Economy News

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

Greek Banks to Re-open Monday as Tsipras Eyes New Start

The decree to re-open the banks came hours after new ministers were sworn in following a cabinet reshuffle.

Jul 19, 2015

PC Sales Fall for the First Time; Decline 10% in FY15, Set to Drop Further in FY16

In sharp contrast, smartphone sales rose 33% in 2014-15 to 69.6 million units from 52.43 million units in 2013-14.

Jul 18, 2015

Karnataka Unveils New Tourism Policy

The concessions encompass rebates, exemption of applicable taxes, charges, duties and others.

Jul 18, 2015

Iran Ready to Welcome Indians, Even without Bidding Process: Iranian Envoy to India

Gholamreza Ansari also said that Iranian President Hassan Rouhani wants India to invest about $8 billion in the country's infrastructure projects.

Jul 18, 2015