Oil prices extend gains amid Middle East tensions, rate cut hopes

The global benchmark rose 4.3% on Thursday and is heading for a weekly gain of more than 4% after four weeks of decline.

Brent crude was up 39 cents, or 0.6%, at $64.84 a barrel by 0034 GMT News

China could build 30 ‘Belt and Road’ nuclear reactors by 2030, says official

But the pace of construction at home has slowed down amid technological problems and delays at some key projects, as well as a suspension of new approvals that lasted over three years.

China needed to improve research and development (PTI File photo) News

Crude oil prices rally amid escalating tensions in Middle East

Oil prices climbed around 3% on Thursday amid escalating tensions in the Middle East as a U.S. official said one of the country's military drones was shot down by an Iranian missile. 

Oil prices, Brent crude futures, OPEC, oil demand, Russia , Russia, WTI crude News

Incoming Pentagon chief will attend NATO meeting in Brussels next week

The meeting comes as NATO grapples with a dispute between alliance members the United States and Turkey over Ankara's decision to purchase a Russian air defense system.

Shanahan will remain acting Pentagon chief until Esper formally takes the reins on Monday. (Reuters File photo) News

Iran Revolutionary Guards shot down US ‘spy’ drone over Hormozgan province, says media report

Tension between Iran and the United States has spiked since last year when President Donald Trump exited a 2015 nuclear deal between Tehran and major powers and reimposed sanctions on the country.

Iranian President Hassan Rouhani (AP File photo) News

President Ram Nath Kovind says India to unleash more reforms to boost economic growth

Newly appointed Finance Minister Nirmala Sitharaman will present the annual budget on July 5.

President Ram Nath Kovind addressing joint sitting of both the Houses of the Parliament (ANI Photo) News

Saudi crown prince Mohammed bin Salman linked to journalist Jamal Khashoggi murder in UN report

After a six-month investigation, the 100-page report by the U.N. special rapporteur on extrajudicial executions, Agnes Callamard, accused Saudi Arabia of a "deliberate, premeditated execution".

A demonstrator holds a poster with a picture of Saudi journalist Jamal Khashoggi (Reuters photo) News

Stocks approach record as Fed soothes Wall Street’s fears

In its statement following a two-day policy meeting, the Fed held rates steady, as expected, but dropped a previous promise to be "patient" in adjusting rates.

The S&P 500 has gained 6% in June (Reuters File photo) News

US-China trade war: Dell, HP, Microsoft, Intel oppose proposed tariffs on laptops, tablets

Dell, HP and Microsoft, which together account for 52% of the notebooks and detachable tablets sold in the United States, said the proposed tariffs would increase the cost of laptops in the country.

Trump's plan to hit another $300 billion worth of Chinese goods with tariffs (Representational image) News

Donald Trump says he will meet Russian President Vladimir Putin at G20 summit next week

President Donald Trump said on Wednesday he will meet with Russian President Vladimir Putin at next week's G20 summit in Japan.

US President Donald Trumps with Russian President Vladimir Putin. (Reuters File photo) News

Airbus seals deals with big buyers, following Boeing’s MAX sale

Industry experts estimate the deal for the 32 aircraft could be valued at around $4.5 billion, based on a slight premium to the A321neo's list price of $129.5 million, although most airlines get significant discounts.

An Airbus A350-1000 performs during the 53rd International Paris Air Show at Le Bourget Airport near Paris (Reuters photo) News

US tells India it is mulling caps on H-1B visas to deter data rules

India last year mandated foreign firms to store their payments data "only in India" for supervision, and New Delhi is working on a broad data protection law that would impose strict rules for local processing of data it consi

h1b visa, h1b, h1b visa status, h1b lottery 2019, h1b visa process, h1b visa, meaning h1b lottery results 2020, h1b lottery 2019 results, h1b visa validity News

Trade war: China to stand firm as talks with US restart

China and the United States earlier this week said they were reviving talks ahead of a meeting next week between Presidents Donald Trump and Xi Jinping

China has vowed to not give in on issues of principle or under U.S. pressure. (Representational image) News

Gold hits over 5-year high as Fed hints at rate cuts

Gold prices jumped to their highest level in more than five years on Thursday, after the U.S. Federal Reserve signalled possible interest rate cuts later this year.

