Business

The GDP contraction in the April-June period of FY21 was the largest slump on record since India started reporting quarterly data in 1996.

Gold prices edged higher on Wednesday as the dollar weakened, although upbeat U.S. manufacturing data lifted hopes about global economic recovery and curbed demand for the safehaven metal.

Oil prices rose on Tuesday, reversing overnight losses against the backdrop of an equities bull run and a sliding U.S. dollar.

South Korean refiners have bought nearly 2 million barrels of Omani crude from Chinese storage tanks in the past two months, seldom seen trades created by low prices and high inventories, according to trade sources and shipping data on Refinitiv Eikon.

Japan's top steelmaker Nippon Steel Corp is seeking overseas mergers and acquisitions (M&As) but not for further M&A deals at home, its president, Eiji Hashimoto, said on Tuesday.

Whoever succeeds Shinzo Abe as Japan's prime minister will be confronted with growing signs that the job market is deteriorating in an economy laid low by the coronavirus pandemic.

While the S&P boasted its steepest August percentage gain in more than three decades it ended Monday lower as investors took a pause although the Nasdaq rallied thanks to highflying stocks including Apple Inc .

Brazil allowed a nontariff quota for ethanol imports to expire on Monday, which will result in U.S. producers having to pay a 20% tariff unless the Brazilian government takes new action.

Japanese firms cut spending on plant and equipment by the most in a decade in the second quarter, the government said on Tuesday, as the coronavirus pandemic delivered a heavy blow to business activity.

Novavax Inc said on Monday it had reached an agreement in principle with the Canadian government to supply up to 76 million doses of its experimental coronavirus vaccine, sending the company's shares up nearly 7%.

German annual consumer prices fell for the first time in more than four years in August due to a VAT cut as part of the government's stimulus push to help Europe's largest economy recover from the coronavirus shock, data showed on Monday.

Indian economy contracted at its steepest pace of 23.9% yearonyear in the June quarter, official data showed on Monday, as the pandemicinduced lockdown dented consumer and business spending.

Reliance Retail has also proposed to invest Rs 1,200 crore in FEL preferential equity (6.09 per cent of post-merger equity of FEL) and Rs 1,600 crore in preferential warrants (option to acquire further 7.05 per cent).

Indonesia's central bank and Japan's finance ministry have named a number of banks as cross currency dealers to encourage the use of the rupiah and yen for bilateral trade and investment, Bank Indonesia said on Monday.

Gold prices climbed to their highest level in nearly two weeks on Monday, as the dollar weakened and the U.S. Federal Reserve's new policy framework suggested that interest rates would remain low for some time.

United Airlines says it listened to customers and is dropping an unpopular $200 fee for most people who change a ticket for travel within the United States.