NEW DELHI - U.S.-based economist Arvind Subramanian is poised to be named as chief economic adviser to Prime Minister Narendra Modi's government, two sources at the finance ministry said on Friday.
MUMBAI - The Reserve Bank of India (RBI) said it would conduct more frequent term repos but retained the overall borrowing limit for lenders, in a bid to make borrowing more flexible without injecting additional liquidity into markets.
NEW DELHI - Government officials painted an upbeat picture for the economy on Thursday as it struggles to emerge from the longest spell of sub-par growth in decades and promised to tighten up risk management at the country's dominant state banks.
WASHINGTON - U.S. home resales raced to a 10-month high in July and the number of Americans filing new claims for jobless benefits fell last week, signaling strength in the economy.
MUMBAI - The Reserve Bank of India (RBI) reiterated on Thursday its commitment to bring down the consumer price index to 6 percent by January 2016, saying it was ready to use monetary policy to address high inflationary expectations and sticky core inflation.
BEIJING - Growth in China's vast factory sector slowed to a three-month low in August as output and new orders moderated, a preliminary private survey showed on Thursday, heightening concerns about increasing softness in the economy.
- The head of the San Francisco Federal Reserve said on Thursday the U.S. labor market has improved a lot but he held steady his view that the Fed should wait to hike interest rates until the summer of next year.
MUMBAI - The Reserve Bank of India (RBI) is tweaking its policies recognising the need for affordable housing and other essential real estate sectors, Deputy Governor R. Gandhi said on Wednesday.
WASHINGTON - The Federal Reserve has been surprised by how quickly the U.S. labor market is healing but doesn't want to bring forward a planned rate hike until the recovery looks more convincing, according to minutes of its last policy meeting.
LONDON - China's economy is slowing. The euro zone's is a flat line. Japan's sank in the second quarter. Britain has wage deflation. The U.S. economy is ticking over at best.
MUMBAI - The Securities and Exchange Board of India (SEBI), India's capital markets regulator, has ordered property developer PACL Ltd to return at least $8.1 billion raised from retail investors after finding the company had failed to register its land investment scheme.
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article