Finance

Turkey’s central bank raises benchmark rate to 24%, lira rallies

Turkey’s central bank raises benchmark rate to 24%, lira rallies The dual developments on Thursday pushed the lira as high as 6.08 against the dollar and it traded flat on Friday morning, standing at 6.03 to the dollar at 07:28 GMT. "The central bank will continue to use all available instruments in pursuit of the price stability objective", the central bank's monetary policy committee said in a statement. [Full Article...]

Kshama Sawant responds to Jeff Bezos' $2 billion charitable fund

Kshama Sawant responds to Jeff Bezos' $2 billion charitable fund It is a contrast to the long view that Bezos has preached at Amazon and Blue Origin, the space-travel technology company he has been funding with $1 billion a year through the sale of Amazon stock. The private non-profit foundation in its 2016 tax filing reported almost $46 million U.S. in assets, and giving away $30 million USA in grants support its missions in early education, K-12 schools r... [Full Article...]

Mark Carney will lead Bank of England through Brexit

Mark Carney will lead Bank of England through Brexit Labour MP Virendra Sharma, a champion of the anti-Brexit campaign group Better for Britain, said Carney's willingness to stay through the turbulence "shows the problems that the government are having on Brexit". Carney had been due to stand down in June 2019, after a six-year tenure at the top of the central bank. Nigel Farage wasn't happy with the announcement that the Governor of the Bank of ... [Full Article...]

China says world trade system not flawless, needs reform

China says world trade system not flawless, needs reform As of June 30, almost 450 entities employed lobbyists on trade issues - up from about 160 at the start of the year and about 100 when Trump took office, according to lobbying-disclosure reports compiled by the nonprofit Center for Responsive Politics. [Full Article...]

Canada ready to allow US dairy access in NAFTA talks

Canada ready to allow US dairy access in NAFTA talks U.S. Trade Representative Robert Lighthizer , left, threw cold water on any talk of a quick resolution to outstanding NAFTA issues in April after Prime Minister Justin Trudeau said a "good deal" is on the table. "Canada wants to make a deal". Trump almost tore up the NAFTA pact past year after visiting farmers in Wisconsin, a major USA dairy producer that Washington says has been hurt by Cana... [Full Article...]

Turkey's central bank raises interest rate to 24%

Turkey's central bank raises interest rate to 24% The bank vowed the tight stance in monetary policy would be "maintained decisively until inflation outlook displays a significant improvement" in the statement. The rate hike could squeeze growth further, but independent experts say it is needed to contain inflation of about 18% and support the currency. The central bank's move makes Turkey's interest rate one of the highest in the world. [Full Article...]

States may get ₹22,700 cr. from oil price rise: SBI report

States may get ₹22,700 cr. from oil price rise: SBI report In Hyderabad , petrol costs Rs 85.75 and diesel Rs 79.37. Domestic fuel prices continued their northward push on Tuesday with a depreciating rupee and expensive crude oil further pushing petrol and diesel to new record highs. In Parbhani in the region, today's retails price is Rs 90.12. "Alternatively, a $1/barrel increase in oil prices translates, on average, to a Rs 1,513-crore revenue ga... [Full Article...]

Apple's newest iPhone could have big screen, big price

The three models are expected to be the iPhone X , iPhone XS Max and iPhone XR . In the code of the Apple sitemap, the names for the new iPhone models were found. A recent post from Chinese microblogging site Weibo, via The Inquirer , further claims this to be the case with new images surfacing around the iPhone-X-lookalike. [Full Article...]

Trump's tweet doesn't convince Ford to build small crossover SUV in US

Trump's tweet doesn't convince Ford to build small crossover SUV in US On August 31, Ford announced it was canceling plans to ship the Focus Active to the USA from China - citing new tariffs on Chinese imports. For President Trump , this is the second tweet aimed at American companies in two days. [Full Article...]

Apple's newest iPhone could have big screen and big price

Apple's newest iPhone could have big screen and big price A small German e-commerce site specializing in electronics, Arktis ( www.arktis.de ), has already put up pictures of the new models on its website . According to industry experts, it is likely to have aluminium edges instead of stainless steel. Last year, Apple put the iPhone X on sale in early November, nearly two months after it was unveiled. [Full Article...]

