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Fire Breaks Out At Oppo India Factory, No Casualties - Police

A fire swept through a warehouse inside a factory compound owned by Chinese smartphone maker Oppo on the outskirts of the Indian capital on Saturday, a senior police official said.

28 Nov 2020 9:06 pm
We Must Look to Leverage FTAs With Countries Having Transparent Trading Mechanisms, Says Piyush Goyal

He said that in free trade agreements (FTAs) with countries including Japan, Korea, and Asean, business communities of these regions benefited more by getting market access in India.

28 Nov 2020 8:52 pm
Sri Lanka Willing to Meet Its Debt Obligations, Says Govt After Fitch Downgrades Country's Ratings

Fitch Ratings said on Friday it was downgrading Sri Lanka from "B-" to "CCC", barely above default, after the government's 2021 budget showed too steep revenue projections, following earlier tax cuts and a higher deficit for 2021 than 2020.

28 Nov 2020 8:42 pm
Retail Inflation for Industrial Workers Rises to 5.91% in October Due to Higher Prices of Certain Food Items

Food inflation stood at 8.21 per cent in October against 7.51 per cent of the previous month (September 2020) and 8.60 per cent during the corresponding month (October 2019) a year ago.

28 Nov 2020 6:28 pm
Brexit Negotiations Restart In Person As Clock Ticks Down

Facetoface negotiations between Britain and the European Union over a trade deal restarted on Saturday, in a lastditch attempt to find agreement with just five weeks to go before their current relationship ends.

28 Nov 2020 6:24 pm
Punjab Govt Accepts Centre's Borrowing Option to Meet GST Shortfall

The Centre has already borrowed Rs 24,000 crore on behalf of the states in four instalments and has passed it on to 23 states and three Union Territories on October 23, November 2, November 9 and November 23.

28 Nov 2020 5:17 pm
HSBC Considers Exit From U.S. Retail Banking - FT

HSBC Holdings Plc is considering a complete exit from retail banking in the United States after narrowing the options for how to improve performance at its struggling North America business, the Financial Times reported on Saturday.

28 Nov 2020 4:48 pm
Slower GDP Contraction for India in Q2, But Economic Pain will Linger on for Several Quarters

The GDP growth in Q2 (July-September) was -7.5% against -23.9% degrowth in the June quarter, bringing all-round cheer. But this cheer needs to be tempered with caution. The government has asserted the Q2 data point to a V-shaped recovery. Will it hold?

28 Nov 2020 3:48 pm
Asian Development Bank Approves $300 Million Policy-based Loan to Cash-strapped Pakistan

While COVID-19 hit Pakistan at a critical point in its macroeconomic recovery, the government's ongoing efforts to ensure stability have started showing encouraging results this fiscal year, Mukhopadhyay said in a statement.

28 Nov 2020 3:44 pm
Petrol Price Crosses Rs 82-mark, Diesel Above Rs 72 a Litre Led by Vaccine Hopes

Petrol price on Saturday was hiked by 24 paise per litre and diesel by 27 paise as hopes of a vaccine development led to a rally in international oil prices.

28 Nov 2020 12:40 pm
Sebi Bars NDTV Promoters and Other Individuals for Insider Trading Activities for Two Years

Prannoy Roy was the chairman and whole time director and Radhika Roy was the managing director during period under investigation and were part of the decision making chain that had led to crystallization of the UPSI.

28 Nov 2020 12:04 pm
Allowing Border Agents To Question Huawei CFO Before Her Arrest Was Best, Officer Testifies

A Canadian police officer stationed at the Vancouver airport who rejected a plan to arrest Huawei Chief Financial Officer Meng Wanzhou on the plane she arrived on two years ago, on Friday testified that at the time he told other police officers the best course was to allow border agents to interrogate Meng before arresting her.

28 Nov 2020 8:24 am
Biogen Bets On Depression Drug In $1.5 Billion Deal With Sage Therapeutics

Biogen Inc will take a $650 million stake in Sage Therapeutics and make an upfront payment of $875 million to jointly develop and sell treatments for depression and other neurological disorders, the two companies said on Friday.

28 Nov 2020 8:18 am
Fitch Downgrades Sri Lanka On Rising Default Risk

Fitch downgraded Sri Lanka's sovereign credit rating to CCC on Friday, warning the country's debt levels were set to soar past 100% of GDP and that it was increasingly at risk of default.

28 Nov 2020 8:15 am
Airbus Re-sells Six Unwanted Jets Built For AirAsia

Airbus has found buyers for six aircraft from the A320neo family rejected by one of its main customers, Malaysia's AirAsia, as it works off a surplus left by the coronavirus crisis, industry sources said.

28 Nov 2020 8:15 am
EU Delays Rules On Carbon Market Permit Handouts

The European Commission will confirm in February rules to calculate industries' free carbon permits over the next five years, it said on Friday, pushing back a plan to finish the regulations this year.

