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Economy News

Sovereign funds' corporate deals halve in third-quarter, Asians stay active

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LONDON The value of corporate deals with sovereign wealth fund (SWF) participation halved in the third quarter as oil-driven funds continued to take a back seat.

Global Economy: High noon for the ECB, Draghi at the QE Corral

FRANKFURT Not for the first time, European Central Bank President Mario Draghi is facing a tricky balancing act.

Budget 2017, 3:39pm IST

Slower property, construction growth drag on China third-quarter GDP but services pick up

BEIJING China posted relatively solid economic growth in the third quarter, driven by a stronger services industry, though there were signs of weakness in real estate and construction as property cooling measures start to bite, data showed on Friday.

Budget 2017, 12:11pm IST

UK lawmakers voice worry over Bank of England's lack of diversity

LONDON British lawmakers on Friday voiced concern about a lack of gender and ethnic diversity at the top levels of the Bank of England, which currently has only two women serving across its three major policy committees.

Budget 2017, 4:53am IST

Private sector left in dust in Indonesia's infrastructure push

JAKARTA Soon after Indonesian President Joko Widodo took office in 2014, he ordered his ministers to give private companies first pick of profitable infrastructure projects, until then usually grabbed by state-owned enterprises (SOEs).

Budget 2017, World 3:34pm IST

Analysis: Could the 1987 stock market crash happen again?

NEW YORK On the 30th anniversary of the 1987 stock market crash, U.S. stocks are at a record high and investors are concerned that steep valuations may mean a correction is overdue, despite healthy corporate earnings and economic growth.

Budget 2017, World 19 Oct 2017

Feature: Thirty years ago this week, Wall Street slid into the abyss

NEW YORK Thirty years ago, before heading to work at the New York Stock Exchange, Peter Kenny left his home in lower Manhattan and made a detour to the nearby Our Lady of Victory church to pray to St. Jude, the Roman Catholic patron saint of desperate and lost causes. | Video

Budget 2017, World, 19 Oct 2017

Exclusive: India likely to stick to deficit target, may step up bank reform - Modi adviser

NEW DELHI India is likely to stick to its fiscal deficit target of 3.2 percent of GDP, and may accelerate sales of government stakes in lenders and other companies as part of an effort to recapitalise banks, an adviser to the prime minister said on Tuesday.

Top News, Budget 2017, 18 Oct 2017

China's central bank warns of 'Minsky moment' as economy powers ahead

BEIJING China's central bank chief on Thursday issued a stark warning about asset bubbles in the world's second-largest economy, which looks set to clock its first acceleration in annual growth since 2010, driven by public spending and record bank lending. | Video

Top News, Budget 2017, 19 Oct 2017

Trump leaning toward Powell for Fed chair: Politico

Federal Reserve Governor Jerome Powell is the leading candidate to become the chair of the U.S. central bank after President Donald Trump concluded a series of meetings with five finalists on Thursday, Politico reported, citing three administration officials.

Top News, Budget 2017, 2:19am IST

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Hang Seng 28,487.24 + 328.15 +1.17%
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Indian Oil defers Paradip refinery shutdown to March-April

NEW DELHI Indian Oil Corp, the country's top refinery, has delayed maintenance shutdown at its 300,000 barrels per day (bpd) Paradip refinery in eastern Odisha state to March-April, a company spokesman said on Friday.