Economy News

Oil extends gains, Saudi minister sees market balance

The energy minister of Saudi Arabia agreed that the global oil market is heading toward a balance and that prices are starting to settle

Jul 4, 2016

Bullish textile sector poised to get Rs. 5000 crore inflow; 2 million new jobs on the anvil

The apparel industry appears to be buoyed by government's booster package of Rs. 6000 crore approved in June 2016 with possibilities of adding more jobs.

Jul 3, 2016

India's biggest oil refinery to come up on the west coast

The refinery, to be set up by IOC, BPCL and HPCL, would cost $30 billion and may take 5-6 years to complete.

Jul 3, 2016

7th Pay Commission: Govt 'considering' hiking minimum pay after unions threaten strike

The central government unions and employees are demanding the minimum salary be set at Rs. 26,000.

Jul 3, 2016

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India's foreign exchange reserves fell $3 billion during Brexit week

Foreign exchange reserves of India declined $3.02 billion during the Brexit week ended June 24, RBI data shows.

Jul 1, 2016

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India: Factory output growth at 3-month high on new orders, export rebound

Factory output growth in India rose to a three-month high on the back of rise in new domestic and export orders.

Jul 1, 2016

Pakistan nationals stash more money in Swiss Banks than Indians, but Chinese way ahead of both countries

Pakistan's nationals have bucked the global trend by stashing 16 percent more in 2015 with reserves of Rs. 10,362 crore in Swiss Banks.

Jul 1, 2016

Istanbul terror attack worsens the already ailing Turkey tourism industry

Eight deadly attacks in Turkey that have killed about 250 people over the last nine months have also crippled the tourism industry.

Jul 1, 2016

Pacific Alliance finance ministers eye financial integration

The ministers said that among the key goals would be to allow pension funds from the countries in the bloc to be able to make a broader range of investments in each other's economies.

Jul 1, 2016

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Monsoon gains momentum, keeps hopes alive for agriculture, industry

The June to September monsoon rainfall is crucial to Indian agriculture and in turn drives rural demand for consumer goods.

Jun 30, 2016

World Bank to issue $1 billion to ramp up India's solar generation capacity

The driving force behind the investment is Prime Minister Narendra Modi's commitment toward renewable, particularly solar, energy.

Jun 30, 2016

Rakesh Mohan, Subir Gokarn top contenders for RBI chief post

A decision to appoint the governor candidate is expected to be out by July 15 after meeting between the prime minister and the finance minister.

Jun 30, 2016

Singapore's UOB suspends London property loans after Brexit

Singapore's biggest lender, DBS Group Holdings, said it continued to provide financing for property purchases in London but was advising its customers to be cautious.

Jun 30, 2016