U.S. gold futures surged 3% to $1,397.70 an ounce. News

Chinese President Xi Jinping leaves for first state visit to North Korea

Xi will be in North Korea for two days becoming the first Chinese leader to visit the reclusive country in 14 years, and could bring fresh support measures for its floundering, sanctions-bound economy.

Neighbouring China is the reclusive North's only major ally (AP File photo) News

Dollar on defensive after Fed signals readiness to cut rates

The dollar was on the defensive on Thursday after the Federal Reserve signalled it was ready to lower interest rates to combat growing global and domestic risks.

The dollar index against a basket of six major currencies was little changed at 97.188 after losing more than 0.5% overnight. News

Oil prices rise as US stockpiles drop, OPEC agrees meeting date

Refined products also posted surprise drawdowns due to a rise in refining and crude exports, as well as a drop in crude production.

Brent crude futures had risen 82 cents, or 1.3%, to $62.64 by 0026 GMT. News

US tariff threat: iPhone-maker Apple wants suppliers to assess cost of shift from China

Apple has asked its major suppliers to assess the cost implications of moving 15%-30% of their production capacity from China to Southeast Asia as it prepares for a restructuring of its supply chain, according to a Nikkei Asi

Industry News

Who pays Donald Trump’s tariffs, China or US customers or companies?

Importers often pass the costs of tariffs on to customers - manufacturers and consumers in the United States - by raising their prices.

US china trade war, Donald Trump tariffs, US customers, Chinese exports, Xi Jinping, CBP, China tariffs News

Gold prices dip on hopes for US-China trade talks, dovish Fed

Gold prices fell on Wednesday as optimism over Sino-U.S. trade talks and hopes of rate cut from central banks hit demand for bullion ahead of the U.S. Federal Reserve's monetary policy decision later in the day.

Spot gold was steady at $1,345.28 as of 0130 GMT. News

Trade war: China says history shows positive outcome from US talks possible

Speaking at a daily news briefing, foreign ministry spokesman Lu Kang said it was important to find a solution that was acceptable to both sides.

Trade war, US China trade war, China, US, G20 Summit, President Trump, President Xi Jinping, Donald Trump, Xi Jinping  News

Monsoon in India: All eyes on rainfall that is critical for the economy

The India Meteorological Department (IMD) has forecast average rainfall in 2019, while the country's only private forecaster Skymet has predicted below-normal rainfall.

The monsoon arrived in Kerala on June 8 versus the usual June 1. (PTI File Photo) News

Watch: Eoin Morgan’s record-breaking six-fest helps England crush Afghanistan

Morgan smashed a career-best 148 -- with 118 coming from sixes and fours -- off 71 balls to power England to 397-6, their highest World Cup total.

Morgan News

Wall Street nears record as mood on trade again turns optimistic

Comments by European Central Bank President Mario Draghi indicating the possibility of fresh rate cuts or asset purchases also lifted sentiment.

The Fed is widely expected to leave interest rates unchanged at its two-day policy meeting that ends Wednesday, while laying the foundation for a cut later this year. News

Facebook’s cryptocurrency ambitions face privacy concerns, political backlash

Those issues have led some government officials to call for Facebook to incur penalties, or be forcibly broken up. Kevin Weil, who runs product for the Libra initiative, said Facebook hopes it can bring global regulators to t

Facebook executives and others associated with Libra have big aspirations. (Reuters photo) News

US, China rekindle trade talks ahead of Donald Trump-Xi Jinping G20 meeting

Trump said on Tuesday that teams from the two sides would begin preparations for the leaders to sit down at the G20 summit in Osaka.

In a speech Tuesday night formally launching his 2020 re-election campaign, Trump said he had taken "historic action to confront China's chronic trading abuses." (Reuters image) News