Economy News

RBI seeks change in how banks set lending rates


MUMBAI - The Reserve Bank of India (RBI) issued draft guidelines on Tuesday for its proposed plan to change how banks calculate their lending rates, which would make them more responsive to monetary policy actions but would likely be opposed by the sector.

India's factory growth slowed in August despite deep discounting

REUTERS - Indian manufacturing growth eased in August as the pace of orders softened, forcing factories to cut selling prices at the fastest rate in more than six years, a business survey showed on Tuesday.

01 Sep 2015

IMF's Lagarde sees weaker than expected global economic growth

JAKARTA - Global economic growth is likely to be weaker than earlier expected, the head of the International Monetary Fund said on Tuesday, due to a slower recovery in advanced economies and a further slowdown in emerging nations.

IMF 01 Sep 2015

China, euro zone weaken despite world awash with cash

LONDON/BEIJING - China's giant manufacturing industry contracted while British and euro zone growth eased in August, rattling markets and reinforcing expectations interest rates may fall again or stay near zero for longer.

01 Sep 2015

Weak China Aug factory, services point to further economic slowdown

BEIJING/SHANGHAI - Activity in China's factory sector shrank at its fastest rate in at least three years in August as domestic and export orders tumbled, hitting global markets and increasing fears that the world's second-largest economy may be heading for a hard landing.

01 Sep 2015

Slower-than-expected April-June growth boosts rate cut calls

NEW DELHI - Indian growth slowed by more than expected in the quarter to June, a setback for Prime Minister Narendra Modi that will prompt more urgent calls from his aides for interest rate cuts.

Top News, 01 Sep 2015

Hit by cheap oil, Canada's economy falls into recession

OTTAWA - The Canadian economy shrank again in the second quarter, putting the country in recession for the first time since the financial crisis, with a plunge in oil prices taking a toll as business investment fell and inventory accumulation slowed.

01 Sep 2015

China central bank to clamp down on forwards trading to curb yuan depreciation

SHANGHAI - China's central bank plans to tighten rules on trading of currency forwards from October, sources with direct knowledge of the matter told Reuters, in a move to curb speculation and volatility after a shock devaluation of the currency last month.

01 Sep 2015

China Caixin factory, service PMIs suggest economic slowdown worsening

SHANGHAI - Activity in China's vast factory sector shrank at its fastest pace in almost 6-1/2 years in August, a private survey showed on Tuesday, increasing investor fears that the world's second-largest economy may be lurching toward a hard landing.

Top News, 01 Sep 2015

COLUMN - Weak China PMIs won't automatically lower commodity imports: Russell

LAUNCESTON, Australia, - --Clyde Russell is a Reuters columnist. The views expressed are his own.--

01 Sep 2015


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India gives relief to foreign investors on MAT issue

NEW DELHI - India has waived retrospective imposition of a minimum alternative tax (MAT) affecting foreign funds, the Finance Minister said on Tuesday, a move that could resolve a dispute that had shaken investor confidence.