Page 2634 - Business Finance
Oil prices drop as storm threat eases on U.S. Gulf coast
SINGAPORE (Reuters) - Oil prices fell on Wednesday, partly reversing a strong jump from the previous day, as the impact of a tropical storm on U.S. Gulf coast production was not as strong as initially expected.
Crisis-hit Argentina hopes for improved IMF deal this month
WASHINGTON/BUENOS AIRES (Reuters) - Argentina's government said on Tuesday it hoped the International Monetary Fund would agree in the second half of September to a deal giving the country more financial support as it seeks to escape a deepening economic crisis.
ED books retired IAS officer under PMLA
The Enforcement Directorate (ED) has filed prosecution complaint under Prevention of Money Laundering Act (PMLA), against a retired Indian Administrative Service (IAS) officer and his three associates for spending Rs. 5,41,21,019 more than earning from lawful sources.The complaint was filed before the PMLA/Central Bureau of Investigation (CBI) Special Court at Mohali on Tuesday against Mandeep Singh, IAS (Retd.), M/s Ashiana Inn Ltd. and three others for committing an offence of money laundering.In an investigation, it was revealed that during the period between April 1998 to March 31, 2014, Mandeep Singh spent funds totalling to Rs. 5,41,21,019/- in excess (130 percent excess) of the income earned by him and his family members through all the lawful sources of their income. The said expenditure also includes the purchase of agricultural lands in the name of his wife and sons."Mandeep Singh, IAS (now retired) has invested illegitimate funds, possessed by him in excess to his known ...
Dollar climbs, emerging markets under pressure
NEW YORK (Reuters) - Stocks fell in major markets around the world on Tuesday, and emerging markets currencies lost ground while the dollar rose as investors braced for an escalation in the U.S.-China trade conflict.
Delhi: DIT (I and CI) organize outreach
The Directorate of Income Tax (Intelligence and Criminal Investigation) organised an outreach programme in Delhi to educate the traders about the filling of return of Statement of Financial Transaction (SFT).The programme was organised along with Federation of Delhi Textiles Merchants August 31 to bring clarity about the filing of return of Statement of Financial Transaction where the sale of any goods or services have been made in cash amounting to Rs. 2 lakh or more. The event was organized with the intent to make traders aware of their duty to file the statement and to resolve their problems as far as the filling of return of SFT is concerned.Besides SFT, other matters relating to day to day problems of taxation faced by the traders were also discussed. The purpose of the outreach program was also to gather the information about the entities which were engaged in a high-value cash transaction.Director General of Income Tax (I and CI) has been conducting numerous Outreach Programmes
Amazon touches $1 trillion, on pace to overtake Apple
(Reuters) - Amazon.com Inc on Tuesday briefly joined Apple Inc to become the second $1 trillion publicly listed U.S. company after its stock price more than doubled in a year as it grew rapidly in retail and cloud computing.
Facebook, Nike drag Wall Street lower; trade concerns linger
NEW YORK (Reuters) - U.S. stocks fell on Tuesday as trade concerns lingered and declines in Facebook and Nike shares weighed on Wall Street's major indexes, though data showing U.S. manufacturing activity accelerated in August kept losses in check.
Emerging markets under pressure as dollar rises
NEW YORK (Reuters) - Stocks fell in major markets around the world on Tuesday and emerging markets currencies lost ground while the U.S. dollar rose as investors looked for safety as they braced for an escalation in the U.S.-China trade conflict.
Facebook, Nike drag Wall Street lower, data limits losses
NEW YORK (Reuters) - Declines in Facebook and Nike shares weighed on the S&P 500 and the Dow on Tuesday, although data showing U.S. manufacturing activity accelerated in August kept losses in check.
