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WPI inflation spikes to 3.18% in March on costlier food, fuel

PTI New Delhi Wholesale price inflation rose to a 3-month high of 3.18 per cent in March on costlier food and fuel, government data released Monday showed. The Wholesale Price Index (WPI)-based inflation was at 2.93 per cent and 2.76 per cent in February and January this year, respectively, and 3.46 per cent in December 2018. It was 2.74 per …

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Jet pilots, engineers joining SpiceJet at 30-50% pay cut

IANS New Delhi Low-cost carrier and top rival SpiceJet appears to be making the most of the crisis at Jet Airways. Spicejet is now hiring engineers and pilots at much lower pay than their current salaries at the financially-troubled Jet. Industry sources said that pilots from Jet Airways are being asked to take salary cuts of 25-30 per cent, while …

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South Korea’s second biggest air carrier to be up for sale

XINHUA Seoul Asiana Airlines, South Korea’s second-biggest air carrier, would be put up for sale in the near future as its parent company, Kumho Asiana Group, was struggling with liquidity crunch and massive debts. Kumho Asiana Group decided to sell off its flagship unit of Asiana Airlines through the board of directors’ meeting of Kumho Industrial, the largest shareholder of …

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Asian markets resume rally on earnings hopes, trade optimism

AFP Hongkong Asian markets chalked up healthy gains Monday as investors cheered a strong start to the US earnings season, while Donald Trump’s treasury chief indicated trade talks with China were in their end-stage. The gains put a regional equities rally back on track after last week’s stutter, supported by data last week showing a sharp jump in credit growth …

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RBI injected Rs 2.98 lakh cr liquidity in 2018-19

IANS New Delhi The Reserve Bank of India injected a total liquidity of Rs 2.98 lakh crore in the market in 2018-19, one of its reports said on Thursday. From a daily net average surplus of Rs 27,928 crore during February 1 to February 6, 2019, systemic liquidity moved into deficit during February 7-March 31, reflecting the build-up of government …

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Naidu warns bad loans can threaten economic growth

UNI New Delhi Vice President M Venkaiah Naidu on Friday noted the challenges being faced by the banking industry, including rising Non Performing Assets (NPAs) in the banking system, saying that the accumulation of bad loans over a long period of time could threaten economic growth by weakening the credit supply channel of the economy. Addressing the gathering at the …

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Industrial output growth drops to 20-month low of 0.1% in Feb

PTI New Delhi Industrial output growth slowed to a 20-month low of 0.1 per cent in February, mainly due to contraction in the manufacturing sector, official data showed Friday. Factory output, as measured in terms of the Index of Industrial Production (IIP), had grown by 6.9 per cent in February 2018, according to data released by the Central Statistics Office …

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India has scope for cutting food, fertiliser subsidies: IMF

IANS United Nations India has a lot of scope for reducing some food and fertiliser subsidies, while also taking steps to ensure that the growth is inclusive and poverty is reduced, according to Paul Mauro, the International Monetary Fund’s (IMF) fiscal affairs deputy director. Asked at a news conference in Washington on Wednesday about the impact that “populist” election promises …

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Jaitley discusses reforms, prospects with investors

UNI New York Finance Minister Arun Jaitley has discussed India’s ongoing economic reforms and  prospect for the future with investors in New York, Jaitley is in the US to attend the April 12-14 IMF-World Bank meeting in Washington. “Since arrival in New York Finance Minister held a series of round tables with the investors community of New York on India’s …

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