Business

Oil remains weak after OPEC-led out extension falls below expectations

Oil remains weak after OPEC-led out extension falls below expectations

Equatorial Guinea which first expressed interest in joining OPEC in 2009, was among 10 non-cartel members who last December pledged to reduce oil production by almost 600,000 barrels per day. West Texas Intermediate for July delivery fell $1.61, or 3.1 percent, to $49.75 a barrel at 11:41 a.m. on the New York Mercantile Exchange. "The previous cuts have only done so much to stabilize the markets".



Moody's downgrades China over surging debt fears

Moody's sees China's growth potentially declining to near 5 per cent over the next five years, even as the government's direct debt burden rises towards 40 per cent of gross domestic product by 2018 from about 14 per cent now. The ratings of the firms, which are ultimately owned by the government, were revised down by one notch, Moody's said in a statement . It attributed the move to expectations that China's economy-wide leverage would increase over the coming years, planned reform ...


Fresh CCTV images of Manchester bomber released in bid to track movements

Fresh CCTV images of Manchester bomber released in bid to track movements

Just five days later, he carried out the deadly attack, killing 22 people outside an Ariana Grande concert at Manchester Arena and injuring dozens more, authorities say. Over the weekend, the United Kingdom's state of alert was downgraded from "critical" - the highest level - to "severe", and armed soldiers were gradually being withdrawn from high-profile sites, including Downing Street and Buckingham Palace.



First victim of London terror attack named as Christine Archibald

Police said they shot and killed the three attackers. The 12 arrests were made in the ethnically diverse east London suburb of Barking, with Sky News reporting that a property raided by police belonged to one of the killers. Grande, who headlined a benefit concert in Manchester on Sunday, alongside stars including Pharrell Williams and Justin Bieber, tweeted that she was " Praying for London ".


Death toll rises to 22 in truck-bus collision in UP's Bareilly

Death toll rises to 22 in truck-bus collision in UP's Bareilly

The accident occurred on an under-construction stretch of the highway between Bareilly and Shahjahanpur. While 22 charred bodies have been recovered from the bus, those injured have been admitted to nearby hospitals where the condition of some are said to be serious, the official said.



World Bank sees global economy growing 2.7 percent this year

Meanwhile, Russia and Brazil are expected to return to growth after contracting for the past two years. The World Bank's 2017 global growth forecast of 2.7 percent compares to its 2.4 percent estimate for 2016, a figure that increased by a tenth of a percentage point since January.