Economy

Google Lens Now Built Into Pixel 3 Camera

Google Lens Now Built Into Pixel 3 Camera A new feature , called "Top Shot" shoots a bunch of pictures in burst mode and then uses an algorithm to select the best one. Google introduced its new Pixel 3 smartphones yesterday alongside a host of other hardware and software products . [Full Article...]

India expected to keep buying Iranian oil despite sanctions by US

India expected to keep buying Iranian oil despite sanctions by US Oil prices rose about one percent on Tuesday on growing evidence of falling Iranian crude exports before the imposition of new USA sanctions , as well as a partial production shutdown in the Gulf of Mexico because of Hurricane Michael. It hit a four-year high of $86.74 last week. Both Iran and Russian Federation have condemned the Trump administration for withdrawing from the deal, a move tha... [Full Article...]

International Monetary Fund forecasts India's 2018 growth at 7.3 pc, praises GST, bankruptcy code

International Monetary Fund forecasts India's 2018 growth at 7.3 pc, praises GST, bankruptcy code The IMF called for reforms in labour and land markets in the country, as well as improving the business climate. Furthermore, On Monday, the stock market showed the downward trend as the KSE-100 Index lost over 1,300 points during trading. [Full Article...]

China shares tumble as investors dump stocks across the board

China shares tumble as investors dump stocks across the board Spot yuan was on track for its lowest close in seven weeks against the United States dollar, as expectations of more easing measures by China , plus surging U.S. Yields of China's 10-year central government bonds have been trending lower this year, standing at 3.64 per cent at lunch break on Monday. "The narrowing interest rate differentials between China and the United States will exert mo... [Full Article...]

IMF says not yet approached by Pakistan for financial assistance

IMF says not yet approached by Pakistan for financial assistance It left 2018 growth forecasts for the two countries unchanged at 2.9% for the United States and 6.6% for China. "We have not been formally approached yet", said Maurice Obstfeld , the IMF's top economist, during the fund's annual meeting in Bali. [Full Article...]

India buying Iran oil in defiance of Trump sanctions

India had planned to import about 25 MT of crude oil from Iran in 2018-19, up from 22.6 MT imported in 2017-18. State refiners Indian Oil Corporation Ltd (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have contracted 1.25 million tonnes of Iranian oil for import in November. [Full Article...]

Roles of ideas and climate in growth earn duo economics Nobel prize

Roles of ideas and climate in growth earn duo economics Nobel prize There are other limitations to DICE , which Nordhaus admits himself. Hours before the award , the United Nations panel on climate changed warned of the risks of more frequent heatwaves, floods and drought in some regions as well as the loss of species without a radical rethink in how societies operate. [Full Article...]

Saudi Arabia unable to replace lost Iranian oil - Iran’s oil minister

Saudi Arabia unable to replace lost Iranian oil - Iran’s oil minister According to Reuters , state-owned Indian Oil plans to purchase 6 million barrels of Iranian oil next month, while Mangalore Refinery and Petrochemicals will buy 3 million barrels. UCO Bank had in the previous round of sanctions handled rupee payments. "What the Saudis had been supplying the market with, were not from Riyadh's spare capacity but from tapping its oil stocks", Zanganeh said, acco... [Full Article...]

Pakistan to start talks with International Monetary Fund as rupee continues to fall

Pakistan to start talks with International Monetary Fund as rupee continues to fall Obstfeld, who retires from the Fund later this year, said there were bright spots with some Latin American and African nations getting growth forecast upgrades. However, the International Monetary Fund cautions that it has a "poor track record of predicting recessions". The fund urged governments to focus on policies that can share the benefits of growth more widely, helping counter the growing ... [Full Article...]

Brent crude drops below $83 on expectations Iran will maintain some exports

Brent crude drops below $83 on expectations Iran will maintain some exports The grouping's June decision to increase production by around 1 million barrels per day (bpd), or around 1% of global supply, followed calls from the United States, China and India to help moderate prices. "Oil should not only be priced from a producers' point of view consumers interest should also be taken care of", he said. Prince Mohammad told Bloomberg on Friday the kingdom had met its promi... [Full Article...]

