India is fourth biggest exporter of illicit capital; China leads, says report

Wads of euro banknotes are stacked in a pile at the GSA Austria (Money Service Austria) company’s headquarters in Vienna July 22, 2013.REUTERS/Leonhard Foeger With an average annual outflow of $51.03 billion, India is the fourth biggest exporter of illicit capital over a decade with such financial flows surging to $1.1 trillion in 2013, according to a new report. China, ... Read More »

Australian computer forensics police raid home of suspected Bitcoin creator

The Bitcoin tradeReuters Australian police raided the Sydney home and office on Wednesday of a man named by Wired magazine as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency, Reuters witnesses said. More than a dozen federal police officers entered a house registered on the electoral roll to Craig Steven Wright, ... Read More »

Asia stocks buffeted by China worries, North Korea nuclear test

A woman stands near an electronic board showing the Japan’s Nikkei average (top) and the Japanese yen’s exchange rate against the U.S. dollar after the New Year opening ceremony, held to wish for the success of Japan’s stock market, at the Tokyo Stock Exchange (TSE) January… REUTERS/YUYA SHINO Asian shares fell on Wednesday and most emerging currencies retreated as China ... Read More »

US Fed hikes interest rates after almost a decade by quarter of a percentage point

Yellen indicates Fed rate hike by year-end The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday, signaling faith that the U.S. economy had largely overcome the wounds of the 2007-2009 financial crisis. The U.S. central bank’s policy-setting committee raised the range of its benchmark interest rate by a quarter of a percentage point ... Read More »

Top Apple supplier plans rare holiday as output fears rattle investors

Foxconn, which assembles most of Apple Inc’s latest iPhones, will cut working hours over the week-long Lunar New Year holiday, a person familiar with the matter said, in a rare move that analysts interpreted as a sign of softening demand. Reports of slowing shipments and mounting inventories of the iPhone 6S and 6S Plus, as well as tepid forecasts from ... Read More »

India services PMI hits 10-month high in December

An employee sets a table inside a restaurant at the Crown Plaza hotel, run by the InterContinental Hotels Group (IHG), in New Delhi January 31, 2014. REUTERS/ANINDITO MUKHERJEE/FILES Growth in India’s services firms rose at its fastest pace in 10 months in December as demand picked up, a business survey showed on Wednesday. The Nikkei/Markit Services Purchasing Managers’ Index surged ... Read More »

Banks to consider soft loan for housing, vehicles, crop damage, says Jaitley after meeting Jayalalithaa

The cash-rich firms can use their surplus holdings to buy stakes put up for sale by the government, enabling the finance ministry to achieve its targets. Picture: Finance Minister Arun JaitleyIANS Union Finance Minister Arun Jaitley on Sunday announced financial aid for the flood victims, several of whom lost their houses, after meeting Tamil Nadu Chief Minister J Jayalalithaa. According ... Read More »

China Huawei’s 2015 smartphone shipments jump 44 pct, cross 100 mln

Journalists follow the presentation of Huawei’s new smartphone, the Mate S, ahead of the IFA Electronics show in Berlin, Germany, September 2, 2015. REUTERS/HANNIBAL HANSCHKE/FILES Huawei Technologies Co became the first Chinese handset vendor to ship more than 100 million smartphones in a year when its 2015 shipments defied a market slowdown and jumped 44 percent, thanks to strong sales ... Read More »

GST benefits will be brought another way to industry: Goyal

A labourer pushes a handcart loaded with sacks containing tea packets, towards a supply truck in Kolkata.[Representation Image]REUTERS/Rupak De Chowdhuri On the passage of the Goods and Services Tax (GST) bill currently stalled in the Rajya Sabha, the government said on Sunday it will “find another way” to bring benefits of the law to industry. “Even if GST is not ... Read More »

Sensex extends losses for third session, closes at three-week low

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, August 24, 2015. REUTERS/DANISH SIDDIQUI/FILES The BSE Sensex closed at its lowest level in three weeks as worries over a weak Chinese yuan and escalating geo-political tensions in Asia after North Korea said it tested a hydrogen bomb weighed on markets. The broader ... Read More »