Economy News

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

US private sector adds 247,000 jobs in April

US private sector adds 247,000 vacancies in April; Nearly one person - two jobs situation

Private companies in the US added 247,000 jobs in April, indicating a slower growth in a tight labour market, payroll data company Automatic Data Processing (ADP) reported.

May 5, 2022

RBI drops the bombshell, raises the repo rate by 40 basis points to 4.40%

The RBI governor added that global oil prices are holding above USD 100 a barrel, which is seeping into local fuel prices, citing inflationary concerns.

May 4, 2022

SL Bankruptcy: DMK to contribute Rs 1 crore; Stalin appeals to people for help

Tamil Nadu Chief Minister M.K. Stalin has appealed to the people to contribute to the state government to buy food materials, and ship them to Sri Lanka to help the people of the island nation currently reeling under an economic crisis.

May 4, 2022

Twitter not to be free for business and Govts: Elon Musk

Tesla CEO Elon Musk on Wednesday said that business and government users on Twitter may need to pay a slight fee to stay on the micro-blogging platform.

May 4, 2022

India to become $ 5 trillion economy only by 2029 : IMF

It should be noted that the IMF decreased India's growth prediction for FY23 by 80 basis points to 8.2% in its latest World Economic Outlook report released last month.

May 4, 2022

GST collection touches all-time high in April at Rs 1.68 lakh cr

The monthly collection under the Goods and Services Tax (GST) has touched a record high of Rs 1.68 lakh crore in April 2022, data showed.

May 2, 2022

K'taka clears 60 new industrial projects; 8,575 jobs to be created [details]

Keeping up the industrial growth momentum, the Karnataka government has approved 60 industrial projects worth Rs 2,465.94 crore that would generate jobs for over 8,575 people in the state, an official statement stated on Sunday.

May 1, 2022

Wheat prices witness sharp hike after Russia-Ukraine war, above MSP for a change [Details]

Parallel to crude oil, prices of wheat and wheat flour too have seen a steep uptick ever since the war between Russia and Ukraine broke out in late February.

Apr 21, 2022

SC asks ED to get back Rs 5,000 crore Unitech's home buyers' money stashed abroad

The Supreme Court on Wednesday asked the Enforcement Directorate (ED) to propose steps to bring back home buyers money, amounting to Rs 5,000 crore diverted to tax havens, as revealed in a forensic audit.

Apr 21, 2022

India stares at power crisis as coal supply dries up [Details]

One of the reasons thermal power plants are suffering from a coal scarcity, according to an official, is that coal imports will be reduced in 2021-22.

Apr 21, 2022

IMF slashes global growth amidst Ukraine war; sharply cuts India's forecast to 8.2% [details]

The IMF lowered its forecast for India's GDP growth in the current fiscal year to 8.2%, down 0.8 percentage points from its prior estimate.

Apr 20, 2022

ED attaches assets of Amway worth Rs 757.77cr in money laundering case

The Enforcement Directorate (ED) on Monday said it has attached assets worth Rs 757.77 crore belonging to Amway India Enterprises Private Limited -- a company accused of running a multi-level marketing scam, in connection with a money laundering case.

Apr 18, 2022

Sri Lanka's newly-appointed Finance Minister Ali Sabry.

Bankrupt Sri Lanka rushes delegation to IMF seeking $4 bn bailout

The Sri Lankan government has sent a delegation to the International Monetary Fund (IMF) for discussions over ways to get the lender's loans.

Apr 18, 2022

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Economy News

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

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

US private sector adds 247,000 vacancies in April; Nearly one person - two jobs situation

RBI drops the bombshell, raises the repo rate by 40 basis points to 4.40%

SL Bankruptcy: DMK to contribute Rs 1 crore; Stalin appeals to people for help

Twitter not to be free for business and Govts: Elon Musk

India to become $ 5 trillion economy only by 2029 : IMF

GST collection touches all-time high in April at Rs 1.68 lakh cr

K'taka clears 60 new industrial projects; 8,575 jobs to be created [details]

Wheat prices witness sharp hike after Russia-Ukraine war, above MSP for a change [Details]

SC asks ED to get back Rs 5,000 crore Unitech's home buyers' money stashed abroad

India stares at power crisis as coal supply dries up [Details]

IMF slashes global growth amidst Ukraine war; sharply cuts India's forecast to 8.2% [details]

ED attaches assets of Amway worth Rs 757.77cr in money laundering case

Bankrupt Sri Lanka rushes delegation to IMF seeking $4 bn bailout

Time for India to follow suit? France, Germany, Netherlands, US banned use of EVMs [here's why]

Dhanush's Captain Miller has no buyers in Telugu states? Here's why

Deepika Padukone is a sight to behold in velvet gown; attends Academy Museum Gala with Selena Gomez, Dua Lip [see pics]

Is exhibiting cleavage mandatory? Malaika Arora opts for low neck sleeveless outfit at event in Vrindavan, leaves netizens furious

'She is cruel…': Ankita Lokhande CRIES after fight with Mannara, tells Vicky she wants to go home; fans react