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Economy News

Virginia Rometty, IBM

IBM Denies Forbes Massive Layoff Report, Confirms 'Workforce Rebalancing' but on Smaller Scale

The IT firm dismissed rumours surrounding a Forbes report claiming the company is to cut about 1,12,000 jobs. Jan 27, 2015
Gold bars

India's Swiss Gold Imports Cross ₹1.2 Lakh Crore in 2014; Illicit Funds Being Routed Back Through Bullion?

The government suspects bullion and diamonds are being used to bring back illicitly stashed money from foreign shores. Jan 27, 2015
Obama india visit

Obama, Modi to Address CEO Forum Meeting

Prime Minister Narendra Modi's "Make in India" campaign is said to be the top agenda of the meeting. Jan 26, 2015
Finance Minister Arun Jaitley

Budget 2015 : No Increase in Tax Rates, Incentives for Manufacturing Sector

Jaitley indicates that Budget 2015 will not witness a rise in tax rates. Jan 24, 2015
Modi

Govt Likely to Sell 5% Stake in PFC Next Week; Lines Up Dredging Corp, NMDC, IOC and NALCO

In a bid to limit the fiscal deficit to 4.1 per cent, the government is looking to sell stakes in key organisations. Jan 24, 2015
Saudi King Salman bin Abdulaziz al-Saud

King Abdullah's Death: Oil Price Increase Unlikely To Continue Amid Excess Supply

The new King will continue to use the services of Oil Minister Ali al-Naimi, read the royal decree. Jan 24, 2015
102-air-india-pilots-found-flying-with-lapsed-licenses

Air India Eyes Expansion, May Place Order for Fleet Of Airbus A320 Neo

Air India is expected to place an order for Boeing 737 Max jets, in a bid to expand its fleet to take on the growing demand for air travel. Jan 24, 2015
Saudi King Salman bin Abdulaziz al-Saud

Saudi King Abdullah's Death Fans Speculation over Policy, Oil Jumps

The uncertainty surrounding the oil policy of Saudi Arabia, as it mourns its dead king, drove oil prices up. Brent crude moved as high as $49.80. Jan 23, 2015
Air India

AI to Sell Assets to Prune ₹40k crore Debt; SpiceJet Receives Initial Approval for Revival, Shares Jump

Air India losses have reached 40k crore, with the airline trying to sell real estate. SpiceJet has received initial approval to facilitate management control going to Ajay Singh, who's trying to resurrect the cash-strapped airline. Jan 22, 2015
NMDC mines in South India

Modi Govt Shifts Gears on Disinvestment, Lines Up Stake Sale in NMDC, IOC, NHPC and Dredging Corp

The government is gearing up to launch a slew of alternate stake sales, after its earlier planned offloading at CIL and ONGC hit a road block. Companies now considered include NMDC, NHPC, Dredging Corp and IOC Jan 22, 2015
Finance Minister Arun Jaitley

Budget 2015: 3-yr FDs could get Tax Exemption; Financial Institutions Call for Introduction of Corporate Tax-Slab

Banking industry representatives have called on the FM to rationalise the maturity period for tax exemption status on fixed deposits so that it is on par with mutual funds at three years. Jan 22, 2015
Gold bars and Swiss Franc

Gold at Five-Month High, Breaches $1300 Mark

Demand for gold has increased in the past few days, due to a global slowdown forecast. Silver also saw increased demand from industry and coin-makers. Jan 21, 2015
pm-modi-offers-prayers-at-varanasi-assi-ghat-launches-swachh-bharat-abhiyan

Modi's Swachh Bharat Abhiyan Sees World Bank Committing $1 Billion

The Clean India Mission is expected to cost more than ₹62,000 crore. Jan 21, 2015
arun-jaitley-asks-media-to-act-responsibly-towards-important-matters

Budget Proposals Will Be Transparent, Says Arun Jaitley

Arun Jaitley reiterated his stand on a more rationalized tax structure and added that Tier II and III cities would see infra investments go up, benefiting farmers. Jan 20, 2015
Indian Economy

After World Bank, IMF Projects India to Outpace China's Growth in 2016

IMF projects the world's 10th-largest economy to post faster economic growth, overtaking China. Jan 20, 2015
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