NEW DELHI/MUMBAI India pushed ahead with its decision to scrap banknotes even as the Reserve Bank of India's (RBI) own board expressed concern whether the cash could be replaced quickly enough, the central bank has said in written testimony to parliament.
DAVOS, Switzerland India's biggest lender by assets, State Bank of India, could tap capital markets next fiscal year to raise up to $1.5 billion, its chief said on Friday, though it first needs to complete a planned merger with its subsidiary banks.
Apple Inc filed a $1 billion lawsuit against supplier Qualcomm Inc on Friday, days after the U.S. government accused the chip maker of resorting to anticompetitive tactics to maintain a monopoly over key semiconductors in mobile phones.
WASHINGTON The new U.S. administration of President Donald Trump said on Friday its trade strategy to protect American jobs would start with withdrawal from the 12-nation Trans-Pacific Partnership (TPP) trade pact.
LONDON HSBC has begun cutting around 100 senior jobs in its investment banking division worldwide this week, according to sources with direct knowledge of the matter.
ABU DHABI Abu Dhabi's government merged two of its top investment funds on Saturday to strengthen their financial clout in an era of low oil prices, creating a company with assets totalling about $125 billion.
MOSCOW Russia has cut its oil output by around 100,000 barrels per day (bpd) in January as part of the global deal between Moscow and OPEC, Russian Energy Minister Alexander Novak was quoted as saying by TASS news agency on Saturday.
BRUSSELS Donald Trump's policy plans in his first days in office are likely to dominate headlines in the coming week, but the new president himself will also get a first read-out on the health of the U.S. economy.
MUMBAI Fairfax Financial Holdings is in early talks to sell 25 percent of India's largest private general insurer ICICI Lombard in a deal that could fetch up to $1 billion, as the Canadian firm looks to cash out and start a new insurance joint venture, sources familiar with the matter said.
TOKYO Japan is threatening to take India to the WTO over restrictions that nearly halved its steel exports to the South Asian nation over the past year, a step that could trigger more trade spats as global tensions over steel and other commodities run high.