Economy News

Biden wishes Musk "lots of luck" on SpaceX trip to Moon as Tesla decides to cut 10% workforce

US President Joe Biden has wished Elon Musk "lots of luck" for his trip to the Moon, as the Tesla CEO expressed "super bad feeling" about the economy and decided to cut its workforce by 10 per cent.

Jun 4, 2022

EPFO payroll data: EPFO adds 15.29 lakh net subscribers during the month of January, 2022

Govt reduces PF rates further to 8.1% in FY2022, a four-decade low

At 8.1 per cent rate of interest on employees' provident fund deposits for FY22, the interest rate would be the four-decade low

Jun 4, 2022

Analysis: Indo-Pacific Economic Framework Initiative - a game changer

The 21st century, being described as the "Century of Asia", has seen emergence of several regional trading groups.

May 28, 2022

GIC Re logs PAT of Rs 2,005 cr, cuts underwriting loss

The General Insurance Corporation of India (GIC Re) closed last year with a higher after tax profit and gross premium income.

May 28, 2022

Reserve Bank of India's balance sheet grows by 8.46% in Fiscal year 2022

The size of the Reserve Bank of India's (RBI) balance sheet increased by 8.46 per cent as on March 31, 2022, mainly reflecting its liquidity and foreign exchange operations during the entire fiscal year.

May 27, 2022

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Moody's slashes India's GDP projection further down to 8.8% from 9.1%, here's why

Moody's Investors Service has slashed India's GDP projection to 8.8 per cent for 2022, from 9.1 per cent estimated previously, citing the prevailing high inflation in the country.

May 27, 2022

Andhra Pradesh's pavilion at Davos to highlight investment opportunities

Andhra Pradesh's pavilion at the World Economic Forum (WEF) annual meeting at Davos will highlight the investment opportunities.

May 20, 2022

Uber India hikes fares, to pay drivers daily; Consumers at receiving end

Uber taxi has hiked ride fares and decided to make a daily pay process for drivers

May 20, 2022

Walmart to Target to Microsoft, the bear grip remains strong as US faces 4-decade high inflation

Walmart is much-watched as investors and economists look for clues about how the US consumer is weathering inflation but the results "were unexpected and reflect the unusual environment."

May 19, 2022

Pakistan Rupee plunges to Rs 200 per US dollar, historic low reflecting weakening economy

With a fresh decline of Rs 2.1, Pakistan rupee plunged to yet another historic low of Rs 199 against the US dollar during intraday trading, despite suspected intervention by the Central bank.

May 19, 2022

China's zero-COVID policy not "sustainable": WHO Chief as reports questioning Shanghai lockdown surface

The head of the World Health Organization said on Tuesday China's zero-tolerance COVID-19 policy is not sustainable given what is now known of the virus, in rare public comments by the U.N. agency on a government's handling of the pandemic.

May 11, 2022

Stock Markets: Sensex, Nifty traded steady in opening deals as rupee appreciates marginally

Indian equity benchmarks traded steady in early deals on Tuesday after a sharp slump the previous day.

May 10, 2022

Toyota Group signs MoU with K'taka for Rs 4,800 crore investment

The Toyota Group of Companies, comprising Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts, on Saturday announced a Memorandum of Understanding (MOU) signed with the Karnataka government to invest Rs 4,100 crore of a total Rs 4,800 crore towards 'Make in India' and to enable a faster reduction in carbon emissions.

May 8, 2022

Why has the forex reserve sunk $44.73 billion in 8 months? (Explainer)

The fall in foreign exchange reserves is also due to a value loss, which reflects the US dollar's strengthening versus key currencies, as well as a drop in gold prices.

May 7, 2022

Despite 247K vacancies, US weekly jobless claims tick up to 200,000

Initial jobless claims in the US last week ticked up to 200,000 amid continued labour market tightness, the Labour Department reported.

May 6, 2022

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