India's economy making steady progress: President Kovind in Bulgaria
President Ram Nath Kovind apprised the Indian community in Bulgaria of India's growth story, saying that the economy of the country is making steady progress.Addressing the Indian diaspora in the Bulgarian capital Sofia on Tuesday, President Kovind said, "We have undertaken a range of transformative policy measures to give a new purpose and clarity of visions for inclusive development and good governance in the country. We have imparted a new energy to our economy. India is the fastest growing major economy in the world with the current growth rate of 8.2 percent. We are making steady progress towards becoming a USD 5 trillion economy and the third largest consumer market in the world by 2025."The President also hailed the Indian community in Bulgaria as "bridge between the two countries". "Indian diaspora in Bulgaria constitutes a living bridge between the two countries. There is one common thread which binds us all together. This is our common cultural and traditional heritage. I am
Top U.S. regulator calls for 'reset' in relations with other countries
LONDON (Reuters) - How the United States supervises cross-border derivatives is flawed and needs resetting to avoid fragmenting markets and placing undue burden on companies, a top U.S. regulator said on Tuesday.
Oil steady ahead of Storm Gordon; weighed by dollar, Cushing build
NEW YORK (Reuters) - Oil prices were little changed on Tuesday, as energy infrastructure on the U.S. Gulf Coast braced for a hurricane, but gains were capped as a stronger dollar and report of rising stockpiles at the Cushing, Oklahoma hub weighed.
Dollar Emerging markets under pressure as dollar rises
NEW YORK (Reuters) - Stocks fell in major markets around the world on Tuesday and emerging markets currencies lost ground while the U.S. dollar rose as investors looked for safety as they braced for an escalation in the U.S.-China trade conflict.
Trump backs Argentina's Macri, encourages efforts with IMF
WASHINGTON/BUENOS AIRES (Reuters) - U.S. President Donald Trump on Tuesday backed Argentine President Mauricio Macri's handling of a worsening economic crisis and encouraged his efforts to quickly win financing from the International Monetary Fund.
China-Africa summit rejects debt criticism
Chinese and African officials on Tuesday rejected criticism of Beijing's debt-laden overseas development projects as they wrapped up a summit that included a new USD 60 billion assistance pledge for the continent. President Xi Jinping hosted leaders from across Africa amid criticism that his country's Belt and Road global trade infrastructure project is worsening debt problems in some countries. "Everything we do with China is perfectly under control, including on the financial and debt side," said Senegal's President Macky Sall, whose country took over the co-chairmanship of the Forum on China-Africa Cooperation (FOCAC) for the next three years. "We shouldn't let our conscience be disturbed by criticism made regarding the nature of our relations with China," Sall said in remarks alongside Xi and South African President Cyril Ramaphosa to close the triannual FOCAC summit. For his part, Xi said the summit "opened a new chapter in the history of China-Africa relations". Ramaphosa, who ..
Corrected: Wall Street slides on tech weakness, Nike drags on Dow
(This version of the story corrects Reuters Instrument Code (RIC) for Twitter in paragraph 3)
Amazon joins $1 trillion club, on pace to overtake Apple
(Reuters) - Amazon.com Inc on Tuesday joined Apple Inc to become the second $1 trillion publicly listed U.S. company after its stock price more than doubled in a year as it grew rapidly in retail and cloud computing.
Qatar Airways interested in partnering with Indian entity
Gulf-based passenger carrier Qatar Airways on Tuesday said it was open to form a partnership with an Indian player to invest in domestic airline sector.
Nara Lokesh launches Fintech festival in Visakhapatnam
Andhra Pradesh Information and Technology minister Nara Lokesh on Tuesday unveiled the curtain raiser of Fintech festival 2018 and also launched the website. The festival will be held from October 22 to 25 in Vizag.The event will witness a congregation of India's economic community to discuss industry trends, market insights, the Indian regulatory framework, along with global fintech ecosystem. The initiative intends to bring together industry, academicians and investors to innovate, co-create and build the fintech ecosystem.The festival will also be marked by the presence of eminent personalities from regulatory authorities, like the Monetary Authority of Singapore, Reserve bank of India, multinational Fintech companies. They are expected to share the stage about improving digital infrastructure in the nation and unveil India with the trends of cybersecurity. The event will also explore opportunities in India's digital banking transformation.The major focus of the festival will be to
U.S. apple farmers afraid they will be hurt by U.S.-China trade battle
NEW YORK/HONG KONG/BEIJING (Reuters) - Apple farmers across the U.S. Northwest fear they will be the next victims of a U.S.-China trade war that left cherry growers in the same region with weak prices and having to scramble for alternative buyers because of prohibitive Chinese tariffs.