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US job growth beats expectations in May; unemployment rate rises to 3.7%

Nonfarm payrolls increased by 339,000 jobs last month, the Labor Department said in its closely watched employment report on Friday

India's forex reserves fall for second straight week at $589.14 billion

Reserves had fallen by $6.05 billion in the week ended May 19, the biggest fall in more than three months

India's April finished steel imports from China hit five-year high

India imported 0.5 million tonnes of finished steel in April - the highest since 2019 - up 38.2% from a year earlier, the data showed

Netflix, Disney and Amazon to challenge India's tobacco rules for streaming

As part of India's anti-tobacco drive, the health ministry this week ordered streaming platforms should within three months insert static health warnings during smoking scenes

Amazon's India, South Asia cloud unit head Puneet Chandok resigns

By Munsif Vengattil and Aditya Kalra

Oil prices rise on possible OPEC+ cuts, progress in US debt ceiling deal

Oil prices rose on Friday in early Asian trade as markets weighed the likelihood of price-supportive OPEC+ production cuts over the weekend amid positive sentiment over US monetary policy

Gambia hires US law firm for action on toxic Indian cough syrup: Report

Gambia has hired a U.S. law firm to explore legal action after a government-backed investigation found that contaminated medicines from India were "very likely" to have caused the deaths of children

Russia says US accessed thousands of Apple's phones in a spy plot

Neither Apple nor the NSA immediately responded to emailed requests for comment outside usual US business hours

Reserve Bank to conduct 14-day VRRR auction worth Rs 2 trillion today

India's banking system liquidity surplus has received a boost over the last few days and rose to Rs 1.76 trillion

GQG adds more Nvidia, considers increasing exposure to Adani, says CIO

Jain said the asset manager is considering raising its exposure to Adani by participating in capital increases the group announced in May.

Higher leasing bills, jet recovery dispute will hit airline costs: AerCap

Tribunal last month granted request from 6th-largest carrier for bankruptcy protection, putting into effect moratorium on its assets that prevents foreign lessors from taking planes out for a year

US manufacturing dips for seventh straight month in May; employment rises

The Institute for Supply Management (ISM) said on Thursday that its manufacturing PMI fell to 46.9 last month from 47.1 in April

Will end monopoly on petrol supplies: Nigeria's NNPC after tripling prices

Nigeria's state owned oil company NNPC will soon end its monopoly on petrol supplies, its chief executive told local television, a day after it nearly tripled prices at its fuel stations countrywide

OPEC+ unlikely to extend oil supply cuts at upcoming June 4 meeting

As the economic outlook worsened, several members of OPEC+ in April pledged voluntary cuts starting from May and to continue to the end of the year

Services exports in April rises by 7.5% on year to $25.84 billion

India's services exports in April rose 7.5% on year to $25.84 billion, while imports recorded a 3.1% decline to $13.63 billion, provisional data published by the Reserve Bank of India showed

India clocks robust SUV sales in May, two-wheeler volumes rise

However, SUV sales have been limited to a certain extent due to supply issues for parts, particularly chips

JPMorgan hikes India's FY24 GDP forecast to 5.5%; warns of global slowdown

The economy also grew at a better-than-expected 7.2% for fiscal 2023

Lanka central bank unexpectedly cuts rates by 250 bps as inflation eases

The index peaked at a 69.8% year-on-year surge in September last year. The national inflation rate was at 33.6% in April, easing from 73.7% in September

China's factory activity swings to surprise growth in May: Caixin PMI

The manufacturing subindexes showed factory output rose at the fastest clip in 11 months while new orders including new exports expanded in May.

Investors relieved as US House passes debt ceiling Bill; Senate in focus

Asian markets were trading higher when the bill cleared the house and held their gains. Investors nudged S&P 500 futures from slightly negative back to flat. Treasury yields rose marginally