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British auto industry set to miss 2024 EV sales target, warns trade body

Britain's ZEV mandate, introduced by the former Conservative government, requires at least 22 per cent of an automaker's new car sales to be purely EVs in 2024

President Biden 'in discussion' on possible strikes on Iran oil faciitlites

Oil prices rose following Biden's suggestion that US and Israeli officials were considering a possible Israeli strike on Iranian oil facilities

Biden declines public negotiation on Israel's stance on Iranian oil sites

Biden earlier in the day contributed to a surge in global oil prices when he said Washington was discussing strikes on Iran's oil facilities

Asia shares fall, oil set for weekly gains on Middle east tensions

The Nikkei has had a choppy few sessions this week as investors weighed the rising geopolitical tensions against the domestic rate outlook

India aims to double edible oil output to cut down reliance on imports

Last month, India raised the basic import tax on crude and refined edible oils by 20 percentage points to help protect farmers struggling with lower oilseed prices

No state would be allowed to ban gasoline-powered cars if he elected: Trump

Trump is looking to win votes in Michigan, a key swing state in the 2024 presidential election that is home to the Detroit Three automakers

India, US ink pact to cooperate on critical battery mineral supply chains

Goyal, speaking at Center for Strategic and International Studies in Washington after signing, described the MOU as a multi-dimensional partnership that would include open supply chains for materials

Blackstone to raise at least $10 bn in Asia PE fund, focus on India: Report

The new buyout fund, Blackstone's third in Asia, will primarily focus on India with the largest percentage of capital allocated there

Oil gains up by 4% on supply concerns as West Asia conflict intensifies

There are concerns that such escalation could prompt Iran to block the Strait of Hormuz or attack Saudi infrastructure, as it did in 2019

West Asia conflict escalation poses significant economic risks: IMF

IMF spokesperson Julie Kozack told a regular news briefing that the Washington-based global lender is closely monitoring the situation in southern Lebanon with "grave concern"

Bangladesh interim govt recalls five envoys in major diplomatic reshuffle

The foreign ministry ordered envoys in Brussels, Canberra, Lisbon, New Delhi and the permanent mission to the United Nations in New York to immediately return to the capital, Dhaka

Sees progress in port labour dispute: Biden as strike enters third day

The strike, the biggest of its kind in nearly half a century, has blocked unloading of container ships from Maine to Texas, threatening shortages of everything from bananas to auto parts

Shein likely to hold informal investor meet ahead of planned London IPO

Shein confidentially filed papers with Britain's markets regulator in early June, kicking off the process for a potential London listing by the company later in the year

US office market segment shows signs of bottoming after big discount sales

The US office property market has been hard hit since the pandemic by higher interest rates and as many office workers worked from home

OpenAI secures $4 bn revolving credit line after big funding round

The borrowing facility will boost its liquidity to $10 billion, OpenAI said, allowing the startup to buy costly computing capacity, including Nvidia chips

Swiggy gets shareholder nod to use provision to upsize IPO fresh issue

Swiggy's original IPO size eked out NTPC Green Energy's $1.2 billion public offering filing to be the largest in the country this year

Israel extends evacuation warnings in Lebanon, strikes Beirut's suburb

At least eight Israeli soldiers have been killed in clashes with Hezbollah in southern Lebanon, where Israel announced the start of what it says is a limited ground incursion earlier this week

EU members to vote on proposal to impose tariffs on China made EVs

The Commission last revised the tariff rates in September, imposing levels from 7.8 per cent for Tesla to 35.3 per cent for SAIC

BOJ policymaker calls for slow, cautious movement on interest rate hikes

The comments from Bank of Japan board member Asahi Noguchi come a day after Japan's new prime minister, Shigeru Ishiba, said the economy was not ready for further rate hikes

RBI likely to continue using forex reserve to reduce volatility: Report

While most Asian currencies posted gains against the greenback following the Federal Reserve's larger-than-expected 50 basis point rate cut last month, the rupee has traded largely flat