Economy News

British pound. (File: Xinhua/Then Chih Wey/IANS)

British Pound falls sharply after Bank of England gives bond-buying end date

The British pound has fallen sharply against the dollar after Bank of England Governer Andrew Bailey warned that it would not extend its emergency intervention in financial markets beyond this week, after the turmoil sparked by the governments mini-budget.

Oct 12, 2022

IDBI Bank Disinvestment: Govt invites bids for buyers

According to the conditions of the EoI, private sector banks, non-banking finance companies (NBFCs), foreign banks and even alternative investment funds registered by SEBI can bid for IDBI Bank.

Oct 8, 2022

Siddaramaiah slams Centre for permitting areca nut import from Bhutan

K'taka areca nut farmers in distress, Siddaramaiah slams Centre over imports from Bhutan

The areca nut growers are already in distress because of various diseases attacking the crop and areca trees. During this difficult hour, the central government has betrayed them, he said

Oct 7, 2022

Global regulator for banks red-flags crypto-assets such as Bitcoin

Cryptocurrency: 51% of daily Bitcoin volume changing hands on crypto exchanges is fake, says report

According to data provided by niche news publisher BanklessTimes.com, the majority of this fake Bitcoin volume is due to wash trading.

Oct 6, 2022

JPMorgan refuses to include India in widely-followed bond index; here's why

JPMorgan's decision to not include the bonds was due to investor concerns about India's market infrastructure, according to a person familiar with the matter.

Oct 6, 2022

RBI hikes repo rate by 50 basis points, pegs inflation at 6.7%; Economic growth at 7%

The RBI Governor Shaktikanta Das, heading the MPC, announced the hike to subdue the inflation.

Sep 30, 2022

Cabinet approves 'Dearness Allowance' hike by 4%

In a festival bonanza for lakhs of Central government employees and pensioners, the Union Cabinet on Wednesday gave it's clearance for release of additional installment of Dearness Allowance and Dearness Relief at 4 per cent.

Sep 28, 2022

Oct 1 deadline for compulsory e-invoice generation nears for firms with Rs 10 cr turnover

As of now, businesses with turnover of Rs 20 crore and more are required to generate e-invoices for all B2B transactions.

Sep 26, 2022

Dow tumbles, Fed hikes interest rate, recession fears grip US economy

The Dow was down 289 points, or 1 per cent, at the market open. The S&P 500 fell 1.1 per cent and The Nasdaq composite was 1.1 per cent lower, CNN reported.

Sep 24, 2022

SC sends former promoters of Fortis Healthcare, Ranbaxy to six months jail

A bench, headed by Chief Justice U.U. Lalit, declined to lift its stay on the open offer by IHH Healthcare Berhad for a 26 percent stake in Fortis Healthcare.

Sep 23, 2022

RBI asks Mahindra Financial services to cease immediately from using recovery agents

In other words, the company was directed not to use services of any outside agency for loan recovery purpos

Sep 23, 2022

I2U2 diplomats meet to review projects, discuss cooperation

The participants expressed their countries' "commitment to deepening the economic partnership among the four countries", according to the State Department.

Sep 21, 2022

CBDT meets officials to dispel doubts on faceless tax assessment.

Gross direct tax collections rise 30% in 2022-23, net direct tax collections up 23%

Net direct tax collections stood at Rs 7.01 lakh crore for the current fiscal till September 17, showing a 23 per cent rise over the corresponding period of last year.

Sep 18, 2022

What's Card Tokenisation? New RBI norms come into effect from Oct 1

Several people were cheated in the last few years by cyber frauds because they have stored their card data on the merchants website for future payments.

Sep 17, 2022

West Bengal Chief Minister Mamata Banerjee

Tata Group is not investing in West Bengal; 'slip of tongue' by CM, says state chief secretary

Tata Group's investment announcement in Bengal was 'slip of tongue' by CM: CS Dwivedi

Sep 13, 2022

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