Economy

CMS holds Global Interfaith Convention to promote communal harmony

China’s economy accelerates as virus recovery gains strength

2:29 pm October 19, 2020

Beijing: China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions. The world’s second-largest economy expanded by 4.9% over a year ago in the three months ending in September, official data showed Monday. Retail spending rebounded […]

Digital payments soar manifold in 5 years to FY20: RBI

6:55 pm October 11, 2020

Mumbai: Concerted efforts by the Reserve Bank to move to a non/less-cash economy by pushing digital payments have begun to pay rich dividends as the volume of such payments has jumped manifold in the past five years, the latest data from the central bank showed. Between 2015-16 and 2019-20, digital payments have grown at a […]

RBI keeps interest rates on hold; raises limit for gold loans

2:09 pm August 6, 2020

Mumbai: The Reserve Bank of India (RBI) on Thursday kept interest rates unchanged to help tame inflation that in recent times had surged past 6 per cent mark, and said that the economy is in an extremely weak condition following the pandemic. The central bank also allowed lenders to restructure corporate and MSME loans as […]

Surging US coronavirus cases raise fear that progress is slipping

8:18 am June 23, 2020

ST PETERSBURG: Alarming surges in coronavirus cases across the U.S. South and West raised fears Monday that the outbreak is spiraling out of control and that hard-won progress against the scourge is slipping away because of resistance among many Americans to wearing masks and keeping their distance from others. Confirming predictions that the easing of […]

Thousands without heat, water after tornadoes kill dozens

Trump administration extends visa ban to non-immigrants

7:54 am June 23, 2020

Washington: The Trump administration on Monday extended a ban on green cards issued outside the United States until the end of the year and added many temporary work visas to the freeze, including those used heavily by technology companies and multinational corporations. The administration cast the effort as a way to free up jobs in […]