Rs. 71,000 crore detected

The Indian government attributed the detection of tax evasion and undisclosed income to "enhanced enforcement measures."

May 10, 2016

7th Pay Commission: Government employees may get higher salary than proposed by panel: Report

Central government employees could get a minimum monthly salary of Rs. 24,000 as against Rs.18,000 proposed by the 7th Pay Commission.

May 10, 2016

Saudi Aramco plans global expansion amid falling crude oil prices

The move is aimed at meeting global oil demand, notwithstanding challenging market conditions, state-run Saudi Aramco said.

May 10, 2016

Education sector in India offers huge business opportunities, says rating agency Ind-Ra

The share of private schools in India increased between 2009 and 2015, says Ind-Ra in a report.

May 10, 2016

Industrial lending at a seven year low: Report

Dwindling industrial lending meant the banks have turned to issuing loans for personal credit, over half of which are housing loans.

May 10, 2016

Government ports posted increase in operating surplus for FY16

The operating surplus of 12 state-run, major ports rose 19 percent to Rs. 4,268 crore in 2015-16, said a Modi government minister on Monday.

May 10, 2016

Developing countries' renewables markets more attractive: Report

Mexico's recent power auctions have opened the door to multi-billion dollar opportunities in a newly liberalised energy market, the report said.

May 10, 2016