Sino-US trade woes unlikely to aid Indian exports: Fitch, India Ratings

Trade tensions between Washington and Beijing are unlikely to aid Indian exports as there is a stark difference in the nature of commodities exported by the two economies, India Ratings and Fitch wrote in a joint report published on Friday.
18 May 2019, 18:00 PM

Huawei: Rags to riches story, or Chinese Trojan horse?

Chinese army technician Ren Zhengfei founded Huawei with just $5,000 in seed money, according to company lore, but 32 years later it is at the centre of a titanic tug-of-war between the United States and China for world technological supremacy.
18 May 2019, 18:00 PM

African start-ups aim high, harsh realities temper hopes

Cameroonian start-up boss Serge Boupda made a polished pitch Thursday to a room packed with potential investors in Paris, but he knows a solid business plan does not guarantee interest for firms hoping to unlock Africa’s vast economic potential.
18 May 2019, 18:00 PM

Saudi to supply an extra 2m barrels a month to Indian Oil Corp from July

Saudi Aramco will supply state-run Indian Oil Corp Ltd (IOC) an extra 2 million barrels of crude a month from July to December, an IOC executive said on Friday, as New Delhi seeks to make up for a loss in supplies from Iran.
18 May 2019, 18:00 PM

US may scale back Huawei trade restrictions to help customers

The US Commerce Department said on Friday it may soon scale back restrictions on Huawei Technologies after this week’s blacklisting would have made it nearly impossible for the Chinese company to service its existing customers. The Commerce Department, which had effectively halted Huawei
18 May 2019, 18:00 PM

As bitcoin gyrates, less euphoria in evidence at blockchain gathering

The vibe at a gathering this week for blockchain enthusiasts felt decidedly less exuberant than its predecessor a year ago after dizzying swings in bitcoin.
18 May 2019, 18:00 PM

US lifts tariffs on Canadian, Mexican metals

The United States struck deals on Friday to lift tariffs on steel and aluminum imports from Canada and Mexico, the three governments said, removing a major obstacle to legislative approval of a new North American trade pact.
18 May 2019, 18:00 PM

Brazil economic woes hit stocks, currency

Atrophying growth forecasts and waning confidence in President Jair Bolsonaro sent Brazil’s stocks and currency to their lowest level of the year this week, as analysts warned of further falls.
18 May 2019, 18:00 PM

HP Enterprise buying supercomputer star Cray

Hewlett Packard Enterprise (HPE) on Friday announced a $1.3 billion deal to buy supercomputer maker Cray, part of a move to expand into data analysis from connected devices .
18 May 2019, 18:00 PM

Trump delays decision on auto tariffs for up to six months

US President Donald Trump on Friday announced a six-month delay in imposing steep tariffs on auto imports, seeking to pressure Europe and Japan into bargaining table concessions on trade.
18 May 2019, 18:00 PM

Crisis-hit Nissan shakes up board, keeps boss

Japanese car giant Nissan shook up its executive board Friday, adding a top director from partner Renault as it battles the fallout from the Carlos Ghosn saga and disappointing results.
18 May 2019, 18:00 PM

US-China trade war could be risk for world economic outlook: Lagarde

The trade war between the United States and China could be a risk to the world economic outlook if it is not resolved, International Monetary Fund Managing Director Christine Lagarde told Reuters on Friday during a visit to Uzbekistan.
18 May 2019, 18:00 PM

Buffett’s Berkshire unveils $861m Amazon stake

Warren Buffett’s Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos.
16 May 2019, 18:00 PM

US economy showing signs of strain amid escalating trade war

The US economy is showing more signs of strain amid President Donald Trump’s multi-front trade war, with a sharp slowdown in manufacturing and a pullback by American shoppers.
16 May 2019, 18:00 PM

China opposes US move to blacklist Huawei

China on Thursday slammed a decision by the US government to put telecom equipment giant Huawei on a blacklist and said it will take steps to protect its companies, in a further test of ties as the superpowers clash over trade.
16 May 2019, 18:00 PM

EU fines five major banks for currency collusion

The EU’s powerful anti-trust authority on Thursday fined five major banks -- including Barclays and Citigroup -- more than a billion euros for collusion in the massive foreign exchange currency market.
16 May 2019, 18:00 PM

Japan weighing downgrade of economic view, raises doubt on higher sales tax

Japan’s government is considering downgrading its assessment of the economy next week as the intensifying Sino-U.S. trade war takes a toll on exports and factory output, a government source with direct knowledge of the matter told Reuters on Thursday. A downgrade in the crucial monthly report
16 May 2019, 18:00 PM

Travellers focus on the ticket price, not the plane: poll

US fliers still consider ticket prices the most important factor when choosing a flight, according to a Reuters/Ipsos poll, suggesting two fatal crashes of Boeing Co 737 MAX jets have had little impact on consumer sentiment.
15 May 2019, 18:00 PM

Oil supply drops as Iran sanctions bite: IEA

The world’s oil supply fell last month, the International Energy Agency said Wednesday, amid rising global tensions as US sanctions on Iran tightened and OPEC+ members produced less crude in line with their pact.
15 May 2019, 18:00 PM

Next government seen relying on RBI rate cuts to spur growth

India’s slowing economy will need a boost soon after the current election but budget stresses mean New Delhi probably has to rely on the Reserve Bank of India to provide it through more interest rate cuts, according to two senior finance ministry officials.
15 May 2019, 18:00 PM