News

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Tue, 27 Feb 2018 06:00:20 GMT

Punjab National Bank's shares plunge, as scam costs add up to nearly $2B

The shares of India's Punjab National Bank fell 8.9% late on Monday after announcing that the cost of fraudulent transactions could add $204M to the previously-reported $1.77B.

Tue, 27 Feb 2018 05:51:48 GMT

IEA: US will overtake Russia as biggest oil producer by 2019

According to the International Energy Agency, the United States is set to overtake the Russian Federation as the global leader in oil production by 2019.

Tue, 27 Feb 2018 05:18:28 GMT

BOK keeps rates on hold, Governor warns about US protectionism

The Bank of Korea kept interest rates unchanged on Tuesday, while the Governor Lee Ju-yeol warned about US protectionism having impact on the country's car and steel industries.

Tue, 27 Feb 2018 05:11:04 GMT

Lagarde: global growth strong, but new challenges ahead

The Managing Director of the IMF Christine Lagarde said the global economy showed broad-based growth with a shift towards trade dispute risks and technological advances. 

Tue, 27 Feb 2018 04:29:02 GMT

China spends $279B on R&D last year

Chinese total spending on the country's research and development is expected to hit $279B in 2017, making a 14% rise year-on-year, China's Science Minister stated.

Tue, 27 Feb 2018 04:28:18 GMT

Qantas, American Airlines re-seek US approval for joint venture

Qantas Airways and American Airlines were making their second attempt to gain the US regulatory permission for the joint venture, which would allow to coordinate schedules and prices.

Tue, 27 Feb 2018 03:31:34 GMT

Amazon launches delivery service for Australian merchants

On Tuesday, Amazon reported that it launched an in-house delivery service for third-party sellers in Australia.

Tue, 27 Feb 2018 03:28:36 GMT

Asian shares gain ahead of Powell testimony

Asian shares continued to trade in the green territory on Tuesday, hitting their three-week high as US borrowing costs eased ahead of the Fed Chairman Jerome Powell's first testimony.

Mon, 26 Feb 2018 21:18:14 GMT

Cryptocurrency startup Circle acquires crypto exchange Poloniex

A cryptocurrency blockchain startup Circle, backed by Goldman Sachs and Baidu, has acquired one of the major cryptocurrency exchange platforms Poloniex, as it wants to secure its position as the market leader.

Mon, 26 Feb 2018 21:06:31 GMT

Martin Shkreli to be held responsible for $10.4M in loses

The former head of the US drug company Martin Shkreli will be held accountable for $10.4M in loses after he was sentenced for defrauding investors in two hedge funds which he ran.

Mon, 26 Feb 2018 20:21:49 GMT

UN Secretary of General calls to get rid of nuclear weapons

The UN Secretary General Antonio Guterres called to develop a new global doctrine to eliminate nuclear arms, adding that many countries still wrongly believe that nuclear weapons make the world safer.

Mon, 26 Feb 2018 20:01:23 GMT

Bank of America to open 500 new branches

On Monday, Bank of America Corp stated that it is planning to open 500 new branches across the US in the nearest four years, as BofA continues investing in digital and physical enhancements.

Mon, 26 Feb 2018 19:02:35 GMT

Botswana blames Kabila for Congo crisis

In a statement released today, Botswana's Ministry of International Affairs blamed Congo's humanitarian and security crisis on the country's President Joseph Kabila.

Mon, 26 Feb 2018 19:01:52 GMT

Spanish Economy Minister: EZ banks should curb bad loans

On Monday, the Economy Minister of Spain Luis De Guindos said Euro zone banks should speed up the cutback of bad loans on their balance sheets.

Mon, 26 Feb 2018 18:02:41 GMT

OECD: Chile's economy to expand 2.9% in 2018 and 2019

In a report released on Monday, the Organisation for Economic Co-operation and Development said Chile's economy was expected to grow 2.9% in both 2018 and 2019.

Mon, 26 Feb 2018 18:02:10 GMT

Russia implements five-hour daily truce in Ghouta

Russia said on Monday it would set up a humanitarian corridor and introduce a five-hour daily ceasefire in Ghouta, Syria.

Mon, 26 Feb 2018 17:20:30 GMT

Brazil's Jungmann to become Ministry of Public Security head

The government of Brazil said on Monday that the country's Defence Minister Raul Jungmann was set to take over the post of the new Ministry of Public Security chief.

Mon, 26 Feb 2018 17:19:20 GMT

US Supreme Court rejects Trump's "Dreamers" plan

On Monday, the Supreme Court of the United States rejected the country's President Donald Trump over his stance on immigrant benefits programme known as "Dreamers".

Mon, 26 Feb 2018 16:25:52 GMT

Draghi: slack in EZ economy may be bigger than estimated

On Monday, the ECB President Mario Draghi said that a slack in the Euro area economy might be bigger than initially thought.

Mon, 26 Feb 2018 16:25:00 GMT

US new home sales disappoint in January

According to the data released by the US Census Bureau, the country's new residential sales fell to a seasonally adjusted yearly rate of 593K in January, down 7.8% from December's reading.

Mon, 26 Feb 2018 15:29:49 GMT

Qualcomm urges Broadcom for price talks

On Monday, Qualcomm called on Broadcom to enter into the price talks on its $117B bid in a potential step towards an agreement between the chipmakers, following four months of a dispute.

Mon, 26 Feb 2018 14:35:08 GMT

South Korea calls on North to halt nuclear weapons

On Monday, South Korea urged North Korea to abandon its ballistic and nuclear weapon programme, calling for a peace on the divided peninsula.

Mon, 26 Feb 2018 14:30:13 GMT

Egypt, Russia may revive talks on checking Red Sea airports

Egypt and Russia are likely to revive talks on the Red Sea airport checks near the Hurghada and Sharm el-Sheikh resorts this spring, following the resumption of Russia's flights to Cairo.

Mon, 26 Feb 2018 13:33:01 GMT

Toyota AI Ventures bolsters investment in automotive start-ups

Toyota AI Ventures is boosting investment in the self-driving start-ups, as the company seeks a better handle on the emerging technologies, saying it is co-leading the $11.5M seed investment in May Mobility.

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