Economy News

Big Diwali gift: DA raised to 17% for 50 lakh govt employees, 62 lakh pensioners

A hike of 5% in dearness allowance (DA) has been given to 50 lakh central government employees and 62 lakh pensioners.

10 days ago

India slips by 10 places to rank 68 on global competitiveness index

The report, which is now in its 40th year, shows that India is amongst the worst-performing BRICS nations along with Brazil, which was ranked 71st this year.

10 days ago

IMF warns of economic slowdown in 90% of world, India to be hit hard

According to the new head of the 189-nation, the widespread deceleration means that growth this year will fall to its lowest rate since the beginning of the decade.

10 days ago

Markets today: Sensex opens on positive note; Nifty trades at 11,129.85 points

The Nifty was trading at 11,129.85 points on Wednesday morning.

10 days ago

OPEC crude output to average 29.6m barrels a day: EIA

In its October Short-Term Energy Outlook, EIA also forecast that annual average OPEC crude oil production will average 29.8 million b/d in 2019, down by 2.1 million b/d from 2018.

10 days ago

Gold sales likely to decline 50% on Dhanteras due to weakening demand

Gold imports have nosedived due to higher prices and an increase in import duty.

10 days ago

US blacklists 28 Chinese entities amid tense atmosphere; quick trade deal unlikely

The move by the US Commerce Department could deepen divisions between Washington and Beijing at a critical juncture in their 15-month trade war.

11 days ago

HSBC to cut up to 10,000 jobs in drive to reduce costs: Report

HSBC could announce the beginning of the latest cost-cutting drive and job cuts when it reports third-quarter results later this month.

12 days ago

PSU stake sales may be placed for Cabinet nod in Nov-end

BPCL holds the key as the government, with just Rs 12,357 crore sell-off proceeds so far, is far away from the ambitious target of Rs 1.05 lakh crore.

13 days ago

Will RBI cut rates further as market takes hit from fifth successive reduction?

Markets slumped on weak sentiment after RBI cut the repo rate by an expected 25 basis points to 5.15%; the central bank maintains accommodative guidance as it adjusts economic growth estimates for the full year to 6.1% from 6.9%.

14 days ago

Sensex sheds 434 points after RBI policy meeting; rate-sensitive stocks tank

The RBI cut the repo rate by 25 basis points (one basis point is one-hundredth of a per cent) to 5.15% from 5.40% but Sensex and Nifty declined over 1% as growth worries took the centre stage.

15 days ago

RBI cuts repo rate by 25 bps to 5.15%; GDP growth for FY20 adjusted to 6.1%

The lending rates were reduced in a bid to reverse the consumption slowdown and shore-up growth.

15 days ago

GST collection tanks to 19-month low as economy shows no signs of revival

The fall in GST collections in September has been coupled with a significant slowdown in various high-frequency economic indicators.

17 days ago

Anil Ambani takes a leaf from Mukesh Ambani's playbook of leaner businesses

Reliance Infrastructure focuses on reducing its Rs 6,000-crore debt even as group firms' order books swell on government contracts.

18 days ago

Saudi Aramco resumes full oil production at attack-hit facilities

Now the state-owned oil giant is producing more than 9.9 million barrels a day of crude as it fully recovers from the worst-ever attack on its energy infrastructure.

18 days ago