Economy News

India's foreign exchange kitty buoys to $352 billion

The reserves had dwindled by $1.90 billion to $351.73 billion for the week ended 6 November.

Nov 21, 2015

India looks to double coal output by 2020

For some this is the sound of progress. The coal mining industry is booming in India where a new mine is opened every month. In their push to compete on the global stage, Asian countries like India are increasingly looking to coal to power their economies and feed their growing energy demands. Officials in Indias coal ministry said despite a push for renewable energy sources, coal will continue to win out.

Nov 21, 2015

Foreign investors meet Rahul Gandhi to know GOP's stand on reforms

The meeting was aimed at getting a 'first-hand view' of the Congress party's stand, according to one of the investors.

Nov 21, 2015

Asean-Business and Investment Summit: Come, invest in India's growth, says Modi

He outlined a host of steps that have been taken to make his country an investment friendly destination,

Nov 21, 2015

Saudi Arabia will face crisis in 3-5 years if oil prices stay low: Investors

Investors predicted a broadly stronger dollar in 2016.

Nov 21, 2015

Indian economy performing well on all fronts, says PM Modi

Modi said that FDI flows have gone up across many key sectors.

Nov 21, 2015

ECB to act quickly to stop inflation from falling in Euro Zone

Mario Draghi highlighted changes to the ECB's asset purchase program and deposit rate as tools to stop inflation from falling further.

Nov 21, 2015

ECB willing to act fast on rates and raise inflation as quickly as possible

The European Central Bank is ready to act quickly to boost anaemic inflation in the euro zone, its president Mario Draghi said on Friday (20 November), highlighting changes to its asset purchase programme and deposit rate as possible tools. Draghis comments offered the strongest hint yet that the ECB will unveil fresh stimulus measures at its 3 December meeting to stop inflation from falling further below its target of just under 2 percent.

Nov 20, 2015

Nepal tightens controls on Indian rupee exchange as black market expands

The move is aimed to check the misuse of Indian currency as many traders were hoarding it.

Nov 20, 2015

World shares advance even as commodity prices plunge

Copper hovered at its lowest level since 2009 and nickel since 2003.

Nov 20, 2015

State finance ministers seek simplicity in GST at meeting

The GST, when implemented, would unify Asia's third-largest economy into a single market,

Nov 20, 2015

Pay hikes a risk factor for India's fiscal consolidation, warns Fitch Ratings

The pay hike could challenge the government's goal of achieving a fiscal deficit of 3.5% by March 2017.

Nov 20, 2015

Drop in public, private investments holding economy back: Raghuram Rajan

The RBI has cut its growth forecast for the current fiscal year to 7.4% from 7.6% previously.

Nov 20, 2015

'Face with tears of joy' emoji most popular on Twitter: Study

About 86% of emoji users are aged 24 or younger, with about 50% in the 18-24 age group.

Nov 20, 2015

Investors will need RBI nod to buy 5% shares in private sector banks

The buyer has to give an annual declaration to the lender that it remains a "fit and proper" investor.

Nov 20, 2015