Chinese yuan trades at 6.7356 per dollar

Tuesday, 29 January 2019 12:09
In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day, Xinhua news agency reported. The central parity rate of the yuan against the US dollar…

UK firms plan mass exodus over no-deal Brexit

Monday, 28 January 2019 10:36
The British Chambers of Commerce said on Saturday that it believed the companies that had already gone ahead with their plans represented the “tip of the iceberg” and that many of its 75,000 members were already spending vital funds to…

China’s economic growth rate slowest since 1990

Monday, 21 January 2019 15:43
China’s economy grew 6.6 per cent in 2018, the weakest annual performance since 1990, confirming a slowdown in the world’s second-largest economy that could threaten global growth, according to official data on Monday. China’s growth in 2018 was down from…

Indra Nooyi under Trump administration consideration to head World Bank

Thursday, 17 January 2019 10:54
Indian-American business leader Indra Nooyi, who headed the multinational PepsiCo, is under consideration for heading the World Bank, according to multiple media reports. If she is nominated by US President Donald Trump to be the Bank’s president, she will succeed…

Bangladesh, ADB sign deal for rural road network

Monday, 14 January 2019 10:53
The Asian Development Bank (ADB) and the Bangladeshi government Sunday signed an agreement for $200 million in loans to improve the rural road network in Bangladesh. Monowar Ahmed, secretary of Bangladeshi Economic Relations Division (ERD), and Manmohan Parkash, country director…

Chinese yuan edges up to 6.8586 against US dollar

Friday, 04 January 2019 10:00
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 45 basis points to 6.8586 against the US dollar Friday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is…

Oman-based budget airline Salam Air eyes Kerala operations

Sunday, 23 December 2018 09:38
Sultanate of Oman-headquartered budget airline Salam Air is getting ready to operate to Kerala, according to an official of the airline. Budget airline’s CEO Mohammed Ahamed has said that they have started necessary work in this direction and are waiting…

Qatar bank transacts on Infosys’ Finacle digital platform

Friday, 21 December 2018 09:25
Using software major Infosys’ Finacle digital platform, Doha-based leading Qatar National Bank (QNB) is offering its customers multi-currency payment facility, said the IT major on Thursday. “As part of its digital platform, QNB has scaled into a unified, multi-currency and…

US Fed raises rates in defiance of Trump

Thursday, 20 December 2018 11:21
The US Federal Reserve has raised interest rates again, defying warnings from President Donald Trump against the move. Officials at the US central bank on Wednesday voted to lift the Fed’s key interest rate by 0.25 per cent, to a…

Elon Musk unveils underground tunnel prototype

Wednesday, 19 December 2018 19:34
Tesla founder and CEO Elon Musk has unveiled a prototype of high-speed tunnel system to transport passengers in cabins or carry them in their own vehicles using car elevators — a solution to ease urban traffic congestion. The test tunnel,…