Economy and Policy

  • India's government has asked state-controlled National Aluminium Co Ltd (NALCO) to re-think its overseas expansion plans including a proposal to set up a $2 billion smelter unit in Iran, a top official said on Wednesday.     "Value addition should happen in India and we should be self sufficient in aluminium instead of …

  • The Federal Reserve Building in Washington

    Investors may be expecting a U.S. interest rate increase in December, but Federal Reserve policymakers remain divided over whether the economy is mired in a rut, strong enough to withstand an immediate hike or hovering somewhere in between. The Fed raised rates last December for the first time in nearly a decade, and many …

  • OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. "OPEC made an exceptional decision today ... After two and a half years, OPEC reached consensus to manage the market," …

  • A boy prepares to jump off a rock into the waters of the Osman Sagar Lake near Hyderabad

    Centuries ago, Indian princes would bathe in the cool Kazhipally lake in Medak. Now, even the poorest villagers here in India's baking south point to the barren banks and frothy water and say they avoid going anywhere near it. A short drive from the bustling tech hub of Hyderabad, Medak is the heart of India's antibiotics …

  • A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport

    Oil prices settled up nearly 6 percent on Wednesday after OPEC struck a deal to limit crude output at its policy meeting in November, its first agreement to cut production since 2008 and after the market crashed on oversupply. The Organization of the Petroleum Exporting Countries reached agreement to limit its production …

  • Federal Reserve Chair Janet Yellen was thrust into the election-year boxing ring during a congressional committee hearing on Wednesday, defending the central bank's regulatory role, taking and landing punches on Wells Fargo and other banks considered too big to fail, and addressing accusations of political conflicts of …

  • A statue is seen next to the logo of Germany's Deutsche Bank in Frankfurt

    The German government denied that it was working on a rescue of Deutsche Bank after a newspaper report about such plans fuelled fears over the future of the biggest lender in Europe's largest economy. European Central Bank President Mario Draghi said that the bank's low interest rate policies were not to blame for the …

  • New Delhi, Sep 28 (IANS) The government on Wednesday said the Inland Water Authority of India (IWAI) has entered into three separate memorandums of understanding (MoUs) to develop the National Waterways ...

  • Gas firm GAIL (India) Ltd has bought three cargoes of liquefied natural gas (LNG) for deliveries in November and December, two trade source said. GAIL has bought two cargoes for November from Shell and GAIL Global (Singapore) Pte Ltd, the trading subsidiary of the Indian firm, the sources said, adding Qatar's Rasgas would …

  • New Delhi, Sep 28 (IANS) The government on Wednesday said it will not agree to the proposed Global Market-based Measure (MBM) of the International Civil Aviation Organization (ICAO) to limit civil aviation ...

  • Scotland's last major steelworks reopened under the ownership of industrialist Sanjeev Gupta on Wednesday, heralded by Nicola Sturgeon's government as proof that the country can draw investment and protect industry in difficult times. Liberty Steel bought the 144-year-old Dalzell plant in Motherwell and its sister works …

  • BRUSSELS/FRANKFURT (Reuters) - EU antitrust regulators on Wednesday raised a raft of concerns over the proposed $28 billion merger between Deutsche Boerse and the London Stock Exchange, saying it could hinder competition in key financial market activities. The European Commission said it would investigate over the next …

  • A man walks past various currency signs outside a brokerage in Tokyo

    Armenia does not often take the global financial spotlight but a routine rate cut by the tiny former Soviet republic this week marked a global milestone - the 200th case of policy easing worldwide since the start of last year. Fifty seven central banks have cut rates or pumped stimulus into their economies since January …

  • French financial regulators offered on Wednesday to speed up the process of registering financial firms leaving London for France by handling their files in English. The French government and regulators are eager to attract banks and other financial firms from London after Britain's EU exit vote, which could deprive them …

  • Labourers push a handcart loaded with sacks of sugar at a wholesale market in Kolkata

    NEW DELHI/MUMBAI (Reuters) - India's sugar production in the 2016/17 marketing year is likely to drop below consumption levels for the first time in seven years, although ample carry-forward stocks will help the country meet local demand, an industry body said on Wednesday. India could produce 23.37 million tonnes sugar …

More »