US Fed hikes key interest rate by 0.25%

Washington, Dec 15 (IANS) The US Federal Reserve on Wednesday increased its key interest rate by 25 basis points in the first rate hike in 2016 and just the second in a decade. ...

Moody's retains negative outlook on Asia-Pacific banks for 2017

​Singapore, Dec 13 (IANS) Rating agency Moodys Investors Services said on Tuesday that its outlook for banks in the Asia-Pacific region remains negative for 2017 based on the assumption of a difficult operating environment impacting banks' asset quality and profitability. ...

Mobile money can help lift people out of poverty: Study

New York, Dec 9 (IANS) Mobile money services, which allow users to store and exchange monetary values via mobile phone, can help lift people in developing economies out of poverty, a new study suggests. ...

Chinese inflation up 2.3 per cent in November

Beijing, Dec 9 (IANS) China's consumer price index, a main gauge of inflation, grew 2.3 per cent year on year in November, up from October's 2.1 per cent, the National Bureau of Statistics (NBS) said on Friday. ...

Iran to change national currency unit to 'toman'

​Tehran, Dec 7 (IANS) The Iran government on Wednesday approved a proposal to change the name of the country's currency unit from rial to toman, media reported. One toman equals 10 rials and one dollar is worth about 3,900 tomans in Iran's unofficial market currently, Xinhua news agency reported. ...

Russian economy should not develop in isolation: Putin

​Moscow, Dec 6 (IANS) The Russian economy is an integral part of the global economic system and should not develop in isolation from it, President Vladimir Putin has said. "We have never believed and we should not believe that we must develop our economy in isolation from the global economy. The Russian economy has already become an...

Morocco's net international reserves rise by 13.5%

​Rabat, Dec 5 (IANS/MAP) Moroccos net international reserves amounted to MAD 250.2 billion (around $24 billion) until November 25, 2016, recording a 13.5 per cent increase on an annual basis, Al-Maghrib Bank said. ...

Fitch lowers India's GDP outlook to 6.9% for 2016-17

​London, Nov 29 (IANS) Fitch Ratings has lowered India's GDP outlook for the current year to 6.9 per cent from the 7.4 per cent estimated earlier. According to its Global Economic Outlook (GEO) report, released here on Tuesday, this was due to the cash crunch created in the economy following the demonetisation move. ...

US stocks end at record highs on Black Friday

New York, Nov 26 (IANS) US stocks rallied on Friday, with all three major indices refreshing closing records, as investors continued to digest the Federal Reserve's minutes from its November meeting. ...

Chinese yuan falls to almost 8-year low

Beijing, Nov 15 (IANS) The Chinese yuan on Tuesday fell sharply to an almost eight-year low against the US dollar. The central parity rate of the yuan weakened 204 basis points to 6.8495 against the dollar, according to the China Foreign Exchange Trading System (CFETS). ...

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