17
Tuesday
July 2018
5:35 AM IST
News Headlines
Rajinikanth Supports 'One India, One Election' Proposal        Trump asked me to sue EU over Brexit, says Theresa May        Haiti prime minister resigns after deadly unrest        Mukesh Ambani beats Alibaba's Jack Ma to become richest man in Asia        Djokovic beats Anderson, wins 4th Wimbledon title        Thailand Open Super 500: PV Sindhu loses to Nozomi Okuhara in final        France clinches World Cup with win over Croatia        H-1B visa alert: Donald Trump makes things worse for Indian techies        World Cup: Belgium beat England 2-0 to finish 3rd        PV Sindhu makes final of Thailand Open, Okuhara awaits        Angelique Kerber defeats Serena Williams to win Wimbledon 2018        Former A.P. Chief Minister Kiran Kumar Reddy returns to Congress        If Delhi tries to break PDP, outcome will be dangerous: Mehbooba Mufti        Former PM Nawaz Sharif, daughter Maryam arrested for corruption in Lahore        Social media hub like creating surveillance state: SC        World Cup: Deflated England, Belgium get ready for third place clash        First time in winter: FIFA confirms 2022 World Cup to be held between November and December in Qatar        Mental strength carried Croatia to World Cup final, says Lovren        Kohli currently best batsman because Smith not there: Ponting        Rupee up 19 paise against dollar ahead of key macro data release        
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Business News
Delhi, Bangalore, Chennai among cheapest cities globally: EIU
 
(New Delhi, Mar 15, 2018): Three Indian cities -- New Delhi, Bangalore and Chennai -- are among the cheapest cities in the world, according to an Economist Intelligence Unit (EIU) survey, that named Singapore as the most expensive city.

As per the Worldwide Cost of Living 2018 survey, South Asian cities, particularly those in India and Pakistan offers the best value for money. Bangalore, Chennai, Karachi and New Delhi featured among the 10 cheapest locations surveyed.

"India is tipped for rapid economic expansion, but in per-head terms, wage and spending growth will remain low. Income inequality means that low wages are the norm, limiting household spending and creating many tiers of pricing as well as strong competition from a range of retail sources," the report noted.

Moreover, cheap and plentiful supply of goods into cities from rural producers with short supply chains as well as government subsidies on some products, has kept prices down, especially by Western standards, the report noted.

Syria's capital, Damascus is the cheapest city in the world. Joining Damascus at the bottom is Venezuela's capital, Caracas and Kazakhstan's business centre, Almaty, in the second and third position respectively.

Others in the 10 cheapest cities list include Lagos at the 4th place, Bangalore (5th), Karachi (6th), Algiers (7th), Chennai (8th), Bucharest (9th) and New Delhi (10th).

"Although the Indian subcontinent remains structurally cheap, instability is becoming an increasingly prominent factor in lowering the relative cost of living of a location. This means that there is a considerable element of risk in some of the world's cheapest cities," it added.

Singapore retained its title as the world's most expensive city for the fifth consecutive year. Singapore was ranked ahead of Paris placed second on the list, Zurich (3rd) and Hong Kong (4th).

As per the report, Oslo is the 5th most expensive city in the world, followed by Geneva (6th), Seoul (7th), Copenhagen (8th), Tel Aviv (9th) and Sydney (10th).

The Worldwide Cost of Living is a biannual Economist Intelligence Unit survey that compares more than 400 individual prices across 160 products and services. These include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.(PTI)


Mukesh Ambani beats Alibaba's Jack Ma to become richest man in Asia
Rupee up 19 paise against dollar ahead of key macro data release
Sensex rallies 400 pts to hit record high; RIL shares surge 5%
US dollar ends cheaper against rupee
BSNL starts first internet telephony service in India
Silver futures harden by 0.19% on global cues
Passenger vehicle sales rise 38% in June; car sales up 34%
DoT clears Idea-Vodafone merger with conditions
Goyal asks Coal India to ensure supply for power sector
Higher MSP may have inflation, fiscal costs: Report
Modi govt needs to shed 'obsession' with economic growth: Jean Dreze
Will work closely with West Bengal for its progress: Prabhu
Mukesh Ambani announces high-speed broadband, Jio Phone 2 with WhatsApp, FB
Gadkari flags off taxi ambulance services
India expecting US to get in touch with it over sanctions on Iran
Nifty ends higher, hovers around 10,700-mark
No plans to close operations at Brady House branch in Mumbai: PNB
India to provide tariff concessions on 3,142 items to APTA members
Exports seem to have good performance in June: Prabhu
WhatsApp's 'one-way' broadcast mode for group chats is here
KERALA NEWS
Kerala among 13 states on thunderstorm alert
 (New Delhi, May 7, 2018): Thunderstorms accompanied by squall, hail and heavy rains are likel  
Kerala Karshaka Jadha Opens to a Great Beginning / Video
Malappuram press club attack: RSS workers nabbed
Workers injured in mudslide at construction site
INTERNATIONAL NEWS
Trump asked me to sue EU over Brexit, says Theresa May
 (London, July 15, 2018):Embattled British Prime Minister Theresa May today revealed that Dona
Haiti prime minister resigns after deadly unrest
Former PM Nawaz Sharif, daughter Maryam arrested for corruption in Lahore
After UK-US spats, Trump flies in to turmoil in Britain
NATIONAL NEWS
Rajinikanth Supports 'One India, One Election' Proposal
 (Chennai, July 15, 2018):At a time when major political parties in Tamil Nadu are opposed to
Former A.P. Chief Minister Kiran Kumar Reddy returns to Congress
If Delhi tries to break PDP, outcome will be dangerous: Mehbooba Mufti
Bombay HC pulls up Pune cops over probe into Rajneesh's 'will'
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