Tag Archives: Economy

US economy grew 2.5% in second quarter

The US economy grew at an annual rate of 2.5 percent in the second quarter, the commerce department said on Thursday, leaving its prior estimate unchanged. Analysts had expected that second-quarter gross domestic product ( GDP) expanded at a slightly stronger 2.6 per cent pace. The world’s … Continue reading

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Business jet business booms on high-flying tycoons

  NEW DELHI: Forget the slowing Indian economy – for some, it’s still booming. The world’s largest business aviation jet company VistaJet says it is witnessing 25% growth in demand for its planes in India from entrepreneurs. The Zurich-based company, which offers … Continue reading

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Economic gloom worrisome, SBI chief says

MUMBAI: Describing the continuing economic gloom, as reflected in the IIP data, as worrisome, State Bank of India Chairman PratipChaudhuri today said it is time policy makers “wake up” to take urgent corrective steps. The chairman of the nation’s largest bank stressed the need to give … Continue reading

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Rupee may plunge further to 57.80 driven by domestic, global factors

MUMBAI: A confluence of adverse domestic and global factors is threatening to push the Indian rupee to historic lows, making the import of crude oil and coal more expensive and aggravating the problems of aneconomy already battered by decade-low growth and poor investments. … Continue reading

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Indian firms, government eye Myanmar for investment, strategic inroads

NAY PYI TAW: Indian companies are joining global firms as they rush to draw up investment plans in Myanmar, while the government is eyeing several opportunities ranging from special economic zones (SEZs) to banking ventures in the emerging investment hot-spot … Continue reading

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Indian bankers suit up for war on debt defaulters

(Reuters) – Fed up with a profitable textile company’s failure to repay its loan, UCO Bank (UCBK.NS) has taken its grievance public, placing newspaper ads last month that brand the industrialist owner of S. Kumar’s Nationwide Ltd (SKMK.NS) a defaulter. … Continue reading

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Wall Street posts 1st weekly loss since mid-April on Fed angst

The S&P 500 declined for a third day on Friday, with the three major U.S. stock indexes posting their first negative week since mid-April on lingering concern that the U.S. central bank may scale back its stimulus measures to support … Continue reading

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