Riyadh : In an attempt to have an upper hand in the Asian oil market, Saudi Arabia gave a big jolt to Russia and Iran by slashing the oil prices. Saudi Arabia’s largest oil company, Saudi Aramco, has slashed the price by $1.60 per barrel in its supply of oil to Asian countries. Sources say […]
Read More »
Agartala : India’s Railway Minister Suresh Prabhu flagged of the ‘Tripura Sundari Express’ running between New Delhi and Tripura’s capital, Agartala. This rail service will now make direct travel between New Delhi and Agartala possible. The Railway Minister also laid the foundation stone for railway route between Tripura’s Agartala in India and Bangladesh‘s Akhaura. ‘Tripura Sundari Express’ will […]
Read More »
Beijing / New Delhi : The Indian Government has issued an advisory to be cautious when trading with Chinese companies. Just 5 days back 3 Chinese journalists were ordered to leave India. Under these circumstances, the notice issued by India is related to the growing tension between India and China. An official from the Indian Embassy […]
Read More »
New Delhi : India has seen a good 53% increase in Foreign Direct Investment (FDI) over the past two years. It is believed throughout the world that a climate conducive to safe investments in India has been created due to the steps taken to foster the economic growth rate apart from the price stability and […]
Read More »
Ankara – The European Union (EU) is not keeping its promises, accused Recep Tayyip Erdogan, the President of Turkey. EU had announced to finance Turkey with £2.5 bn for carrying out the giving refuge to 3 million Syrian migrants. Outraged on non-receipt of this aid, Erdogan has threatened EU to let loose these migrants into Europe. At the […]
Read More »
New Delhi (PTI) : Indian Finance Minister Arun Jaitley has said that overcoming the adverse impacts on the world economy post ‘Brexit’, India has proved its economical capacity. Finance Minister further expressed his trust in the Indian economy saying that at the global level India has come forward as the safest place to invest. Addressing the Lok Sabha Finance Minister Jaitley assured the House that RBI and SEBI, the regulatory authorities of the Indian banking sector and the stock market are taking proper precautions to keep the investments in India safe in the happenings post ‘Brexit’ and are constantly keeping an eye on the global […]
Read More »
Rome/Brussels : European economists and analysts have claimed that as the Italian banking sector is overburdened with a debt of 350 billion, the Italian economy could also tumble down like that of Greece. The Italian economy is the 3rd largest economy in the ‘Eurozone’. The instability of this economy may lead to uncertainty in the entire […]
Read More »
Islamabad : China is disappointed with Pakistan as work on the China Pakistan Economic Corridor(CPEC)is progressing at a very slow speed. China has pressurised Pakistan by openly condemning it for the delay in the CPEC project. At the same time‘The Dawn’a news daily of Pakistan, published a report that hints on the disagreement between the government […]
Read More »
Mumbai: On the background of the declaration made by the Indian Government in the last month regarding the new policy for the textile industry, ICRA Ltd. has estimated that textile exports would increase by 6% in the financial year 2016-17 reaching US $40 billion. The increasing demand for the cloth and the price hike of the thread will lead to increase in exports, estimates the credit rating agency. Even after the financial volatility at the global level there will be a rise in exports of the country, expects ICRA. The decreasing cost of cotton and fibre has lead to decrease in the growth of textile sector. It is estimated that there will be a decrease in the exports of raw cotton in the year 2016-17. However, there is an expected rise in the textile exports at the same time. In order to face the increasing competition in the textile exports, the co-operation extended by the government would lead in the increase of textile exports, said Anil Gupta, Vice Chairman of the corporate sector rating, ICRA. He further said that along with the textile exports there would be an increase in the export of the cloth used for household decorations. He expects that the price hike of fibre in the current year as compared to that of the previous year will prove beneficial to this sector. In the current financial year, there has been a fall in the textile exports by 6% in the first two months bringing the exports at $5.7 billion. But, the scenario would change in the coming few months as estimated by the experts. There has not been much difference in the past three years in the overall textile exports of India. In the year 2014-15 the exports were $41.4 billion, whereas in the year 2013-14 the figure was $39.31 billion. However it is believed that the co-operation from the government will help in increase of exports.
Read More »
Caracas : Venezuela, a Latin American country whose economy is known to be mainly dependent on oil is now facing acute shortage of food and essential commodities, creating chaos in the country. In the last two days, 125 thousand of Venezuelans are desperate to leave their country and enter neighboring Colombia for their basic needs like […]
Read More »
