National & International Financial news and Updates

Business news

India's forex reserves plunge by $2 billion in week ending September 25

The forex reserves had risen by $631.5 million in the previous week and by $2.35 billion in the week before.

Oct 2, 2015

Bank of England warns climate change threatens economic stability

Bank of England Governor Mark Carney said on 29 September that climate change threatens global financial stability and prosperity.

Sep 30, 2015

SBI, Andhra Bank slash their lending rates after repo rate cut by RBI; other banks to follow

While SBI reduced its lending rate by 0.4% to 9.3% per annum, Andhra Bank slashed its interest rate by 0.25%.

Sep 29, 2015

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Yellen indicates Fed rate hike by year-end

The end of 2015 could finally see a rate hike from the US Federal Reserve, almost nine years after it signalled a regime of low rates in order to help global growth. The Feds chair Janet Yellen on Thursday 24 September, said she was confident of a US recovery amid a sluggish global economy and reiterated plans to withdraw the central banks extraordinary stimulus by year-end as long as inflation was stable and employment levels remained strong.

Sep 25, 2015

Retail Inflation Down, Factory Output Up

The growth in factory output was led by the manufacturing sector.

Aug 12, 2015

Sebi Bans Over 900 Entities Involved in Converting Black Money into Legitimate Funds: Report

Chairman UK Sinha says Sebi has acted against these entities as it suspects tax evasion to the tune of Rs 6,000 crore.

Jul 22, 2015

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PayPal valued at about $52bn in market return

PayPal Holdings shares jumped as much as 11 percent in their highly anticipated return to the Nasdaq on 20 July, valuing the company at about $52bn (£33.4bn).

Jul 20, 2015

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ECB agrees extra emergency funding for Greek banks

The European Central Bank (ECB) raised its emergency funding for Greek banks slightly on 16 July, in a step to help banks partially reopen after euro zone governments agreed in principle to grant Athens a new three-year loan.

Jul 16, 2015

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EU Commission proposes €7bn loan to Greece for July

The European Commission proposed to give Greece a €7bn (£4.92, $7.7bn) bridge loan to cover the countrys financing needs in July using the European Financial Stability Mechanism (EFSM).

Jul 15, 2015

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Ukraine: EBRD to invest up to $1bn in 2015 if reforms are made

The head of the European Bank for Reconstruction and Development (EBRD) has said it plans to invest up to $1bn in Ukraine this year, including in the gas sector, provided real reforms are implemented.

Jul 3, 2015

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Greece debt crisis: Tourists panic about access to cash as ATMs run out of money

Banking source says only 40% of cash machines in country have money in them.

Jun 30, 2015

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Edmund Shing: Forget Greece, buy into the European market recovery

Whether Greece stays in the Eurozone or not I believe you should invest in Eurozone stocks.

Jun 24, 2015

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Greeces Yanis Varoufakis urges EU not to fall prey to ‘state of mind that accepts an accident’

Greek Finance Minister Yanis Varoufakis said on Thursday (18 June) the euro zone was dangerously close to a state of mind that accepts an accident. He also slammed other ministers whom he said did not want to discuss his proposal to set up an automatic break on the countrys public deficit.

Jun 19, 2015