Economy News

29 feared dead in fire on Azerbaijani firm's oil platform in Caspian Sea

SOCAR said one worker had been killed and 33 rescued, out of the 62 who were on the oil rig.

Dec 6, 2015

India may ban imports of 24-carat gold jewellery to avoid misuse of Asia FTAs

The import duty on the metal was raised to 10 percent in 2013 to curb demand.

Dec 6, 2015

Bank of England approves capital calculation models of 19 insurers

Insurers use their internal models to determine how much capital they hold to meet policyholder commitments.

Dec 6, 2015

Cash surpluses melt away for once mighty oil exporters in the Gulf

Emerging economies are seeing steady balance of payments.

Dec 6, 2015

New runway for Heathrow airport may be approved by British PM Cameron soon

There is a revised 23 billion-pound ($35 billion) plan to give Heathrow a third runway.

Dec 6, 2015

India needs to create energy efficient buildings, says expert

New technologies will help India double its building stock in 10 to 15 years.

Dec 6, 2015

SBI to pursue a more aggressive strategy to beat competition

The country's largest bank plans to step up its aggressiveness as competition will "hot up".

Dec 6, 2015

Manmohan, Rahul slam Modi govt on economy; 'recovery fragile' they say

He accused the government of trying to reduce secure industrial jobs in favour of contract labour.

Dec 6, 2015

British MP makes serious bid to save Tata Steel jobs in Yorkshire

Tata Steel from firing 720 workers from its Yorkshire plant.

Dec 6, 2015

Turkey to find alternative energy suppliers: President Erdogan

Turkey imports 98 percent of its natural gas from Russia and Iran.

Dec 6, 2015

Chennai floods: December car sales, Q3 GDP to take a hit

Ford, Hyundai, Renault have been forced to suspend operations at their plants near Chennai.

Dec 5, 2015

Seventh Pay Commission can be 'potential game changer' for struggling real estate sector

Employees getting an increase of Rs 24,000 in monthly salary are likely to play a key role in pushing up the housing demand.

Dec 5, 2015

GST panel hands in suggestions; moots 17 to 18 percent revenue neutral rate

The revenue-neutral rate is the rate at which there will be no loss to both state and central governments.

Dec 4, 2015

$60 billion in aid pledged by China to African nations during Xi Jinping's visit

Chinese President Xi Jinping is co-chairing the Forum on China-Africa Cooperation.

Dec 4, 2015

Modi govt looks to rich temples to boost gold deposit scheme

So far, the scheme has garnered about 1 kilogram of gold.

Dec 4, 2015