Economy

Why Argentina’s economy is in trouble again

Argentina’s president Mauricio Macri has overseen reforms This wasn’t supposed to be happening to Argentina. The election, three years ago, of the moderniser Mauricio Macri as president was hailed as proof that what was once Latin America’s richest economy was getting back on its feet. Now, after the country’s central bank raised interest rates for the third time in a ... Read More »

California’s economy passes UK’s to become world’s fifth biggest

People visit Santa Monica beach in Los Angeles county. Photograph: Greg Balfour Evans / Alamy/Alamy California’s economy has surpassed that of the United Kingdom to become the world’s fifth largest, according to new federal data made public on Friday. Despite having a population of only 40 million compared with the UK’s 65 million people, California’s gross domestic product of $2.7tn ... Read More »

Jobless Rate Looks Like Old Times, but the Economy Doesn’t

A worker at Neenah Foundry in Neenah, Wis., which has been turning out metal products for generations. Fifty years ago, manufacturing accounted for one in four jobs; now it’s not even one in 10.CreditDamon Winter/The New York Times By Natalie Kitroeff May 4, 2018 The last time the unemployment rate fell below the 4 percent threshold was in 2000, during a ... Read More »

Fitch Holds India’s Sovereign Rating At Lowest Investment Grade

New Delhi: Global credit rating agency Fitch on Friday affirmed India’s sovereign rating at ‘BBB-‘ with ‘stable’ outlook, saying that the country’s medium-term growth potential is strong. ‘BBB-‘ rating indicates lowest investment grade. “India’s rating balances a strong medium-term growth outlook and favourable external balances with weak fiscal finances and some lagging structural factors, including governance standards and a still-difficult, but improving, business ... Read More »

Indian economy will continue to have V-shaped recovery: Govt

Economic affairs secretary Subhash Chandra Garg. Photo: Pradeep Gaur/Mint Mumbai: The 7.2% growth in the Indian economy during the October-December quarter has put the country in the highest growth bracket globally and recovery will continue to be sharp going ahead, economic affairs secretary Subhash Chandra Garg said on Thursday. “We have said this earlier that the first quarter (of FY18) was ... Read More »

Indian Economy Seems To Be On Way To Recovering From Demonetisation Disruptions, Says IMF

India’s economy has expanded strongly in recent years, said Tao Zhang, Deputy Managing Director of IMF. HIGHLIGHTS IMF has underscored the significance of reforms in education, health Economy expanded strongly because of macro economic policies Demonetization temporarily affected economic activity, said IMF Dy MD Washington: The Indian economy now seems to be on its way to recovering from disruptions caused by ... Read More »

Fresh troubles for the Indian economy

Are we out of the woods as far as economic growth is concerned? Is the Indian economy on track to accelerate from here on? A month ago, the general consensus was that the worst was over and things were going to get better from here on. The Index of Industrial Production (IIP) was steadily inching up. The economy seemed to ... Read More »

Govt notifies new accounting standard that comes into effect on April 1

Companies will have to adopt more detailed revenue recognition ways from April 1 as the government has notified a new accounting standard. The corporate affairs ministry has notified Indian Accounting Standard (Ind AS) 115 which would be effective from the new financial year, starting Sunday. According to experts, Ind AS 115 will help in more transparent accounting of revenues and ... Read More »

Dark net, bitcoin being used to smuggle drugs: Report

The “increasing” trend of using the ‘dark net’ and bitcoins to smuggle pharma medicines and illicit drugs to untouched segments of the population and youngsters in the country is becoming a new challenge for anti-narcotics agencies, a latest report has revealed. The “loose regime” of the sale of over-the-counter drugs and some select ayurvedic preparations is a trend that drug ... Read More »

Hiranandani family to invest Rs 3,500 crore in oil and gas projects

Niranjan Hiranandani’s family is investing around Rs3,500 crore to build liquified natural gas (LNG) terminals in Maharashtra and West Bengal, in a diversification for the Mumbai-based developer who built the iconic 250-acre Hiranandani Gardens township in suburban Powai. Led by Darshan Hiranandani, Niranjan’s son, H-Energy (formerly known as Hiranandani Energy) expects to start commercial operation of its first LNG terminal ... Read More »