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Economy, Government & Policy

  • (Bloomberg) -- Prime Minister Narendra Modi delivered a pro-growth budget for the coming year, with a wider deficit projection, in an effort to boost Asia’s third-biggest economy while retaining subsidy ...

  • An index that measures China's manufacturing activity went up slightly in February but still showed contraction amid China's economy slowdown, according to official data released Sunday. The latest monthly ...

  • Weak China Factory Data Underscores Rate Cut Moves Bloomberg - 2 hours 46 minutes ago

    The government’s manufacturing Purchasing Managers’ Index was 49.9 last month from 49.8 in January, according to the statistics bureau and the China Federation of Logistics and Purchasing in Beijing. An interest-rate reduction announced late Saturday comes days before an annual gathering of China’s lawmakers, who will …

  • Containers are seen at a port of Shanghai Free Trade Zone

    Activity in China's factory sector contracted for a second straight month in February on unsteady exports and slowing investment, an official survey showed on Sunday, reinforcing bets that more policy loosening is needed to lift the economy. Accounting for 48 percent of China's $10.2 trillion (6.6 trillion pounds) economy …

  • Activity in China's factory sector contracted for a second straight month in February on unsteady exports and slowing investment, an official survey showed on Sunday, reinforcing bets that more policy loosening is needed to lift the economy. A separate official services PMI, also released on Sunday, showed growth …

  • Activity in China's factory sector contracted for a second straight month in February, according to an official survey released on Sunday, only hours after the Chinese central bank cut interest rates to try to boost slowing momentum. A housing slump, erratic export performance and a state-led slowdown in investment …

  • German Finance Minister Wolfgang Schaeuble told a German newspaper he was sure the Greek government would be able to fulfil the conditions attached to its bailout but warned that it would receive no further aid if it did not keep its promises. "The new Greek government has a lot of legitimacy with the population. I have …

  • AP Interview: Greece's repayments to ECB need discussion

    Greece will prioritize debt repayments to the International Monetary Fund, some of which come due in March, but repayments to the European Central Bank are "in a different league" and will need ...

  • Republicans attacking Janet Yellen should be careful what they wish for, says Larry Kudlow.

  • The one-year deposit rate will be lowered by 25 basis points to 2.5 percent and the one-year lending rate will also drop by a quarter percentage point to 5.35 percent on March 1, the Beijing-based People’s Bank of China said on its website late Saturday. By adding rate cuts to a reduction in the cash banks must set aside …

  • China's central bank cuts rates again to boost economy

    China's central bank cut interest rates for the second time in three months Saturday, adding to signs the country's leaders are worried the economic slowdown is deepening too sharply. The People's Bank ...

  • China cuts benchmark interest rate @ Financial Times - 13 hours ago

    China cut benchmark interest rates on Saturday for the second time in three months as worries mount about slowing growth and the threat of deflation. The People's Bank of China, the central bank, cut the ...

  • The broader NSE index (.NSEI) ended up 0.65 percent at 8,901.85 points. At one point while Finance Minister Arun Jaitley was speaking, the index was up 1.1 percent, and later it was down as much as 1 percent. The NSE index rose 0.8 percent in a week marked by budget anticipation, while gaining 1.05 percent in February, …

  • Chinese national flag flutters at the headquarters of a commercial bank on a financial street near the headquarters of the People's Bank of China, China's central bank, in central Beijing

    China's central bank cut interest rates on Saturday, just days before the annual meeting of the country's parliament, in the latest effort to support the world's second-largest economy as its momentum slows and deflation risks rise. The central bank said the 25 basis point cut in the benchmark interest rate to 5.35 percent …

  • Greek PM Tsipras delivers a speech at the ruling Syriza party central committee in Athens

    Greece's leftist Prime Minister Alexis Tsipras accused Spain and Portugal on Saturday of leading a conservative conspiracy to topple his anti-austerity government, saying they feared their own radical forces before elections this year. Tsipras also rejected criticism that Athens had staged a climbdown to secure an extension …

  • Mark your calendars: That partial shutdown of the Department of Homeland Security, originally set for Friday at midnight, has been tentatively rescheduled for March 6. Because while the Senate managed on Friday to pass a bill to fund the department for the rest of the year, the House of Representatives did not, instead …

