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South Korea parliament's majority votes to impeach acting president Han

After Han's impeachment, Finance Minister Choi Sang-mok is next in line to assume the acting presidency, according to South Korean law

Rupee hits record low of 85.395 on strong NDF dollar bids; RBI may step in

Rupee declined to 85.3950 to the dollar, eclipsing its previous all-time low of 85.2825 hit on Thursday

Bird flu virus shows mutations in first severe human case in US: CDC

Last week, the United States reported its first severe case of the virus, in a Louisiana resident above the age of 65, who was suffering from severe respiratory illness

Japan's cabinet approves record $730 billion budget for next fiscal year

But record tax revenue is likely to help reduce new bond issuance to 28.6 trillion yen, the lowest since 2008

China's President Xi Jinping will visit Russia in 2025, says Russian envoy

China, working with Brazil, has put forward a peace plan for the Ukraine war, calling for a freezing of battle lines and taking into account the security interests of both sides

Workers at BYD construction site victims of human trafficking: Brazil

BYD and contractor Jinjiang Group have agreed to assist and house the 163 workers in hotels until a deal to end their contracts is reached, Brazil's Labour Prosecutor's Office said

BPCL plans $11 billion refinery project in southern Andhra Pradesh

India wants to emerge as a major refining hub supplying fuel to the global markets as Western companies are cutting crude processing capacities in favour of energy transition

Budget 2025: Govt may cut income tax rates to lift consumption, says report

The move could benefit tens of millions of taxpayers, especially city dwellers burdened by high living costs, if they opt for a 2020 tax system that strips exemptions like housing rentals

It's up to Trump team to make first move to improve ties, says Russia

Trump's designated Ukraine envoy, retired Lieutenant-General Kellogg, told Fox News on Dec. 18 that both sides were ready for peace talks and that Trump was in a perfect position to execute a deal

Azerbaijan Airlines flight likely downed by Russian air defences: Reports

Flight J2-8243 crashed down on Wednesday in a ball of fire near the city of Aktau in Kazakhstan after diverting from an area of southern Russia

Nato calls for investigation of Azerbaijan Airlines crash that killed 38

An Embraer passenger jet crashed near the city of Aktau in Kazakhstan on Wednesday, killing 38 people

US weekly jobless claims fall 1,000 to 219,000: Labour department

Initial claims for state unemployment benefits fell by 1,000 to a seasonally adjusted 219,000 for the week ended Dec. 21, the Labor Department said

China revises up 2023 GDP by 2.7%, sees little impact on 2024 growth

In previous five-yearly economic censuses, China revised up the size of the economy for 2018 by 2.1 per cent and for 2013 by 3.4 per cent

Banks' balance sheets stay robust, bad loans decline more: RBI report

The report said that net bad loans of banks fell to 0.57 per cent of total loans at September-end, from 0.62 per cent at end-March, driven by stronger loan-loss buffers

Russian bank VTB says on track for record profit of $5.5 billion in 2024

Bank said it was still on track to hit profit target of 550 billion roubles in 2024 despite a significant depreciation in the value of many of its assets in November as a result of monetary tightening

Russia's CBRF to resume regular forex operations under budget rule in 2025

Under Russia's budget rule, the finance ministry sells foreign currency from its rainy day National Wealth Fund (NWF) to make up for any shortfall in revenue from oil and gas exports

World Bank raises China's GDP forecast for 2024, 2025; adds some warnings

Thanks to the recent policy easing and near-term export strength, the World Bank sees China's gross domestic product growth at 4.9 per cent this year, up from its June forecast of 4.8 per cent

Foiled Ukrainian plots to kill senior officials, their families: Russia

FSB, the main successor to the Soviet-era KGB, said that the Russian citizens had been recruited by the Ukrainian intelligence services

South Korea opposition says it will vote to impeach acting President Han

The court is trying the impeachment of President Yoon Suk Yeol over his Dec 3 declaration of martial law

China's first batch of 2025 fuel export quota flat compared to a year ago

State-owned oil firms Sinopec and CNPC, the key receivers of these quotas, were given combined allowances of 13.34 million tonnes, or 70 per cent of the 19 million tonnes