The Indian government is not reforming its banking sector quickly enough, as troubles such as high levels of bad loans hold back economic progress, a top consultant told CNBC on Thursday. Prime Minister Narendra Modi’s administration has done “many good things” such as implementing a goods and services tax and a new bankruptcy law, according […]

A Facebook post promoting a dating app was so explicit about its racism and discriminatory stance on foreign workers that many around the world thought it may have been fake. It’s now available for some users on Apple’s App Store. Herbert Eng, the founder of Singapore-based dating app HighBlood, first made waves in March when […]

The gunman responsible for the deadliest mass shooting in modern U.S. history meticulously planned the event and spent decades acquiring weapons, while he lived a secret life, Las Vegas police said on Wednesday. Police also told a news conference that 317 of the 489 people injured in the Las Vegas shooting have been discharged from […]

An Indian-American dealmaker for HNA Group, who recently held a big stake in the Chinese conglomerate, said he kept the shares for a decade as an “accommodation” to the company and received no compensation for doing so. HNA shook up its ownership structure in July by transferring a near 30 percent stake, comprising shares formerly […]

The World Bank raised its economic growth forecasts for developing East Asia and Pacific for this year and 2018, but added the generally positive outlook was clouded by risks such as rising trade protectionism and geopolitical tensions. The Washington-based lender now expects the developing East Asia and Pacific (EAP) region, which includes China, to grow […]

UAE-based Abu Dhabi Future Energy (Masdar) and EDF Energies Nouvelles, a wholly-owned unit of France-based EDF, have submitted the lowest bid to build the first utility-scale solar plant in Saudi Arabia, results seen by Reuters show. The 300-megawatt solar photovoltaic project is in Sakaka, the Al Jouf Province in the north of the kingdom. The […]

In an interview with Fox News, President Donald Trump said that Puerto Rico’s debt will have to wiped out. “They owe a lot of money to your friends on Wall Street and we’re going to have to wipe that out. You’re going to say goodbye to that, I don’t know if it’s Goldman Sachs but […]

The death toll in Puerto Rico from Hurricane Maria has more than doubled to 34, a spokesman for Governor Ricardo Rosello said on Tuesday. The worst hurricane to hit the U.S. territory in more than 90 years directly killed 19 people, said Pedro Cerame, the governor’s director of communications in Washington. Just hours earlier when […]

Asia is set for a mixed trading day on Wednesday, even after U.S. equities closed higher overnight. In Japan, the Nikkei 225 was up 0.23 percent at 20,662.48 in early trade and the Topix index advanced 0.1 percent. Fast Retailing shares were up 1.73 percent after reports said same-store sales at its Uniqlo retail outlets […]

Australia has ended its search for the missing MH370 Malaysia Airlines flight that disappeared three years ago carrying 239 people. The country’s civil aviation authority admitted in its final report that it was no closer to discovering what happened after the plane was lost during a scheduled flight from Kuala Lumpur to Beijing. Australian searchers […]