Economy News

Swiggy latest to join unicorn club, raises $ 210 million from DST Global, Naspers

Swiggy is leading the food delivery market in India with around 11 million monthly orders followed by Zomato at about 7 million monthly orders across India and UAE

Jun 22, 2018

Indian Banks' Association denounces series of chargesheets and arrests of bankers; cries foul play

Bank of Maharashtra CEO Ravindra Marathe, executive director Rajendra Gupta and former CEO Sushil Muhnot and two bank officials have been arrested by Maharashtra Police's Pune Economic Offences Wing.

Jun 22, 2018

As countermeasure, India hikes import duty on 29 US products

A Finance Ministry notification said the duty hike would come into effect immediately for 28 products, while for the marine product artemia the increased duty would be effective from August 4.

Jun 21, 2018

Bullet Train project faces another hurdle as farmers protest in Surat

The project is expected to acquire around 850 hectares of land across the districts of Ahmedabad, Kheda, Anand, Vadodara, Bharuch, Surat, Navsari and Valsad, affecting around 5,000 families.

Jun 20, 2018

China vows to hit back as Trump plans $200 billion additional tariffs on Chinese imports

The developments suggest an intensifying trade dispute that the International Monetary Fund fears would be one of the biggest risks to global growth.

Jun 19, 2018

Chanda Kochhar asked to go on leave until completion of internal inquiry

ICICI Bank's Board has, at its meeting on Monday, decided to appoint Sandeep Bakhshi as the lender's whole time director and chief operating officer (COO).

Jun 19, 2018

DBT savings could touch Rs 40,000 crore in current Financial Year

Total savings since the inception of Direct Benefit of Transfer in 2013 to cross Rs1.25 lakh cr.

Jun 18, 2018

India set to impose $240 mn retaliatory tariffs on imports from US

India has submitted a revised list of 30 US imports, including apples, almonds, phosphoric acid and Harley-Davidson motorcycles, to the WTO on which it intends to impose retaliatory tariffs

Jun 17, 2018

FII inflow to drop as US Federal Reserve hikes interest rate

The Indian market has experienced a volatile period in terms of FII investments since the beginning of the year. While the 25 bps hike by the US Federal Reserve was not really a surprise, it is definitely affecting the Indian economy.

Jun 15, 2018

US Federal Reserve raises rates amid stronger inflation

Fed Chairman Jerome Powell said that "the economy is doing very well".

Jun 14, 2018

Tesla sends home 9% workers as Elon Musk chases elusive profits

The measure means that some 4,100 of the firm's 46,000 employees will lose their jobs. The layoffs will not affect operations at the factory producing the Model 3.

Jun 13, 2018

Slowing gasoline price rises keep US inflation in check

US consumer prices rose marginally in May amid a slowdown in increases in the cost of gasoline and the underlying trend continued to suggest moderate inflation in the economy.

Jun 13, 2018

IMF Chief warns of 'darker economy' over US trade policies

Christine Lagarde attacks US president Donald Trump's trade policies, warns that escalating trade war could lead to the global economy getting darker.

Jun 12, 2018

Not received any communication from US' SEC on Kochhar: ICICI Bank

Earlier, the Securities and Exchange Board of India (Sebi) had sought responses from the company and Kochhar on alleged non-compliance of the "erstwhile 'Listing Agreement' and the 'Listing Obligations and Disclosure Requirements) Regulations, 2015'".

Jun 12, 2018

Explainer: Brexit and the Irish backstop riddle

Efforts to avoid a "hard border" in Ireland can seem baffling but as British Prime Minister Theresa May battles parliament over Brexit, the issue is central to understanding how her demands to the European Union may change.

Jun 11, 2018