NEW DELHI - India should increase public spending to boost economic growth in the medium term as there have been no signs of private investment picking up, chief government economic adviser Arvind Subramanian said on Friday.
NEW DELHI - India faces a "major challenge" in achieving its 2014/15 fiscal deficit aim of 4.1 percent of gross domestic product, its lowest in seven years, the finance ministry said in a report on Friday.
NEW DELHI - India should increase public sector spending to revive economic growth in the medium term, a move that would require reviewing all fiscal targets, its chief economic adviser said on Friday.
BRUSSELS - European Union leaders endorsed a new investment programme intended to kick-start economic growth in the bloc at a summit in Brussels, which its chairman said would end late on Thursday, half a day earlier than planned.
WASHINGTON - The Federal Reserve on Wednesday offered a strong signal that it was on track to raise interest rates sometime next year, altering a pledge to keep rates near zero for a "considerable time" in a show of confidence in the U.S. economy.
REUTERS - The U.S. Federal Reserve stared down a volatile global economy in October to keep its plans for an eventual interest rate hike on track, and is likely to do so again this week amid plunging oil prices and a potential currency crisis in Russia.
JAKARTA/MUMBAI - Asian central bankers are on guard but say they are not overly concerned that the Russian rouble's collapse will trigger a big sell-off of their own currencies, saying their fundamentals are favourable and their currency defences strong.
MANILA - The Asian Development Bank slightly trimmed its growth forecast for developing Asia for this year and next, but said sliding prices for oil should help economies in the region push through with growth reforms.
MOSCOW - Russia failed to halt the collapse of the rouble on Tuesday, leaving President Vladimir Putin facing a full-blown currency crisis that could weaken his iron grip on power.
NEW DELHI - Business sentiment among Asia's top companies rebounded in the fourth quarter to the second-highest level in almost three years, a Thomson Reuters/INSEAD survey showed, helped by a stronger U.S. economy and a plunge in oil prices.
SINGAPORE - Oil prices rose on Monday as Asian markets opened strongly into a holiday-shortened week and consensus spread that Brent crude futures would likely remain above $60 for the rest of the year.