International News - Page 3

Oil slumps below $45/barrel as OPEC says it won't ease production

Last November OPEC decided to keep production levels steady. That decision came despite calls from some from within the 12-member bloc to curb output in an effort to boost prices.

US apex court denies Rajat Gupta's appeal against lifetime ban

The US Supreme Court has denied an appeal by India-born former Goldman Sachs Director Rajat Gupta, who had challenged a ruling by a lower court permanently banning him from from serving as an officer or director of a public company.

Jaguar Land Rover announces new SUV, creation of 1,300 jobs in UK plant

The additional workforce, intended for its Solihull plant in the West Midlands region of England, coincides with Jaguar's entry into the sports utility vehicle (SUV) sector

Australia's Qantas named world's safest airline: report

Australian flag carrier Qantas has been named the world's safest airline in a report published by AirlineRatings.com.

Oil prices slump again but hover above $50/bl level

The selloff in oil began six months ago on concerns of oversupply in high quality U.S. shale crude.

Etihad passengers complain of 12-hour wait on tarmac without food or water

Hundreds of Etihad travelers landed in San Francisco, irritated after a 28-hour overseas flight they say included 12 hours on a tarmac in the Middle East without food or accurate flight information.

General Motors recalls 92,000 more vehicles over ignition switch problems

General Motors has announced a recall of more than 92,000 additional vehicles over ignition switch problems that have been blamed for 42 deaths.

Valued at $45 bn, Xiaomi raises $1.1 bn in fresh funding

China's Xiaomi Inc, one of the world's fastest-growing smartphone makers, has raised $1.1 billion in a round of funding.

Air Asia flight QZ8501: CEO Tony Fernandes says he's living his biggest nightmare

Tony Fernandes, the man who is responsible for reviving Malaysian carrier AirAsia, faced his first major crisis after an AirAsia plane went missing on Saturday with 162 people on board.

Uber violating licence norms, says Taiwan transport ministry

Taiwan's transport ministry said Uber Technologies Inc is operating a taxi-hailing service "in violation of the law", and that it is investigating the possibility of blocking access to the US company's website and mobile app.<br />

Alstom sharholders approve sale of energy business to GE

Shareholders of French firm Alstom have approved the sale of the company's energy businesses to General Electric.

IMF: Low oil prices can raise 2015 global growth by 0.3-0.7%

Oil prices will remain low in the future which will help boost the global economy next year between 0.3 and 0.7 percent more than the 3.8 percent planned, two economists from the International Monetary Fund (IMF) have said in a report.

Sony threatens to sue Twitter over tweets with hacked emails

Sony Pictures has suffered an estimated loss of $200 million on account of the recent cyber attack over the film "The Interview", according to various analysts.

Saudi producers expect oil prices to touch $70-80/bbl only by 2015 end

Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to stabilise in the medium term.

Sony suffers $200 million loss on movie 'The Interview' due to cyber attack

Sony Pictures has suffered an estimated loss of $200 million on account of the recent cyber attack over the film "The Interview", according to various analysts.

Global oil firms to cut investment spending by over 25% in 2015

Plunging oil prices will prompt energy companies to cut investments in new projects by 25 percent or more in 2015, analysts said over the past week, as firms try to stay cash-flow positive and keep debt in check.

Foreign presents: PM got Rs 9 lakh Rolex; Sonia Gandhi got Rs 7 lakh gold necklace

The Ministry of External Affairs website lists all gifts received by Indian dignitaries from July 2013 to March 2014. Though most items are quite run-of-the-mill (plauqes, carpets, bowls, tea sets) some items do stand out. Especially those gifted to Congress president Sonia Gandhi.<br />

India, China sign billion dollar MoU to set up India International Trade Centre in Gujarat

The biggest is between Kunlun Chuangyuan Investment Co (Zhejiang) and Kiri Infrastructure (India) for the project 'India International Trade Center in Gujarat' worth USD 1,500 million."

Bigbasket to Localbanya: Online stores make hay as supermarkets struggle

Put off by snarled city traffic and a shortage of parking, more Indians are shopping for groceries online, helping e-tailers like Bigbasket.com and Localbanya.com turn in profits while supermarkets are struggling.<br />

Vehicles older than 15 years to be banned in Delhi, rules NGT

Dismayed at the increasing air pollution in the national capital, the National Green Tribunal or NGT on Wednesday held that all vehicles which were more than 15 years old would not be permitted to ply on the city roads.<br />

Yet again! Goa bags `favourite leisure destination in India' award

The fact that Goa offers so much for tourists makes it an easy choice when it comes to planning a holiday, Goa Tourism<br /> Director Ameya Abhyankar said.

GDP may have slowed to 5.1% in Q2, clamour for rate cut grows louder

India's economic growth probably slowed to 5.1 percent in the July-September quarter from a year ago, but economists polled by Reuters doubted whether that would be enough to persuade the central bank to cut interest rates just yet.

Dragon alert: China to have zero tolerance to environmental violations

Authorities across China have been ordered to take part in a comprehensive inspection program to be completed by the end of 2015, said the policy document that was released on the official government website late on Wednesday.