Economy News

Real Estate Act, to safeguard interests of consumers, comes into effect from Sunday

The central and state governments have been given a a deadline of six months to formulate the rules under the Real Estate Act.

May 1, 2016

China April official factory activity expands, but at slower pace

The official Purchasing Managers' Index (PMI) rose to a less-than-expected 50.1 in April.

May 1, 2016

India Inc. raised $4.27 billion in external commercial borrowings during March quarter

The amount raised under the automatic route was $3.73 billion, while the rest was via the approval route, according to RBI data.

Apr 30, 2016

Yen posts biggest weekly gain since 2008, stocks slip

The yen hit an 18-month high on Friday as investors bet the Bank of Japan might be done adding stimulus to the economy.

Apr 30, 2016

Maharashtra is the biggest contributor to income tax collections in India

The Indian government on Friday released income tax data for the past 16 years pertaining to collection and assessment.

Apr 29, 2016

India agricultural growth likely to double in FY17, says analyst

India's agricultural sector, which accounts for about 17 percent of the country's GDP, is expected to grow at 1.6 percent this fiscal.

Apr 29, 2016

Sri Lankan government looking for partners to run loss-making national carrier SriLankan Airlines

The effort is part of a broader effort to restructure SriLankan Airlines and includes cancellation of order for four aircraft.

Apr 28, 2016

Water ATMs soon in New Delhi

New Delhi Municipal Council — one of the three local bodies of the NCT of Delhi — has invited tenders for installing water ATMs on PPP basis.

Apr 28, 2016

Foreign tourist arrivals slowed down in 'God's Own Country,' reveals Kerala Tourism data

Foreign tourist arrivals to Kerala grew 5.86 percent in 2015, down from 7.60 percent in 2014, according to Kerala Tourism.

Apr 28, 2016

India could end up as importer of sugar for the first time in four years

India, the second-largest sugar producer in the world, could see output falling due to drought in Maharashtra.

Apr 27, 2016

J&K minister orders closure of a state corporation formed to facilitate employment for the youth

"It makes no sense to have an organisation doing absolutely nothing," said Jammu & Kashmir Minister for Finance Haseeb Drabu.

Apr 26, 2016

Saudi prince unveils sweeping plans to end 'addiction' to oil

Saudi Arabia expects state oil company Saudi Aramco to be valued at more than $2 trillion ahead of the sale of it through an IPO.

Apr 26, 2016

France wins $40 billion Australian submarine contract: Reuters sources

France's state-controlled naval contractor DCNS has proposed a diesel-electric version of its 5,000-tonne Barracuda nuclear-powered submarine.

Apr 26, 2016

Essar Oil, Indian Oil, HPCL, BPCL expanded fuel retail network, Reliance added none in FY16

Essar Oil, Indian Oil, HPCL and BPCL together added 2,770 retail diesel, petrol stations in FY2016. Reliance Industries' network remained unchanged at 1,400 outlets.

Apr 25, 2016

PF deposits to fetch 8.7% interest, lower than 8.8% proposed by EPFO

The government approved 8.7 percent interest on PF deposits for FY2016, lower from the 8.8 percent proposed by the EPFO.

Apr 25, 2016