Economy

Bitcoin Rebounds, Rises 18% To $11,749

On Wednesday, bitcoin lost over half its peak value as it dropped to $9,850 After posting considerable losses for the two consecutive days, bitcoin (BTC) rebounded to reclaim $11,000 on Thursday. At 8.00 pm, the bitcoin prices trade at $11,749 on the CoinMarketCap. On Wednesday, bitcoin lost over half its peak value (attained exactly a month ago) when it dropped ... Read More »

India To Become $5 Trillion Economy In 8-9 years: Suresh Prabhu

Manufacturing sector contributes 20 percent to India’s economy. (Representational) NEW DELHI: Commerce and Industries Minister Suresh Prabhu today said India is expected to become a $ 5 trillion economy in the next 8-9 years with the manufacturing sector contributing 20 per cent to that. “India is going to be $5 trillion economy in 8-9 years. $1 trillion will come from ... Read More »

Apple Plans New US Campus, Says Will Spend $350 Billion Over Next 5 Years

Apple has for years faced scrutiny and criticism around the world for its tax policies (Reuters) Apple, the world’s most valuable company, said Wednesday it will spend $350 billion in development and create 20,000 jobs in the United States in the next five years, outlining for the first time how it will invest in the U.S. economy following the new ... Read More »

China’s 2017 GDP Accelerates For The First Time In Seven Years

China’s GDP grew 6.8 percent in the December quarter from a year earlier Beijing: China’s economy grew faster than expected in the fourth quarter of 2017, as an export recovery helped the country post its first annual acceleration in growth in seven years, defying concerns that intensifying curbs on industry and credit would hurt expansion. The official growth figures released on ... Read More »

H-1B Visa Holders Drive Innovation, Help Build US Economy: American Lawmakers

Hundreds of thousands of Indians on H-1B visas drive innovation, build and strengthen the US economy WASHINGTON:  Asserting that H-1B visa holders drive innovation and help build and strengthen the American economy, top US lawmakers today backed the Trump administration’s decision that it was not considering any proposal which would force such people to leave the country. “H-1B visa holders, many ... Read More »

PM Modi, Economists Brainstorm On Ways To Revive Growth

The interactive session, organised by NITI Aayog, was attended by PM Modi (File Photo) NEW DELHI:  Prime Minister Narendra Modi today brainstormed with economists and experts on the state of the economy as the government looks to revive growth which is set to hit a 4-year low. The meeting with over 40 economists and sectoral experts came weeks before the NDA-government ... Read More »

Economy on revival mode amid sprouts of green shoots in many sectors; all eyes on FY18 GDP estimates on Friday

How do you spot an economic revival? The earliest signs are visible on the highways. Are there more lorries on expressways ferrying goods across states? Latest data show truck sales grew at a robust pace in December, a sign that transport companies are buying more vehicles to rapidly move goods to meet growing consumer demand. Sample this. Homegrown auto major ... Read More »

Commentary: The ‘Bomb Cyclone’ Could Bomb This Region’s Economy

The 2018 “bomb cyclone” won’t necessarily have the strongest impact on the Northeast U.S., as has been suggested in the media. Instead, the deepest consequences will be felt down map, where wearing heavy gloves and snow boots is not business as usual. The first days of 2018 brought the first snowfall to Louisiana’s Gulf Coast and areas of Florida in 30 years. Of course, ... Read More »

Economy looking up, says Jaitley

The minister assured the members that a positive impact of the reforms like GST and demonetisation would get reflected in the medium to long term. Union Finance Minister Arun Jaitley said in the Rajya Sabha on Thursday that key economic indicators were showing an upward swing. Mr. Jaitley assured the members that a positive impact of the bold reforms like the Goods ... Read More »

China’s new consumption-driven economy isn’t what it seems

Are Chinese consumers really spending heavily? Data suggests it is the rich who are consuming, not the masses. (Photo by Akira Kodaka) BEIJING — China’s transition to an economy driven by consumption, rather than investment, is complete — at least according to the National Bureau of Statistics. Mao Shengyong, a bureau spokesman, on Dec. 14 told reporters that while investment ... Read More »