Economy News

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

Greece Debt can't be Written off: Portuguese PM

Passos Coelho pointed out that the alternative to forgiving part of Greece's debt would imply the country exiting the single currency.

Jul 18, 2015

Eurogroup Agrees on ESM Support to Greece

However, doubts about the Greek debt sustainability remain as some believe the bailout deal may not work without "haircuts".

Jul 17, 2015

Greek debt crisis: Violent clashes in Athens ahead of austerity vote

Thousands of anti-austerity protesters in Athens have clashed with police as MPs debate whether to approve an €86 billion Eurozone bailout deal.

Jul 16, 2015

India Exports Plunge for Seventh Straight Month

While Modi aims to accelerate growth to over 8 percent in 2015-16, a global trade slowdown is undermining chances of an export-led recovery

Jul 16, 2015

Greek Parliament Approves Austerity Bill, Reforms to Avert Grexit

The vote, which came just before 2 a.m., was 229-64 with six abstentions.

Jul 16, 2015

China Economy Beats Forecast, Grows at 7% in Second Quarter

Analysts polled by Reuters had forecast GDP in the world's second-largest economy would grow 6.9 percent in April-June

Jul 15, 2015

Greece Misses New Payment Worth 456 Million Euros to IMF

The leaders of euro zone countries reached a bailout agreement for Greece to avoid bankruptcy, provided the Greek government implements harsh austerity measures.

Jul 14, 2015

After Greece, Iran Nuclear Talks Hold Key to Crude Oil Prices

Negotiations between world powers and Iranian diplomats on Tehran's nuclear programme reached 17th day in Vienna.

Jul 13, 2015

Greek bailout deal: What Greece has agreed to in 90 seconds

IBTimes UK explains what Greece has agreed to with Eurozone leaders in a new bailout deal.

Jul 13, 2015

Eurozone Leaders Strike Deal to Bailout Greece for Third Time

The Greek government has to pass the reforms mandated by the eurozone leaders by Wednesday to receive the bailout funds.

Jul 13, 2015

Oil Prices Fall as Iran Nuclear Deal Seems Likely

Iran and six world powers were on the brink of finding a nuclear deal that would bring sanctions relief in exchange for curbs on Tehran's nuclear programme.

Jul 13, 2015

Euro Zone Argues with Greece on Bailout Terms at Emergency Summit

Tsipras said on arrival in Brussels he wanted "another honest compromise" to keep Europe united.

Jul 13, 2015