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Economy

  • Economy

    Our education system cannot compete with India’s, says Pakistan ex-minister

    by Mahua Venkatesh May 21, 2023
    by Mahua Venkatesh May 21, 2023

    Pakistan’s former Finance Minister Miftah Ismail has said that the spendings on education is neither sufficient nor is the amount being judiciously. “India made five institutes of technology within 10 …

  • Economy

    No need to fill out forms for exchanging Rs 2000 notes, clarifies SBI 

    by IN Bureau May 21, 2023
    by IN Bureau May 21, 2023

    The State Bank of India’s top management has informed all branches of the bank that no form or requisition slip was required to be filled out by persons walking in …

  • Economy

    India steps up vigil as Pakistan may pump in fake currency across border ahead of polls

    by Mahua Venkatesh May 21, 2023
    by Mahua Venkatesh May 21, 2023

    Amid the ongoing political and economic crises in Pakistan, there are fears that there could be a further spike in Fake Indian Currency Notes (FICN) flowing in from across the …

  • Economy

    Pakistan’s political turmoil will further impact inflow of foreign loans

    by Mahua Venkatesh May 20, 2023
    by Mahua Venkatesh May 20, 2023

    The ongoing political turmoil in Pakistan will make it even more difficult for the Shehbaz Sharif government to secure the much needed multilateral and bilateral loans. The inflow of foreign …

  • Economy

    Amid G7 agenda of containing Russia, Global South pins hope on PM Modi

    by Mahua Venkatesh May 20, 2023
    by Mahua Venkatesh May 20, 2023

    Prime Minister Narendra Modi, who is in Japan to attend the annual Group of Seven (G7) summit, is expected to raise the pitch for the Global South by prioritising issues …

  • Economy

    RBI withdrawing Rs 2,000 notes, sets Sept 30 deadline for people to exchange them at banks

    by IN Bureau May 19, 2023
    by IN Bureau May 19, 2023

    The Reserve Bank of India (RBI) on Friday announced it will withdraw Rs 2,000 notes from circulation and people can exchange or deposit them in their bank accounts by September …

  • Economy

    Why China may not lift ‘iron-brother’ Pakistan out of its economic mess

    by Mahua Venkatesh May 19, 2023
    by Mahua Venkatesh May 19, 2023

    Will China come to the rescue of cash-starved Pakistan, which is inching closer to a default amid delay in revival of the $6.5 billion loan from the International Monetary Fund …

  • Economy

    De-dollarisation, Russian sanctions drive gold rush among Central Banks

    by Mahua Venkatesh May 17, 2023
    by Mahua Venkatesh May 17, 2023

    Driven by rising geoeconomic uncertainties, the Reserve Bank of India (RBI) along with other central banks have embarked on a gold rush. India’s gold reserves, which were less than 600 …

  • Economy

    First India EU ministerial meeting to be held today; Jaishankar, Goyal to be present

    by IN Bureau May 16, 2023
    by IN Bureau May 16, 2023

    All eyes are on the first ministerial meeting of the India-EU Trade and Technology Council (TTC) which will be held in Brussels today. The meeting will take place amid reports …

  • Economy

    Rs 157 crore black money detected in tax raids on two business groups in Bengal

    by IN Bureau May 16, 2023
    by IN Bureau May 16, 2023

    The Income Tax Department has unearthed unaccounted income of more than Rs. 157 crore crore in search and seizure operations on two business groups operating largely in the Northern region …

  • Economy

    How a 7200 km international trading route can reboot India-Iran ties

    by Mahua Venkatesh May 16, 2023
    by Mahua Venkatesh May 16, 2023

    Will the operationalisation of the 7,200 km long International North South Transport Corridor (INSTC) boost India-Iran ties and push trade between the two countries? India and Iran, once close partners, …

  • Economy

    Amazon sacks 500 staffers in India

    by IN Bureau May 16, 2023
    by IN Bureau May 16, 2023

    US tech giant Amazon is laying off another 500 employees in India across different businesses including Amazon Web Services and more such sackings could be in line as the company …

  • Economy

    ED seizes lottery king Santiago Martin’s assets worth Rs 158 crore after raids in Coimbatore, Chennai 

    by IN Bureau May 15, 2023
    by IN Bureau May 15, 2023

    The Directorate of Enforcement (ED) carried out search operations on the business and residential premises of lottery king Santiago Martin in Tamil Nadu and seized movable and immovable properties worth …

  • Economy

    India may not be severely impacted even if US defaults, RBI closely monitoring situation

    by IN Bureau May 15, 2023
    by IN Bureau May 15, 2023

    The Reserve Bank of India (RBI) is closely monitoring the developments in the US, which could default in about a fortnight if the debt ceiling is not increased immediately. The …

  • Economy

    iPhone maker Foxconn investing $500 million in new factory near Hyderabad, to create 25,000 jobs

    by IN Bureau May 15, 2023
    by IN Bureau May 15, 2023

    Taiwanese electronics giant Foxconn will invest $500 million to set up a new plant near Hyderabad which will generate as many as 25,000 jobs in the first phase of the …

  • Economy

    How the Army, corrupt elite turned Pakistan into a basket case

    by Mahua Venkatesh May 15, 2023
    by Mahua Venkatesh May 15, 2023

    Pakistan’s Army needs to take a large chunk of the blame for ruining the country’s economy. Last year, former Army Chief, General Qamar Javed Bajwa officially admitted that the military …

  • Economy

    Rs 67 lakh worth gold seized from flyer at Hyderabad airport

    by IN Bureau May 14, 2023
    by IN Bureau May 14, 2023

    A passenger, who arrived on a flight fromRiyadh was arrested by Customs officials at Hyderabad Airport on Sunday for smuggling 14 gold bars valued at more than Rs 67 lakh …

  • Economy

    Nirmala Sitharaman’s Japan’s visit is key as India positions itself as the global manufacturing hub

    by Mahua Venkatesh May 14, 2023
    by Mahua Venkatesh May 14, 2023

    Finance Minister Nirmala Sitharaman’s Japan visit has acquired relevance because of the underlying economic diplomacy amid Japanese companies looking to expand investments and diversify their existing businesses in India. Japan, …

  • Economy

    Why de-dollarisation is shaking up the global financial system

    by Mahua Venkatesh May 14, 2023
    by Mahua Venkatesh May 14, 2023

    With the US staring at a debt default, dominance of the American dollar on the world stage may soon be a thing of the past. The de-dollarisation exercise started as …

  • Economy

    Paytm must pay Rs 3 lakh to doctor whose account was hacked, rules High Court

    by IN Bureau May 13, 2023
    by IN Bureau May 13, 2023

    The Madras High Court has directed the RBI to order Paytm to compensate a doctor for the loss of Rs 3 lakh in fraudulent transactions through the digital payments platform. …

  • Economy

    Heavy rains damage large swathes of crops in China leading concerns over food security

    by Mahua Venkatesh May 13, 2023
    by Mahua Venkatesh May 13, 2023

    Heavy rains and floods in several parts of China including the Jiangxi province — known for its rice cultivation, have raised concerns over food security. Large swathes of rice crops …

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