Business

Oil prices strengthened on Wednesday, as OPEC and its allies were seen complying with a pact to cut oil supply in September, even as concerns loomed that recovery in fuel demand will be stalled by soaring global coronavirus cases.

United Airlines financial hole grew deeper over the summer as a modest recovery in air travel slowed down, pushing the carrier to a loss of $1.84 billion in the typically strong third quarter.

Some experts, however, pointed out that the RBI defines it as an FDI (foreign direct investment) if an investment is made by anyone residing outside India through capital instruments into a listed Indian company for a stake of 10 per cent or more.

Australia's Westpac Banking Corp said on Wednesday it will exit operations in China and some other Asian markets to focus on its core domestic and New Zealand businesses, following a review of its international operations.

The European Union won permission on Tuesday to impose tariffs on $4 billion of U.S. goods in retaliation against subsidies for planemaker Boeing and deepening a record trade spat that has already seen Washington place duties on EU imports.

South Korea's Hyundai Motor Co started construction on a research and development centre in Singapore on Tuesday that will house a smallscale electric vehicle production facility.

A latestage study of Johnson & Johnsons COVID19 vaccine candidate has been paused while the company investigates whether a study participants unexplained illness is related to the shot.

The International Energy Agency (IEA) has nudged up its global gas demand forecast for this year, but still sees the biggest fall on record due to the impact of the COVID19 pandemic.

Japanese trading house Mitsui & Co Ltd plans to sell its remaining stakes in coalfired power stations by the end of the decade as it shifts to gas from coal to help achieve its 2050 net zero emission target, its chief executive told Reuters.

Chinese stocks led Asian markets higher on Monday as investors bet on a steady recovery for the world's no. 2 economy, though caution about the fate of U.S. stimulus kept the dollar firm and a central bank policy tweak unwound some of the yuan's gains.

Triller Inc, a budding competitor to popular shortvideo app TikTok, is in discussions with blankcheck acquisition companies about a merger which would take the U.S. social media company public, according to people familiar with the matter.

Dubai's nonoil private sector expanded for a third consecutive month in September as it continued to see a modest improvement in business conditions, a survey showed on Sunday.

Stocks that moved heavily or traded substantially Friday:

As per the investigation, Md Saifi created two companies by the name of M/s Techno Electrical and M/s Lata Sales based in New Delhi on the basis of bogus and forged documents in the name of non-existent persons at addresses not even pertaining to firms.

The government-mandated rates are way below the cost of production of USD 3.5-3.7 per million British thermal unit, Oil and Natural Gas Corp (ONGC) Director (Finance) Subhash Kumar said.

Japan's core machinery orders likely fell in August, a Reuters poll found on Friday, reversing the previous month's gain as the coronavirus pandemic weighed on business investment.