Economy News

US oil giants to lobby against tighter Russia sanctions

Oil companies such as Exxon Mobil have been vocal about their stance against Russia sanctions. Opponents claim sanctions unfairly penalise U.S. companies.

Jul 21, 2018

Vedanta says shut down of Tuticorin copper smelter could result in $100 million of losses

The company, which has been marred in controversy following the violence during the Sterlite protests in Tuticorin, has sought a permanent injunction against the state government from interfering with the operations of its copper smelter.

Jul 20, 2018

Microsoft shares have risen 180 percent since Satya Nadella took over as chief executive

Much of Microsoft's recent growth has been fueled by its cloud computing business, which has benefited from companies rushing to shift their workloads to the cloud to cut data storage and software costs.

Jul 20, 2018

Weak Rupee, no-confidence vote help IT stocks soar

Sensex sees a rise as Rupee weakens after a no-confidence vote and a drop in the value of the Yuan. IT stocks are the biggest earners from the weakening value of India's currency.

Jul 20, 2018

North Korean economy falls lowest in 20 years as sanctions hit hard

Estimates by the Bank of Korea say that North Korea's GDP fell by 3.5 percent in 2017, its largest drop since 1997. With denuclearization talks in full swing, Kim Jong Un is attempting to revive his country's economy at the earliest.

Jul 20, 2018

China's offer to build economic corridor in Myanmar reaches final stage

The two government seems to be interested on project by but a there is a number issues that may block its progress.

Jul 19, 2018

Apple bigwigs Tom Gruber and Vipul Ved Prakash call it quits amid Siri reshuffle

Apple has confirmed both the departures. Tom Gruber, one of the original co-founders of Siri, will be pursuing personal interests in photography and ocean conservation, the company said.

Jul 19, 2018

SoftBank CEO Masayoshi Son calls Japan 'a stupid country' for prohibiting ride sharing

The Japanese government outlaws non-professional drivers from transporting paying customers on safety grounds and the country has a vocal taxi industry lobby that has opposed deregulation.

Jul 19, 2018

New hurdle for Vodafone-Idea merger as telecom department rejects request

The Vodafone-Idea deal is already running late as the companies had agreed upon a deadline for the end of June.

Jul 18, 2018

Indian Railways set to get its first dedicated freight corridor on Independence Day

Although the dedicated freight corridor received an in-principle approval from the Cabinet way back in 2006, the project has been delayed multiple times.

Jul 17, 2018

Meet Evan Luthra, the young entrepreneur set out to change the world with blockchain [VIDEO]

In our latest BizTalk, International Business Times, India's Executive Editor, Danish Manzoor interacts with Evan Luthra, a young serial entrepreneur, innovator and angel investor, about blockchain and investments. Watch the full interview here.

Jul 17, 2018

Government to rescue public sector banks; might infuse Rs 8,000 crore

In January 2018, the government had announced a capital infusion of Rs. 88,000 crore to 20 public sector banks in the current financial year.

Jul 17, 2018

IMF cuts India's growth projection, but it still retains world's top spot

Maury Obstfeld, International Monetary Fund's director of the Research Department, said that the rise in oil prices due to supply disruptions and geopolitical tensions have harmed importers like India.

Jul 16, 2018

Indian IT companies witness drop in foreign portfolio investors' exposure

Interestingly, one of the major features of the Indian markets in the current year has been the high volatility in terms of investment when it comes to foreign inflow and outflow

Jul 16, 2018

Punjab National Bank's turnaround on full throttle; recovers Rs 77 billion in Q1

The most encouraging part of this development is that the recovery has surpassed the total amount it recovered in the entire financial year 2017-18

Jul 16, 2018