News

  New Delhi / AFP Prime Minister Narendra Modi will look to reinvigorate the BRICS group of emerging nations at a summit this weekend with India seen as a bright spot in a bloc whose clout has been undermined by economic woes. BRICS — a club made up of Brazil, Russia, India, China and South Africa — was formed in ...

  Mumbai/ AFP Indian Finance Minister Arun Jaitley warned on Thursday that growing opposition to globalisation and free trade in Western countries would hurt the world economy, echoing concerns by the IMF and others. Jaitley told a gathering of officials from the BRICS group of emerging nations ahead of a summit this weekend that he was concerned about protectionist movements ...

  Beijing / AFP China’s exports plummeted in September, data showed on Thursday, as anaemic global demand dealt another blow to the world’s second-largest economy, while weak imports fuelled worries about crucial domestic appetite. The figures will come as a disappointment after a recent batch of healthy statistics, and suggest the Asian giant and key driver of the global economy ...

  Mumbai / AFP India’s Tata Consultancy Services reported an 8.8 percent year-on-year rise in quarterly profits on Thursday as strong growth in Europe helped the IT giant override a slump in its domestic market. The firm, based in India’s financial capital Mumbai, said net profit for the three months to September 30 rose to 65.86 billion rupees ($984 million) ...

  SEOUL/ AP Samsung Electronics said on Thursday it has expanded its recall of Galaxy Note 7 smartphones in the US to include all replacement devices the company offered as a presumed safe alternative after the original Note 7s were found prone to catch fire. The move announced on the websites of Samsung and the Consumer Product Safety Commission on ...

  Taipei / AP Apple’s new iPhone 7 series gave Taiwan microchip giant Taiwan Semiconductor Manufacturing Co (TSMC) a boost Thursday as the firm announced profits were up by almost a third compared with last year. The company was also set to benefit from the demise of Samsung’s Galaxy Note 7, analysts said, after the South Korean smartphone giant had ...

  Bloomberg Foreign Secretary Boris Johnson has said predictions of “doom” for the British economy following the decision to leave the European Union are misplaced and “will continue to be proved wrong” as the U.K. negotiates its departure from the bloc. Britain will get a good deal from the remaining member states because it is in the interests of those ...

  London / AFP British staple Marmite was taken off the virtual shelves at supermarket Tesco on Thursday, following a reported row with supplier Unilever over pricing after the pound plummeted on fears over the UK’s Brexit plans. Jars of Marmite were “currently not available” in the online store of Tesco — the world’s third biggest supermarket chain — after ...

  Caracas / AFP Venezuelan President Nicolas Maduro can pass his 2017 budget without the approval of the opposition-majority legislature, the Supreme Court ruled, triggering an outcry from the leftist leader’s opponents. Maduro and the National Assembly have been at each other’s throats since the center-right opposition took control of the legislature in January, ending the left’s 17-year monopoly on ...

  Berlin / AFP Germany’s top court on Thursday gave the government the go-ahead to approve a planned EU-Canada free trade deal, in a setback for activists who had sought to block the agreement. The Constitutional Court did set certain conditions however, stipulating that Germany may only commit to the so-called CETA deal if it wins assurances that it can ...