Economy News

State Banks to Seek Market Funds on Modi Growth Hopes

State banks plan to tap capital markets for billions of dollars after a new government takes office, executives and bankers say, betting on a revival in credit demand and giving them a chance to shore up battered balance sheets.

May 16, 2014

Rupee Hits Near 10-month High, Biggest Gain in Three Weeks

The rupee strengthened to its highest level in about 10 months on Thursday, while also posting its biggest single-day gain in nearly three weeks on the back of sustained dollar inflows into domestic shares ahead of election results.

May 15, 2014

Japan Q1 Growth Fastest in more than 2 years Before Tax Hike

Japan's economy grew in the January-March quarter at the fastest pace in more than two years as consumers rushed to spend before a sales-tax hike and business investment rose in a sign of confidence in the prospects for future growth.

May 15, 2014

Asian Shares Tread Water, Bonds Supported

Asian shares pared early losses on Thursday but held below the previous session's one-month highs, while expectations of credit easing by the European Central Bank knocked yields on U.S. and European bonds.

May 15, 2014

Asian Shares Edge up, Euro Pressured

Asian shares inched up on Wednesday, while the euro wobbled close to five-week lows on heightened speculation of more European Central Bank stimulus next month.

May 14, 2014

Asia Sidesteps Ukraine Woes, Vote Hopes Spur Indian Stocks

Asian shares and the dollar rose on Tuesday as tensions in Ukraine were eclipsed by a strong night on Wall Street, with Indian equities rallying hard on hopes an election victory for the business-friendly opposition party would spur a revival in the region's third-biggest economy.

May 13, 2014

SEBI 'Keeping Close Watch' after Shares Surge - Source

The Securities and Exchange Board of India (SEBI) is keeping a close watch on markets after shares rallied to record highs on speculation that exit polls would show the opposition Bharatiya Janata Party and its allies winning a majority in the election, a senior official with direct knowledge of the matter told Reuters.

May 13, 2014

New Government Set to Inherit Wobbly Economy

India is on the cusp of political change that is widely expected to infuse a new life into an economy that is struggling to break away from a tale of weak growth and high inflation.

May 12, 2014

RBI Chief Stresses his Independence from Government

The head of the Reserve Bank of India (RBI) said on Friday that he - and not the government - was responsible for setting monetary policy, asserting his independence in taking a hawkish stance on inflation amid an election hinging on how to revive economic growth.

May 10, 2014

Jan 1, 1970

Jan 1, 1970

Black Money: Government Reveals Names of 18 Account Holders in German Bank to Supreme Court

The Union government on 29 April submitted the names of 26 account holders of the Liechtenstein Bank in Germany to the Supreme Court.

Apr 29, 2014

China Takes Lead to Set Up $50 Billion Multilateral Infra Funding Bank in Asia

With a capital of $50 billion, China is to set up a multilateral bank to finance infrastructure projects in Asian countries.

Mar 7, 2014

Richest Indian Mukesh Ambani has $18.6 Billion; Richest Man on Earth Bill Gates has $76 Billion

Mukesh Ambani, the chairman of India's Reliance Industries has emerged as the richest Indian with a net worth of $18.6 billion.

Mar 4, 2014

Forbes 2014 Billionaires List: Sheryl Sandberg, Sara Blakely, Oprah Winfrey Join Global Super Rich Club

A record number of women have made it to the 28th annual Forbes billionaires list.

Mar 4, 2014