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Battle to build $116 billion global defence bank faces major hurdles

Canada-backed DSRB aims to raise $116 billion to finance defence projects, but limited commitments from major economies threaten its funding and credit-rating ambitions

US Treasury's Bessent faces G20 diplomacy test amid tariffs, Iran war

The unresolved conflict has kept the Strait of Hormuz closed, sapping growth from nearly all G20 economies

HDFC Bank likely to name deputy MD Kaizad Bharucha, outsider for CEO

The CEO search comes after about six months of upheaval at HDFC Bank where leadership issues have weighed on its shares

US govt to take 35% stake in Venezuelan mogul Betancourt's oil venture

The US also plans to secure preferential rights to purchase 20% ‌of the company's production ​at cost

OpenAI to end deal with SpaceX-owned Cursor, deepening Musk-Altman clash

We are making ‌this choice because we cannot be confident that ​SpaceX will use technology within ​our terms of service, based on our experience with Musk's companies violating contracts, OpenAI said

Chipmaker CXMT sues Pentagon over 'Chinese military company' designation

CXMT's lawsuit seeks to overturn the designation and remove itself from a Pentagon list that can trigger government contracting restrictions and reputational damage

Nepal needs help in technical areas, not search and rescue: Foreign min

Shisir Khanal said Kathmandu needs foreign help in areas such as rescuing people ​stuck in tunnels, opening transport and communication services

Donald Trump signs order to create US Space Academy amid space race push

Trump said the academy would help train the service members, engineers and civilian operators needed as ​the US Space Force and commercial space industry ​grow and Washington expands its ambitions

Packaged food, drink market faces stricter front-of-pack labelling

The regulator has proposed a ‌red-coloured hexagonal shape for food products ​which are high in ​any two or more nutrients - fat, sugar or salt - it ​said reportedly in a Supreme Court filing

US judge won't immediately block Trump's new birthright citizenship order

US District Judge rejected immigrant rights advocates' request to temporarily halt Trump's latest order limiting eligibility for birthright citizenship.

Obituary: Norway's reform-minded head of state, King Harald V, dies at 89

Harald, who was Europe's oldest living monarch, was taken to hospital on August 17. The palace said he was being treated for a bacterial infection in his blood.

Alphabet's Google changes spam policy in EU to avert antitrust fine

The US tech giant found itself in EU regulators' crosshairs after publishers complained about its site reputation abuse ‌policy.

Iran presses other countries to refrain from implementing US sanctions

Iran called on the ​international community to uphold the rule of law and ​said Tehran would use all its ‌capabilities to defend itself against ‌a combined US-Israeli military and economic assault

Will Warsh's Jackson Hole speech be a course correction or detour?

At issue is whether he can maintain his less-is-better approach to monetary policy communications or feels compelled to provide at least a rough roadmap of how he views elevated inflation

Sebi plans bigger institutional role in public offers by small firms

The regulator is also mulling raising the limit on the size of ​companies that can list on platforms dedicated to small firms and mandating larger operating profit requirements before listing

'Don't need help': Nepal rejects foreign rescue teams after flash floods

The flood tore through areas including Rasuwa district near ‌the Chinese border, levelling entire towns, damaging hydropower projects ​and killing close to 500 ​people

Anthropic in talks with chip startup MatX to speed up chip design

As Anthropic scales its Claude ​family of AI models, the firm is looking to produce hardware that can fulfill its voracious appetite for data crunching and reduce its reliance on Nvidia chips

US judge blocks Pentagon's Anthropic blacklisting in AI safety dispute

Hegseth's unprecedented move, which ​blocked Anthropic from certain military contracts, followed Anthropic's refusal to allow the military to use its Claude AI models ​for US surveillance

Oil prices on track for weekly loss despite simmering Iran tensions

Brent crude futures were down 25 cents, or 0.3%, to $89.45 a barrel while West Texas Intermediate crude futures fell 22 cents, also 0.3%, to $83.31

Nvidia forecasts 70% sales growth in 2027, signals AI boom has years to run

"AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue," Nvidia Chief Executive Jensen Huang said.