APN News

  • Thursday, August, 2022| Today's Market | Current Time: 01:03:24
  • Abnormal rate hikes will impact investments, jobs: Pranab

    Finance Minister Pranab Mukherjee on Wednesday supported the gradual approach adopted by the Reserve Bank for tightening monetary policy, saying abrupt rate hikes would scuttle the growth and job scenario. “If the interest rates are hiked abnormally, naturally there will be no investment, there will be no growth, there will be no job creation,” Mukherjee […]

    Indian Economy moving fast towards USD 2 trillion mark

    The Indian economy would grow to USD 1.72 trillion in 2011-12, moving closer towards the USD 2 trillion mark, according to an assessment by the Prime Minister’s Economic Advisory Council (PMEAC). The country’s gross domestic product (GDP) at the market and current prices was measured at USD 1.31 trillion in 2009-10 and is estimated to […]

    China to Continue Exchange Rate Reform: PBOC

    China will continue to reform its exchange rate formation mechanism to consolidate coordinated and sustained economic growth amid a rise in production costs. “The current adjustment in the price of production factors and the reform of the exchange rate formation regime are in accordance with the correct direction of our country’s macro control policy,” wrote […]

    U.S. Fed Survey Shows Slowdown in Economic Recovery

    Economic activity in the United States has continued to increase since early June, but the recovery seems to have lost some momentum in some parts of the country, the Federal Reserve said on Wednesday in its latest survey on business conditions. The survey, known as the Beige Book, was based on economic information supplied by […]

    IMF Hails China’s Policy Response in Financial Crisis

    The “quick, determined and effective” policy response of Chinese authorities has helped mitigate the impact of the financial crisis and ensured that China has led the global recovery, the International Monetary Fund (IMF)has  said. “Executive Directors commended China’s proactive and decisive policy response to the global economic crisis,” the IMF Executive Board said in its […]

    ASEAN Unlikely Fall in Financial Crisis

    The Association of Southeast Asia Nations (ASEAN) is unlikely fall in a financial crisis due to its strong fiscal position, a high-ranking official said in an exclusive interview recently. “The possibility of ASEAN countries falling into the same fiscal debacle is low for now, in my view. This is because ASEAN fiscal position has been […]

    Govt scraps 18 special economic zones

    The government has  informed the Lok Sabha that 18 special economic zones have been scrapped on the back of developers being impacted by the global economic slowdown. “Requests for de-notification by the developers have been approved by the Board of Approval in respect of 18 SEZs…,” Minister of State for Commerce and Industry Jyotiraditya Scindia […]

    Paper on new bank licences by Aug: Subbarao

    The Reserve Bank has said it will come up with a discussion paper on granting banking licence to private sector players and NBFCs by the first week of August. “The discussion paper is on track. We expect to come out by end of this month or first week of August,” Reserve Bank Governor D Subbarao […]

    ‘RBI likely to raise key policy rates tomorrow’

    The Reserve Bank is likely to increase key policy rates by at least 25 basis points in its first quarterly review of the monetary policy on Tuesday to tame inflationary expectations. “I think there could be a small hike in the repo and reverse repo rate of say 25 basis points,” HDFC Managing Director Renu […]

    IOC posts net loss of Rs. 3,388 cr

    Indian Oil Corporation (IOC) on Saturday reported a net loss of Rs. 3,388.39 crore in the first quarter ended 30th June 2010, on account of selling fuel below cost. IOC, the nation’s largest oil firm, had posted a net profit of Rs.3,682.83 crore in the April-June quarter of the last fiscal, the company said in […]