G20 summit: China says will not allow Hong Kong issue to be discussed

The extradition bill and police reaction to the protests drew international criticism from rights groups.

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HSBC-backed startup aims to become LinkedIn of global trade

Hong Kong-based Serai, which is a wholly-owned subsidiary of Europe's biggest bank by assets, started formal operations last week, and is part of HSBC Chief Executive John Flint's plan to invest $15-$17 billion by 2020 on tec

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China says US, China should make compromises in trade talks

China and the United States last week said they were reviving talks ahead of this week's meeting between presidents Donald Trump and Xi Jinping, cheering financial markets hoping for a de-escalation in a trade war that is dam

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Earthquake of magnitude 7.5 shakes East Timor, Indonesia; no tsunami feared

The quake was also felt on Indonesia's holiday island of Bali, several people said on social media. But there were no immediate reports of damage or injury in Indonesia, said Rita Rosita, an official of the national disaster

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Gold holds near 6-year peak on weaker dollar, Middle East tensions

Spot gold was up 0.6% at $1,406.56 per ounce as of 0114 GMT, heading for a fifth straight session of gains.

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Oil prices rise as Middle East tensions simmer

U.S. President Donald Trump said last week that he called off a military strike to retaliate for Iran's downing of an unmanned U.S. drone, and he said on Sunday that he was not seeking war with Iran.

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Global markets: Asian stocks subdued, oil rises on US-Iran tensions

Wall Street shares closed slightly lower on Friday after hitting a record high thanks to signals last week from the Federal Reserve that it would cut interest rates soon to bolster its economy from protracted trade conflicts.

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Politicians need to move fast as tech firms like Facebook moving into finance: BIS

The social media group's announcement last week that it wants to expand into payments and launch its own coin Libra has focused minds of regulators and central bankers, the BIS said.

Banking & Finance News

Scooter, bike makers given two weeks to frame electric vehicle plan

During Friday’s meeting, government officials argued that switching to EVs is of national importance so India does not miss out on the global drive towards environmentally cleaner vehicles.

Bike News

India’s rise as new space power ignites investors’ interest in space-tech startups

The family office of Suman Kant Munjal, who belongs to the billionaire family that controls Indian motorcycle maker Hero MotoCorp, and Deepika Padukone, one of Bollywood's biggest stars, are two of the other seven investors.

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Magnitude 5.6 earthquake strikes near remote community in northern California

The tremor was estimated to have a depth of 9.4 km (5.8 miles).

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China’s President Xi Jinping to attend G20 summit, expected to meet Donald Trump

The G20 summit will be held in the city of Osaka on June 27-29.

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North Korea’s Kim Jong Un says will consider letter received from Donald Trump

U.S.-North Korea talks have been stalled since a failed summit in February between Trump and the North Korean leader in Hanoi, Vietnam.

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US President Donald Trump says new sanctions on Iran to start Monday, dials back rhetoric

U.S. President Donald Trump said on Saturday he would impose fresh sanctions on Iran but that he wanted to make a deal to bolster its flagging economy, an apparent move to defuse tensions following the shooting down of an unm

World News

Niti Aayog asks scooter, bike makers to draw up plan for EVs

Niti Aayog officials met with executives from companies including Bajaj Auto, Hero MotoCorp and TVS late on Friday, giving them two weeks to come up with the plan, according to one of the executives.

Industry News

Bitcoin under fire: Global money-laundering watchdog launches clamp down on cryptocurrencies

Financial Action Task Force (FATF), set up 30 years ago to tackle money laundering, told countries to tighten oversight of cryptocurrency exchanges to stop digital coins being used to launder cash

Markets News

Amazon gets US patent to use delivery drones for surveillance service

According to the patent, the surveillance function of the drone can be limited through geo-fencing, a technology used to draw a virtual boundary around the property under surveillance.

The application for the patent was filed by the e-commerce giant in 2015 and granted on June 4. (AP File photo) News

Donald Trump says he halted US strike on Iran over possible casualties

Trump said US sanctions imposed on Iran were having an effect and, without mentioning details, said more were added Thursday night.

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India becomes investment darling for sovereign wealth and pension funds

The attention sovereign funds are giving India is like that they have paid to China, now clouded by a trade war with the United States, said a banker specialising in institutional investors.

In the public markets, funds were focused on public equity and fixed income, he said. (Representational image) News

Budget 2019: Modi government may let budget deficit rise as tax receipts fall short

Budget 2019 India: New Finance Minister Nirmala Sitharaman presents her first budget on July 5, for the fiscal year ending March 2020.

Budget 2019-20: Last Saturday, Modi met state chief ministers and advisers to discuss possible stimulus and ways to grow GDP to $5 trillion by 2024, from about $2.7 trillion in the March quarter. News

Donald Trump says hard to believe Iranian shooting of US military surveillance drone was intentional

The United States, which called the event an "unprovoked attack" in international airspace, is using economic sanctions to pressure Iran to contain its nuclear and ballistic missile programs and to limit its role in regional

Tensions with Iran flared with Trump's withdrawal last year from a 2015 nuclear accord with Iran (AP Photo) News

Asian prices slip as cargoes flood; North Asian demand slows

At least two commissioning cargoes, one for France's Total and another for Spain's Repsol, were delayed, according to industry sources and shiptracking data.

Prices for July delivery are estimated at about $4.40 per mmBtu, stable from the previous week, they added. News

Ecuador judge frees Swedish programmer close to WikiLeaks founder Julian Assange; probe continues

But Ola Bini, a 36-year-old software developer who has lived in Ecuador for five years, remains under investigation in the case and will be barred from leaving the country, according to the court ruling.

Bini was detained in April at the Quito airport before boarding a flight to Japan (AP Photo) News

‘I love you, China’: North Korea woos Xi Jinping in lavish state visit

China is the North's only major ally and Xi's visit is aimed at bolstering an ally under pressure from U.N. sanctions over its nuclear and missile programmes and a breakdown in denuclearisation talks with the United States.

Xi arrived in Pyongyang on Thursday for a two-day visit (Reuters photo) News

Gold scales near six-year peak on dovish Fed signals

Gold prices climbed to a near six-year high on Friday after the U.S. Federal Reserve indicated earlier this week that it could cut interest rates as early as July, prompting a sharp fall in the dollar and U.S. Treasury yields

U.S. gold futures rose 0.1% to $1,398.10 an ounce. News

US has no plans to cap H-1B work visa program, says State Department

U.S. Secretary of State Mike Pompeo is scheduled to visit New Delhi next week for talks that will include areas of disagreement between the two countries over trade.

There is no country-specific limit on the 85,000 H-1B work visas the United States issues every year (PTI File photo) News
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