ECONOMICS

  • 'The notion of individual privacy is effectively dead' 5 days ago

    Davos: Imagine a world where mosquito-sized robots fly around stealing samples of your DNA. Or where a department store knows from your buying habits that you're pregnant even before your family does. That is the terrifying dystopian world portrayed by a group of Harvard professors at the World Economic Forum in...
  • Internet will 'disappear,' says Google's Eric Schmidt 5 days ago

    Davos: Google boss Eric Schmidt predicted on Thursday that the Internet will soon be so pervasive in every facet of our lives that it will effectively "disappear" into the background. Speaking to the business and political elite at the World Economic Forum at Davos, Schmidt said: "There will be so many...
  • Subsidies to be rationalised, joint session on insurance: Arun Jaitley 5 days ago

    Davos: Wooing global investors, Finance Minister Arun Jaitley on Thursday hinted at rationalising subsidies on kerosene and cooking gas, rebuilding credibility of taxation structure and calling a joint session of Parliament to get the insurance bill passed if it is not cleared in the coming session. Laying the fiscal road map...
  • Slide in global oil prices great for India: Economic Professor at Harvard University 6 days ago

    Economic Professor at Harvard University said that investors at the World Economic Forum were buzzing with the names of only 2 countries US and India. ...
  • Sachin Tendulkar invited to speak at World Economic Forum: sources 6 days ago

    According to sources, Bharat Ratna awardee Sachin Tendulkar has been invited by PepsiCo CEO Indra Nooyi to speak on team building and leadership aspects at Davos on Thursday. ...
  • Government to keep up pace on reforms: Arun Jaitley 6 days ago

    Davos: Finance Minister Arun Jaitley assured that the government will keep up pace on reforms but said he doesn't want to build expectations in the run up to the Budget. "I am not building up the expectations but yes we are going to keep up the pace. I have already...
  • Economic ties, defence deals to top the talks during Obama's India visit 6 days ago

    Washington: US President Barack Obama will arrive in India on Sunday for the second time, to build on what he calls one of the 'defining relationships of the 21st Century'. Here are some key areas likely to be discussed during his visit: Strategic importance India's size, location, fast-growing economy and potential as a...
  • Automation to cause temporary replacement of jobs: Vishal Sikka 6 days ago

    Davos: As companies are moving towards automation, Infosys CEO Vishal Sikka on Wednesday said that there would be temporary replacement of jobs and lower IT costs. Sikka, who was speaking as a panelist in a session on 'Inclusive Growth in the Digital Age' at the World Economic Forum, said that...
  • India's power sector set for $250 billion investment, says Piyush Goyal 6 days ago

    Davos: Confident about foreign and domestic investors participating in a big way in the Indian growth story, Union Minister Piyush Goyal on Wednesday said that the country's power sector is set for $250 billion investment across different segments. Speaking on the sidelines of the World Economic Forum (WEF) meeting, Goyal...
  • Modi government to present its second Union Budget on February 28 1 week ago

    New Delhi: Prime Minister Narendra Modi's government will present its second General Budget on February 28 while the Economic Survey will be out a day earlier on February 27. The Railway Budget will be unveiled on February 26, four days after the start of Parliament's Budget Session. The session will start...
  • World Bank trims estimate of Ebola economic cost 1 week ago

    Washington: The World Bank trimmed its estimates of the economic damage of the Ebola epidemic on Tuesday, but warned that the three main affected countries would still bear a heavy cost. After warning last October that the outbreak, which has killed more than 8,600, could wreak $25 billion in economic losses...
  • India's growth rate will increase by 6.3 per cent this year, surpass China's by 2016: IMF January 20, 2015

    Washington: India is expected to grow at 6.3 per cent this year and 6.5 per cent in 2016 by when it is likely to cross China's projected growth rate, the IMF said while terming the new government's reforms as "promising" but insisted that their implementation is key. In 2014, India's growth...
  • Every fishing vessel in India's EEZ to be tracked: Manohar Parrikar January 19, 2015

    Panaji: The government is working on a "special mechanism" to track all vessels operating in India's Exclusive Economic Zone (EEZ), Union Defence Minister Manohar Parrikar said on Monday. "Any vessel entering India's exclusive economic zone will be tracked through a special mechanism. Every fishing boat will be given an electronic identity...
  • World Bank cuts global economic outlook despite oil price drop January 14, 2015

    Washington: The World Bank on Tuesday lowered its global growth forecast for 2015 and next year due to disappointing economic prospects in the euro zone, Japan and some major emerging economies that offset the benefit of lower oil prices. The global development lender predicted the global economy would grow 3 percent...
  • India on the cusp of a second economic revolution, says Jagdish Bhagwati January 14, 2015

    Mumbai: Renowned economist Jagdish Bhagwati said that India is on the cusp of a second economic revolution. Speaking exclusively to Network18, Bhagwati praised Prime Minister Narendra Modi and the first steps taken by his government. He expects the Modi government to soften it's stance on FDI in retail sector. He also...
  • World Bank projects 6.4 per cent economic growth in India in 2015 January 11, 2015

