Economy News

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

U.S. oil falls to three-week low on inventory gains, Brexit fears

The impending vote on the so-called Brexit is dominating everything from currency markets to German Bunds.

Jun 15, 2016

Political consensus on GST rate remains elusive

While a government panel has suggested 17 to 18 percent GST rate, states have decried it as a revenue-losing proposition.

Jun 14, 2016

Inflation poised to rise further, pinning hopes on monsoon misplaced: Analysts

Retail inflation at record high in May and dragging factory output in April do not augur well for the economy and market sentiments, analysts noted.

Jun 14, 2016

Asian shares slip as Fed, Brexit loom

Voters appear divided ahead of the June 23 referendum, with the "Out" campaign widening its lead over the "In" camp, according to two opinion polls published by ICM.

Jun 14, 2016

India's May retail inflation hits near 2-year high on surging food prices

Retail inflation for the month of May stood at 5.76 percent mainly on account of double-digit increases in food prices.

Jun 13, 2016

7th Pay Commission: Govt employees may get 30% more than recommended by panel

The panel formed to oversee implementations of the 7th CPC proposals is expected to meet on Monday or Tuesday.

Jun 13, 2016

Oil prices fall back below $50 as economic concerns rise

ANZ bank said that oil was being pulled down by a sharp reduction in risk appetite and a "U.S.-dollar and treasuries rally".

Jun 13, 2016

British PM says NHS, pensions could face cuts post Brexit

Cameron warned that annual pension increases, free television licences and bus passes could all be cut to make up for a "black hole" in the public finances.

Jun 12, 2016

Air ticket cancellation, refunds, compensation set to become passenger-friendly

Passengers can look forward to quicker refunds, higher refund amount and better compensation when boarding is denied.

Jun 11, 2016

India on course to become world's first trillion-dollar bull market in 2016

India's better fundamentals, above average monsoons and GDP growth rates is expected to outweigh any concern of market over valuation, Bloomberg reported.

Jun 11, 2016

Oil price plunge leaves Omani doctors without salaries

The Gulf nation's budget allocation for its healthcare was $346 million this year, down from $426 in 2015, reported the Gulfnews.

Jun 11, 2016

India's factory output contracts 0.8% in April

Manufacturing remained as the biggest drag with a 3.1 percent contraction in the month.

Jun 10, 2016

Monsoon, government spending to revive weak cement demand

The demand is currently subdued on account of water shortage, severe heat wave and slackness in rural areas, says a brokerage firm.

Jun 10, 2016