  • An employee poses with the bundles of Indian rupee notes inside a bank in Agartala

    Indian businesses, recovering from years of sluggish growth, welcomed budget plans on Saturday that will cut the corporate tax rate and introduce a single national goods and services tax (GST) to replace a complex array of local duties. Executives said measures announced by Finance Minister Arun Jaitley in the budget for …

  • Indian bonds are vulnerable to mild falls on Monday after the government unveiled a budget that seeks an additional year to meet its medium-term fiscal deficit target to give it time to focus on economic growth by ramping up investments. The federal budget also left major welfare schemes untouched, while only cutting fuel …

  • Telecommunication towers are pictured through hanging flower pots at a residential building in Kolkata

    The government expects revenue of 428.66 billion rupees ($6.95 billion) from the telecoms sector, including from auctions of its airwaves, during the next fiscal year to March 2016, the annual budget showed on Saturday. The government has yet to give details on the spectrum auctions to be held during the next fiscal year. …

  • India's FM Jaitley poses as he leaves his office to present the 2015/16 federal budget in New Delhi

    REUTERS - Finance Minister Arun Jaitley on Saturday unveiled a budget that aims to ramp up growth, aided by a slowed pace of fiscal deficit cuts and a raft of tax measures to put private domestic and foreign ...

  • Moody's sign on 7 World Trade Center tower in New York

    Moody's Investors Service said India's 2015/16 budget unveiled on Saturday was "credit neutral," adding the agency would monitor whether the government can fulfill its pledge to meet its fiscal deficit by boosting economic growth. The government on Saturday pushed back the deadline to cut the fiscal deficit to 3 percent …

  • Indian Finance Minister Jaitley arrives at his office to make the final touches to the federal budget in New Delhi

    Finance Minister Arun Jaitley on Saturday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi's landslide election victory last May, Jaitley said …

  • India's FM Jaitley poses as he leaves his office to present the 2015/16 federal budget in New Delhi

    Indian Finance Minister Arun Jaitley on Saturday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi's landslide election victory last May, Jaitley …

  • India will increase investment in infrastructure by 700 billion rupees ($11.3 billion) in the fiscal year starting April 1, as the state of roads, ports and airports does not match the ambitions of the fastest growing major economy in the world, the government said Saturday in a statement accompanying the release of the …

  • A man looks at a screen across the road displaying the election results on the facade of the BSE building in Mumbai

    The BSE Sensex and Nifty rode a roller-coaster on Saturday, when the budget for the coming fiscal year was present, and they ended the day higher, on hopes the plan will boost growth and corporate taxes will be cut. At one point while Finance Minister Arun Jaitley was speaking, the index was up 1.1 percent, and later it …

  • India's new budget aims to boost growth and infrastructure

    India's finance minister announced the government's new budget on Saturday, promising a slew of measures that attempt to balance welfare spending with high economic growth and infrastructure development, ...

  • A cashier counts currency notes as customers wait inside a bank in Hyderabad

    MUMBAI/NEW DELHI (Reuters) - India will inject 79.4 billion rupees ($1.3 billion) into state-owned banks in the next fiscal year to bolster their capital reserves, a smaller-than-expected sum which means the sector's heavyweights may have to turn to the market or curb lending. Successive governments have poured billions …

  • The India VIX index slumped 13.3 percent to 16.97 in Mumbai at the close of a special trading session for the federal budget. The spread, known as skew, is the highest since Jan. 29, data compiled by Bloomberg show. The Nifty has risen 1.1 percent in February, completing a second month of gains, amid expectations Prime …

  • India's FM Jaitley poses as he leaves his office to present the 2015/16 federal budget in New Delhi

    REUTERS - Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary ...

  • Greek Finance Minister Varoufakis arrives for a government meeting at the parliament in Athens

    Greece called into question on Saturday a major debt repayment it must make to the European Central Bank this summer, after acknowledging it faces problems in meeting its obligations to international creditors. Finance Minister Yanis Varoufakis said Athens should negotiate with the ECB on 6.7 billion euros in Greek government …

  • India's Finance Minister Arun Jaitley arrives at the parliament to present the federal budget for the 2015/16, in New Delhi

    Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. Jaitley set the country's fiscal deficit target for the 2015/16 fiscal year at 3.9 percent of gross domestic …

  • The government will introduce the bill in the current session of Parliament, Finance Minister Arun Jaitley said in his budget speech today. “The first and foremost pillar of my tax proposals is to effectively deal with the problem of black money which eats into the vitals of our economy and society,” said Jaitley. He …

  • Indian Finance Minister Arun Jaitley unveils a budget that aims to ramp up growth aided by a slowed pace of cuts and a raft of tax measures.

