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Latest Economy & Business News

PPF Accounts to be closed For NRI’s And Interest Lowered To 4 percent

According to the new rules issued by the Indian Government on small savings schemes, there will be a change of the difference in interest rates between an Indian and an NRI. As a result, a person will no longer be able to earn the same rate of interest on PPF…

Reliance Communications offers unlimited data and calls at Rs 299/month

To keep the fight for the holding grip of Indian telecom market, younger of the Ambani brothers of Reliance Communication has come up with a new cheap rental plan. Keeping up a distinguishing comparison with the latest prepaid offers offered by different telecom networks Reliance Communication has introduced a new…

Why Rupee Is The Best Currency Than Others Against Dollar?

The Rupee is the best performing currency among all, regardless of dollar’s fallback. It has risen up to 6% against the greenback this year. After showing a growth in US non-farm payrolls by 209,000 jobs and June’s employment last month, dollar posted its biggest one day gain in July. The…

Interest On Provident Fund Reduced

It has been declared by EPFO that interest on provident funds have been dropped from 8.8 percent to 8.65 percent for the present financial year 2016-2017 hence citing lower surplus. The decision was taken after a thorough discussion with all investors was what Dattatreya, CBT chairman had stated. He also…

Visa Defeats PayPal In Transaction Completion Status

Tug of war between Visa Inc and PayPal leaves the latter disappointed with statistics being in favor of the former. Visa Inc officially made a statement that shoppers who are availing their payment service are as much as 17 percent more likely to complete their purchases than the ones who…

Currency Crisis Leading To Stocks Crashing Globally

Worries, worries and worries. This has been the slogan in the economic world since the Great Repression started in 2008. Equity markets worldwide took a downward dive since last few days. There is devaluation of Australian dollar and rupee to dollar rate is also at their 13 months lowest.  …

Downfall in US Stocks: Worst Scenario in Last Four Years

As per the recent reports on US stocks, it has crashed more than 2% for the second session, as Dow Jones Industrial Average dropped much more than 500 points. The sudden downfall in the US stocks has raised fears of economic slowdown globally. Most markets from US to China have…

Revenues Drop in All Major Nigerian Telcos

nigerian telecom

The availability of multiple applications like BBM, Skype, WhatsApp are eating up the revenues of major Nigerian Telecommunication companies. With the budding apps, calling and short message services have taken the back seat and as a result, the telecommunication companies are facing a massive loss of revenue. A recent report…

Will Federal Reserve Increase Rate With News Of US Housing Market Recovery

Signs of recovery seemed evident as construction of new homes increased a lot in the month of July, may be highest since the Great recession started in the year 2007. As a result, treasury yields went up to the highest on Tuesday since last week as latest data on home…

Softbank Invests In The Biggest Ever E-Commerce Deal In India

SoftBank, a Japan-based telecom and Internet giant declared on Monday that it has invested $627 million in Snapdeal, India’s third biggest online marketplace. The announcement was made a day after SoftBank declared it would invest $10 billion in India in the next few years making India its topmost priority. This…

Biggest Job Cuts in Microsoft To Follow

Microsoft job cut, microsoft pink slip

After many, it is the mighty Microsoft that is to cut up jobs. According to the reports obtained it is going to cut up as many as 18,000 jobs, a scenario unprecedented in the company’s 39 year history. The biggest job cut’s lion share will be from its phone unit…

BRICS to Unveil New Bank As Substitute To Western Dominance

BRICS leaders launched a $100 billion development bank and a currency reserve pool on Tuesday as a means of a big step forward towards formation of an alternative to Western-dominated international system of finance. The bank will give funds for infrastructure projects in developing nations based in Shanghai and India…

Citigroup To Pay $7 billion To US Authorities

Citigroup, a leading giant in the banking sector has decided to pay $7 billion to the US authorities to settle an investigation in to risky sub-prime mortgages. Detailed reports convey that it will be paying $4 billion to the department of Justice and $2.5 billion will be allocated for consumer…

Japan’s Trade Deficit Quadrupled In March

Disastrous trade deficit of Japan quadrupled in March with export growth slowing down and energy exports surging high. The weak Japanese currency was also a driving force and contributed to widen the gap and pushing the cost of imports high. Japan’s Trade Deficit Quadrupled In March is published on 2014-04-23T20:34:31+05:30…

Record Confidence Level Empowers UK Housing Market Growth

Rising activity in the housing market empowered by boost from government loan schemes has led to consistent growth in the UK construction sector in March, 2014. A report suggests that such a growth accompanied house builders’ confidence to highest levels after the financial crisis. Experts say that the rising house…

The Top Ten Gold Holding Nations

International financial statistics has some interesting news up their sleeves. The reports have come up with a fact that the biggest hoarders of gold are some of the most advanced nations in the globe. The stats obtained last year reveal that gold demand reached a great height of 3756.1 metric…

SpiceJet Places $4.4 billion Order For Buying 42 Boeing 737

The Spice Jet has placed an order of 42 Boeing’s 737 max aircrafts worth $4.4 billion deal. Spice Jet is India’s fourth biggest airline with the increase in its market share by 7%. Spice Jet is now expecting more and more new investors. Spice Jet was struggling a lot to…

People Still Prefer To Keep Money With Sahara After Subrata Roy’s Arrest

Dhirendra Kumar CEO, Value Research said that he had an interesting conversation with one of the depositors of Sahara some 24 hours after Sahara’s Subrata Roy was arrested at the command of the Supreme Court. He was even willing to do the deposits in future too. He knows many people…

Record Rise In Unemployment Rate Worries Italy

Italy’s newly formed Prime Minister faces strong challenge of high unemployment rates that had reached to a record height in January earlier on. This is clearly a bad indication which hints that the companies may fail to hire, even though the economy returned to a steady growth in the last…

Car Prices Goes Down, Aspirants Left With A Quarter Year To Fulfill Desire

Car prices in India are going to get cheaper by fairly handsome amounts after the interim budget presented by Finance Minister P. Chidambaram in the Lok Sabha. Since it is the interim budget and the present government term is going to end soon, the revised price will be effective till…