Fundamentals of economy ‘very very strong’: CEA

Chief economic advisor (CEA) K V Subramanian on Wednesday called upon the industry to start making investments, stressing that the fundamentals of the economy are “very very strong”. On more than Rs 40,000 crore of dues pending to small companies, he nudged large corporates to ensure timely payment to the MSME sector as small players … Read moreFundamentals of economy ‘very very strong’: CEA

‘US concerned about untrackable China ships carrying Iran oil’

The White House is warning Chinese shipping companies against turning off their ships’ transponders to hide Iranian oil shipments in violation of US sanctions, two senior administration officials said. China is the largest remaining buyer of Iranian oil after US President Donald Trump reimposed sanctions on Tehran’s main export. Please follow and like us:

Can’t sacrifice eco strength for US sanctions: FM

India wants to comply with global sanctions, including US sanctions on Venezuela and Russia, but also needs to maintain its own strength and strategic interests, finance minister Nirmala Sitharaman said in an interview on Tuesday. She said that while India is a strategic partner of the US but “you want a strategic partner to be … Read moreCan’t sacrifice eco strength for US sanctions: FM

Mumbai airport operator’s books under government lens

Ministry of corporate affairs has ordered an inspection of Mumbai International Airport Ltd’s (MIAL) books of accounts. MIAL is a step-down subsidiary of infrastructure major GVK Group. TV reports had suggested a whistleblower’s complaint led to the investigation as inspection of books by MCA is uncommon and typically takes place after a preliminary probe. Please … Read moreMumbai airport operator’s books under government lens

Oil minister Pradhan flexes India’s market muscle for better OPEC terms

At a meeting with OPEC secretary-general Mohammad Sanusi Barkindo here, oil minister Dharmendra Pradhan sought lower OSP (official selling price), credit period of 90 days against 30 days at present, freight discount and open credit based on credit worthiness of Indian state-run refiners who are the main importers. Please follow and like us:

Singh brothers said Rs 1k cr siphoned off in RFL case

The economic offences wing (EOW) of Delhi Police told a court here on Tuesday that Fortis Healthcare’s former promoters Malvinder Singh and his brother Shivinder, arrested for allegedly misappropriating funds of Religare Finvest Ltd (RFL), have disclosed that an amount of about Rs 1,000 crore has been transferred to various persons from the entities linked … Read moreSingh brothers said Rs 1k cr siphoned off in RFL case

Despite slowdown India retains fastest-growing tag, alongside China: IMF

In the gloomy global economic picture painted by IMF, India retains its rank as the world’s fastest-growing major economy, tying with China, with a projected growth rate of 6.1% for the current fiscal year, despite an almost 1% cut in the forecast. However, the IMF’s World Economic Outlook released on Tuesday projected India’s economy to … Read moreDespite slowdown India retains fastest-growing tag, alongside China: IMF

IMF revises India’s growth projection to 6.1 % in 2019

The International Monetary Fund (IMF) on Tuesday slashed India’s GDP growth projection for the year 2019 to 6.1 per cent, which is 1.2 per cent down from its April projections. The IMF in April said India will grow at 7.3 per cent in 2019. However, three months later it projected a slower growth rate for … Read moreIMF revises India’s growth projection to 6.1 % in 2019

Sensex rises 292 points to close at 38,506; Nifty at 11,428

Equity indices on Tuesday ended in green with the benchmark BSE sensex rising over 250 points, led by gains in auto, financial and FMCG stocks, amid sustained foreign fund inflow. The 30-share BSE index rose 291.62 points or 0.76 per cent to end at 38,506.09. While, the broader NSE Nifty closed 87.15 points or 0.77 … Read moreSensex rises 292 points to close at 38,506; Nifty at 11,428

Indian stocks have lowest dividend yield: Refinitiv

Indian stocks are the least attractive in terms of dividend returns in Asia, Refinitiv data shows, which could prompt some investors to shy away from the country’s equity markets. The large and mid-cap stocks’ forward dividend yield ratio stood at 1.7% on Tuesday, the lowest in Asia, according to the data. Please follow and like … Read moreIndian stocks have lowest dividend yield: Refinitiv