Page 1668 - Business Finance
Shanghai shares rally, yuan firms after China, U.S. pause trade war
SHANGHAI/HONG KONG (Reuters) - Chinese shares, commodities and the yuan currency jumped on Monday while bond futures fell after Chinese and U.S. leaders agreed to a temporary truce in their bitter trade war.
Oil prices soar after U.S., China suspend trade hostilities
SINGAPORE (Reuters) - Oil prices shot higher on Monday after the United States and China agreed a 90-day truce in their trade conflict and ahead of a meeting by producer club OPEC this week that is expected to result in a supply cut.
Japan's corporate investment slows sharply, raises doubt about outlook
TOKYO (Reuters) - Japanese corporate capital expenditure rose for an eighth consecutive quarter in July-September but the pace of gains slowed sharply, raising doubts about the strength of business activity amid global trade frictions.
China October factory activity up a touch but client demand ebbs: Caixin PMI
BEIJING (Reuters) - China's factory activity grew slightly in November, a private survey showed, though new export orders extended their decline in a further blow to the sector already hurt by the Sino-U.S. trade frictions.
Global Markets: Asian shares rally on Sino-U.S. trade truce, oil bounces
SYDNEY/TOKYO (Reuters) - Asian shares rallied on Monday after U.S. and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets.
China agrees USD 9 billion currency swap with Argentina
China and Argentina signed a USD 9 billion currency swap deal to boost the crisis-stricken South American country's foreign currency reserves, its central bank announced Sunday. Struggling to recover after a currency crisis earlier this year, Latin America's third largest economy sought the help of the International Monetary Fund -- which approved a USD 56 billion loan package. Now, this latest agreement will "contribute to greater financial stability and also facilitate trade" between China and Argentina, according to the bank's statement. A currency swap sees two parties agree to exchange a certain amount of foreign currency at a pre-determined rate, protecting against fluctuations. Argentina's central bank will be able to draw on these funds in an emergency. The agreement followed the G20 summit in Buenos Aires, as Chinese President Xi Jinping was received by his Argentine counterpart Mauricio Macri for a state visit. The two countries signed 30 trade and financial agreements in ...
Nexstar clinches $4.1 bln deal to acquire Tribune Media -sources
(Reuters) - Nexstar Media Group Inc has reached an agreement to acquire Tribune Media Co for about $4.1 billion, a deal which would make it the largest local U.S. TV station operator, people familiar with the matter said on Sunday.
Lebanese govt condemns detention of Nissan ex-chairman
Following the detention of ex-chairman of Nissan Motors, Carlos Ghosn in mid-November, the Lebanese Republic has come up in his defence claiming that the move may be a part of some political or business-motivated conspiracy.Al Jazeera quoted Interior Minister Nohad Machnouk as saying at a security conference in Beirut, "To Carlos Ghosn in his predicament I say, a Lebanese phoenix will not be scorched by the Japanese sun."Ghosn, the chairman of the alliance of Nissan Motor Company, Mitsubishi Motors Corp. and Renault was arrested in Japan's capital Tokyo on November 19, for allegedly violating financial laws.On November 30, a Japanese court approved extending his detention for 10 more days.In 2017, the Lebanese government honoured Ghosn with a special postage stamp as a show of respect to a man considered to be a model of Lebanese entrepreneurial spirit.Earlier, Lebanese Foreign Minister Gibran Bassil issued a statement saying, "Lebanon would stand by Ghosn". He also asked the Lebanese
G20 summit provides 'breathing room' for German industry - DIHK
BERLIN (Reuters) - Deals agreed at the G20 summit in Argentina offer export-dependent German industry some "breathing room", though rising protectionism continues to pose a risk, the head of Germany's Chambers of Commerce (DIHK) said on Sunday.
Fuel prices continue to fall amid reports of deal to cut crude output
Amid reports of a deal between Saudi Arabia and Russia to cut crude production, Indian state-run oil firms continued to lower transport fuel prices for the eleventh straight day on Sunday, with petrol prices touching the lowest level in the ongoing fiscal across the major metros.
Railways to begin efforts to increase speed of Kalka-Shimla trains next week
Next week, the Indian Railways's research and development wing will begin efforts to increase the speed of trains on Kalka-Shimla narrow gauge route from the present 25kmph to 35kmph, officials said. This is the first time the railways is trying to bump up the speed on the route, which will reduce the journey time between the two stations by at least an hour. "An RDSO (Research Development and Standard Organisation) team will come here for trial next week and give us their suggestions. Based on their inputs, we will decide whether to increase the speed on the route," said D C Sharma, Divisional Railway Manager, Ambala. At present, trains cover the 95.5-km distance in 5.30 hours, by road the journey takes 4.30 hours. Many tourists prefer to take the road because of the journey time, officials said. Railways is keen to increase the speed to 50kmph and as of now the target is 35kmph. The problem, officials said, is that the route has 102 tunnels, 889 bridges, and 913 curves, many of ...
