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India promotes digital transactions to encourage cashless economy

NEW DELHI Finance Minister Arun Jaitley on Thursday announced incentives ranging from 0.75 percent to 10 percent on retail purchase of products like petrol, diesel and insurance products from state-run companies to encourage digital, cashless transactions.

Lower for longer, ECB scales back asset buys

FRANKFURT The European Central Bank trimmed back its asset buys in a surprise move on Thursday but promised protracted stimulus to aid a still fragile recovery, and dismissed any talk of tapering the programme away.

U.S. derivatives regulator to move on from Dodd-Frank under Trump

WASHINGTON The U.S. derivatives regulator will move on from reforms created in the wake of the 2007-09 financial crisis to a new focus on U.S. competitiveness and the potential for shocks to the global $710 trillion swaps markets under President-elect Donald Trump.

Philippines outsourcing firms hit by Trump and 'Trump East'

MANILA When Philippines President Rodrigo Duterte, the man dubbed "Trump of the East", told U.S. businesses to pack their bags if they didn't like his anti-American rhetoric, the huge and growing outsourcing industry got a little nervous.

India scraps wheat import duty, purchases may hit decade high

NEW DELHI/MUMBAI India on Thursday scrapped its 10 percent import duty on wheat after droughts in the past two years depleted stocks and raised prices, a move that traders said could lift overseas purchases to their highest in a decade.

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