Economy News

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

Hiring Activity of Indian Companies Up 11% in June

The maximum increase was recorded in accounting/finance.

Jul 9, 2015

Indian Business Dreads Lifting of Iran Sanctions

Sort-term pain looms for oil buyers and banks that benefited from sanctions-related payment delays.

Jul 9, 2015

Greece Debt: IMF will not Bend Rules

Without emergency assistance, Greece seems to head to default, largely increasing the risk of exit from the Eurozone.

Jul 9, 2015

William Keegan: Osbornes Victorian budget is an assault on the poor

IBTimes UK economics commentator William Keegan gave his view on Osbornes first all-Tory budget.

Jul 8, 2015

Donald Tusk: No agreement on Greece will affect all of Europe

Euro zone countries have given Greece until 12 July to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europes currency bloc and into economic ruin.

Jul 8, 2015