Sanctions on Iran: Oil prices hit highest in years

Singapore:  Oil prices clocked up more multi-year highs as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market. The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 […]

Indian Economy Growing at 7.4% in 2018: IMF

Washington: The International Monetary Fund (IMF) reaffirmed that India will be the fastest-growing major economy in 2018, with a growth rate of 7.4 percent that rises to 7.8 percent in 2019 with medium-term prospects remaining positive. The IMF’s Asia and Pacific Regional Economic Outlook report said that India was recovering from the effects of demonetisation […]

Trump abandons ‘defective’ Iran nuclear deal

Washington: President Donald Trump pulled the United States out of an international nuclear deal with Iran, raising the risk of conflict in the Middle East, upsetting European allies and casting uncertainty over global oil supplies. Trump said in a televised address from the White House that he would reimpose U.S. economic sanctions on Iran to […]

Chidambaram appeals to states to come out against 15th Finance Commission

New Delhi: Congress leader P. Chidambaram urged the Finance Ministers of all states across the country to sign a memorandum against the terms of reference (ToR) of the 15th Finance Commission. The former Union Minister also welcomed the statement of the Finance Ministers of six states/Union Territories — Andhra Pradesh, Puducherry, Delhi, West Bengal, Punjab, […]

Money laundering: Misa Bharti produced before Delhi court

New Delhi: Rashtriya Janata Dal (RJD) Chief Lalu Prasad’s daughter Misa Bharti and her husband Shailesh Kumar were produced before the Patiala House Court in connection with a money laundering case worth Rs. 8,000 crore. At the hearing, the Special CBI judge Arvind Kumar issued a production warrant against another accused, Santosh Jha, and listed […]

Oil prices above $70 since 2014

Washington: U.S. oil rose above $70 a barrel for the first time since November 2014 as traders braced for a re-imposition of U.S. sanctions on the Middle East crude producer Iran. Futures in New York and London jumped as much as 1.4 percent. While President Donald Trump has threatened he’ll pull out of a deal […]

Price caps on Medical Devices : India rejects US request

New Delhi:  India has told the United States it won’t abstain from capping prices for more medical devices, regardless of pressure to rethink its stance after price controls on heart stents and knee implants spoilt the market for some U.S. firms, sources familiar with the matter said. India’s drug pricing authority is also pushing to […]

GST: Revenue collection in April landmark,  Jaitley

New Delhi: Finance Minister Arun Jaitley has termed the GST Revenue collection in the month of April as a landmark achievement. In a tweet, Finance Minister Jaitley said that it’s a confirmation of increased economic activity as brought out by other reports. GST collections in April exceeded Rs 1 lakh crore which was around Rs […]

Aircraft IL38 in Russia for overhaul, mid-life upgradation: Navy

New Delhi: The Indian Navy responded to reports of its plane, Il-38, making a crash landing in Russia, saying that the aircraft was in the country for overhaul and mid-life upgradation. “The aircraft is in Russia for Overhaul (OH) and Mid Life Upgradation (MLU). No Indian Navy crew was onboard during the sortie though they […]