Economy News

Cuba rues about US sanctions, complains of $144bn damage

Cuba rues about US sanctions, complains of $144bn damage

Havana: The US trade embargo against Cuba has caused more than $144 billion in losses for the island nation's economy in the past six decades, Foreign Affairs Minister Bruno Rodriguez said.The burden of mounting financial, economic and trade sanctions, "for a small economy like Cuba's, is an overwhe...

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Read these offers from property developers for home buyers this covid season

Read these offers from property developers for home buyers this covid season

New Delhi: As the pandemic and the lockdowns brought housing demand to a halt, festivities seemed just apt for real estate developers to attract buyer interest and sell off inventory.Builders across the country have come up with easy payment plans, subvented interest rates, construction allowance, a...

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Third voice for another fiscal stimulus, this time from Niti Aayog

Third voice for another fiscal stimulus, this time from Niti Aayog

New Delhi: It has barely been three days but the industry seems to have rallied for a second fiscal stimulus package. On Thursday, NITI Aayog Vice Chairman Rajiv Kumar called for the next round of stimulus package from the government.He said the next fiscal stimulus should be focused on infrastructu...

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Consumer confidence in October still weak finds study

Consumer confidence in October still weak finds study

New Delhi: With no signs of reprieve from the pandemic in near future and economy yet to show major indications of a revival, India's consumer confidence has declined by 0.3 percentage points in October 2020, as per the monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI).The monthly PCSI...

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Power demand jumps 6 percent, first time after lockdown phase

Power demand jumps 6 percent, first time after lockdown phase

New Delhi: Easing of lockdown curbs lifted India's energy demand in September after a decline of six months, said India Ratings and Research (Ind-Ra) on Thursday.In a report on India's power sector, the ratings agency said that in September 2020, the all-India energy demand increased 4 per cent YoY ...

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Report: Festive season can economy, but only temporarily

Report: Festive season can economy, but only temporarily

New Delhi: Festival season is expected to give a temporary boost to India's economic prospect, brokerage major Motilal Oswal Financial Services said.Accordingly, the brokerage firm's EcoScope report said favourable base effect, pent-up demand and strong inventory re-building in the hope of a grand f...

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For 11.58 Railways' staff, here is the Bonus

For 11.58 Railways' staff, here is the Bonus

New Delhi: The good news for Indian Railways employees is approval from a Union Cabinet for bonus equivalent to 78 days wages for financial year 2019-20.In a statement, the Railway ministry said, "About 11.58 lakh non-gazetted railway employees have been granted bonus equivalent to 78 days wages for...

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A Gold rally is unlikely until 2021

A Gold rally is unlikely until 2021

Mumbai: It is unlikely that Gold could repeat the awe-inspiring rally that it achieved in the month of August.Gold rallied over $2,000 levels ($2,072.50). In India's domestic markets, the price shot off beyond Rs 55,500. That, the rally of over 15 percent was observed in a few trading sessions, prom...

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Agri-ministry intervention on pesticide import policy could save Rs 3,000 cr

Agri-ministry intervention on pesticide import policy could save Rs 3,000 cr

New Delhi: Highlighting that the policy to allow the import of readymade formulations without registering the technical grade pesticides will rob Indian farmers' of income and scuttle the dreams of 'Atmanirbhar Bharat', the Pesticides Manufacturers & Formulators Association of India (PMFAI) has ...

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India's FDI inflows increased after lockdown and April policy tweak

India's FDI inflows increased after lockdown and April policy tweak

New Delhi: The pandemic of Coronavirus and a nationwide lockdown that began in March did not dampen India's FDI inflows.In fact, a crucial policy tweak in April, also may not have affected FDI inflows.Latest data from India's Commerce Ministry reveals inflows into India in the form of Foreign Direct...

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