    Gandhinagar: Indian economy is likely to grow at 6.4 per cent in 2015 and accelerate further in the next year on the back of steps being taken by the Narendra Modi-led NDA government, World Bank President Jim Yong Kim said on Sunday. Speaking at the...
  • Global slow growth opportunity for India, says Arun Jaitley January 7, 2015

    Kolkata: Observing that India needs to create an environment for cyclic investments and ease norms of doing business, Union Finance Minister Arun Jaitley on Wednesday pointed to the ongoing global slow growth as an opportunity for the country as investors are eyeing its market. If the Union Minister, during his address...
  • Rupee drops to one-week low of 63.41 vs dollar, down 12 paise January 5, 2015

    Mumbai: The Indian rupee on Monday reacted downwards by 12 paise to log nearly one-week closing low of 63.41 against the Greenback on weakness in local equities amid fresh dollar demand from importers. A firm dollar overseas too weighed on the rupee even as participants took heart from renewed capital inflows...
  • Esther Duflo wins Infosys Prize for Social Sciences for work in development economics December 30, 2014

    Professor Esther Duflo has won the Infosys Prize for Social Sciences for her pioneering work in the field of development economics and her team's contribution in shaping social policies in India. She's the first non-Indian to win the award. ...
  • RBI pitches for structural reforms; sees 6 per cent inflation in 2015 December 29, 2014

    Mumbai: Pitching for structural reforms to reinforce investor confidence, RBI on Monday said falling inflation and political stability have helped check the macroeconomic vulnerabilities, while retail inflation is expected to stabilise near 6 per cent level in 2015. The central bank, however, flagged lower revenue mobilisation this fiscal as a...
  • Political obstruction makes PM Modi's road to reform a rocky one December 24, 2014

    New Delhi: Parliamentary obstruction scuppered Prime Minister Narendra Modi's economic agenda in a month-long session that ended on Tuesday, and the prospect of further deadlock means he will find it hard to deliver quickly on promises of reform. Lawmakers left without voting on a long-delayed Bill to raise the cap on...
  • Third-quarter US economic growth strongest in 11 years December 24, 2014

    Washington: The US economy grew at a 5 per cent clip in the third quarter, its quickest pace in 11 years and the strongest sign yet that growth has decisively shifted into higher gear. Some of the strength appears to have been sustained, with other data on Tuesday showing consumer spending...
  • Barack Obama's year-end message to Americans: I'm not a lame duck December 20, 2014

    Washington: If US President Barack Obama is feeling the pain from a rough year at the office, he did a great job of covering it up on Friday. Before boarding Air Force One for a vacation in Hawaii, the President gave a year-end news conference with a spring in his step,...
  • IMF agrees to release $ 1 billion to Pakistan December 18, 2014

    Washington: The International Monetary Fund (IMF) has agreed to release another USD 1.05 billion in financial assistance to Pakistan as part of its effort to help the country overcome economic crisis. With this, the total disbursements under the arrangement is about USD 3.2 billion, a statement said after the IMF Executive...
  • Maharashtra CM orders probe against Ajit Pawar, Sunil Tatkare in irrigation scam December 12, 2014

    Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Friday gave a green signal to the states anti-corruption bureau to conduct an open enquiry against former deputy chief minister Ajit Pawar and state Nationalist Congress Party (NCP) president Sunil Tatkare in the irrigation scam. The Maharashtra Irrigation scam was a government scam which...
  • India against Russia sanctions, to add vigour to ties in Putin-Modi meet December 6, 2014

    New Delhi: As Russia grapples with a floundering sanctions-hit economy, India set the tempo for Russian President Vladimir Putin's two-day India visit next week, saying that it has clearly spelt out that it "cannot be party" to any economic sanctions against its old friend. Putin is visiting India on December 10-11...
  • A change in the monetary policy stance is likely early next year: Raghuram Rajan December 2, 2014

    The Indian economy is finally showing signs of being back on track. Falling crude oild prices have helped but the RBI Governor is yet to cut rates and wants more time. ...
  • Is the Indian economy on the path of good times? December 2, 2014

    The Reserve Bank of India (RBI) has set a target of 6 per cent for consumer price index by 2016, said RBI Governor Raghuram Rajan adding that inflation is near comfort zone. So now the question arises Is the Indian economy on the path of good times? ...
  • Nawaz Sharif kicks off China-Pakistan Eco Corridor with motorway project November 30, 2014

    Islamabad: China and Pakistan have kicked off their multi-billion dollar Economic Corridor project that passes through Pakistan-occupied Kashmir (PoK) by laying the foundation of a fenced four-lane motorway, setting in motion a mammoth project connecting the two countries. Pakistan Prime Minister Nawaz Sharif performed the groundbreaking of a section of the...
  • GDP growth set to weaken, business wants reforms more than rate cut November 27, 2014

    Mumbai: Anticipating data out on Friday will show weakening economic growth, the finance ministry will argue for an interest rate cut, but bankers and company executives say the key to recovery lies in how fast Prime Minister Narendra Modi acts on reforms. "Interest rates are also important, but more important is...