World economy

US drops Cuba from list of state sponsors of terrorism

US drops Cuba from list of state sponsors of terrorism

30 May 2015

Cuba was formally dropped by the US from a list of state sponsors of terrorism yesterday, in a major step toward restoration of full diplomatic ties

IRS official paid $2.1 bn for nearly 800,000 phony returns in 2012

29 May 2015

California bottlers face protests as state battles drought

27 May 2015

California turns to Australia for strategies to counter record drought

California turns to Australia for strategies to counter record drought

27 May 2015

Facing the longest and sharpest drought on record, Californian authorities are increasingly looking for solutions from Australia, the world's driest inhabited continent

Africa’s GDP to grow at 4.5% in 2015: AfDB report

26 May 2015

Switzerland starts naming black money holders, two Indians in the list

Switzerland starts naming black money holders, two Indians in the list

26 May 2015

The Swiss Federal Tax Administration is reported to have published the names of several foreign nationals with Swiss bank accounts, including two Indian women

Israeli ex PM Olmert sentenced to eight month for graft

Israeli ex PM Olmert sentenced to eight month for graft

25 May 2015

The new sentence comes on top of six years in prison Olmert is already facing for taking bribes related to a controversial Jerusalem housing project while he was mayor

China offers $318 bn of projects to private investors to drive growth

China offers $318 bn of projects to private investors to drive growth

25 May 2015

China is looking at the PPP model because of a widening funding gap amidst changes in borrowing procedures that could worsen its economic slowdown after years of double-digit growth

Global protest over Monsanto’s GM crops, pesticides

Global protest over Monsanto’s GM crops, pesticides

25 May 2015

US biotech giant Monsanto is at the receiving end for its prime products, the co-called Roundup crops and neonicotinoid pesticides that have now turned up to be carcinogenic

Greece set for June default if talks fail

Greece set for June default if talks fail

25 May 2015

For Greece, which is deprived of the bond market now, a deal with the international creditors in the next few days is crucial to avoid a bankruptcy

Islamic state militants claim responsibility for bombing at mosque in Saudi Arabia

23 May 2015

ISIS wants to use Pak N-bomb on US

ISIS wants to use Pak N-bomb on US

23 May 2015

With billions of dollars in extorted money in its coffers and support from divergent Islamic militant groups, ISIS hopes to secure its first nuclear weapon from Pakistan within the next 12 months

Obama signs bill to give Congress powers over Iran nuclear deal

Obama signs bill to give Congress powers over Iran nuclear deal

23 May 2015

Under the bill Obama, would be barred from waiving congressional sanctions for at least 30 days, as lawmakers examined any final deal

US - China dispute over South China Sea escalates

US - China dispute over South China Sea escalates

23 May 2015

The continued US surveillance flights in the areas are aimed at challenging the Chinese government’s claims of expanded territorial sovereignty

Imphal, Srinagar among 64 `extreme terror-risk’ cities in the world

22 May 2015

Pakistan denies nuclear deal with S Arabia

Pakistan denies nuclear deal with S Arabia

22 May 2015

Pakistan’s Foreign Office yesterday vehemently denied a report claiming that Saudi Arabia had decided to buy nuclear weapons from Pakistan

Japan to fire up ADB to counter China-led AIIB

Japan to fire up ADB to counter China-led AIIB

22 May 2015

According to analysts, the rival efforts by the two countries will be a boon for Asian nations, which face huge infrastructure shortfalls

Chinese factory activity slows for third month in May

21 May 2015

Airbus UK chief warns of withdrawing if UK exits EU

Airbus UK chief warns of withdrawing if UK exits EU

21 May 2015

Paul Kahn, the president of Airbus Group UK has warned that the company could reconsider its investment in the country in the event of the UK leaving the EU

India to drive South Asian economic growth in FY16: UN

India to drive South Asian economic growth in FY16: UN

20 May 2015

India's economic growth is projected to surpass that of China's, with a 7.7 per cent expansion of GDP in 2016, while China’s economic growth is projected to decline to 6.8 per cent in 2016 from 7 per cent in 2015

S African regulator probes global banks for forex rate fixing

S African regulator probes global banks for forex rate fixing

20 May 2015

The banking giants under probe include BNP Paribas SA, Citigroup Inc, Barclays Bank Plc, JP Morgan Chase & Co, Investec Ltd, Standard New York securities Inc, and Standard Chartered Plc

Iraq, Iran join forces to retake Ramadi from ISIS militants

Iraq, Iran join forces to retake Ramadi from ISIS militants

18 May 2015

Iran's defence minister GenHossein Dehghan also flew to Baghdad on a surprise visit for urgent talks with Iraqi leaders

A “graduation” from poverty

A “graduation” from poverty

18 May 2015

Known as the “Graduation” program, the study was aimed at testing whether helping the poor in multiple ways simultaneously could be especially effective in fighting poverty

Nomura, RBS ordered to pay $806 mn to housing finance agency

18 May 2015

Nepal sees $10-bn loss in quake; UN calls for continued aid

Nepal sees $10-bn loss in quake; UN calls for continued aid

16 May 2015

The devastating 25 April earthquake and the subsequent aftershocks have caused losses of  around $10 billion to the Himalayan nation

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