Economy News

Read full text of RBI governor Raghuram Rajan's letter to employees here

Evincing a preference for academics, RBI governor Raghuram Rajan has ruled out seeking a second term at the central bank.

Jun 18, 2016

FM Arun Jaitley says Rajan's successor to be announced shortly

In a letter to the central bank staff, Reserve Bank of India chief Raghuram Rajan said he wants to return to academics at Chicago.

Jun 18, 2016

Boeing, Tata JV sets up aerospace manufacturing centre at Hyderabad

The facility, once fully established, will be Boeing's only manufacturing centre building fuselages of AH-64 Apache helicopters.

Jun 18, 2016

2016 Olympics: Rio declares public calamity as financial crisis mounts

Despite the financial emergency the state assures smooth running of the Games.

Jun 18, 2016

Heavy trading predicted around Brexit vote

The June 23 vote could have big implications for the global economy and U.S. stocks.

Jun 18, 2016

Big firms have more at stake as UK braces for Brexit referendum

The UK-based big businesses are preparing with more funds at hand and confidence-instilling statements for what they least want to happen.

Jun 17, 2016

Brazil to exit 34 international organisations to cut costs

Brazil has run up $866 million in arrears with international bodies such as the United Nations due to a fiscal crisis.

Jun 17, 2016

Crude oil rises for first time in seven days

Brent crude futures were up 38 cents, or 0.8 percent, at $47.57 a barrel at 0143 GMT after slumping 3.6 percent in the previous session.

Jun 17, 2016

India's current account deficit shrinks in March quarter as imports fall

In the March quarter, CAD was $300 million as against $700 million at the end of same quarter previous year.

Jun 16, 2016

India's air traffic set to increase by 14%, to push industry growth

The growth is particularly driven by a positive outlook for crude prices, a report by ICICI Securities noted.

Jun 16, 2016

PPF interest rate could fall below 8%: Report

The PPF rate is generally 25 basis points higher than the 10-year benchmark bond yield, currently at around 7.75 percent.

Jun 16, 2016

Modi govt wants to double taxpayer base to 10 crore: Report

PM Narendra Modi was speaking at "Rajasv Gyan Sangam," the annual tax officials' meet in New Delhi on June 16, 2016.

Jun 16, 2016

Fed keeps interest rates unchanged, signals fewer future hikes

The U.S. Federal Reserve signaled it still planned to raise rates twice in 2016.

Jun 16, 2016

RBI governor faces ghosts of rupee's past

Analysts warn the rupee continues to look vulnerable ahead of September, when dollar term deposits that India raised from citizens abroad in 2013 start to mature.

Jun 16, 2016

Cabinet OKs merger of 5 associate banks with SBI

The proposed merger is not expected to create any asset quality problem for parent bank State Bank of India.

Jun 15, 2016