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,…

Qatar commits USD 500 million to UN, signs multi-year agreements

Monday, 17 December 2018 10:21
Qatar announced a series of agreements with the United Nations that is to see $500 million injected into UN programmes over the next few years. Qatari Deputy Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman al-Thani and Secretary General…

Musk hints at Boring Company’s first tunnel launch in US

Saturday, 15 December 2018 16:32
Billionaire Elon Musk on Saturday tweeted a photograph with “The Boring Company” and “December 18” on it, indicating that his infrastructure and tunnel construction firm is set to launch its first tunnel under Los Angeles in the US. Boring Company…