- Dr. Doom 2013 Prediction: Roubini Says Worse Global Economic Turmoil Approaching; Five Factors To Blame
July 24 2012 1:31 AM
For the last three years, the consensus has been that a robust and self-sustaining recovery for the U.S. economy is on the cards, but economist Nouriel Roubini, dubbed Dr. Doom, thinks that it's not likely to happen, rather he expects below trend growth for many years to come.
- Indian Rupee, Stocks Slip Weighed Down By Euro Zone Woes
July 23 2012 4:23 AM
The Indian rupee touched 55.84 against the dollar Monday, its lowest mark in a week in morning trade, weighed down by heavy demand for the dollar by petroleum companies.
- Indian Economy to Grow at Slowest Pace in 10 Years: Poll
July 19 2012 8:42 AM
India's economy will grow at its slowest pace in a decade this fiscal year, with tight monetary policy, political gridlock and a weakening global economy prompting analysts to slash their forecasts, a Reuters poll showed on Thursday.
- US Can Defeat Any Iranian Effort To Block Persian Gulf Oil: US DOD's Panetta
July 18 2012 1:32 PM
The United States has the military capacity to defeat any Iranian attempt to shut down sea commerce in the oil-rich Gulf region and will hold Tehran directly responsible for shipping disruptions, Defense Secretary Leon Panetta said on Wednesday.
- Fed Ready To Do More To Increase Job Growth: Bernanke
July 17 2012 10:52 AM
The head of the world's most powerful central bank said it stands ready to offer additional monetary support to a U.S. economy that has slowed significantly in recent months, U.S. Federal Reserve Chairman Ben Bernanke told lawmakers on Tuesday.
- Pimco's Bill Gross Says US Is Nearing A Recession
July 17 2012 9:02 AM
Bill Gross, who heads the world's largest bond fund, Pimco, said the United States is approaching a recession, according to a published report Tuesday.
- Former Morgan Stanley Strategist Barton Biggs Dies At 79
July 16 2012 9:18 AM
Former Morgan Stanley global market strategist Barton Biggs died on Sunday, according to an internal firm memo, The Wall Street Journal reported Monday.
- China's Economic Growth Slowest in 3 Years
July 13 2012 7:09 AM
China's growth rate slowed for a sixth successive quarter to its slackest pace in more than three years, highlighting the need for more policy vigilance from Beijing even as signs emerge that action taken so far is beginning to stabilise the economy.
- TCS Net Profit Beats Expectations, Outdoes Infosys Results
July 13 2012 4:48 AM
Tata Consultancy Services (TCS), India's top IT exporter, exceeded the market expectations in the First quarter of the Financial year 2012, by posting strong earnings and affirmed its position as the bellwether of India's IT industry.
- India's Growth Downgraded; ADB Forecasts 6.5 Percent
July 13 2012 4:23 AM
The Asian Development Bank (ADB) cut its growth forecasts for developing Asia on Thursday, saying financial and economic problems in Europe and the United States had cut demand for exports, although Southeast Asia remained a bright spot. China's economy was expected to grow 8.2 percent this year and India's 6.5 percent, Kuroda said.
- India's Industrial Output in May Up by 2.4 Percent
July 13 2012 3:53 AM
India's industrial output picked up more than expected in May, bolstering the case for the Reserve Bank of India (RBI) to keep interest rates high at its next policy meeting as a slow start to the monsoon puts pressure on inflation, especially food prices.
- Infosys Q1 Net Profit Up 33 Percent; Revenue Forecast Cut, No Wage Hike And Share Buyback
July 12 2012 4:43 AM
Infosys Technologies Ltd, India's second largest software services firm, Thursday reported 33 percent rise in net profit for the first fiscal quarter ending June 31, 2012, supported by the appreciation and depreciation of the rupee, and met analysts' expectations.
- India Gets Its Third Stock Exchange; MCX-SX To Be Functional In Couple Of Months
July 11 2012 5:39 AM
MCX Stock Exchange (MCX-SX) is all set to become India's third full-fledged stock exchange as it got license from the Securities and Exchange Board of India (SEBI) to trade in new asset classes, including equities, futures and options and other products.
- Angola's $3.5B, Chinese-Built Ghost Town
July 09 2012 3:00 PM
China is finishing a major housing project outside Luanda, paid for with oil, but nobody's buying. To do so, the average Angolan would need to work 160 years.
- World Economies Slowed In May, Even White-Hot Brazil Disappoints: OECD
July 09 2012 12:38 PM
The world's major economies extended their slowdown in May, with conditions deteriorating significantly in India and Italy, according to a statistical indicator released by the Organisation for Economic Co-operation and Development on Monday. Even in Brazil, one of the few economies surveyed that is expanding, the pace of growth slowed.
- Rupee Touches One-Week Low Against Dollar, Indian Markets Trade In Red
July 09 2012 5:33 AM
The Indian rupee Monday breached the 56-mark to reach 56.03 against the dollar on weak global cues and heavy demand for the U.S. currency from banks and importers.
- India's Generic Drug Healthcare Policy To Benefit Millions Of Poor Patients
July 07 2012 6:49 AM
The Indian government has taken a major step toward its ambitious vision of achieving Universal Health Coverage (UHC) by initiating a $5.4-billion plan that would allow the government sector doctors to prescribe generic drugs to the patients free of cost.
- Mauritius Says It Will Cooperate With India To Avoid Abuse Of DTAA, Offers Two Islands For Business Development
July 06 2012 5:51 AM
Mauritius has conveyed its readiness to cooperate with India to plug in the loopholes in the Double Taxation Avoidance Agreement (DTAA), the tax treaty that exists between the two countries.
- Kenya Nixes Iranian Oil Imports Over Western Threats Of Sanctions
July 05 2012 9:13 AM
Kenyan had signed a deal in June to purchase about 4 million tons of oil from the Iranian National Oil Company.
- Tanzania: Doctors? Strike Exacerbates Chronic Shortage Of Health Care Workers In Poor African Country
July 02 2012 2:14 PM
Tanzania is one of the poorest nations on earth, with one of the weakest health care systems.