Economy News

Banks wait and watch post-rate cut on PPF, KVS

Previously, bankers argued they cannot cut retail deposit and lending rates when the small savings schemes offered higher rates.

Mar 20, 2016

Jewellers call off 18-day strike over excise duty

While the excise duty still remains, the government has assured jewellers that excise department officials will not harass them.

Mar 20, 2016

S&P 500 turns positive for 2016 as recession fears fade

Major indexes gained for five weeks in a row and the Dow closed higher every day this week.

Mar 20, 2016

Dollar bounces but down for third straight week

A weaker dollar benefits emerging market currencies, increasing those countries' profits from exports.

Mar 20, 2016

Insurance sector now open to 49% FDI via automatic route

The move to allow foreign direct investment under the automatic route will help attract more overseas companies to buy stake in domestic insurers.

Mar 19, 2016

Government slashes interest rates for small saving schemes

The government also lowered the rate on a federal pension fund known as the public provident fund (PPF) to 8.1 percent from 8.7 percent.

Mar 19, 2016

Richard Branson brands Brexit would decision Britain could make

British billionaire businessman Richard Branson warned that leaving the European Union would be the worst decision that the British public have ever made. The Virgin Group founder made the comments at the launch of the companys new train in London.

Mar 18, 2016

Bangalore Metro Namma Metro Bangalore infra

Liquor, petrol, diesel, aerated drinks to cost more in Karnataka

Karnataka CM Siddaramaiah, who also holds the finance portfolio, proposed to raise taxes on these items while presenting the budget for 2016-17 Friday.

Mar 18, 2016

India's forex reserves rose for second straight week

India's foreign exchange reserves increased $2.54 billion in the week ended March 11, according to the Reserve Bank of India.

Mar 18, 2016

Foreign tourist arrivals in India rose 11% in February

Foreign tourist arrivals grew 11.43 percent to 8.47 lakh from 7.61 lakh visitors in February 2015.

Mar 18, 2016

Indian Oil Corporation Petrol prices petrol price hike IOC

Additional excise duty on petrol, diesel deprived consumers of Rs 90,000 cr in savings

These savings could have provided additional demand in the economy to the extent of 1% of GDP, according to a State Bank Ecowrap note.

Mar 18, 2016

Wilful defaulters owe lender banks Rs 60,000 crore: Report

A willful defaulter is a borrower who indulges in deliberate non-payment of dues despite adequate cash flow and good net worth.

Mar 18, 2016

Morgan Stanley world GDP world economy global economy

Risk of world economy slipping into recession increasing: Morgan Stanley

The US financial services firm also cut the global growth forecast for 2016 to three percent from the earlier 3.3 percent.

Mar 17, 2016

Hyundai Motor Car sales vehicle production car exports

India's automobile production likely to remain flat in FY16

The country's automobile production for the 11-month period ended February 2016 grew 1.67 percent over the same period a year ago.

Mar 17, 2016

John McDonnell: George Osbornes failed on economic targets and lost credibility

Britains opposition finance minister accused the Chancellor of the Exchequer of creative accountancy on 16 March, after George Osborne said he would miss his own target of bringing down public debt this year, but can still turn the deficit into a surplus by 2020.

Mar 17, 2016