Economy News

Greek Parliament Approves Austerity Bill, Reforms to Avert Grexit

The vote, which came just before 2 a.m., was 229-64 with six abstentions.

Jul 16, 2015

China Economy Beats Forecast, Grows at 7% in Second Quarter

Analysts polled by Reuters had forecast GDP in the world's second-largest economy would grow 6.9 percent in April-June

Jul 15, 2015

Greece Misses New Payment Worth 456 Million Euros to IMF

The leaders of euro zone countries reached a bailout agreement for Greece to avoid bankruptcy, provided the Greek government implements harsh austerity measures.

Jul 14, 2015

After Greece, Iran Nuclear Talks Hold Key to Crude Oil Prices

Negotiations between world powers and Iranian diplomats on Tehran's nuclear programme reached 17th day in Vienna.

Jul 13, 2015

Greek bailout deal: What Greece has agreed to in 90 seconds

IBTimes UK explains what Greece has agreed to with Eurozone leaders in a new bailout deal.

Jul 13, 2015

Eurozone Leaders Strike Deal to Bailout Greece for Third Time

The Greek government has to pass the reforms mandated by the eurozone leaders by Wednesday to receive the bailout funds.

Jul 13, 2015

Oil Prices Fall as Iran Nuclear Deal Seems Likely

Iran and six world powers were on the brink of finding a nuclear deal that would bring sanctions relief in exchange for curbs on Tehran's nuclear programme.

Jul 13, 2015

Euro Zone Argues with Greece on Bailout Terms at Emergency Summit

Tsipras said on arrival in Brussels he wanted "another honest compromise" to keep Europe united.

Jul 13, 2015

a-gas-nozzle-is-used-to-pump-petrol-at-a-station

India to Save ₹ 1.50 Lakh Crore From Oversupplied Crude Oil Market

Average cost of crude oil imported by India fell to $61.50 per barrel in April-June quarter of 2015-16, from $84.10 a barrel a year ago.

Jul 11, 2015

Greece PM Admits Making Major Concessions to Creditors

Greece's Eurozone partners and creditors are due to decide this weekend whether the newest submission from Athens is sufficient to keep the Greeks in Europe.

Jul 11, 2015

Pro-Euro Greeks Stage Rally in Athens

"We are staying in Europe" and "We do not negotiate this" read the banners waved by citizens.

Jul 10, 2015

Narendra Modi Says He and Xi Jinping Committed to Take India-China Ties to New Heights

Narendra Modi pitched for stronger cooperation among the BRICS members amid rising global economic concerns as he made a veiled attack on the West over the sanctions on Russia.

Jul 9, 2015

India to Outpace China in Growth This Year, Says IMF

The International Monetary Fund has projected India's growth at 7.5% this year, against 6.8% for China.

Jul 9, 2015

Petrol, Diesel Price Cut on Cards?

Brent crude oil prices traded at $58 per barrel on Thursday, down over 16% compared to the levels seen in early June.

Jul 9, 2015

Summer budget 2015: Anti-Austerity protesters hold die-in outside parliament

The Peoples Assembly against Austerity held a die-in on 8 July outside parliament, just hours after Chancellor George Osborne presented his summer budget, the first solely Conservative budget in 20 years.

Jul 9, 2015