World economy
Billionaire Prince Alwaleed among those held in sweeping Saudi purge
06 Nov 2017
The arrest of dozens of the country's most powerful princes, military officers, influential businessmen and government ministers is being viewed as part of Crown Prince Mohammed bin Salman’s efforts to cement power
Paradise Papers: tax avoidance by the world’s rich and famous
06 Nov 2017
A huge new leak of financial documents reveals how the powerful and ultra-wealthy, including the private estate of Queen Elizabeth II and several top aides of US President Donald Trump as well as a host of Indian entities, secretly invest in tax havens
Trump names Jerome Powell to replace Yellen as Fed chair
03 Nov 2017
Nominated to the Federal Reserve under the Obama administration, Powell is expected to continue his predecessor Janet Yellen’s policies, though he may be more liberal in regulating financial institutions
Fed keeps interest rates unchanged, review likely in December
02 Nov 2017
The Federal Open Markets Committee kept the interest rate on federal funds unchanged at 1-1.25 per cent, even as it played down the impact of recent hurricanes, signalling a likely rate hike in December
Facebook, Twitter, Google unveil extent of Russian meddling
02 Nov 2017
In their testimony before a Congress committee, the social media companies revealed startling new data showing many more millions of Americans were exposed to the fake news than previously thought
JFK assassination documents bared, but Trump holds back hundreds
27 Oct 2017
The release date of the documents was mandated in 1992, but despite having months to prepare for it, Trump’s decision came down to a last-minute debate with intelligence agencies on what to withhold
Saudi Arabia to spend $500 bn on futuristic city with fully green power
26 Oct 2017
Saudi Arabia is getting into the city-building business with a new mega-city that will span three different countries and be powered completely by alternative or green energy
Xi Jinping gets fresh 5-year term, name added to Chinese constitution
24 Oct 2017
President Xi Jinping has emerged stronger than ever as an amendment to the constitution made his ideology a new component of the Communist Party of China’s guide for action, while Premier Li Keqiang also won a fresh term
Abe’s big election win bolsters Japanese markets
23 Oct 2017
Prime Minister Shinzo Abe who assumed office in December 2012, now looks set to secure a third three-year term as LDP leader next September and go on to become Japan’s longest-serving premier
Don’t push for veto power in UN, Nikki Haley tells India
18 Oct 2017
'The key to getting India on the UN Security Council would have to be not to touch the veto,’ says US Ambassador to the United Nations Nikki Haley, adding that the five nations with veto power are unwilling to share it
Russia to issue its own ‘CryptoRuble’: report
17 Oct 2017
The CryptoRouble, however, could not in any way be seen as an affirmation or legalisation of Bitcoin or any other decentralised cryptocurrency, which will remain banned in Russia
Warming seas could lead to 70% increase in hurricane-related financial loss
16 Oct 2017
If oceans warm at a rate predicted by a UN-sponsored group that assesses climate change research, expected financial losses caused by hurricanes could increase to $12 billion by 2100
Trump inks executive order to bypass Congress, undercut Obamacare
13 Oct 2017
Trump’s order cuts off subsidies to health insurance companies for low-income patients and instead lets small businesses band together to buy cheaper, less regulated health plans for their employees, which, however, may not be available until 2019