G-20 for WTO reform, use of tech for growth
The G-20 group of the world's largest economies have pledged here on the final day of a two-day summit in the Argentine capital to strive to maximise the possibilities for enhanced growth and productivity offered by technology.
Train 18 crosses 180 kmph speed limit during trial run
India's first locomotive-less less train, known as Train 18,breached the 180 kmph speed limit during a test run on Sunday, a senior railway official said here. When this Rs 100-crore indigenously designed train is made operational, it will become the country's fastest train. "Train 18 breached the 180 kmph speed limit in the Kota-Sawai Madhopur section. The major trials are now over, with just some more remaining. Based on the reports, fine tuning would be done if needed. As of now no major technical problem has cropped up," S Mani, General Manager of Integral Coach Factory (ICF) that has manufactured the train, said. "We expect Train 18 to commence its commercial run from January 2019. Normally the trials take three months. But now it is happening faster than expected," Mani added. If all things go well, Train 18 will replace the current Shatabdi Express - a day train. Train 18 is capable of touching 200 kmph provided the rest of Indian Railways' system such as tracks and signals ...
IndiaJoy 2018: Media, digital entertainment expo begins in Hyderabad
IndiaJoy, a media and digital entertainment expo supported by the Telangana government, got underway here on Sunday, welcoming exhibitors and speakers from around the world.
Four Libyan oil export ports reopen after closures for bad weather
BENGHAZI, Libya/LONDON (Reuters) - Four Libyan oil export ports that were closed last week because of bad weather have reopened, a Libyan shipping source and port engineers said on Sunday.
Bahrain woos Indian FinTech firms to set up base
Bahrain is positioning itself as hub for Fintech innovation and wants Indian tech companies to set up their base at FinTech Bay and take advantage of growing economy of the gulf region. Development of the FinTech ecosystem has been a top priority and this builds upon Bahrain's position as a leading and established financial services hub, Bahrain Economic Development Board (EDB) Chief Executive Khalid Al Rumaihi told PTI. "Bahrain has been committed to introduced and improve both the regulatory framework and supportive environment needed by startups and existing companies to grow and succeed. Bahrain FinTech Bay, the region's biggest and first FinTech accelerator was launched earlier this year and a perfect example of what we call our Team Bahrain' approach - a successful economic model of public-private sector collaboration," he said. The EDB will lead a high-level delegation focusing on trade and investment to India specifically Mumbai from December 3-5. "Our main aim during the ...
Black money: Swiss government agrees to share details of 2 Indian firms
As Switzerland continues to shed its image as a safe haven for alleged black money, the Alpine nation has agreed to share with Indian authorities the details about two companies and three individuals who are facing multiple probes back in India. One of the two Indian companies used to be a publicly-listed entity and has already faced the wrath of capital markets regulator Sebi for multiple violations, while the other firm is said to have political links in Tamil Nadu. As per separate gazette notifications of the Swiss government, the country's federal tax department has agreed to provide 'administrative assistance' to India on requests made about Geodesic Ltd and Aadhi Enterprises Private Ltd. Similar requests have also been accepted for three individuals associated with Geodesic Ltd -- Pankajkumar Onkar Srivastava, Prashant Sharad Mulekar and Kiran Kulkarni. While the Swiss government did not disclose specific details related to the information and assistance sought by the Indian ...
Parryware forays into PVC pipes and fittings market in TN
Parryware, India's contemporary bathroom solutions brand, has expanded its business operations in India with its foray into the household plumbing pipe segment and plans to focus on Southern India in the first phase. The company has introduced cPVC (Chlorinated polyvinyl chloride) pipes which are used for potable hot and cold water distribution systems and this is a significant addition to the bathroom fittings business of the company to scale its business in India, a company release said on Sunday. It aims at focussing on Southern India in the first phase of the business launch as it remains to be the undisputed market leader in the region. Parryware cPVC pipes in the first phase of its launch would be retailed in Tamil Nadu through company's extensively spread retailer network starting next year. "At Parryware, our constant focus is on offering complete bathroom solutions to our customers and the addition of cPVC pipes business is a step towards achieving this goal," .
Gujarat: Police Constable recruitment exam cancelled after paper leak
The Gujarat police recruitment board on Sunday cancelled a written exam for the recruitment of police constables after the paper leak.Over 8.76 lakh candidates were scheduled to appear for the exam for 9,713 posts at 2,440 examination centres across the state.Lok Rakshak Recruitment Board (LRRB) Chairman and Additional Director General of Police (DGP) Vikas Sahay informed that the examination was called off after it came to light that the paper had got leaked.Sahay further said that the whole matter would be investigated and action will be taken against the people involved.
G20: Modi discusses economy, terrorism, fugitive economic offenders
Prime Minister Narendra Modi stressed on cooperation among G20 countries on issues related to global economy, trade tensions, crude oil prices and terrorism and fugitive economic offenders, India's G20 sherpa has said.