U.S. capital under state of emergency, evacuation ordered

U.S. capital under state of emergency, evacuation ordered Nuclear Regulatory Commission spokesman Roger Hannah. Get out of the storm's way. Once the storm makes landfall, the threats are far from over. The American Red Cross said more than 700 workers were headed to the target area while shelters were set up to take in those who could not evacuate. [Full Article...]

White House Corrects Trump’s Tweet on GDP, Unemployment

White House Corrects Trump’s Tweet on GDP, Unemployment In the 70 years since the Labour Department started publishing monthly jobless numbers, the growth rate has been higher than the unemployment level more than 20% of the time when compared with GDP, which is reported quarterly. "There's no answer to it", Obama said. I guess I have a magic wand, 4.2%, and we will do MUCH better than this! "Some of those jobs from the past are just not gonna co... [Full Article...]

Flooding, high winds from Florence could impact Washington region’s roads, transit systems

Flooding, high winds from Florence could impact Washington region’s roads, transit systems The storm threatened to hit coastal North and SC with 130 mile-per-hour (215 kph) winds and massive waves when it makes landfall on Friday, and its rains will take a heavy toll for miles inland, the National Hurricane Center in Miami warned. [Full Article...]

Why Apple Products Are at Risk to Skyrocket in Price

Why Apple Products Are at Risk to Skyrocket in Price But despite Trump's claims, Ford insisted that this was not the case and that the Focus hatchback will not be built in the United States. For now, that means Ford simply won't sell the vehicle in the United States. More broadly, tariffs will lead to higher US consumer prices, lower overall USA economic growth, and other unintended economic consequences. "You know, their statement was very ... [Full Article...]

Ford corrects Trump over US-made Focus Active claim

Ford corrects Trump over US-made Focus Active claim The forecast comes after a Saturday tweet from Trump urging Apple to avoid tariff costs by increasing domestic production. "[Ford can make Focuses] in many other plants around the world, so if they made a decision to continue to sell a Focus variant in the U.S. [Full Article...]

BJP Only Bothered About Industrialists, Instead Of Fuel Prices: Congress

BJP Only Bothered About Industrialists, Instead Of Fuel Prices: Congress Since mid-August, petrol price has risen by over Rs 3.5 a litre and diesel by about Rs 4 per litre as rupee hit record low against the U.S. dollar, making imports costlier. Two, it insulates fuel prices from competitive politics. On Tuesday, former Finance Minister P Chidambaram had tweeted: "Relentless rise in prices of petrol and diesel is not inevitable". [Full Article...]

Despite Trump tweet, Ford says it won’t make hatchback in U.S.

But in a statement Sunday, Ford said "it would not be profitable to build the Focus Active in the U.S." given forecast yearly sales below 50,000. An index of global stock markets rose on Monday for the first time in eight trading sessions on optimism about policy from Italy to the United States, dodging anxiety about the U.S. [Full Article...]

Despite Trump tweet, Ford says it won’t make hatchback in US

Apple, like other tech giants, has benefited from the last year's overhaul to the US tax code, and the company has committed to returning much of the $252 billion in cash it held overseas. Beijing and Washington have imposed 25 percent import duties on $50 billion of each other's goods in a battle over technology policy. Apple chief executive officer Tim Cook earlier this year told Trump tariffs ... [Full Article...]

Petrol in Delhi Crosses Rs 80 Mark, Oppn Unites for Bharat Bandh

Petrol in Delhi Crosses Rs 80 Mark, Oppn Unites for Bharat Bandh Price of petrol rose by 3.78% since August 1, while diesel grew dearer by 6.47% in the same duration. In Mumbai, the prices of petrol and diesel on Sunday are Rs 87.89 per litre diesel Rs 77.09 per litre respectively. Nimish Patel, chairman of GST Committee of All India Motor Transport Congress said that the combination of rising prices of crude oil and simultaneous weakening of Rupee against the ... [Full Article...]

China promises to retaliate if USA imposes more tariffs

China promises to retaliate if USA imposes more tariffs Sedans and other small cars are falling out of favor with Americans . China has retaliated in kind, and Washington and Beijing have continue to ratchet up threats of more tariffs. based suppliers". Chinese imports of US goods rose 11.1 percent to $13.3 billion. "Chinese trade data and a ballooning record surplus with the U.S. [Full Article...]


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