Future

Exports Seen Sharply Lower at $260 Billion in FY16: Trade Body

New Delhi: As India’s exports fell for the 14th month in a row, exporters said the country may end up with outbound shipments of $260 billion in 2015-16, sharply lower than the $310.5 billion mark achieved in the previous fiscal year. “We may end up with exports of around $260 Billion in 2015-16,” said S C Ralhan, president of exporters’ ... Read More »

Government Planning Hike in FDI for PSU Banks: Report

New Delhi: The government is planning to increase the foreign investment limit in public sector banks to 49 per cent from 20 per cent with a view to attract overseas inflows. The Finance Ministry is looking into the proposal, sources said adding it may be announced in the forthcoming Budget 2016-17. If the government accepts this proposal, it would lead ... Read More »

Strategic Stake Sale Policy Soon: Secretary

New Delhi: More than a decade after privatisation of PSUs was scrapped, the government will very soon come out with a comprehensive policy for strategic stake sale that will detail the mode as well as valuation methodology for outright sale of even profit making companies. The previous NDA government led by Atal Bihari Vajpayee had between 1999 and 2004 privatised ... Read More »

Negative Rates Would Apply for $201 Billion of Reserves: BoJ

Tokyo: The Bank of Japan (BoJ) on Tuesday said negative interest rates will apply to about 23 trillion yen ($201 billion) of total reserves, based on estimates of current account deposits held with the central bank in January. About 206 trillion yen of the deposits parked in BoJ accounts by financial institutions will be paid a 0.1 per cent interest, ... Read More »

BoJ Launches Negative Rates, Already Dubbed a Failure by Markets

Tokyo: The Bank of Japan’s negative interest rates came into effect on Tuesday in a radical plan already deemed a failure by financial markets, highlighting Tokyo’s lack of options to spur growth as global markets sputter. The central bank, which announced the shock decision on January 29, will charge banks 0.1 per cent for parking additional reserves with the BoJ ... Read More »

Economy Growing at Over 7% Despite Weak Exports: Commerce Minister

Bengaluru: Indian economy is growing at over 7 per cent despite weakness in the exports sector, Commerce and Industries Minister Nirmala Sitharaman said on Tuesday. “India is the bright spot. Nobody is denying the (fall in) exports. Export is suffering, but the fact remains that the Indian economy is growing at over 7 per cent,” she told reporters after delivering ... Read More »

Economy Growing at Over 7% Despite Weak Exports: Commerce Minister

Commerce Minister Nirmala Sitharaman said that the brighter side of the economy lies in the fact that it continues to attract investments. Bengaluru: Indian economy is growing at over 7 per cent despite weakness in the exports sector, Commerce and Industries Minister Nirmala Sitharaman said on Tuesday. “India is the bright spot. Nobody is denying the (fall in) exports. Export ... Read More »

NHAI Plans Road Projects Worth $250 Billion in 6 Years

Mumbai: National Highways Authority of India (NHAI) plans to add around 50,000 km of road network in the next five to six years with an investment potential of nearly $250 billion (about Rs. 17 lakh crore). “We have identified around 50,000 km of road projects, which can be done over the next 5-6 years. These projects will have an investment ... Read More »

Petrol Price Cut But Diesel Gets Costlier

New Delhi: Petrol price was on Wednesday cut by 32 paise per litre but diesel rates were hiked by 28 paise per litre on global trends. Petrol in Delhi will cost Rs. 59.63 per litre from the midnight of February 17 and 18 as against Rs. 59.95 a litre currently whereas a litre of diesel will cost Rs. 44.96 as ... Read More »

Myntra Completes U-Turn With Relaunch of Mobile Website

Online fashion retailer Myntra reopened its mobile website on Tuesday, enabling first-time users to complete their purchase on a mobile Web browser. Myntra had shut down the mobile and desktop versions of its website and gone app only in May 2015, forcing users to download the app to browse or make purchases on its platform. In December 2015, Myntra had ... Read More »