Economy News

IFC Bill: Scrapping RBI's Independence Detrimental to India's Growth Prospects, Say Analysts

Moody's says IFC bill is unlikely to get Parliament's nod.

Jul 30, 2015

Modi Govt May Fail to Pass Key Reform Bills This Year or Even 2016: Moody's

Passing of the land acquisition bill is crucial for the economy, as it expected to boost the investment in the country.

Jul 30, 2015

7th pay panel may hike govt employees salaries, says analyst

The Pay Commission is scheduled to submit its recommendations in October.

Jul 29, 2015

China Can Become Key Cause for Next Global Recession: Morgan Stanley

The debt situation of local governments in China is also of huge concern to the country's economy.

Jul 29, 2015

61,000 High Net-Worth Indians Left Country in Past 14 Years; Security, Taxation Remain Top Reasons

China remained at first spot, with as many as 91,000 such individuals leaving the country to settle abroad.

Jul 28, 2015

Russian President Putin Cuts 110,000 Jobs to Save Economy

Putin himself had cut his salary by 10% in March.

Jul 25, 2015

Greece Requests IMF for New Loan Facility

The Greek Finance Ministry said earlier on Friday that Greece had formally submitted a request to the IMF for the new loan facility.

Jul 25, 2015

Indian Financial Code: Centre Wants RBI Governor's Veto Power in Deciding Interest Rates Scrapped

The proposal hints at the widening rift between the government and the RBI governor.

Jul 24, 2015

'Specific, Concrete' Europe Commitment Needed to Relieve Greek Debt: IMF spokesman Gerry Rice

The goal of all parties is to stabilise Greece's economy so that it can once again achieve sustainable growth, Rice told reporters.

Jul 24, 2015

RBI Governor Raghuram Rajan Likely to Keep Key Rates Unchanged in 4 August Policy Meeting: Morgan Stanley

The investment banker expects the central bank to cut key lending rates by about 50-75 bps by March 2016.

Jul 23, 2015

Greece Passes Second Bailout Bill Focused on Failed Banks and Justice System

A first set of reforms that focused largely on tax hikes and budget discipline

Jul 23, 2015

Greece Starts Repaying Some Debts as Banks Reopen

Customers queued up as bank branches opened for the first time in three weeks on Monday after they were closed to save the system from collapsing under a flood of withdrawals.

Jul 21, 2015

BRICS Bank Opens for Business in Shanghai

The new bank will fund infrastructure and development projects in BRICS countries - Brazil, Russia, India, China and South Africa.

Jul 21, 2015

Ripe economy: Meet the Russian farmers benefiting from the ban on western produce

Russias ban on EU produce has been a boon for the countrys farmers

Jul 20, 2015

Greek Banks to Open on Monday; Merkel Urges Swift Bailout Talks

Greeks will be able to withdraw 420 euros a week at once instead of just 60 euros a day, but the limit will effectively remain the same and capital controls will also stay in place.

Jul 20, 2015