Page 1747 - Business Finance

Gold edges up ahead of G20 meeting; set to post second weekly gain

BENGALURU (Reuters) - Gold prices inched up on Friday, set to rise for the second straight week, on safe-haven demand for the metal ahead of the G20 summit next week where the leaders of the United States and China are set to discuss their trade dispute.

Japan prosecutors likely to build new criminal case against Ghosn: Asahi

TOKYO (Reuters) - Japanese prosecutors are likely to build a new criminal case against ousted Nissan Motor Chairman Carlos Ghosn for understating his remuneration by 3 billion yen ($27.0 million) over three years from fiscal 2015, the Asahi newspaper reported on Friday.

Pres Kovind advocates strengthening of ties between India, Australia

President Ram Nath Kovind on Friday pitched in favour of strengthening economic ties between India and Australia and advocated opening of new avenues in the food and industrial sectors.President Kovind, after meeting Governor of Victoria, Linda Dessau at the Government House in Melbourne, said that both the countries have a pool of opportunities before them to invest and grow mutually."India and Australia share a warm, cordial and multifaceted relation. The strategic partnership has given new impetus to our ties. We have shared historic experiences, robust people to people ties and deep economic engagement. We have a world of opportunities before us, let us invest and innovate and write new roads for the digital economy and the technology script for food and the industrial revolution," he said.Speaking on the occasion, Dessau averred that Victoria has strong people to people connection with India and they look forward to further strengthen the bond."The fact the Victoria was the first

Oil hits 2018 lows on emerging supply glut

SINGAPORE (Reuters) - Oil prices slumped to 2018 lows on Friday in thin but volatile trading, pulled down by concerns of an emerging global supply overhang amid a bleak economic outlook.

ECB chief economist dashes hopes of imminent cash injection for banks

FRANKFURT (Reuters) - The European Central Bank's chief economist dashed hopes on Thursday that it was about to launch a new cash injection to alleviate the pressure on struggling lenders in countries such as Italy.

British lawmakers launch investigation into bank IT failures

LONDON (Reuters) - British lawmakers launched an inquiry on Friday into computer systems failures at financial services firms, after a number of outages in recent months left millions of customers unable to access their money or make vital payments.

Global Markets: Asian shares edge up, but growth woes offset Brexit progress

SHANGHAI (Reuters) - Asian shares barely budged in early Friday trade as investors were reluctant to make any big bets in the face of trade tensions, signs of slowing earnings and Brexit negotiations.

Glonal Markets: China leads Asian shares lower on growth, trade worries

SHANGHAI (Reuters) - Asian shares slipped on Friday as trade tensions continued to hurt sentiment, while weak corporate earnings in Europe added to worries about global growth and outweighed hopes for progress in Brexit negotiations.

Asian stocks follow Europe down, as fears grow over global economy

Fresh fears over headwinds facing the global economy saw Asian stocks follow Europe into the red Friday, in light holiday trading after US markets were closed for Thanksgiving. Investors brushed aside claims from Donald Trump he was hopeful of resolving the bitter trade dispute between the US and China, with the American president set to meet his Chinese counterpart Xi Jinping at the G20 in Argentina next week. "China wants to make a deal. If we can make a deal, we will," Trump said, adding he was "very prepared" for the meeting. But the fractious recent APEC summit -- which for the first time ever failed to issue a joint statement after US-China trade tensions boiled over -- has set an ominous tone for the high-stakes summit in Buenos Aires. The world's top two economies have been locked in a trade war for months, with the US imposing punitive tariffs on Chinese goods worth USD 250 billion per year. In retaliation, China imposed tariffs on USD 110 billion of US goods. Washington has .

Oil falls on supply glut fears, but expected OPEC cuts provide some support

SINGAPORE (Reuters) - Oil prices renewed their fall on Friday, pressured by concerns that producers are churning out more oil than the world needs amid a bleak economic outlook.

Debt, forex, stock markets closed on Friday

MUMBAI (Reuters) - India's foreign exchange, debt and stock markets are closed on Friday for a local holiday.

US dollar falls amid Brexit deal hopes

The US dollar decreased against most other major currencies as investors believed that the UK and the European Union (EU) will reach a deal before Brexit goes into effect.

Prospects of cooperation between India, Australia limitless: Kovind

The prospects of cooperation between India and Australia are limitless and the two nations can do lot more together on trade, investment, technology and education, President Ram Nath Kovind said Thursday as he reiterated New Delhi's committed to the proposed Comprehensive Economic Cooperation Agreement to further boost trade ties. Addressing an Australia-India Business Council event, Kovind said India and Australia are close and natural friends. "There is a special comfort and bond between our two countries. Our shared values and commonalities, not the least our passion for cricket and cinema, have helped us establish a vibrant partnership," he said. He said in recent years, the two nations have stepped up their strategic partnership deepening engagement in defence, security, technology and people-to-people ties. "There is matching energy and heightened policy focus on our trade and investment relations as well," the president said. He said the two nations shared strong economic ...

Lower crude oil prices to contain rise in FY19 CAD: Report

Lower global crude oil prices are expected to contain the rise in India's current account deficit (CAD) to 2.6 per cent of the gross domestic product (GDP) in 2018-19, a SBI Ecowrap report said on Thursday.

ECB's Weidmann says stock market correction could lie ahead

FLORENCE, Italy (Reuters) - Bundesbank President Jens Weidmann warned on Thursday that stock market corrections could lie ahead, but said it was not something that should cause concern from a monetary policy perspective.

Airbnb homes in on African growth story

STELLENBOSCH, South Africa (Reuters) - Three of Airbnb's top growth markets are in Africa and the continent has become a cornerstone of the U.S. company's sustainable tourism strategy, a senior official with the home-sharing service said on Thursday.

Spain looks to boost China trade with Xi Jinping visit

MADRID (Reuters) - Chinese President Xi Jinping will travel to Spain next Wednesday for an official visit expected to focus on trade and tourism.

Qatar quarrel plays out in battle over UAE banks

DUBAI (Reuters) - A proxy war between the United Arab Emirates and Qatar is being played out at banks in the UAE which have Qatari shareholders, weighing on their business and raising questions about their future.

Canada's online retailers gird for delivery delays as post strike grinds on

TORONTO (Reuters) - A month-long strike by Canada's dominant mail operator ahead of the holiday shopping season has led online retailers to turn to pricier couriers and warn of delays that could make customers think twice about online shopping.

IT firm says Pallikaranai land bought from retired HC judge

IG Infra Ltd., accused of trying to mortgage a portion of the marshland at Pallikaranai here to get a Rs 1,350-crore loan, Thursday contended in the Madras High Court that the property was private land bought from a retired judge with valid documents. The company said the land was not marshland as alleged and had been purchased between 2004 and 2007 through sale deeds from the Power of Attorney of retired high court judge G Ramanujam. The matter relates to a public interest litigation (PIL) filed by social activist M Sentil Kumar based on a newspaper report that the IT firm allegedly attempted to mortgage a portion of the marshland, protected by an order of the court, after obtaining 'patta' (land ownership document) in collusion with forest and revenue authorities. According to the petitioner, the entire marshland was in 2013 assigned to the state forest department by the Chennai Corporation under the Forest Act, 1888. The counter submitted that the land referred to by the petitioner