Business

Euro zone industrial production rose in June, official data showed on Wednesday, but the rebound after coronavirusinduced record drops in March and April was below expectations for a second straight month and slowed from May.

Benchmark U.S. crude oil for September delivery fell 33 cents to settle at $41.61 a barrel Tuesday. Brent crude oil for October delivery fell 49 cents to $44.50 a barrel.

Gold prices dived on Tuesday as the dollar clung to recent gains, while expectations of a U.S. stimulus deal boosted risk appetite and prompted investors to take profits from bullion's run to a record high.

The World Food Programme (WFP) will send 50,000 tonnes of wheat flour to Lebanon after last week's blast at Beirut's port destroyed its only silo with all the private stocks held there, a United Nations report said on Tuesday.

U.S. President Donald Trump's weekend attempt to sidestep stalled congressional negotiations over the next coronavirus aid package will do little to boost the economy, experts said.

A onetime debt restructuring allowed by the Reserve Bank of India (RBI) to help lenders and borrowers amid the COVID19 pandemic will prolong uncertainty about the banking sector's asset quality, Fitch Ratings said on Tuesday.

The S&P 500 ended up slightly and the Nasdaq fell on Monday as investors extended a rotation into value stocks from heavyweight techrelated names while awaiting news on progress in a U.S. fiscal support bill.

Oil rose on Monday, supported by an improvement in Chinese factory data, rising energy demand and hopes for an agreement in the United States on more coronavirusrelated economic stimulus.

Emerging market central banks continued to cut interest rates in July as policymakers battling the fallout from the coronavirus pandemic tried to shore up their economies, though the pace of reductions has slowed down considerably.

Saudi Aramco on August 8 announced that its second-quarter net profit dived due to a sharp drop in oil prices as the COVID-19 pandemic hampered global demand.

At the interbank forex market, the rupee opened weak at 74.96, down 3 paise over its previous close of 74.93.

Oil prices climbed in early trade on Monday, clawing back over half of Friday's losses, on hopes for a stimulus deal to shore up the U.S. economic recovery and a pledge from Iraq to deepen its crude oil supply cuts.

Asian shares started cautiously on Monday as investors kept one eye on flaring tensions between the United States and China and another eye on U.S. fiscal stimulus after talks between the White House and Democrat lawmakers broke down.

Saudi state oil group Aramco on Sunday reported a 73.4% fall in secondquarter net profit, a steeper drop than analysts had forecast, and said it expected capital expenditure for 2020 to be at the lower end of a $25 billion to $30 billion range.

A top Federal Reserve official on Friday defended the central banks efforts to launch a Main Street lending program and said the small number of loans approved so far would likely expand by a significant amount in coming months, especially if the pandemic...