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China's top banks to issue offshore loans to help developers repay debt (Photo: Reuters)

China's top banks to issue offshore loans to help developers repay debt

Dec 02, 2022

China has stepped up support in recent weeks to undo a liquidity squeeze that has stifled the sector, which makes up a quarter of the world's second-largest economy and has been a key driver of growth.

European stocks are down 0.3% this morning, with oil majors weighing on the index while real estate stocks have got a lift

Oil and miners drag on European stocks

Dec 02, 2022

European stocks are down 0.3% this morning, with oil majors weighing on the index while real estate stocks have got a lift

Representative image

Inflation bites! Living cost in UK jumps 23% in 15 months. Here's where US and India stand

Dec 02, 2022

An SBI Ecowrap report highlighted that India performed the best in terms of keeping the rise in food and shelter prices under check

UK PM Rishi Sunak says racism must be confronted

UK PM Rishi Sunak says he faced racism in the past; says ‘must confront it’

Dec 02, 2022

UK PM Rishi Sunak said that it is important to confront racism whenever one encounters it.

HSBC is cutting as many as 15% of its 2,000 senior operations managers worldwide, as it attempts to streamline its management ranks and reduce costs

HSBC shedding at least 200 senior operations managers in global cuts

Dec 02, 2022

HSBC is cutting as many as 15% of its 2,000 senior operations managers worldwide, as it attempts to streamline its management ranks and reduce costs

The Biden administration on Friday banned the sale or import of new telecommunications equipment from China's Huawei Technologies and ZTE, citing national security risks

China will move to protect its firms following US telecoms ban

Dec 02, 2022

The Biden administration on Friday banned the sale or import of new telecommunications equipment from China's Huawei Technologies and ZTE, citing national security risks

World's poorest countries now owe $62 billion in annual debt service to official bilateral creditors, an increase of 35% over the past year, World Bank President David Malpass said

World Bank chief says poorest countries owe $62 bln on bilateral debt

Dec 02, 2022

World's poorest countries now owe $62 billion in annual debt service to official bilateral creditors, an increase of 35% over the past year, World Bank President David Malpass said

Iran has been seeing protests following the death of Mahsa Amini, a 22-year-old Kurdish woman, in September.

Iranian man shot dead for celebrating national team’s exit from World Cup

Dec 01, 2022

Mehran Samak, 27, was shot dead after honking his car horn in Bandar Anzali, a city in the north-west of Tehran, human rights activists said.

The 18th edition of the India-US joint military exercise, called 'Yudh Abhyas,’ is currently underway in Uttarakhand, around 100 km from the LAC.

India-US ‘Yudh Abhyas’ near LAC irks China, it warns US not to interfere in its ties with India: Report

Dec 01, 2022

The nearly two-week exercise began earlier this month. The military exercise is conducted annually between India and the US to exchange best practices, tactics, techniques and procedures between the armies of the two nations.

Will Rishi Sunak curb international student intake?

Is Rishi Sunak planning to limit foreign students in UK universities? Here's what we know so far 

Dec 01, 2022

Compared to 2019 there was an increase of 215 per cent in visas granted to Indian students in June 2022. Overall, 4,86,868 sponsored study visas were granted, which is an increase of 71 per cent from 2019.

There are currently about 200 companies in the pipeline for initial public offerings on the Nasdaq, which is below the range of the last few years of 250 to 300, Friedman said during an interview

Nasdaq CEO hopeful IPOs will pick up in 2023, calls for more crypto regulation

Dec 01, 2022

There are currently about 200 companies in the pipeline for initial public offerings on the Nasdaq, which is below the range of the last few years of 250 to 300, Friedman said during an interview

Moderna Inc's top scientist said on Tuesday that the vaccine maker has learned how to better recruit from diverse populations for its clinical trials from running its COVID-19 vaccine studies

Moderna exec says COVID trials improved diversity recruiting

Dec 01, 2022

Moderna Inc's top scientist said on Tuesday that the vaccine maker has learned how to better recruit from diverse populations for its clinical trials from running its COVID-19 vaccine studies

Jerome Powell said that it was time to slow the pace of coming interest rate hikes while also signaling a protracted economic adjustment to a world where borrowing costs will remain high

Fed's Powell: Rate hikes to slow, but adjustment just beginning

Dec 01, 2022

Jerome Powell said that it was time to slow the pace of coming interest rate hikes while also signaling a protracted economic adjustment to a world where borrowing costs will remain high

Brazilian soccer great Pele (File photo: Reuters)

Brazil soccer legend Pele hospitalised amid cancer battle; daughter says 'no emergency'

Nov 30, 2022

The 82-year-old had a tumor removed from his colon in September 2021 and has since been in and out of the hospital for treatment on a regular basis

World Bank says remittances up 5% in 2022, but growth to slow to 2% next year (Photo: Reuters)

World Bank says remittances up 5% in 2022, but growth to slow to 2% next year

Nov 30, 2022

Remittances are a vital source of household income for people in low- and middle-income countries, helping to alleviate poverty and building resilience, while boosting the birth weight of infants and school enrollment rates for older children.

In a similar exchange on October 24, Musk estimated a global recession could last 'until the spring ’24', though he noted he was 'just guessing'.

Elon Musk says Fed must cut interest rates 'immediately' to stop a 'severe recession'

Nov 30, 2022

In recent days, Fed officials have said they expect smaller increases ahead than the four consecutive 75 basis point increases seen this year

Former Chinese President Jiang Zemin dies aged 96 (Photo: Reuters)

Former Chinese President Jiang Zemin dies aged 96

Nov 30, 2022

Jiang died at 12:13 p.m. (0413 GMT) in his home city of Shanghai, the official Xinhua news agency said, publishing a letter to the Chinese people by the ruling Communist Party, parliament, Cabinet and the military announcing the death.

Why shares of this paper company took a beating amid China protests

Shares of this paper company took a beating amid the white paper protests in China; here’s what happened

Nov 30, 2022

China protests: Meanwhile, Chinese authorities said that it will take steps to minimise the impact of its COVID lockdowns.

Fedorov was speaking at Amazon Web Services (AWS)’s re:Invent event, which is being held in Las Vegas, USA. (Image: Reuters)

AWS re:Invent 2022: 'Ukraine is now the best testing ground for your product,' says tech minister Mykhailo Fedorov

Nov 30, 2022

Describing the war as something out of science fiction, Mykhailo Fedorov said that technology has helped Ukraine fight, survive, and plan for a time after the conflict.

Qatar reveals worker deaths for World Cup 'between 400 and 500'  (Photo: Reuters)

Qatar reveals worker deaths for World Cup 'between 400 and 500'

Nov 29, 2022

Since FIFA awarded the tournament to Qatar in 2010, the country has taken some steps to overhaul the country's employment practices. That includes eliminating its so-called kafala employment system, which tied workers to their employers, who had say over whether they could leave their jobs or even the country.

UK says will allow banks to take more risk to stay competitive (Photo: Reuters)

UK says will allow banks to take more risk to stay competitive

Nov 29, 2022

City minister Andrew Griffith said a new financial services bill now being approved in parliament will bring financial rule books up to date, make regulators nimbler, cut insurance capital buffers, though maintain high standards.