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Economy

Saudi Arabia , Russia and other major exporting countries are scheduled to meet Sunday in Algiers to review the oil market. Crude oil prices peaked at a near-term high of with WTI tapping into 70.40 on Tuesday, but was unable to make a challenge of last week's high of 71.25 after USA oil inventories showed yet another surprise build-up in their barrel counts yesterday.
  • Petrol price hits a record high in Mumbai

    Petrol price hits a record high in Mumbai

    Economy

    The price differential between petrol and diesel in Mumbai has also reduced to one of the lowest of the year - at Rs 11.02 per litre, which means petrol cars seem to have as good an operational benefit as their diesel siblings. "I would like to mention two points, and both these subjects are external". But the experts believe that the current price surge is different from before.
  • Size LEGO Technic Bugatti Chiron actually drives

    Size LEGO Technic Bugatti Chiron actually drives

    Economy

    The slick supercar can reach max speeds of up to 261 mph-not because the engine can't go faster, but because its tires can't safely withstand higher speeds . The LEGO Technic Bugatti Chiron was built with over 1 million LEGO Technic pieces, with more than 339 different types of these elements in use, and no glue holding them together.
  • NAFTA negotiations continue in Washington as Friday goal nears

    NAFTA negotiations continue in Washington as Friday goal nears

    Economy

    Trudeau's negotiators pushed back strongly against this at first but has been more quiet lately. They also agreed that 75 per cent of automobile content would come from within North America, an increase from the current 62.5 per cent. "I think they're going really well", Trump said about the Canada talks, which are "probably on track" to meet the Friday deadline. Trump backed off from an initial USA demand for a "sunset" clause that would kill the pact unless it was renegotiated every ...
  • How Successful was Demonetisation? Four Takeaways From the RBI’s Annual Report

    How Successful was Demonetisation? Four Takeaways From the RBI’s Annual Report

    Economy

    This meant just Rs 10,720 crore of the junked currency did not return to the banking system. Meanwhile, the country's banks reportedly detected a 480% jump in suspicious transactions post demonetisation . There was, however, a 2.1% increase in the volume of banknotes. As of March 31, 2108, the CiC accounted for 101.8% of its pre-demonetisation level.
  • Trump's Auto Tariff Threats Are Getting in the Way of NAFTA Negotiations

    Trump's Auto Tariff Threats Are Getting in the Way of NAFTA Negotiations

    Economy

    The U.S. and Mexico in recent weeks had largely focused on vehicle manufacturing, as the Trump administration pushes for a deal aimed at boosting factory jobs in the United States . Canadian Foreign Minister Chrystia Freeland told reporters in British Columbia during a Cabinet retreat: "Canada clearly has an interest in how those rules are updated and we clearly will need to look at and agree to any final conclusion".
  • Can Trump bend the Fed to his will?

    Can Trump bend the Fed to his will?

    Economy

    Investors were also looking to Wednesday's release of minutes from the U.S. Federal Reserve's August meeting and a speech by Fed Chairman Jerome Powell on Friday for clues on future rate hikes. Talks between US and Chinese officials in Washington over trade will continue on Thursday, although most analysts do not expect much headway to be made, with risks growing that the conflict will descend into a growth-sapping tariff war.
  • Gunshots fired at U.S. embassy in Turkey

    Gunshots fired at U.S. embassy in Turkey

    Economy

    The embassy closed this week for the Muslim holiday of Eid al-Adha. The attack took place at 5.30 a.m. local time when six shots were fired from a white vehicle at the U.S. Embassy in Ankara, Turkey August 20, 2018. It added empty cartridges were found at the scene. US administration had imposed sanctions and vows to do more against Turkey in the case the pastor would not be released immediately.
  • Tesla's Shares Slump Following CEO Elon Musk's NYT Interview

    Tesla's Shares Slump Following CEO Elon Musk's NYT Interview

    Economy

    The slump took losses in the last eight trading sessions to almost 20pc or £10bn. California-based Tesla has become one of the most valuable automakers on expectations it will disrupt the industry. He also said that he doesn't intend to stop using the micro-blogging site either. "They can have the reins right now", stated Musk. "But from a personal standpoint, the worst is yet to come".
  • Qatar promises $15 billion investment in Turkey

    Qatar promises $15 billion investment in Turkey

    Economy

    The row with Washington has helped drive the lira to record lows, with the currency losing more than 40 per cent of its value against the dollar this year, prompting central bank liquidity moves to support it. "I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!" Analysts say Turkey is also likely to seek a more dynamic economic relationship with China and ...
  • US Treasury chief threatens more sanctions on Turkey if pastor not released

    US Treasury chief threatens more sanctions on Turkey if pastor not released

    Economy

    Some analysts said that USA tax cuts passed a year ago by Congress which are boosting corporate earnings and economic growth have reinforced the reasons for raising interest rates. It has gained some support from the announcement late on Wednesday of a Qatari pledge to invest US$15 billion in Turkey. The lira plunged as much as 18% at one point on Friday - the biggest one-day drop since Turkey's 2001 financial crisis - as US President Donald Trump announced he had doubled steel and ...
  • Germany, Qatar vow support for Turkey amid United States pressure

    Germany, Qatar vow support for Turkey amid United States pressure

    Economy

    Since January, the Turkish lira has lost more than 34% of its value against the dollar, pushing up the price of everyday items. The lira firmed as far as 5.75 against the dollar on Wednesday and stood at 5.9350 at 0745 GMT in a move initially triggered by a Turkish court decision to release two Greek soldiers facing espionage charges.
  • Oil edges lower as Cushing build adds to demand fears

    Oil edges lower as Cushing build adds to demand fears

    Economy

    Recently, Indian Oil Corp, which is the biggest refiner in India, purchased as many as 6 barrels of the US crude oil. For example, Pioneer Natural Resources Co., one of the biggest operators in the Permian Basin of West Texas and New Mexico, promised a year ago that "efficiency gains" will cover rising operating costs.
  • Death toll climbs following Italian bridge collapse

    Death toll climbs following Italian bridge collapse

    Economy

    The Morandi Bridge , built in the 1960s, stands on the A10 toll motorway, an important conduit for goods traffic from local ports, which also serves the Italian Riviera and southern coast of France. Some that plunged down with the bridge managed to escape unscathed, including a former goalkeeper for Italian Serie A club Cagliari . On Twitter he says "we are following minute by minute the situation of the bridge collapse in Genoa ".