economy

India’s government named Shaktikanta Das, a seasoned financial bureaucrat, as the new governor of the Reserve Bank of India (RBI) on Tuesday, replacing Urjit Patel, whose abrupt resignation roiled financial markets.

Hammond opposes easing rules to boost finance after Brexit Dec 11 2018

Britain will remain a pre-eminent global financial centre after Brexit with an agile, but not lax, system of financial regulation, Chancellor Philip Hammond said on Tuesday.

IMF warns storms clouds gathering for global economy Dec 11 2018

One of the International Monetary Fund’s top officials warned on Tuesday that storm clouds were gathering over the global economy and that governments and central banks might not be well equipped to cope.

ECB wins court's backing for bond-purchase program Dec 11 2018

The European Central Bank won a landmark court case on Tuesday as the European Union’s top judges backed its multi-trillion- euro purchases of government bonds after a complaint by a group of German eurosceptics.

China November loans top forecasts but other credit gauges at record lows Dec 11 2018

China’s banks extended more new loans than expected in November after a sharp drop the previous month, in a sign that recent government pressure on lenders to help struggling smaller firms may be starting to bear fruit.

German economic sentiment improves but Brexit, trade risks weigh Dec 11 2018

German economic sentiment picked up in December, the ZEW research institute said on Tuesday, but it warned that fourth quarter growth was set to be subdued and cautioned of the risks to exports from Brexit and the international trade dispute.

French government hikes 2019 deficit target: Minister Dec 11 2018

The French government now expects a 2019 budget deficit of 2.5 percent of economic output excluding the one-off impact of transforming a payroll tax rebate into a permanent cut, the budget minister said on Tuesday.

India Inc's overseas direct investment drops 35 per cent to USD 1.05 billion in November Dec 11 2018

India Inc's overseas investment fell 35 per cent over the year to USD 1.05 billion in November, data from the Reserve Bank showed Tuesday.

Government appoints Shaktikanta Das as RBI governor for three years Dec 11 2018

Das, who was earlier the economic affairs secretary, will be the RBI governor for a period of three years. He is a 1980-batch Indian Administrative Services officer from the Tamil Nadu cadre.