28 Nov 2020 8:06 am
British, Irish Prime Ministers Discuss EU Trade Negotiations

British Prime Minister Boris Johnson spoke with Irish Taoiseach Micheal Martin on Friday evening and discussed progress in UKEU trade negotiations, the UK government said, at a time when differences remained with the EU on a Brexit trade deal.

28 Nov 2020 6:42 am
Etsy, Adobe Rise; National Oilwell, Comerica Fall

Stocks that moved heavily or traded substantially Friday:

28 Nov 2020 1:33 am
$51 Billion Orders Likely to Be Executed by Navy for Surface Ships, Submarines in 10 Yrs: Govt

Naik was addressing a virtual meet on opportunities at Goa Shipyard Limited and Mazagao Dock Shipbuilders Limited, organised by the Confederation of Indian Industry.

28 Nov 2020 12:02 am
Hedge Fund Billionaire Dalio To Open Office In Singapore

Ray Dalio, founder of hedge fund Bridgewater Associates LP, is opening an office in Singapore to run his investments and philanthropy in the region.

27 Nov 2020 11:03 pm
Miners, Smelters Still Divided On Copper Processing Charges

Copper miners and smelters are late agreeing charges for processing concentrate for next year, three sources with knowledge of the talks said, with smelters seeking a rollover while miners are pointing to a tight spot market.

27 Nov 2020 11:00 pm
Gold Dives Below $1,800 On Optimism For Economic Recovery

Gold slumped 2%, breaking below the key $1,800 support level to a near fivemonth trough on Friday, as growing optimism about a quick vaccinefuelled economic recovery and a smooth White House transition powered share market to fresh records.

27 Nov 2020 10:57 pm
Airbus Re-sells 6 Jets Built For AirAsia, Denting Surplus

Airbus has found homes for six A320neofamily aircraft rejected by one of its largest customers, Malaysia's AirAsia, as it makes further progress in reducing a surplus of jets left by the coronavirus crisis, industry sources said.

27 Nov 2020 10:57 pm
FDI Up 15% to $30 Billion During April-Sept 2020: Govt Data

Inflow of FDI during April-September 2019-20 stood at $26 billion, as per the data of the Department for Promotion of Industry and Internal Trade (DPIIT).

27 Nov 2020 10:47 pm
Brazil Unemployment Rate Hits Record High 14.6%, As People Return To Look For Work

The number of registered Brazilians out of work and the national unemployment rate rose to the highest on record, official figures showed on Friday, as the easing of COVID19 lockdown measures encouraged people to look for work again.

27 Nov 2020 10:42 pm
Hyundai, Kia Fined For Delaying US Engine Failure Recalls

Hyundai and Kia must pay $137 million in fines and safety improvements because they moved too slowly to recall over 1 million vehicles with engines that can fail.

27 Nov 2020 10:42 pm
Hyundai, Kia Agree To $210 Million U.S. Auto Safety Civil Penalty

Hyundai Motor Co's and Kia Motors Corp's U.S. units on Friday agreed to a recordsetting $210 million civil penalty after U.S. auto safety regulators over the untimely recalls of 1.6 million engines for fire risks.

27 Nov 2020 10:39 pm
Airbus Sells 6 Jets Rejected By AirAsia, Denting Surplus - Sources

Airbus has found homes for six A320neofamily aircraft rejected by one of its largest customers, Malaysia's AirAsia, as it makes further progress in reducing an overhang of jets left by the coronavirus crisis, industry sources said.

27 Nov 2020 10:33 pm
Global Markets: Stocks At Record High As Risk Trade Continues, Dollar Under Pressure

Stocks across the globe rose on Friday and remained on track for their strongest monthly performance on record as recent vaccine progress, Joe Biden's U.S. presidential election win and a weaker dollar continue to entice risktaking.

27 Nov 2020 10:09 pm
Gold Dives Below Key $1,800 Threshold In Technical Sell-off

Gold slumped 2% to a near 5month low on Friday, breaking below a key technical level of $1,800 an ounce, as investors dumped the metal on hopes of a virus vaccine and a smooth transition in the U.S. presidency.

27 Nov 2020 10:06 pm
Asian LNG Spot Prices Rise On Oil Surge And Heating Demand

Asian spot prices for liquefied natural gas (LNG) rose this week, driven by a surge in oil prices and a potentially colder start to winter and higher heating demand.

27 Nov 2020 9:00 pm
Wall Street Rises, Nasdaq Hits Record High On Recovery Hopes

Wall Street's main indexes rose and the Nasdaq hit a record high on Friday as optimism around an economic rebound next year outweighed concerns around an expected surge in coronavirus infections following the Thanksgiving holiday.

27 Nov 2020 9:00 pm
Speed of India's Economic Recovery a 'Pleasant Surprise': Niti Aayog Vice Chairman

India's economy recovered faster than expected in the September quarter as a pickup in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand.