  • India's finance minister has announced his government's new budget, promising a slew of measures that attempt to balance welfare spending with high economic growth and infrastructure development while ...

  • India plans to infuse 79.4 billion rupees of capital into state-owned lenders during the fiscal year to March 2016, the annual budget showed on Saturday. For highlights of India's budget:

  • India's gross borrowing is expected to be 6 trillion rupees for the fiscal year 2015/16, according to the budget proposal presented by Finance Minister Arun Jaitley on Saturday. For highlights of India's ...

  • A street side restaurant owner holds a bundle of Indian currency notes as he sits outside his restaurant in New Delhi

    NEW DELHI (Reuters) - Finance Minister Arun Jaitley has proposed increasing the service tax rate and education cess to 14 percent from the current 12.36 percent, when presenting the government's full-year ...

  • India's Finance Minister Arun Jaitley has proposed increasing the service tax rate and education cess to 14 percent from the current 12.36 percent, when presenting the government's full-year budget on ...

  • A private money trader counts Indian Rupee currency notes at a shop in Mumbai

    NEW DELHI (Reuters) - India will abolish wealth tax and replace it with an additional 2 percent surcharge on the country's super rich, Finance Minister Arun Jaitley said on Saturday, when presenting the ...

  • India plans to develop a sovereign gold bond, Finance Minister Arun Jaitley said on Saturday, when presenting the government's full-year budget. For highlights of India's budget:

  • India will abolish wealth tax and replace it with an additional 2 percent surcharge on the country's super rich, Finance Minister Arun Jaitley said on Saturday, when presenting the government's full-year ...

  • A street side restaurant owner holds a bundle of Indian currency notes as he sits outside his restaurant in New Delhi

    NEW DELHI (Reuters) - India has deferred the roll out of anti-tax avoidance rules (GAAR) by two years to April 1, 2017, Finance Minister Arun Jaitley said on Saturday, when presenting the government's ...

  • NEW DELHI (Reuters) - Finance Minister Arun Jaitley has proposed an overhaul of capital gains taxes to pave the way for the listing of Real Estate Investment Trusts (REITs) in the country, when presenting ...

  • “The pound has performed well so far this year, supported by evidence of continued strong cyclical momentum in the U.K. economy,” said Lee Hardman, a foreign-exchange strategist at Bank of Tokyo-Mitsubishi UFJ Ltd. in London.

  • Germany sold five-year notes at an average yield of minus 0.08 percent on Wednesday, a euro-area record, meaning investors buying the securities will get less back than they paid when the debt matures in April 2020. By the next day, German notes with a maturity out to seven years had sub-zero yields, while rates on seven …

  • India's Finance Minister Arun Jaitley has proposed an overhaul of capital gains taxes to pave the way for the listing of Real Estate Investment Trusts in the country, when presenting the government's full-year ...

  • Indian Army's BrahMos weapon systems are displayed during a full dress rehearsal for the Republic Day parade in New Delhi

    NEW DELHI (Reuters) - India plans to spend 2.46 trillion rupees ($40 billion) on the defence sector in 2015/16, Finance Minister Arun Jaitley said on Saturday, when presenting the government's full-year ...

  • India plans to spend 2.46 trillion rupees on the defence sector in 2015/16, Finance Minister Arun Jaitley said on Saturday, when presenting the government's full-year budget. For highlights of India's ...

  • India will allocate 331.5 billion Indian rupees to the country's health sector, Finance Minister Arun Jaitley said on Saturday, when presenting the government's full-year budget. For highlights of India's ...

  • NEW DELHI (Reuters) - India plans to introduce a direct tax regime that is internationally competitive on rates and without exemptions, Finance Minister Arun Jaitley said on Saturday, when presenting the ...

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