July 01, 2015 15:35 (IST)
A new bailout deal for Greece could be agreed in time for the country to meet a July 20 deadline for the repayment of 3.5 billion euros ($3.9 billion) of bonds to the European Central Bank (ECB), a Eurozone official said on Wednesday.
July 01, 2015 15:01 (IST)
The Greece crisis has evoked fears of a contagion effect in Europe but analysts and policymakers say that India is better placed to handle the storm.
July 01, 2015 14:32 (IST)
Less than 10% of the money was used by the government for reforming its economy and safeguarding weaker members of society
July 01, 2015 13:25 (IST)
Greece was appealing to its Eurozone partners and the European Central Bank (ECB) on Wednesday to keep it afloat after defaulting on its debt to the International Monetary Fund (IMF) and losing frozen international bailout money.
July 01, 2015 12:43 (IST)
A majority of Greeks would vote 'No' to the terms of a proposed bailout deal by foreign lenders but the lead narrowed significantly after banks were closed this week, according to an opinion poll published on Wednesday.
July 01, 2015 12:19 (IST)
Rising bad loans at Indian banks over the past three years amid an economic slowdown has prevented banks from lending more, despite three interest rate cuts by the central bank this year totalling three-quarters of a percentage point.
July 01, 2015 11:31 (IST)
The government will provide a roadmap for ending corporate tax exemptions in next 45 days, Revenue Secretary Shaktikanta Das said on Wednesday, as part of a plan to lower the tax rate to 25 per cent in four years.
July 01, 2015 11:28 (IST)
The Nikkei Manufacturing Purchasing Managers' Index, compiled by Markit, fell to 51.3 in June from 52.6 in May but stayed above the 50-point mark that separates growth from contraction for the 20th month.
July 01, 2015 08:56 (IST)
Flagging subdued rural economy as a 'credit negative' for India's sovereign rating, global giant Moody's on Tuesday said there are growing concerns about risk of policy stagnation and "some disappointment" has emerged over the pace of reforms under the Narendra Modi government.
July 01, 2015 01:56 (IST)
Among the BRICS grouping, GDP growth will range from 7.8 per cent in India to a contraction of 3 per cent in Russia and 1.5 per cent in Brazil this year, said the Global Economic Outlook released by the Fitch Ratings.
July 01, 2015 00:51 (IST)
Although Indian companies have limited direct exposure to Greece, they may feel some pain in the short-term since a slew of them have been tapping international markets for cheaper funding relative to home country, it added.
July 01, 2015 00:31 (IST)
Greece's bailout programme is expected to expire on Tuesday. The debt-burdened country is expected to miss a 1.6-billion-euro ($1.7 billion) debt repayment due to the IMF the same day.
June 30, 2015 18:07 (IST)
The deficit was 45.3 percent during the same period a year ago.
June 30, 2015 18:05 (IST)
India's external debt stood at $475.8 billion as of end-March, up 6.6 per cent from a year earlier, the Reserve Bank of India said in a release on Tuesday.
June 30, 2015 17:59 (IST)
The Reserve Bank of India (RBI) is likely to cut the key interest rate by another 25 bps this fiscal year as retail inflation is likely to be around 5 per cent, global financial services major Citigroup has said in a report.
June 30, 2015 17:28 (IST)
The infrastructure sector accounts for nearly 38 per cent of India's industrial output.
June 30, 2015 17:08 (IST)
The Eurozone has safeguards in place to avoid the contagion which could result from the Greek debt crisis and a possible 'Grexit', or Greece's exit from the Eurozone - even if the exact consequences are still unpredictable.
June 30, 2015 17:07 (IST)
Greece's Finance Minister Yanis Varoufakis said his country would not make the deadline on Tuesday for a key payment to the International Monetary Fund.
June 30, 2015 16:39 (IST)
In its latest 'Inside India' report, Moody's Investors Service said the consensus view on India's economic growth prospects is relatively optimistic -- in line with Moody's baseline scenario of economic expansion of 7.5 per cent in the current fiscal.
June 30, 2015 15:55 (IST)
Greece is staring at the possibility of being shunted out of the euro zone as it is likely to default on its debt payment to IMF or the International Monetary Fund.