27 Nov 2020 8:45 pm
Japan Ruling Party Calls For Major Green Investment In Draft Plan

Japan's ruling party will call on the government to promote environmental investment with a major decadelong spending programme for the country, whose Prime Minister Yoshihide Suga has made a green society a key policy priority.

27 Nov 2020 8:36 pm
Wall St Rises, Nasdaq Hits Record High On Recovery Hopes

Wall Street's main indexes rose and the Nasdaq hit a record high on Friday as optimism around an economic rebound next year outweighed concerns around an expected surge in coronavirus infections following the Thanksgiving holiday.

27 Nov 2020 8:36 pm
Pandemic Fears, Online Deals Thin U.S. Black Friday Crowds

Masked shoppers turned up in smaller numbers at major U.S. retailers including Macy's Inc, Walmart Inc and Best Buy on Black Friday as early online deals and worry about the spike in COVID19 cases dulled enthusiasm for trips to the mall.

27 Nov 2020 8:12 pm
Exclusive: VW CEO Pushes For Contract Extension In Vote Of Confidence Move - Sources

Volkswagen Chief Executive Herbert Diess has asked the families who control a majority voting stake to back a contract extension in a bid to break a deadlock at the world's largest carmaker, two people familiar with the matter said.

27 Nov 2020 8:00 pm
Wall Street Headed Higher On Recovery Hopes After Thanksgiving Holiday

Wall Street's main indexes were set to open higher on Friday as optimism around an economic rebound next year outweighed concerns around an expected surge in coronavirus infections following the Thanksgiving holiday.

27 Nov 2020 8:00 pm
Swiss Drugmaker Vifor Had Bid Interest But Talks Halted - Sources

Swiss drugmaker Vifor Pharma had a recent takeover approach from at least one private equity firm, but talks were halted due to differences over price, two sources familiar with the situation said.

27 Nov 2020 8:00 pm
Biogen, Sage Therapeutics In $1.5 Billion Deal To Develop, Sell Neurological Treatments

Biogen Inc will take a $650 million stake in Sage Therapeutics and pay $875 million in upfront payment as they jointly develop and sell treatments for depression and other neurological disorders, the two companies said on Friday.

27 Nov 2020 8:00 pm
Global Markets: Stocks Reach Records; Dollar Settles Lower

World stocks remained on course for their best month ever on Friday as recent vaccine progress, Joe Biden's U.S. presidential election win, hopes for further stimulus, a commodity surge and descending dollar all lifted the spirits.

27 Nov 2020 7:18 pm
Forex Reserves Climb $2.518 Billion to Record $575.29 Billion, Says RBI Data

In the previous week ended November 13, the reserves had surged by USD 4.277 billion to USD 572.771 billion.

27 Nov 2020 7:14 pm
Biogen, Sage Therapeutics Enter $1.5 Billion Deal To Develop, Sell Neurological Treatments

Biogen Inc will take a $650 million stake in Sage Therapeutics and pay $875 million in upfront payment as they jointly develop and sell treatments for neurological disorder, the two companies said on Friday.

27 Nov 2020 7:06 pm
Fiscal Deficit at 120% of Annual Target at October-end, Impacted by Covid-19 Lockdown

The deficit widened mainly on account of poor revenue realisation. The lockdown imposed to curb spreading of coronavirus infections had significantly impacted business activities and in turn contributed to sluggish revenue realisation.

27 Nov 2020 7:00 pm
Eight Core Industries' Output Contracts 2.5% in Oct Amid Decline in Production of Crude Oil, Refinery Products

The production of eight core sectors had contracted 5.5 per cent in October 2019, data released by the Commerce and Industry Ministry showed on Friday.

27 Nov 2020 6:54 pm
Commerzbank Reshuffle Continues With New Head Of Corporate Business

Commerzbank appointed a new board member to oversee the German lender's corporate business on Friday after his predecessor left over differences about the division's future, the bank said on Friday.

27 Nov 2020 6:54 pm
Business Events Scheduled For The Coming Month

Business events and economic reports scheduled for the coming month:

27 Nov 2020 6:42 pm
India's GDP Contracts 7.5 % in July-September, Economy Enters Technical Recession

The pandemic-induced lockdowns had led to a steep contraction of 23.9% in the GDP for the April-June quarter as compared to the same period a year ago.

27 Nov 2020 6:37 pm
Brexit Goes Down To The Wire: EU And UK Say Big Differences Remain

The European Union and Britain said on Friday there were still substantial differences over a Brexit trade deal as the EU chief negotiator prepared to travel to London in a lastditch attempt to avoid a tumultuous finale to the fiveyear Brexit crisis.

27 Nov 2020 6:06 pm
Ethiopian PM Tells African Envoys He Will Protect Civilians In Tigray

Ethiopian Prime Minister Abiy Ahmed's government will protect civilians in the northern region of Tigray, he told African peace envoys on Friday, a day after he announced the military was beginning the final phase of an offensive there.

27 Nov 2020 5:54 pm