Finance

Highlights of the proposed Insolvency and Bankruptcy Code

Union Finance Minister Arun JaitleyFacebook/Arun Jaitley Highlights of the bill for an Insolvency and Bankruptcy Code that was introduced in the Lok Sabha, the lower house of parliament, by Finance Minister Arun Jaitley on Monday: – Consolidates into a single law a host of legislations that deal with the subject; – Aims to speedily adjudicate such cases for higher recovery ... Read More »

World stocks, oil bashed by China worries, North Korea nuclear test

Traders are pictured at their desks in front of the DAX board at the stock exchange in Frankfurt, Germany January 4, 2016. REUTERS/STAFF/REMOTE World stocks fell for a fifth day on Wednesday as China fuelled fears about its economy by allowing the yuan to weaken further and a nuclear test by North Korea added to a growing list of geopolitical ... Read More »

Medium term prospects of NBFCs are not uniform: Gandhi

RBI Deputy Governor R GandhiYouTube The medium term prospects and challenges of non-banking finance companies (NBFC) would differ for different segments, Reserve Bank of India (RBI) Deputy Governor R.Gandhi said on Monday. “In my opinion, the prospects for the sector in the medium term are not going to be uniform. Different segments of the sector are poised for different prospects ... Read More »

Railways may introduce ‘safety cess’ to raise funds for NRSF: Report

The Indian Railways is reportedly planning to impose a “safety cess” to mop up funds for its proposed Rs 1.1 lakh crore non-lapsable National Railway Safety Fund (NRSF) so as to upgrade its infrastructure to improve safety standards and avoid accidents. Even though the railway department is contemplating on seeking about 60% of the funds for the safety programme from ... Read More »

Apple reports over $1.1 bln in App Store sales in holiday season

An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/MIKE SEGAR/FILES Apple Inc said customers spent over $1.1 billion on apps and in-app purchases in the two weeks ending Jan. 3, setting a record for holiday season sales. On New Year’s day alone, customers ... Read More »

Strong U.S. private payrolls data point to economy’s resilience

People wait in line to enter the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York October 7, 2014. REUTERS/SHANNON STAPLETON/FILES U.S. private companies added workers at a brisk clip in December, pointing to underlying strength in the economy despite signs that growth slowed sharply in the fourth quarter. Other data on Wednesday showed a ... Read More »

Wall St falls on China worries, steep drop in oil

Traders work on the floor of the New York Stock Exchange January 5, 2016. REUTERS/BRENDAN MCDERMID U.S. stocks fell on Wednesday as fresh concerns over the impact of a slowdown in China on the global economy, a sharp fall in oil prices and heightened geopolitical concerns sent investors scurrying to safe havens. The year got off to a shaky start ... Read More »

World stocks off on China, North Korea worries; oil slumps

A specialist trader works at his post on the floor of the New York Stock Exchange in New York, January 6, 2016. REUTERS/BRENDAN MCDERMID Stocks across the world fell for a fifth consecutive day on Wednesday as China fuelled fears about its economy by allowing the yuan to weaken further and a nuclear test by North Korea added to a ... Read More »

Chinese stocks: canary or elephant for world markets this year?

An investor stands in front of an electronic board showing stock information at a brokerage house in Fuyang, Anhui province, China, January 6, 2016. REUTERS/STRINGER Canary in the coal mine or elephant in the room? For investors, either idiom could apply to Chinese stocks in what is already shaping up to be a rocky ride for global markets this year. ... Read More »

India services PMI hits 10-month high in December

An employee sets a table inside a restaurant at the Crown Plaza hotel, run by the InterContinental Hotels Group (IHG), in New Delhi January 31, 2014. REUTERS/ANINDITO MUKHERJEE/FILES Growth in India’s services firms rose at its fastest pace in 10 months in December as demand picked up, a business survey showed on Wednesday. The Nikkei/Markit Services Purchasing Managers’ Index surged ... Read More »