Economy News

Slowing economy, consumption to blame as centre misses revenue target by 11%

GST, income tax and excise duties collection growth declines amid a slump in fixed investments and exports

May 3, 2019

Bengaluru emerges as Asia's top city for start-ups

Apart from the many tech start-ups present in the city, it also has several co-working spaces, incubators and investors. Successful start-ups like Flipkart, Ola, Wipro, and Infosys started in Bangalore.

May 1, 2019

Centre mulls merger of PNB, Union Bank and Bank of India

"We wouldn't like to wait for too long," says a a finance ministry official, commenting on the plan to merge Punjab National Bank, Union Bank and Bank of India.

May 1, 2019

a worker cycling by an Indian oil refinery

$100 crude: Will new govt slip on boiling oil after Lok Sabha elections?

Trump's squeeze on Iran oil raises the spectre of a rapid rise in oil prices and the Indian economy suffering as the new government's elbowroom to stimulate growth dwindles.

Apr 30, 2019

Domestic fuel price, strategic concerns weigh on India as Iran oil waiver ends

New Delhi has cause to worry that Washington's offer of crude at concessional terms could have strings attached endangering strategic ties with Teheran and defence relations with Moscow

Apr 25, 2019

India may continue to buy Iranian oil amid US ending waiver

India was among eight nations which were granted waivers from US sanctions on Iran. The countries included China, Japan, South Korea, Turkey, Taiwan, Italy and Greece

Apr 23, 2019

Has Jet Airways bidders' interest nosedived amid loss of flight slots, procedural confusion?

Redistribution of grounded airline's flight slots to rivals, regulatory confusion as top court stays key RBI circular on stressed assets, and threat of bankruptcy proceedings cloud the fate of stake sale.

Apr 23, 2019

Queen Elizabeth and the royal treasury will be taxed extra because of Meghan Markle

Since the Duchess of Sussex has not renounced her citizenship, she will be doubly taxed, both by the USA and the U.K.

Apr 12, 2019

With its arms wide open, Sharjah is set to embrace new investments

The third largest emirate, which served as the secondary affordable residential backup hub for Dubai is now charting its own journey of excellence; while retaining its culture and heritage.

Apr 11, 2019

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Global Markets: Asian shares pause near eight-month high, dollar weakens

Overnight, European and U.S. shares gained. On Wall Street, the S&P 500 added 0.35 per cent, the Nasdaq climbed 0.7 per cent while the Dow was barely changed.

Apr 11, 2019

IMF scales down India's growth forecast, economy to grow at 7.3% in FY20

Notably, the Indian economy slumped to a five-quarter low of 6.6% in December quarter of the running fiscal year post which the Central Statistics Office cut down its 2018-19 forecast from an earlier estimate of 7.2% to 7%.

Apr 10, 2019

Inflation seen inching up in March, but still below RBI target: Survey

According to the median consensus of over 40 economists polled by Reuters between April 4 and 8, consumer prices rose at an annual rate of 2.80 per cent in March, up from 2.57 per cent in February.

Apr 9, 2019

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Oil hits November 2018 highs amid OPEC supply cuts, US sanctions

Brent and WTI both hit their highest levels since November last year at $70.76 and $63.48 per barrel, respectively, early on Monday.

Apr 8, 2019

Will banks reduce housing, car loan interest after RBI's rate cut?

RBI expects banks to bring down interest rates on housing and car loans unlike in February when the lenders resisted advise to transfer the rate cut benefit to customers.

Apr 5, 2019

Saudi Arabia threatens to ditch dollar oil trades to stop 'NOPEC'

In the unlikely event, Riyadh was to ditch dollar, it would undermine its status as the world's main reserve currency, reduce Washington's clout in global trade and weaken its ability to enforce sanctions on nation states.