Economy News

Heavy job cuts in telecom sectors; Reliance Jio comes to rescue

According to an estimate by Randstad India, telecom companies are likely to churn out around 50,000-75,000 employees in 2018. Additionally, other firms are estimating this number higher at around 90,000.

Sep 24, 2018

Revival of 45 bankrupt companies will recover more than Rs 50,000 crore: IBBI chairperson

About 1,100 companies have been admitted to the Corporate Insolvency Resolution Process (CIRP) since the implementation of the Insolvency and Bankruptcy Code (IBC) in 2016.

Sep 24, 2018

Petrol price crosses Rs 90 per litre mark in Mumbai as fuel rates soar across country

The highest petrol prices logged in various cities included: Nanded Rs 91.61, Amravati Rs 91.31, Ratnagiri Rs 91.14 and Jalgaon Rs 91.01.

Sep 24, 2018

Trump's trade war with China escalates after US slaps new 10% tariffs on $250 bn of Chinese goods

Beijing has rejected the US assertions, accusing Washington of protectionism and bullying. It has fired back with tariffs on American goods worth more than $110 billion.

Sep 24, 2018

Govt to ensure liquidity in non-banking financial companies, says finance minister Jaitley

The Reserve Bank of India (RBI) and market regulator Sebi said on Sunday that they were closely monitoring the developments in the financial sector and were ready to take "appropriate actions" to calm the jittery investors.

Sep 24, 2018

Hike in oil prices? OPEC struggles to keep up production amid Trump's Iran sanctions

The output numbers for the month of August is likely to add more pressure on the oil-producing countries amid US President Donald Trump calling them to lower the oil prices.

Sep 23, 2018

Amid spiraling fuel rates, petrol prices rise to Rs 89.97 in Mumbai

The prices of diesel also continued to scale new highs on Sunday under India's dynamic pricing regime, after remaining unchanged for four successive days.

Sep 23, 2018

New IRDAI rules stipulate Rs 15 lakh protection in motor accidents

The insurance agencies have been given time till October 25 to file the products.

Sep 22, 2018

Fitch upgrades India's growth forecast for FY19 to 7.8%

An upswing in manufacturing activity and revival of private investment, supported by strong consumer demand, accelerated India's GDP growth rate in the first quarter of 2018-19 to 8.2 per cent, official data showed last month.

Sep 22, 2018

Amid trade war, Trump admin slaps Chinese military with sanctions for Russian fighter jets, missiles deal

The sanctions are related to China's purchase of 10 SU-35 combat aircraft in 2017 and S-400 surface-to-air missile system-related equipment in 2018, the State Department said.

Sep 21, 2018

Jet Airways to end free meal service for economy class passenger from September 25

The move comes two years after the airline introduced 'Fare Choices', a flexible, tier-based, fare-choice system that helped flyers customise their travel needs by choosing their preferred fare.

Sep 20, 2018

Govt appoints 10 public sector bank chiefs

SBI Deputy MD Pallav Mohapatra has been appointed as MD and CEO of Central Bank of India.

Sep 20, 2018

Mega bank merger infuses job loss fears

It seems mere verbal assurance from the Union Finance Minister does not seem to have pacified the employees, particularly at the lower level.

Sep 19, 2018

Bengaluru pips Singapore as top destination for tech companies, startups in Asia

The IT capital of India is said to be the fastest-growing city in Asia in the next five to 10 years offering a deep talent pool, according to the report by Colliers International.

Sep 19, 2018

Delhi HC rejects plea to disclose formula behind fuel pricing

A bench of Chief Justice Rajendra Menon and Justice V. Kameswar Rao refused to interfere with the government policy on fixing petrol prices.

Sep 19, 2018