Oil prices decline on US inventory surge

​New York, Nov 17 (IANS) Oil prices declined on Wednesday in volatile trading as the US reported a 7.7-per cent increase of crude oil inventories. The West Texas Intermediate for December Delivery lost $0.24 to settle at $45.57 a barrel on the New York Mercantile Exchange, while Brent crude for January delivery erased ...

German economic growth rises slightly in Q3

​Berlin, Nov 15 (IANS) The German economic growth rose slightly in the third quarter of 2016, official data showed on Tuesday. Germany's gross domestic product (GDP) increased by 0.2 per cent quarter on quarter, Xinhua news agency quoted German federal statistics office Destatis as saying. ...

Snap Inc confidentially files for tech IPO at $25 bn: Report

​New York, Nov 16 (IANS) Set to become one of the highest-profile stock debuts along with Chinese e-commerce company Alibaba and social media giant Facebook, photo and video sharing app Snap Inc has filed paperwork for an initial public offering (IPO) that may value the messaging platform at as much as $25 billion, media reported. ...

IMF approves $12 bn loan for Egypt

​Cairo, Nov 12 (IANS) The International Monetary Fund (IMF) executive board approved Egypt's request for a three-year $12 billion loan on Friday, media reports said. Meanwhile, Governor of the Central Bank of Egypt (CBE) Tarek Amer said that Egypt has received Friday an initial $2.75 billion from the IMF, Xinhua news agency reported....

Investors' find safe haven in gold as Trump wins election

​New Delhi, Nov 9 (IANS) As equity markets became jittery with Republican Donald Trump being elected the 45th President of the US on Wednesday, investors found safe haven in gold, triggering a spike in prices. ...

Private debt in Britain reaches record of $1.9 trillion: charity

​London, Nov 8 (IANS) Private debt in Britain has reached a record $1.9 trillion, equating to 30,000 pounds, or more than $37,000, for every adult, a charity said on Monday. The average debt for each man and woman is equal to more than 113 per cent of average annual earnings, Xinhua news agency quoted the London-based organisation, The...

Egypt devalues currency, raises interest rates

Cairo, Nov 3 (IANS) The Egyptian central bank on Thursday devalued the country's currency by 48 per cent against the US dollar and raised interest rates by 3 per cent. The official exchange rate of the Egyptian pound will now be 13 to the US dollar, down from 8.8, Xinhua news agency reported. ...

Microsoft shares jump as Cloud, Office lead profits

San Francisco, Oct 21 (IANS) Riding on the success of Cloud, Office and Surface tablets, Microsoft reported revenue of $20.5 billion and net income of $4.7 billion in the first quarter of its 2017 fiscal earnings - a news that took its shares to an all-time high on Thursday. ...

China's contribution to world economy to be 30%

​Beijing, Oct 30 (IANS) The contribution of China to the world economy will remain around 30 percent for the next five years, an expert said in remarks published on Sunday. The transition of China's economy would become an important driver of global economic growth, the Global Times quoted Chi Fulin, director of the China Institute for...

Investing in India good for Chinese capital: Report

Beijing, Oct 29 (IANS) There are many reasons why investing in India could boost the Chinese capital's clout in the Indian economy, a Chinese specialist says. Investing in India is an inevitable choice of capital, which essentially pursues profits, said Ge Cheng, Assistant Research Fellow at the National Institute of International Strate...

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