Economy News

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

China second-quarter GDP growth slows to 6.7 % amid US trade war

Faced with a slowdown in domestic demand and the potential fallout from the trade war, Chinese policymakers have started to step up policy support for the economy and have softened their stance on deleveraging.

Jul 16, 2018

Mukesh Ambani leapfrogs Alibaba's Jack Ma to become richest man in Asia

Reliance Industries' market valuation had surged past Rs 7 lakh crore mark in the morning trade, thus becoming the second company after TCS to join the $100-billion mark for market capitalization club.

Jul 14, 2018

India's trade deficit widens to more than five-year high

Merchandise exports last month rose to $27.7 billion from a year ago, while imports rose 21.31 percent year-on-year to $44.3 billion, the Ministry of Commerce and Industry said in a statement.

Jul 13, 2018

Cash-strapped Fortis accepts Malaysia's IHH Healthcare bid for $585 million

Fortis has accepted a ($585 million) offer from IHH for a 31 percent stake, capping a months-long bidding war for control of the Indian firm that drew interest from domestic and international suitors.

Jul 13, 2018

Stopping oil imports from Iran may slow down Indian economy

Under US pressure to cut all trade links with Iran, the government has asked oil importing companies and refineries to be prepared for reduction or complete stoppage of oil imports from Iran.

Jul 12, 2018

Sensex opens at record high, Nifty above 11,000 despite global tensions

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,948.30 points on Wednesday, was quoting at 11,005.15 points, up by 56.85 points or 0.52 percent.

Jul 12, 2018

India will lose a reliable energy partner if it cuts oil import: Tehran

Last month, the Trump administration had scrapped a nuclear deal with Iran and put economic sanctions. It also threatened other countries to scrap oil imports from Iran by November or face sanctions.

Jul 11, 2018

Indian economy on the rise, now the sixth largest in the world

IMF's latest figures indicate that India has displaced France to take the sixth spot with a GDP of $2.6 trillion in 2017. Predictions for 2018 are steady growth at 7.4%.

Jul 11, 2018

India, South Korea aim to more than double trade to $50 billion

President Moon Jae-in and Prime Minister Narendra Modi sign 11 agreements to double trade by 2030 in the areas of railways, healthcare, telecommunications and cybersecurity. The two nations are also keen to explore a tripartite partnership for development.

Jul 11, 2018

After farmers, Godrej Group raises voice against Modi's flagship bullet train project

Godrej Group has filed a plea in Bombay High Court against the acquisition of its Vikhroli property which is worth more than Rs. 5 billion.

Jul 10, 2018

Ease of doing Business index: Andhra, Telangana bloom while Delhi disappoints

AP has topped the annual ranking list released by the World Bank for the second consecutive year. Other states that made the top 10 are Gujarat, Karnataka, Chhattisgarh and Madhya Pradesh. The state expected to top the list, Jharkhand, ranked 4th, while Maharashtra and Delhi failed to impress.

Jul 10, 2018

E-commerce players all set to lock horns to dominate entertainment content in India

The industry experts argue that the investment in the content generation segment of the e-commerce is being done to take on Amazon India, which is aggressively strengthening its entertainment content with Prime Video.

Jul 9, 2018

Former officials of Bank of India arrested in Rs 2,654 crore loan case

This case is just another addition to the series of arrests made by the investigative agencies against the retired and serving senior officials of the Public sector Banks (PSBs)

Jul 7, 2018