Washington: World finance officials pledged on Saturday to deal with new risks to the global recovery while they kept up pressure on the United States to address the biggest threat of all — a market-rattling
ONBOARD PM'S SPECIAL AIRCRAFT: India took the hardest hit during the recent financial market turmoil, but the country has also staged the “strongest recovery”, Commerce and Industry Minister Anand Sharma said today.Despite all the volatility,
State-owned Corporation Bank on Friday reduced interest rates on home, auto and consumer durables loans by up to 1.75 per cent to cash in on the festival season demand.The bank cut lending rate on home
Washington: India has asked the World Bank and other Multilateral Development Banks to create special windows for ensuring finance for infrastructure development which should include provision to help projects that face a sudden scarcity of
New Delhi: India's industrial production growth slowed to 0.6% in August, largely because of weak performance in manufacturing sector and capital goods segment. Industrial production had grown 2.6 percent in July, expanding for the first
Brunei: Unveiling a roadmap to boost economic ties, India Thursday pledged to sign an agreement with the 10-member ASEAN bloc on services and investment by this year end and to reach an accord on FTA
Mumbai: The Reserve Bank today further relaxed foreign borrowing norms for banks under the recently opened swap window by allowing them to raise funds through their head offices and correspondents besides overseas branches.Until now, the
Washington: Emerging economies including India may not be able to return to growth rates of 8 per cent and more under present circumstances and neither would it be advisable for them, an IMF official said.“The
Mumbai: Wal-Mart Stores Inc and Bharti Enterprises are breaking up their joint venture and will independently own and operate separate businesses in the country, the companies said in a joint statement on Wednesday. Wal-Mart, the
New Delhi: The International Monetary Fund (IMF) has lowered its projection of India's growth rate to 3.75 per cent in 2013 from 5.7 per cent estimated earlier on account of poor demand and weak manufacturing
NEW DELHI: Crisis-ridden National Spot Exchange Ltd (NSEL) today made the eighth straight payment default, as it could pay only Rs 2.85 crore to investors against scheduled amount of Rs 174.72 crore.NSEL bourse had defaulted
NEW DELHI: Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the worst is over for the rupee and the fair value for the currency could be between 60 and 65 against the US dollar.“I
Reserve Bank of India Governor Raghuram Rajan, on Tuesday, said the government's target of reducing the current account deficit (CAD) to $70 billion or 3.7 per cent of the gross domestic product (GDP) in 2013-14
New Delhi: Within days of government promising more funds to PSU banks, state-run lenders PNB and OBC today cut lending rate on auto and consumer durable loans by up to 2.50 per cent to cash
New Delhi: The Finance Ministry expects the economic growth in the current fiscal to improve to 5.5 per cent from 5 per cent last year on back of likely pick up in agricultural output on
New Delhi: Domestic cooking gas (LPG) rates may soon go up by almost Rs 3.50 per cylinder in case the government accepts a recommendation for increasing the commission paid to dealers by over 9 per
Chandigarh: Giving relief to the state's textile makers, the state government today slashed Value Added Tax (VAT) from 12.5 per cent to 5 per cent on range of textile, woollen and home furnishing items. This
New Delhi: Finance Minister P Chidambaram will leave for the US tomorrow to attend the annual meeting of the IMF and the World Bank, during which world leaders will deliberate on prevailing uncertainty in global
Bangalore: Stressing the need to step up production of fuel in the country, Petroleum and Natural Gas Minister Veerappa Moily today said India should become energy independent by 2030.“Expert Vijay Kelkar is preparing a road
Mumbai: The demand for jewellery will continue to rise even if there is a downturn in the economy, Union Minister Kapil Sibal said today. “This is one industry which is world class in every sense
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