Economy News

China ranked first in the world for online retail trade

Internet has been the biggest boon to China, contributing 7% GDP to the country's economy.

Dec 17, 2015

What analysts say about future US Fed rate hike path

Shrugging off the possible negative impact, most of the global markets rallied after the US Fed rate hike.

Dec 17, 2015

Fed liftoff: Janet Yellen says not to ‘overblow’ recent rate hike

US Federal Reserve Chairman Janet Yellen cautioned Americans not to overblow the Federal Reserves move 16 December to raise US interest rates a quarter of a point, saying the hike reflects the Federal Reserves confidence in the US economy.

Dec 17, 2015

Make in India: Modi govt throws open defence labs, facilities to private sector

This is the boldest move by the NDA government to indigenise defence production.

Dec 17, 2015

Several scenarios projected as to when the oil slump might end

The US is still pumping near-record volumes of crude, while OPEC is keeping output at all-time highs to maintain market share.

Dec 17, 2015

US Fed hikes interest rates after almost a decade by quarter of a percentage point

It signals faith that the U.S. economy had largely overcome the wounds of the 2007-2009 financial crisis.

Dec 17, 2015

SC ban on diesel vehicles: Siam says verdict 'most unfortunate'

Siam also said the auto industry is being singled out because it is a "soft target".

Dec 16, 2015

Ban on diesel SUVs inappropriate: Car dealers

They said the decision will lead to huge job cuts at auto companies.

Dec 16, 2015

Four names from India in Swiss list of unclaimed bank accounts

The list of 2,600 names having dormant accounts have been published for the first time.

Dec 16, 2015

Arun Jaitley says ready to consider scrapping 1% manufacturing tax, hints at lower-than-18% GST rate

The 1% tax has been sought by states such as Gujarat and Tamil Nadu.

Dec 16, 2015

European nations get ready to review economic sanctions against Russia

Italy wants a debate on the sanctions as it has significant economic ties with Russia.

Dec 16, 2015

US Fed interest rate hike won't upset Modi government's crude oil math

The PPAC estimates India's oil import bill to be $73,286 million this fiscal, down 34.99% from $112,744 million in 2014-15.

Dec 16, 2015

Excise duty hiked on petrol, diesel to fetch Rs.2,500 crore

Basic excise on unbranded petrol has been increased from Rs.7.06 per litre to Rs.7.36

Dec 16, 2015

MasterCard, Visa want level playing field with RuPay in PM's Jan Dhan Yojana

Both companies see 'invisible mandate' behind choosing RuPay as card issuer for scheme.

Dec 16, 2015

SC ban on diesel vehicles: XUV 500, Scorpio, Sonata, Camry, Fortuner sales to be hit

Delhi is a major market for sale of diesel cars

Dec 16, 2015