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‘Bad bank’ to be set up soon: Subramanian

Taking forward the Reserve Bank of India’s suggestion for a state-owned asset reconstruction company, or bad bank, to address the stressed exposures of the banking sector, Chief Economic Adviser Arvin

23 Feb 2017

Solar power target raised to 40k MW

The Cabinet Committee on Economic Affairs has approved the plan to enhance capacity from 20,000 MW to 40,000 MW in solar parks and and ultra mega solar power projects.

23 Feb 2017

India’s GDP to grow at 7.2% in FY18: IMF

India’s growth is projected to rebound to 7.2 per cent in 2017-18, up from the projected 6.6 per cent in FY17, according to the International Monetary Fund’s Article IV consultations report, released

23 Feb 2017

Microsoft launches ‘Sangam’ for the semi-skilled

Microsoft CEO Satya Nadella on Wednesday launched a new product called Sangam in Mumbai. ‘Sangam’ will enable the vast pool of semi-skilled workers to get job opportunities.

23 Feb 2017

Greece's Prime Minister Alexis Tsipras addresses members of his party in Athens on February 11. (File Photo | AP)
IMF: No haircut for Greek debt, more reforms needed

Reforms were urgently needed in the country's pension and income tax systems, Christine Lagarde said.

23 Feb 2017

Italy faces potential sanction from EU for rising debt

Italian debt is expected to rise to a record 133.3 percent of GDP this year from 2016's 132.8 percent

23 Feb 2017

A cashier counts rupee notes as customers wait in queues inside a bank in Chandigarh on November 10, 2016. (Photo | Reuters)
India banking bailout cost manageable: IMF

India's finance ministry earlier backed a call by the Reserve Bank of India to set up a bank for troubled loans.

22 Feb 2017

Indian Oil Corporation.
Indian Oil may regularly export jet fuel; offers rare cargo

Refiners adjust jet fuel and kerosene production depending on local demand, and kerosene demand is easing on the back of the drive to use cooking gas.

22 Feb 2017

(File Photo | Reuters)
WTO deal to cut red tape comes into force, promising global economy boost

The WTO Director hailed the start of the pact, which he said was the biggest reform of global trade in this century.

22 Feb 2017

You cannot hang on to breast cancer drug, Delhi HC tells Roche

The court was hearing pleas on the issue of marketing and sale of generic drugs that are biosimilars to the Swiss company's Trastuzumab.

22 Feb 2017

SpiceJet airlines (File photo | PTI)
Airlines woo fliers with cheap fares, free tickets

Air India is giving one ticket free for every booking in First Class and Business Class and SpiceJet would be offering tickets priced as low as Rs 777

22 Feb 2017

Cabinet approves air services agreement between India and Greece

At present there is no ASA between India and Greece. The delegations of two sides met in New Delhi on September 6, 2016 and finalized the text of ASA.

22 Feb 2017

(File Photo | Reuters)
GST adoption could raise India's GDP growth to over 8 per cent: IMF

Larger than expected gains from the GST and further structural reforms could lead to significantly stronger growth, the IMF said.

22 Feb 2017

(File Photo | Reuters)
India's GDP growth projected to slow to 6.6 per cent due to note ban: IMF

The organization, however, said the economy would bounce back to its expected growth of more than eight per cent in the next few years.

22 Feb 2017

Commuters sit at a bus stop adorned with an advertisement of Indian online marketplace Snapdeal featuring Bollywood actor Aamir Khan, in Bengaluru, India, October 15, 2015. | File Reuters
Snapdeal to cut 600 jobs in hope to turn profitable

Snapdeal will stop all non-core activities, reduce costs drastically and handover pink slips to employees to turn profitable.

22 Feb 2017

GDP growth in third quarter to slump below 6% from demonetisation: SBI Report

The Central Statistical Organisation (CSO) had estimated GDP growth at 7.1 per cent in 2016-17 as compared to the growth rate of 7.9 per cent in 2015-16. 

22 Feb 2017

Arvind Subramanian, Chief Economic Adviser during a press conference in New Delhi on Tuesday. (EPS | Shekhar Yadav)
Idea of bank to tackle bad loans gaining traction: Arvind Subramanian

RBI Deputy Governor Acharya yesterday suggested a two-pronged strategy to resolve the issue of bad loans including the creation of a Private Asset Management Company.  

22 Feb 2017

The official added there are certain exceptions to these cash-based loan transfers like that under the agricultural income category and others.(Image for representational purpose only.)
Taxman to scrutinise loan deposits over Rs 20,000

The official added there are certain exceptions to these cash-based loan transfers like that under the agricultural income category and others.

22 Feb 2017

A forex dealer counts rupee notes. (File photo | Reuters)
RBI sets rupee reference rate at 66.9644 against dollar

The corresponding rates were 66.9771 and 71.0560, on February 20.

22 Feb 2017

Sensex on the facade of the Bombay Stock Exchange building in Mumbai. (File photo | Reuters)
Sensex rises 103 points; Reliance Industries Limited leads rally

RIL soared to about eight-year highs following its telecom unit Reliance Jio announcing data tariff plans.

22 Feb 2017

An employee works inside the office of Myntra in Bengaluru, May 6, 2015. | Reuters
Myntra to manage Mango in India; curate 25 retail stores

This is the first time that an e-commerce player will manage the omni-channel strategy for a global fashion brand.

22 Feb 2017