Apple, Amazon, SuperMicro deny reports of Chinese microchip infiltration

Apple, Amazon, SuperMicro deny reports of Chinese microchip infiltration The Bloomberg report claimed that the chips, which were the size of a pencil tip and allegedly ended up in server boards used by nearly 30 companies as well as government agencies, compromised entire data centres operated by Amazon and Apple . [Full Article...]

Oil Declines on Hopes for U.S. Waivers on Iran, Saudi Assurance

Oil Declines on Hopes for U.S. Waivers on Iran, Saudi Assurance India will buy nine million barrels of Iranian oil in November, in a signal the world's third-biggest oil importer will continue purchasing crude from the Islamic republic despite USA sanctions coming into force on November 4. Iran's Oil Minister this week brushed off "nonsense" claims by Saudi Crown Prince Mohammed bin Salman that Saudi Arabia can replace Iranian oil. Addressing foreign governm... [Full Article...]

US SEC Sets October 26 As Deadline for 9 Bitcoin ETF’s Review

US SEC Sets October 26 As Deadline for 9 Bitcoin ETF’s Review As of August 21, 2018, the Commission had received 15 comments on the proposed rule change. The decision to reject the ETFs drew the ire of one of the commissioners, Hester Peirce , who criticized the Commission, saying that it had exceeded its mandate. [Full Article...]

Petrol, diesel prices on the rise again

Petrol, diesel prices on the rise again Petrol price was hiked by 18 paise a litre on October 6 and 14 paise on Sunday, according to daily price notification issued by state-owned oil firms. Fadnavis added that the government's decision to cut the Value Added Tax ( VAT ) on petrol by Rs. 2.50 per litre has been hugely welcomed by the people and the government will bear the losses in the larger public interest. [Full Article...]

Second Lawsuit Filed against JBS Tolleson in Raw Beef Salmonella Outbreak

Second Lawsuit Filed against JBS Tolleson in Raw Beef Salmonella Outbreak Millions of pounds of ground beef are being recalled after being sold at stores including Walmart . The agency posted a 33-page list of the recalled items, which were shipped to retail locations and institutions across the country. Symptoms of salmonella usually begin 12 to 72 hours of consuming contaminated food. Illnesses might not yet be reported due to the time it takes between when a p... [Full Article...]

Sayonara Tsukiji! Relocation of Tokyo's famed fish market begins

Sayonara Tsukiji! Relocation of Tokyo's famed fish market begins But the move also has its detractors, with concerns about everything from Toyosu's location, far from clients, to pollution at the new site. The most expensive fish - a 162-kg (357.15 lb) tuna - sold for 4.3 million yen ($37,818) at the early morning auction, Kyodo News said. [Full Article...]

Unilever axes move from London to Rotterdam

Unilever axes move from London to Rotterdam Unilever said in a stock exchange announcement at 7am today that the board had made a decision to withdraw its proposal. The seven institutions own around 10% of Unilever's shares and had previously complained that the move would be detrimental to United Kingdom shareholders, with Aviva saying it saw "no justification" for the move. [Full Article...]

New Orleans Popeyes to serve 24-karat gold chicken wings

New Orleans Popeyes to serve 24-karat gold chicken wings The chain, which was founded in New Orleans in 1972, now has restaurants across the United States as well as in a variety of other countries. Popeyes Louisana Kitchen president Alex Santoro said the fast food chain wanted supporters to help them celebrate a special milestone. [Full Article...]

US goes soft on Iran sanctions, mulls waivers for violators

US goes soft on Iran sanctions, mulls waivers for violators Saudi Arabia's ARAMCO has said it will make up for market demands for crude in Iran's place. The U.S. Labor Department's employment report showed that average hourly earnings increased 0.3 percent in September, while the unemployment rate fell to near a 49-year low of 3.7 percent. [Full Article...]

Canada's unemployment rate dips in September

Canada's unemployment rate dips in September August saw a net decline of more than 51,000 positions, pushing the unemployment rate to six per cent. Year-over-year, employment is up by 220,000 jobs or 1.2 per cent. Thomas jobless rate fell to 5.2 per cent in September, even with the month before. The agency said the number of self-employed Canadians declined by 35,000 after recording an nearly equal total increase over the past twelve month... [Full Article...]


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