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LeEco boss asks for time, pledges to pay back debts LeEco boss asks for time, pledges to pay back debts

Jia, writing in a post on his public WeChat account, apologised for causing worry, pledged to pay back LeEco`s debts and to stick to its ambitious electric vehicle project.

SoftBank aims to raise $3 billion-$5 billion via bond issue SoftBank aims to raise $3 billion-$5 billion via bond issue

SoftBank Group Corp is targetting raising between $3 billion and $5 billion through an offering of U.S. dollar bonds, according to a person familiar with the plans.

State Bank of Pakistan says 3% currency drop to address external pressures, help economy State Bank of Pakistan says 3% currency drop to address external pressures, help economy

Pakistan`s central bank said on Wednesday a sudden 3 percent weakening of the rupee against the dollar would help the country`s external account and shore up economic growth.

India, Israel launch 5-year tech fund to further biz ties India, Israel launch 5-year tech fund to further biz ties

India and Israel on Wednesday launched a five-year technology fund, reminiscent of a fund that boosted the Jewish state's ties with US over four decades, and agreed to holds talks for an investment protection treaty in a bid to boost trade and business ties.

Troubled China tech giant LeEco confirms assets frozen

Assets linked to Chinese tech giant LeEco have been frozen in a dispute with a creditor, a unit of the troubled company has confirmed, highlighting its perilous financial state.

Samsung on track to take Intel's chip crown with record second-quarter earnings Samsung on track to take Intel's chip crown with record second-quarter earnings

Samsung Electronics Co Ltd is expected to report its best-ever quarterly profit in the second quarter, with soaring memory chip sales pushing it past Intel Corp as the biggest semiconductor maker by revenue for the first time.

Pressure piles on China's LeEco as assets frozen after bank complaint Pressure piles on China's LeEco as assets frozen after bank complaint

Chinese tech group LeEco is under growing pressure from its creditors and business partners, with a court in Shanghai ordering some of its assets frozen over late payments to a bank.

US rolls out expedited entry for low-risk Indian travellers US rolls out expedited entry for low-risk Indian travellers

The US has started rolling out for India its Global Entry programme which allows for expedited clearance of pre-approved, low-risk travellers.

Indian Oil plans to buy North American sour crude for the first time Indian Oil plans to buy North American sour crude for the first time

India`s largest oil refiner is seeking to buy the crude grades Mars, Southern Green Canyon and Thunderhorse from the United States and Western Canadian Select from Canada in the tender, they said.

Nasdaq price glitch leaves tech giants stocks fixed at $123.47 Nasdaq price glitch leaves tech giants stocks fixed at $123.47

For tech giant Amazon which enjoyed an opening price of $972.79 a share, the error had had a catastrophic effect on the appearance of its market cap while other companies like struggling Facebook game maker Zynga saw their stock price soaring by 3,292 percent.   

Fraud charges: Ex-Barclays CEO appears in court

Accused over fraud charges, former Barclays chief executive John Varley appeared in a London court on Monday. It is the first time a boss of a global bank has faced charges arising from the 2008 financial crisis.

G20 should support open trade to promote eco growth: WTO G20 should support open trade to promote eco growth: WTO

The report assumes significance as the WTO in September 2016 lowered its global trade growth forecast for this year to 1.7 percent, stating that this slowdown is "serious" and should serve as a "wake-up call" for nations.

UK mulls pension loophole fix to help Tata Steel UK mulls pension loophole fix to help Tata Steel

The new scheme has been established as an alternative to using the Pension Protection Fund (PPF) as Tata has offered to pump 550 million pounds into the scheme.

 

GST to boost GDP; positive for rating: Moody's GST to boost GDP; positive for rating: Moody's

The GST will also support higher government revenue generation through improved tax compliance and administration.

Money in Swiss banks: India slips to 88th place with Rs 4,500 crore; UK on top Money in Swiss banks: India slips to 88th place with Rs 4,500 crore; UK on top

India has slipped to 88th place in terms of money parked by its citizens with Swiss banks, while the UK remains on the top.

IMF to participate for 'last time' in Greek bailout: Schaeuble IMF to participate for 'last time' in Greek bailout: Schaeuble

The German finance chief has been inflexible on the issue of Greek debt relief, in opposition to the IMF which says it needs to be done to breathe new life into Greece's floundering economy.

Eurozone inflation falls to 1.3% in June Eurozone inflation falls to 1.3% in June

Consumer price inflation in the 19-nation single currency bloc fell to 1.3 percent from 1.4 percent in May and compared with 1.9 percent in April, the official Eurostat statistics agency said.

Samsung announces new US plant ahead of Trump summit with Moon Samsung announces new US plant ahead of Trump summit with Moon

Samsung Electronics Co Ltd said it will open its first US appliances plant in more than three decades, a politically pleasing investment ahead of South Korean leader Moon Jae-in`s two-day summit with U.S. President Donald Trump.

Swiss banks' profit halves to CHF 7.9 billion; staff count down

Banks in Switzerland saw their profits nearly halve to CHF 7.9 billion (over Rs 53,000 crore) in 2016 amid continuing global pressure on their famed secrecy walls.

Increase salary of H-1B visa holders: US Labour Secretary Increase salary of H-1B visa holders: US Labour Secretary

US Labour Secretary Alexander Acosta has called for increasing the minimum salary of foreign workers on H-1B visas, the most sought-after by Indian IT firms, from the existing USD 60,000 to at least USD 80,000.