Business

NEW DELHI: India’s foreign exchange reserves are comfortable by global standards and sufficient to mitigate any undue volatility in the foreign exchange market, the finance minister said on Wednesday, a day after the rupee currency sank to…

LONDON: Gold prices touched below $1,200 per ounce on Monday to their lowest since late January 2017, losing out to U.S. Treasuries and a strong dollar as investors sought refuge from a financial market rout triggered by a crashing Turkish…

OSLO: British renewable energy investor Quercus said it will halt the construction of a 500 million euro ($570 million) solar power plant in Iran due to recently imposed U.S. sanctions on Tehran. According to Iranian energy ministry…

LAHORE: The Neelum-Jhelum Hydropower Project accomplished a momentous milestone, as this project has conquered its greatest power generation capability of 969 megawatts on Tuesday. It is reported that all the units of the project are…

NEW DEHLI: The Indian rupee fell to an all-time low Tuesday against the US dollar amid worries that Turkey’s growing financial crisis could spread to other developing-world economies. Indian Economic Affairs Secretary Subhash Chander…

NEW YORK: The state of New York sued US pharmaceutical giant Purdue Pharma and its affiliates for allegedly deceiving doctors and patients about the risks associated with its opioid products, New York Governor Andrew Cuomo and Attorney…

ISTANBUL: Turkey has doubled tariffs on some U.S. imports, such as passenger cars, and tobacco, in what its vice president said was a response to deliberate U.S. attacks on the Turkish economy. The move comes amid increased tension…

MOSCOW: Austrian Ambassador to Tehran Stefan Schulz said on Tuesday that Austria was planning to foster its ties with Iran in water resources, renewable energy, and sustainable tourism. "Environment-friendly supply and security of …

SHANGHAIi: China’s commerce ministry said a U.S. decision to subsidize renewable energy firms and impose tariffs on imported products has seriously distorted the global market and harmed China’s interests, firing the latest shot in a…

NEW YORK: The dollar advanced to a 13-month peak on Tuesday against a basket of major currencies as traders increased their safe-haven holdings of the U.S. currency on worries about the fallout from the Turkish lira’s recent fall. While…