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Serious debt crisis unfolding across developing countries, says UNDP report

The United Nations' Development Programme (UNDP) joined on Tuesday the chorus of institutions and charities warning that a serious debt crisis is now taking hold in the poorest parts of the world.

Gold prices on back foot as US dollar, yields firm on rate-hike bets

Spot gold eased 0.2% to $1,664.13 per ounce, as of 0927 GMT, after earlier touching its lowest since Oct. 3

Oil prices fall more than 2% on account of recession and China Covid fears

Oil has dropped sharply on economic fears after surging earlier in 2022, when Brent came close to its record high of $147 as Russia's invasion of Ukraine added to supply concerns

India to press Apple, Samsung for faster 5G software upgrades in phones

Apple's iPhone models, including the latest iPhone 14, and many of Samsung's premier phones do not have software compatible for supporting 5G in India, according to three industry sources

Fire-fighting Bank of England forced to buy inflation-linked bonds

Bank of England says will buy index-linked gilts, a move that represents new headache for UK PM Truss; bank warns of "material risk" to financial stability

Flight bookings to Qatar boom for FIFA World Cup, especially from Dubai

The strong demand comes despite the requirement to present a negative COVID-19 test to enter Qatar

World stocks head back towards two-year lows as investors' mood sours

There was a modest respite for Britain's battered bond market after the Bank of England said it would start purchasing inflation-linked debt

Chinese EV maker BYD to launch 1st passenger car in India amid global push

Warren Buffet-backed Chinese electric carmaker BYD will launch its first passenger car in India on Tuesday, an electric SUV, marking its entry into the mainstream market

Toshiba India to supply rechargeable batteries for EVage's electric vans

The Indian unit of Japan's Toshiba will supply its SCiB rechargeable lithium-ion cells for 10,000 electric delivery vans made by Indian start-up EVage, the companies said on Tuesday.

RBI likely sold dollars, received forwards to stem rupee's drop: Report

The rupee has traded in a narrow range of about 8 paisa so far in the session

War, looming rate hikes hoist dollar, gilt wipeout hits Treasuries

Asian stockmarkets fell and the dollar rose on Tuesday with investors worried about rising interest rates and an escalation in the Ukraine war

Oil prices slide as dollar strengthens, China's Covid-19 woes dampen demand

Oil prices fell on Tuesday, extending nearly 2% losses in the previous session, as a stronger U.S. dollar and a flare-up in COVID-19 cases in China increased fears of slowing global demand

Will weigh what Russia offers on Sakhalin-1 ownership revamp: Hardeep Puri

India maintains a "healthy dialogue" with Russia and will look at what is offered following announced ownership revamp to the Sakhalin-1 oil and gas project, Hardeep Singh Puri said

Biden vows air defense systems for Ukraine after missile attacks by Russia

Joe Biden pledged to Ukraine President Volodymyr Zelenskyy that the United States will provide Ukraine with advanced air systems after a devastating missile barrage from Russia

Dollar gains on rate-hike fears, yen flirts with intervention levels

The dollar loomed large over fragile financial markets, with worries about rising interest rates and geopolitical tensions, while the yen was testing levels that have prompted official intervention

JPMorgan CEO Jamie Dimon warns of global recession in 6-9 months

Runaway inflation, big interest rates hikes, the Russian invasion of Ukraine and the unknown effects of Fed's quantitative easing policy are among the indicators of a potential recession, Dimon said

TCS sees softness in long-term deals after second-quarter beat

Many of India's top IT services firms are looking at various cost-cutting measures, as they are worried that tightening budgets at recession-wary US and European clients will sharply hit their profits

Rivian shares skid 9% after EV maker recalls nearly all vehicles

The Amazon.com Inc-backed firm on Friday recalled about 13,000 vehicles due to a possible loose fastener that could cause the driver to lose steering control

Nasdaq falls as US export controls on China weigh on chip stocks

US bond market shut for Columbus Day holiday; S&P 500 tech sector leads declines

Oil price steadies as supply tightness duels with recession fears

Brent crude futures for December settlement fell by as much as 1.1% but recovered to being down 17 cents, or 0.2%, at $97.75 a barrel by 1353 GMT