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Crashed plane was shot at from Russia, says Azerbaijan Prez Ilham Aliyev

President Vladimir Putin on Saturday apologised to Aliyev for Wednesday's "tragic incident" in Russian airspace involving the plane after Russian air defences engaged Ukrainian attack drones

ECB likely to delay next rate cut due to recent increase in inflation

Euro zone annual inflation accelerated in November to 2.2 per cent from 2.0 per cent a month earlier and above the ECB's 2 per cent target rate

Passengers claim hearing bangs before Azerbaijan plane crash that killed 38

Previous disasters include the shooting down of Ukraine International Airlines Flight PS752 in 2020 by Iran's traders. Revolutionary Guards, killing all 176 people on board

US goods trade gap widens to $102.9 bn in November on rebound in imports

The goods trade gap increased to a seasonally adjusted $102.9 billion last month from $98.3 billion in October, the Commerce Department's Census Bureau said on Friday

HomeStreet Bank offloads $990 mn multifamily loans to BofA in profit push

The deal marks a major milestone for HomeStreet as it maps out a path to profitability after four consecutive quarters of adjusted losses

India extends mandate for imported coal plants to run at full capacity

India's coal-fired power output had fallen for a second straight month in September due to slower growth in electricity use and a surge in solar generation

Current account deficit narrows to at $11.2 bn in July-September: RBI

The current account deficit stood at $11.2 bn, or 1.2 per cent of GDP in the reporting quarter, compared with a revised deficit of $11.3 bn or 1.3 per cent of GDP in the same quarter a year ago

Govt 10-year bond yield inches marginally higher as currency slide pinches

The Indian rupee plunged against the US dollar on Friday, ending at a record low of 85.53, posting a slump of 0.3 per cent - the biggest for a single session in nearly seven months

Taiwan's science ministry warns chip, AI funding cuts could impact tech

Taiwan's Ministry of Science and Technology estimate comes after the Ministry of Economic Affairs on Tuesday warned that the country's collaboration with tech companies, such as Micron , AMD, Nvidia

Forex reserves drop to over seven-month low of $644.39 bn as of Dec 20

The reserves declined by $8.5 billion in the reporting week, logging their biggest weekly fall in over a month. They had declined by a total of $5.2 billion in the prior two weeks

Gold set for weekly gains amid geopolitical uncertainty in West Asia

Spot gold fell 0.3 per cent to $2,625.78 per ounce, as of 1100 GMT. Bullion has gained 0.2 per cent so far this week. US gold futures were down 0.5 per cent to $2,641.30

Oil prices rise on China stimulus hopes; Brent, WTI set for weekly gain

However, a stronger US dollar capped oil price gains. The US currency has been boosted by expectations that the incoming Donald Trump administration's policies will boost growth and lift inflation

German president dissolves parliament, snap election set for 23 Feb

The vote also kicked off election campaigning in earnest, with conservative challenger Friedrich Merz, who surveys suggest is likely to replace Scholz

Rupee settles at record low of 85.53, logs worst day in nearly 7 months

The rupee weakened to an all-time low of 85.8075 against the U.S. dollar, before intervention by the central bank helped it trim steep losses, according to traders

Russian official warns US on possible nuclear testing under Trump

During Trump's first 2017-2021 term as president, his administration discussed whether or not to conduct the first US nuclear test since 1992, the Washington Post reported in 2020

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