Business

New Delhi, Nov 8 (PTI) In a scathing assessment of the demonetisation exercise, former prime minister Manmohan Singh on Thursday said the "scars and wounds" it caused are getting more visible with time and the decision's second anniversary is a day to remember how "economic misadventures" can roil the nation.

The senior Congress leader asked the government to not resort to further unorthodox, short-term economic measures that can cause any more uncertainty in the economy.

7 Nov 2018; AFP: Brazil's president-elect Jair Bolsonaro suggested Tuesday he was prepared to make a swift U-turn over controversial plans to move the country's Israel embassy from Tel Aviv to Jerusalem.

Last week, Bolsonaro reiterated a campaign pledge to follow the lead of US President Donald Trump by switching the embassy from Israel's economic and technological hub to its capital.

But on Tuesday, he reeled in his plans claiming "it hasn't yet been decided."

7 Nov 2018; AFP: A senior Indian opposition leader on Tuesday accused the CEO of a French aviation company involved in a controversial fighter jet deal of "trying to hide the truth".

Kapil Sibal, a lawyer and former cabinet minister, said Dassault Aviation CEO Eric Trappier had deliberately tried in recent interviews to "muddy the waters" over the 2016 sale of 36 Rafale planes to India.

7 Nov 2018; AFP: There is a notable no-show among the dozens of national pavilions at Shanghai's massive import fair -- the United States -- a metaphor for isolationist Trump policies that attendees say are pushing them closer to China.

The China International Import Expo opened Monday with thousands of foreign companies wooing Chinese buyers with products including Italian helicopters, Canadian fur, Dominican cigars, and Japanese fresh fish.

CANBERRA, Australia (AP) — The Australian government on Wednesday warned it intends to block a Hong Kong and Chinese consortium’s 13 billion Australian dollar ($9 billion) takeover bid for an energy infrastructure company because it conflicts with Australia’s national interest.

The CK Consortium needed approval of Australia’s Foreign Investment Review Board to take over APA Group, which owns more than 43,700 kilometers (27,100 miles) of gas pipeline in Australia.

New Delhi, Nov 6 (PTI) Keeping up the heat on the RBI, the government will continue to press the central bank to relax norms to boost lending and transfer at least a third of its Rs 9.6 lakh crore reserve, sources familiar with the discussions said.

In recent weeks, the rift between the RBI and the government has been widening over various issues.

Recently, the government cited never-used before provisions of law that gives it powers to issue directions to the RBI on mattes of public interest to resolve certain issues.

New Delhi, Nov 7 (PTI) Indian Bank said Wednesday that it has raised Rs 110 crore through bonds.

The Basel III Compliant Tier 2 bonds, with a coupon rate of 8.85 per cent per annum, were raised on Tuesday. The bonds have tenor at 10 years and call option after completion of 5 years on private placement basis, an Indian Bank statement said.

According to the statement, the credit rating assigned to these bonds is "CRISIL AAA/Stable" and "CARE AAA".

Washington, Nov 7 (PTI) The opposition Democratic Party is projected to regain control of the House of Representatives while the ruling Republican Party is all set to retain its majority in the Senate in the critical midterm elections held on Tuesday, according to projections made by major US media outlets

Congresswoman Nancy Pelosi, 78, is expected to be re-elected as Speaker of 435-member House of Representatives, which is equivalent to Lok Sabha in Indian parliament.

Rahul Gandhi has alleged that PM Modi needs Rs 3.6 lakh crore from RBI surplus to fix the ‘mess his genius economic theories have created’.

Gandhi’s comment came after Finance Ministry sent a proposal to RBI seeking the transfer of a surplus of Rs 3.6 lakh crore, more than a third of the total Rs 9.59 lakh crore reserves of the central bank, to the government.

ISTANBUL; 6 Nov 2018; AA: Turkey has become a country that gives the greatest contribution to European air traffic, the country's Directorate General of Civil Aviation (SHGM) announced on Tuesday.

Eamonn Brennan, director general of the European Organisation for the Safety of Air Navigation (Eurocontrol), sent a letter to SHGM regarding Turkey's contribution to Europe's aviation incomes and decrease in flight delays in the country, the SHGM said.