Markets of iron ore and gas have been hit hard due to over supply and decreasing demand and Japanese trading house Mitsui & Co. also follow trait. The Japanese trading house is going to embrace loss for the first time since its establishment in current form in 1947.
Contrary to a notion that oil rout is impacting everyone in the industry, there are few bosses at energy companies making more money based on their performance. Few top managers are excelling in meeting targets and getting hefty paychecks.
The Federal Reserve Bank of New York has denied any responsibility over the $81 million cyber heist from the current account of Bangladesh Bank. But a BB audit report observes NY Fed responsible since it implemented five payments instructions out of thirty five leaving many questions behind. Following the internal report BB is getting prepared to file lawsuit against Fed.
Talbot Underwriting Ltd is spreading its footprint of financial lines business in Australia. Talbot Underwriting, a wholly-owned subsidiary of Validus Holdings Ltd, has appointed David McKenzie and David Jones as class underwriters at its financial lines team.
Price of iron ore rallies as China's property market showed further sign of recovery. Surge in the price of iron ore also correlated with increase in steel futures.
India's National Commodities and Derivatives Exchange (NCDEX) has imposed special margins in Kapas contracts. Kapas prices fell over seven percent during the past fortnight. NCDEX has taken the decision to check further fall in Kapas contracts.
OPIC, a US private development finance institution has extended support to India to build a low carbon economy and expand the internet infrastructure. It has sanctioned $421 million for India’s solar and development projects. The OPIC finance will exert its impact upon lives across the developing world while transforming focus from Southeast Asia to India.
Rating agency ICRA forecasts India's gross domestic product (GDP) growth rate at 7.7 percent for next financial year 2016-17. The rating agency cites reasons for GDP growth rate to the implementation of 7th Pay Commission, OROP recommendations and domestic consumption.
The Chinese central bank governor has warned over rising debt levels. To tackle the abnormal situation, the central bank feels necessity for promulgation of regulation guarding excessive leverage in foreign currencies. Meanwhile, the Chinese government vows to respond according to the call of time.
Profit booking pulled yellow metal on Monday below psychological mark-$1,250 an ounce. Gold price fell for four weeks in the past five weeks.
Nowruz is the day of vernal equinox that marks the beginning of spring in the Northern Hemisphere. A ancient Persian celebration which dated back in the Zoroastrian tradition was celebrated on Sunday.
Chinese consumers are spending more on spa visits, travel and entertainment as income levels are on upward movement. The consumer spending is expected rise 10 percent annually for the next decade.
Use of cannabis is very common in the island state of New Zealand. Around 42% of all aged Kiwis have reportedly tried the most popular but illegal substance. However, the island nation is going through acute shortage of weed due to drought, flood and intervention from the law enforcers.
Vijay Mallya's Kingfisher's House is in auction with a base price fixed at Rs 150 crore. A consortium of SBI led the auction where interest buyers will bid online. Lenders are optimistic that the said e-auction will generate huge amount to suffice the amount to pay for the loans granted to Kingfisher Airlines and other debts.
The strengthening of Yen is eroding the value of Japan's exports to the US. Its overall exports volume was flat, while the value declined over four percent owing to rising Yen.
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