Asian shares drop after China's dramatic sell-off

Shares in Asia opened in negative territory today after mainland China saw a dramatic sell-off the previous day. In its biggest drop in eight years, the Shanghai Composite had tumbled more than 8 per cent on growth concerns.US stocks overnight took the cue from the insecurity in China and the Dow Jo...

Govt to discuss SIT recommendations on P-notes with SEBI, RBI; Status quo prevails

To soothe nerves of jittery foreign investors after an SIT on black money suggested stricter norms for P-Notes, the Government today said that they will not take any "knee-jerk" reaction that will adversely impact country's investment climate. Finance Minister Arun Jaitley...

Iran invites Indian investments worth USD 8 billion in infrastructure projects

Iran has invited Indian investments worth 8 billion US dollars in infrastructure projects. Iranian Ambassador Gholamreza Ansari said in New Delhi that India should take advantage of the time before the western countries start making their investments after lifting of sanctions in the next 3-5 months...

EU bans marketing of around 700 generic medicines<br/>

European Union has banned the marketing of around 700 generic medicines for alleged manipulation of clinical trials conducted by India&apos;s pharmaceutical research company GVK Biosciences. The ban will come into effect on August 21. According to Germany&apos;s drug regulator, the Federal I...

Prime Minister says that without the development of the eastern states, the country cannot prosper

Prime Minister Narendra Modi said that there should not be any politics in development. He appealed states to co-operate with the Centre to speed up development.Mr Modi stressed that without the development of the eastern states, the country cannot prosper. He said, that the Centre would leave no st...

Prime Minister says that without the development of the eastern states, the country cannot prosper

Prime Minister Narendra Modi said that there should not be any politics in development. He appealed states to co-operate with the Centre to speed up development.Mr Modi stressed that without the development of the eastern states, the country cannot prosper. He said, that the Centre would leave no st...

Greece submits an official request to IMF for a new loan

Greece has submitted an official request to the International Monetary Fund, IMF, for a new loan as it seeks a huge third bailout from its creditors. Greek Finance Minister wrote a letter to the Managing Director of IMF, seeking a new loan facility. The debt-crippled Greek government, led by radical...

WTO members reach a landmark agreement, to cut tariffs on IT products worth more than 1 trillion dollars

World Trade Organisation, WTO, has said that after years of talks, major exporters of IT products have agreed to cut tariffs in its sector. It said the highlights include elimination of majority of tariffs within three years on products ranging from GPS systems to touch screens. In a statement issue...

Forex reserves down by USD 1.03 bn to USD 353.33 bn

SIT asks SEBI to clamp down on tax evaders, P-Note misuse

The Special Investigation Team, SIT on black money has asked Securities Exchange Board of India, SEBI to identify real owners of foreign funds coming through the Participatory-Note route and also prosecute those using equities for tax evasion. In its third report on steps required to check the black...