Economy News - Page 18

Subbarao doesn't want to be RBI governor again

Reserve Bank Governor D Subbarao, who has been having a tough time in dealing with spiralling inflation without hurting economic growth, does not want a third term at the helm of the central bank.

Bihar's economy growing under Nitish Kumar

Bihar's economy grew at a rate of 11.36 percent from 2004-05 to 2010-11, much above the national average.

RBI to issue Rs 1,000 notes with inset letter 'R'

The design of these notes to be issued now would be similar in all respects to the banknotes in Mahatma Gandhi Series 2005 issued series.

Another CRR cut likely as liquidity remains tight: Gokarn

RBI Deputy Governor Subir Gokarn today said the apex bank will "consider" a further cut in the cash reserve ratio (CRR) if the systemic liquidity conditions continue to be tight.

Pranab hopeful that economic slowdown is temporary

The economic growth during 2011-12 is estimated to slip to three-year low of 6.9 percent from 8.4 percent a year ago.

Cash squeeze likely to prompt further rate cuts

The cash deficit is currently is around Rs 1.6 lakh crore . Banks expect it to rise to Rs 2 lakh crore in mid-March.<br /><br />

Canada threatens trade war with EU over oil sands

The proposed EU fuel quality directive would limit use of non-conventional fuel, such as the oil extracted from the vast tar sands in western Canada, saying that exploitation of the oil sands threatens the environment.

BRICs no less vulnerable to global risks: report

BRIC countries have not become less vulnerable to global shocks despite their strong economic growth over the past four years, a survey showed on Monday.

Japan slowly wakes up to doomsday debt risk

Capital flight, soaring borrowing costs, tanking currency and stocks and a central bank forced to pump vast amounts of cash into local banks - that is what Japan may have to contend with if it fails to tackle its snowballing debt

Rural area retail inflation highest in Maharashtra

The government today said that the rate of inflation for rural workers moved up in a majority of states during January, with Maharashtra witnessing the highest level of price rise and Tripura the lowest.

RBI external panel in favour of rate cut, Guv to take final call

Three out of the seven external members of the RBI's technical advisory committee (TAC) had suggested a cut in the repo rate by 25 basis points, while one member had suggested a 50 basis points cut, it said.<br /><br /> <br /><br />

China tries to improve accuracy of economic data

China has now put in a system to be kicked off on Saturday which will collect original data directly from businesses, the latest bid to improve the accuracy of key indicator.

China-Japan to directly trade in Yen-Yuan, dollar takes a back seat

The gradual relaxation on the use of the yuan in international transactions has led to an increase of Chinese trade now being settled in yuan.<br /><br /> <br /><br />

Czech economy slips into recession

The economy contracted for the second consecutive quarter after it was down by 0.1 percent in the third quarter.

Timely action saved illegal transfer of Rs 66k cr: Pranab

CBDT Chairman Laxman Das said that another Central Processing Centre at Ghaziabad is being set up to process TDS returns and it will result in reduction of TDS mismatches during the processing of tax returns.

EGoM to discuss gas allocation policy on 24 Feb: Reddy

KG-D6 gas output has fallen to below 39 million cubic meters per day after touching a peak of 60 mmcmd in March 2010.

Gold seen falling past 1-week low

The rupee, which weakened on Tuesday, plays an important role in determining the landed cost of the dollar-quoted yellow metal.<br /><br />

Moody's cuts France, UK, Austria outlooks to negative

The rating agency said it was making the changes "in order to reflect their susceptibility to the growing financial and macroeconomic risks emanating from the euro area crisis."

Students cheer! SBI planning to cut interest rate on education loans

SBI today hinted at a possible cut in lending rates in the education loan segment, though it is is unlikely to reduce its base rate for now.

Indian economy showing signs of improvement: OECD survey

The international economic outlook is showing tentative signs of improvement, with the momentum shift spreading from the United States and Japan to other developed countries, the OECD's December survey of growth prospects showed.

Rupee opens lower at 49.45, oil payments weigh

At 9 am the rupee was at 49.45 to the dollar, compared with Friday's close of 49.40/41. Traders had expected the rupee to open around 49.52 to the dollar and move in a band of 49.36 to 49.81.<br /><br />

Eyeing Yahoo deal, Alibaba may take HK unit private

Under the plans, Alibaba Group would use bank loans and cash plus an asset swap to buy back about a 25 percent stake, leaving Yahoo holding 15 percent.

Gold demand returns after prices ease

A weaker rupee could limit the downside in prices. The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal.

Germany: Greek deal doesn't meet bailout terms

Germany's finance minister says a deal between Greek party leaders on new spending cuts appears to not yet fulfill all the conditions for a 130 billion ($173 billion) bailout.

Fears of US slowdown fade as economy shows some muscle

A few months ago economists were all but certain the US economy would slow sharply at the start of this year, with many warning that recession risks were growing.

EGoM meet on gas postponed, no new dates announced yet

The EGoM meeting, the first in more than 18 months, was to consider changes in gas allocation in view of sharp drop in output from Reliance Industries' eastern offshore KG-D6 block.<br /><br /> <br /><br />

RBI may cut interest rates by 100 bps this year. Here's why

2012 may see better consumption numbers at least on the expenditure side. <br /><br />

Pranab disappointed as economic growth slows down to 6.9%

Slowdown in agriculture and manufacturing is likely to pull down India's economic growth to a three-year low of 6.9 percent in 2011-12.

Capital controls temporary, best policy is growth: Rangarajan

Rangarajan claims that the best policy option in current circumstances is strong economic growth, which can absorb the larger inflows without affecting stability.

BSE Sensex up 0.3 percent, GDP data awaited

Various estimates from economists and policymakers have pegged India's gross domestic product growth at between 7 and 7.5 percent in the fiscal year that ends in March.<br /><br />