Economy News

Saudi Arabia launches 'Saudization' plan to tackle unemployment; cellphone industry to have 100% local employees

The kingdom launched the nationalisation plan Tuesday with the aim to achieve total or partial "Saudization" in the private sector.

Mar 9, 2016

Indian Railways hires E&Y to generate ad revenue worth Rs 5,000 crore

The latest move comes after the railway minister announced during the rail budget that non-tariff earnings would be raised instead of hiking ticket prices.

Mar 9, 2016

Food courts, dispensaries and car servicing centres on highways likely: Report

Under the CSR initiative, the Ministry of Road Transport and Highways will write to companies to provide basic amenities on highways.

Mar 8, 2016

Proposed tax on EPF withdrawal rolled back; finance minister considers review

The proposal to tax withdrawal of EPF after retirement had drawn serious opposition from the salaried class.

Mar 8, 2016

2 major port projects worth Rs 15,000 crore likely to get cabinet approval: Report

The two ports have an initial investment of Rs 15,000 crore, ET reports.

Mar 8, 2016

Puma, Adidas apply for govt approval to have e-commerce portal

Long-existing foreign single-brands in India want to unify their operations in tune with the recent policy changes.

Mar 7, 2016

Court freezes Vijay Mallya's Diageo deal amount; fresh money laundering case registered against former chief of United Spirits

He and his group reportedly owe about Rs 7,800 crore primarily to Indian public sector banks.

Mar 7, 2016

Equity mutual fund inflows plunge to 21-month low in February: Report

At Rs 2,522 crore, February witnessed the third straight month when equity mutual fund investments dropped on account of falling stock markets.

Mar 7, 2016

SBI among 4 foreign banks granted approval to start branches in Myanmar

The four banks have been granted preliminary approval for a period of 12 months.

Mar 7, 2016

Nabard debuts with Rs 3,500-crore tax-free bond

The rural-economy-oriented development bank wants to utilise the proceeds for medium and minor irrigation projects.

Mar 7, 2016

Oil rises as traders close short positions, US producers cut rig count

U.S. energy firms last week cut oil rigs for an 11th week in a row to the lowest level since December 2009.

Mar 7, 2016

Karnataka govt's likely ticket price capping may bring revenues for multiplexes

The state government may propose fixing the maximum price of a movie ticket as Rs 120 in the budget.

Mar 6, 2016

India to study mergers of state-run banks in efficiency push

State-run lenders hold more than two-thirds of assets in India's banking sector.

Mar 6, 2016

China says cuts in overcapacity won't cause massive layoffs

Xu Shaoshi, head of NDRC told reporters at a briefing that economic growth will create more jobs.

Mar 6, 2016

RBI unlikely to cut policy rates before April: Reuters poll

In 2015, the RBI had surprised the markets by announcing a 25 basis points cut in repo rate, just a few days after the presentation of budget.

Mar 5, 2016