Economy and Policy

  • Videographer films an electronic board showing the graphs of exchange rates between the Japanese yen, the U.S. dollar and Euro outside a brokerage in Tokyo

    Most Asian stocks drooped on Tuesday as Chinese equity markets went into a fresh tailspin, fraying investor nerves already strained by uncertainty hanging over the future of Greece and the European currency union. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6 percent, led by Hong Kong and South Korea, …

  • Oil prices stabilise after massive selloff Reuters - 2 hours 33 minutes ago

    Brent crude was up 63 cents at $57.17 a barrel, following a more than 6 percent drop in the previous session. "Crude oil prices hit a two-month low amid mounting concerns over economic stability in Europe and Asia. "Prices (for Brent) are effectively capped below $70 per barrel in the near term.

  • The shadow of the logo of Euro is seen on a U.S. one dollar note in this picture illustration taken in Madrid

    The euro edged slightly lower in early Asian trading on Tuesday, but remained well off lows touched in the previous session ahead of a euro zone summit that investors hope might offer a way for Greece to climb out of its debt crisis. The Australian dollar slipped about 0.3 percent on the day to $0.7476 but remained above …

  • German Chancellor Angela Merkel and French President Francois Hollande, the euro zone's most powerful leaders, said Athens must move quickly if it wants to secure a cash-for-reform deal with creditors and avoid crashing out of the single currency. Raising the pressure on Greek Prime Minister Alexis Tsipras before a euro …

  • Traders work on the floor of the New York Stock Exchange in New York

    Greek Prime Minister Alexis Tsipras promised German Chancellor Angela Merkel that Greece would bring a proposal for a cash-for-reforms deal to an emergency summit of euro zone leaders on Tuesday, a Greek official said.

  • An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia

    Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8 percent as Greece's rejection of debt bailout terms and China's stock market woes set off a deepening spiral of losses. Adding to the pressure on oil, Iran and global powers were trying to meet a July 7 deadline on a nuclear deal, …

  • German Chancellor Merkel arrives to the Chancellery in Berlin

    The German government signalled a tough line towards Greece on Monday, saying it saw no basis for new bailout negotiations and insisting it was up to Athens to move swiftly if it wanted to preserve its place in the euro zone. With opinion towards Greece hardening in Germany's ruling coalition after the landslide rejection …

  • “I think there will be an agreement,” said 21-year-old student Christina Sideri, queuing to withdraw the 60 euros Greeks have been rationed to per day for a week now. Greeks believe they called Europe’s bluff on Sunday with a resounding vote to reject the terms of an international aid deal despite the warnings of European …

  • Bengaluru, July 6 (IANS) Robust demand for office and commercial space from the booming IT sector has placed Bengaluru on the top among Asia-Pacific cities, indicates a real estate survey. "Bengaluru pipped other Asia-Pacific cities in demand for office space while growing need for commercial space from the IT sector is …

  • Greece's banks will stay closed at least until Friday, four banking sources said on Monday, as the country tries to reopen bailout negotiations with official creditors and save its financial system from collapse. Greece issued a decree last week imposing capital controls and ordered banks to close after the European Central …

  • New Delhi, July 6 (IANS) The government on Monday said immunity from prosecution would be given under specific laws to those declaring undisclosed foreign assets under the compliance window of the new Black Money (Undisclosed Foreign Income and Assets) Act. Releasing a list of frequently asked questions (FAQs), the finance …

  • The Greek referendum that was announced on June 26 by Prime Minister Alexis Tsipras has taken Europe by storm. It is now clear that a majority of Greeks do not seem to agree with the conditions and plans for more austerity of the 'troika' of International Monetary Fund, The European Central Bank, and The European Commission. …

  • Mumbai, July 6 (IANS) In a bid to reduce imports of capital goods, the department of heavy industries at the Centre will fund projects worth Rs.1,000 crore under the Capital Goods Scheme, union Minister for Heavy Industry Anant Geete said on Monday. Pointing out that technology gap between developed and developing countries …

  • Kolkata, July 6 (IANS) A host of e-technologies for testing quality of tea and rice in India are ready to empower the agricultural sector through the 'Digital India Programme', it was announced here on Monday. The Centre for Development of Advanced Computing (C-DAC) here has designed, developed and deployed latest technologies …

  • Man is seen in front of a board showing a graph of stock prices at a brokerage office in Beijing

    Chinese stocks rose on Monday, as an unprecedented series of support measures unleashed by Beijing brought some relief to a market whose headlong slide over the past three weeks had raised fears about the stability of the world's second-biggest economy. In an extraordinary weekend of policy moves, brokerages and fund managers …

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