Economy News

Iran Calls on Saudi Arabia to Control OPEC Oil Supply; Prices Could Tumble to $30?

As oil prices fell to new six-year lows last week, Iran called on OPEC leader Saudi Arabia to take a stance on the global oil glut that has been plaguing the markets.

Jan 2, 2015

Manufacturing PMI Zooms to Two-Year High Of 54.5 in December

Expectations run high on government reforms and RBI rate cut.

Jan 2, 2015

Reforms Push Gets Boost in 2015, Says Jaitley

Reforms introduced will realise GDP expansion, said Jaitley, with projections at 5.5% for FY 2014/15.

Jan 1, 2015

US Federal Reserve Tool Recommends Immediate Rate Hike

A tool developed by the US Federal reserve to forecast financial actions and decisions reportedly calls for an immediate interest rate hike, according to a paper published by Philadelphia Fed president Charles Plosser.

Jan 1, 2015

will-do-our-best-to-bring-indian-economy-back-on-track-arun-jaitley

India's Fiscal Deficit Zooms as Revenue Realisation Falters

A cut in non-plan expenditure and more disinvestment could help rein in the deficit

Jan 1, 2015

Infrastructure Growth Rises to 5-Month High of 6.7% in November

The core sector of India's infrastructure platform, accounting for 38% of its total output, grew by a five-month high at 6.7%.

Jan 1, 2015

A farm worker next to the Tata Motor's mothballed plant in West Bengal

Modi's Land Acquisition Reforms are Industry-Friendly but Farmers Feel Ripped Off

The ambitious agenda belies complex and worrisome socio-economic issues.

Dec 30, 2014

Brent Crude Prices Fall to Five-Year Lows at $57 Despite Libyan Output Disruption

Brent Crude prices slid to a new five-year low hovering at $57 on Tuesday even though output disruptions in Libya put a temporary hold on the global supply glut.

Dec 30, 2014

No Pressure on RBI To Cut Rates, Insists Jaitley

The finance minister has denied pressurizing the RBI Governor to cut rates, after his reference to 'high cost of capital' sent the markets soaring in the expectation of a rate cut.

Dec 29, 2014

Commerce and Industry Minister Nirmala Sitharaman on the right

FDI rises 25% in April to October to $17.35 bn, Says Nirmala Sitharaman

The nation has witnessed foreign direct investment raise by 25%

Dec 29, 2014

Vijay Mallya's Kingfisher Airlines Set to Lose Flying Licence on 31 December

Mallya is all set to be slapped with a wilful defaulter tag by UBI, after the Calcutta High Court rejected the bank's action on technical grounds; also Kingfisher Airlines would see its Air Operator Permit expiring on 31 December. ₹

Dec 29, 2014

RBI Governor Raghuram Rajan Questions Govt's Farm Debt Waiver Schemes

Rajan said that studies show such measures to be ineffective, adding that debt waivers effectively dry up formal credit facilities post waiver to the farmers.

Dec 27, 2014

US-Russia Trade Improves Despite Sanctions

Trade between the United States and Russia spiked by 7 percent despite the economic sanctions levied by the U.S. on the country, President Vladimir Putin said.

Dec 27, 2014