Home Economy

Economy

The portrait of Mahatma Gandhi is displayed on an Indian 2000 rupee banknote in an arranged photograph in Bangkok, Thailand

Rupee is Asia’s best performing currency but expected to weaken after polls

The currency has shown a tendency to flip directions after polls have been completed, according to a study.

Jet Airways stock plummets by a record 34% day after operations are suspended

Jet Airways shares fell 8.1 percent to Rs 240.50 Tuesday. They declined 13 percent in 2019 after losing two-thirds of their worth in 2018.
An aircraft operated by Jet Airways India Ltd. | Dhiraj Singh/Bloomberg

Jet Airways lenders hopeful of successful bidding day after airline suspends operations

Banks Wednesday rejected an immediate Rs 400 crore demand of Jet Airways, compelling it to ground operations.

New govt should review RBI’s inflation goals, says PM Modi’s economic adviser

PM Modi’s Economic Advisory Council Rathin Roy says India will need to decide whether the inflation target band of 2% to 6% is too wide.
Mukesh Ambani, billionaire and chairman and managing director of Reliance Industries Ltd., pauses during a panel session at the World Economic Forum (WEF) in Davos, Switzerland

Reliance considering to sell 25% of refinery business to Aramco and Adnoc

Mukesh Ambani’s Reliance Industries Ltd. could fetch at least $10 billion in the refinery business deal, according to sources.
India's working class

India’s jobless rate doubled while it’s growth was world-beating since 2011, says study

After remaining at about 2-3% during the decade to 2011, the jobless rate increased to more than 6% in 2018, a report by the Azim Premji University shows.

‘Challenging and lonely’ path of women CEOs slowly gets busier

The small but growing class of female CEOs, includes GM’s Marry Barra and Best Buy’s Corie Barry, who could create the critical mass needed to pull other women to the top of the corporate ladder.
Sensex

Sensex, Nifty scale new life-time closing highs

Investors are in an intense buying mode for the fourth session in a row on near-normal monsoon forecast and bumper corporate earnings optimism.
A crude oil tanker from Kharg Island oil terminal in the Persian Gulf, Iran | Bloomberg

Iran’s biggest oil clients put imports on hold as they wait to see if US extends waivers

Most Asian buyers are avoiding imports for next month as it’s unclear what will happen to the exemptions that expire in the first week of May.
The Reserve Bank of India (RBI) logo is displayed on a gate at the central bank's headquarters in Mumbai, India

Monsoon worries are a new headwind for bond rally

Predictions for below-average rain by a private forecast has raised spectre of increasing food costs combining with higher oil prices.

On Camera

tiktok app

Google, Apple stop TikTok downloads: Is HC order quashing small town India’s creative joy?

Google and Apple have blocked downloads of the video-sharing app TikTok in India in compliance with the Madras High Court order.

Defence

Satellite images suggest that China is testing and weaponising its naval platforms for space denial

China is now testing laser ASAT weapons from its naval ships

China has already tested missile & EMP anti-satellite weapons from the ground. Now it’s using icebreaker ships in the Yellow Sea/Bohai Sea area.
National interest

Imran Khan’s ‘support’ for Modi shows BJP has walked into its own Pakistan trap

Modi & the BJP hope to return to power by exploiting the fear of Pakistan. Imran Khan has turned the tables and become a factor dividing Indian public opinion.