US Fed raises interest rate amid strong job market

Washington, Dec 14 : US Federal Reserve has raised the benchmark interest rates for the third time this year and maintained the forecast of three more rate hikes in 2018, as the economy and job market continued solid growth. “In view of realized and expected labor market conditions and inflation, the (Federal Open Market) Committee […]

Global trade conference ends without progress

Buenos Aires, Dec 14 : The 11th Ministerial Conference of the World Trade Organization (WTO) has concluded here with a “disappointing” lack of results, Director-General Roberto Azevedo said. In his speech on Wednesday during the closing session of the biennial meeting, Azevedo regretted the failure of the WTO’s 164 member-nations to reach “substantive agreements”, Efe […]

US lawmakers reach deal on tax cut bill

Washington, Dec 14 : US House and Senate Republicans secured a deal on the final version of a tax cut bill, paving the way for the US Congress to pass the bill and handle a major legislative achievement to President Donald Trump before Christmas. Since the House and Senate passed respective tax cut bills in […]

US stocks end mixed after Fed rate hike decision

New York, Dec 14 : US stocks closed mixed, with the Dow closing at a record high, as the Federal Reserve raised the benchmark interest rate by 25 basis points, the third such increase in 2017. The Dow Jones Industrial Average on Wednesday gained 80.63 points, or 0.33 per cent, to 24,585.43. The S&P 500 […]

SC allows relaxation of ban on pet-coke and furnace oil

New Delhi, Dec 13 : The Supreme Court on Wednesday allowed the Central government to relax its notification banning the use of pet-coke and furnace oil in Uttar Pradesh, Haryana and Rajasthan as it permitted pet coke to be used an an ingredient by the cement and lime industry. In pursuance to the top court’s […]

IT department conducts surveys at Bitcoin exchanges

New Delhi, Dec 13 : The Income Tax (IT) department on Wednesday conducted “surveys” at nine Bitcoin exchanges around the country to gather information about the investors and traders of the crypto-currency. “The department has carried out surveys at nine Bitcoin exchanges located in various cities including Delhi, Mumbai, Pune, Bengaluru, Hyderabad, Ghaziabad and Gurugram,” […]