Business

El Salvador's antitrust authority said on Tuesday it will allow an expanded market share for telecommunications firm Claro, a unit of Mexico's America Movil, on guarantees that it will abide by competition and consumer protection safeguards.

Vishwanathan, who was head of banking regulation, said the first need is to "divest" governance of the lenders from the government, and suggested doing away with the powers vested with the government under the bank nationalisation laws as a starter.

An upsurge in Chinese demand and imports of minor metal molybdenum have revitalised prices of the stainless steel ingredient, but a reversal is expected as local production ramps up after disruptions.

Wynand du Toit's safari camp in South Africa's Pilanesberg National Park lies abandoned, its tents ripped open by baboons and its survival in the balance after his insurer rejected his COVID19 claim.

Westpac Banking Corp scrapped its interim dividend on Tuesday, becoming the first major Australian bank to officially cancel a shareholder payout amid the coronavirus crisis, knocking its share price lower.

Oil prices rose on Monday as China's plans to increase U.S. crude imports countered rising tensions between the two major consumers, and as sources said OPEC+ producers almost fully complied in July with their global production cut accord.

The U.S. is imposing another round of restrictions on China's Huawei as President Donald Trump renewed accusations that the company's telecommunications equipment is used for spying.

China's JD.com Inc beat analysts' estimates for quarterly revenue on Monday, as more customers used its online platform to shop for groceries and other essentials in the face of the COVID19 pandemic.

It said degrowth in corporate GVA (better than expected results of some financial and non-financial companies) has been significantly better than revenue degrowth in Q1 FY21 as far as the results of the listed companies are concerned.

The S&P 500 slipped further away from record levels on Friday as domestic retail sales growth slowed in July, adding to worries about a wobbly postpandemic economic recovery in the absence of a new U.S. fiscal stimulus bill.

Global shares dipped on Friday as euro zone data offered little cheer for investors already worried about lacklustre Chinese economic numbers and a delay in U.S. fiscal stimulus.

Inflation in food articles was at a four-month high level of 4.08 per cent in July, mainly due to sharp rise in vegetable prices.

Hong Kong cut its economic outlook for the year on Friday, saying a recovery from recession depended on how fast it can get a new wave of coronavirus infections under control.

Global shares were mixed in cautious trading Friday as investors studied fresh data out of China showing that its recovery remains subdued.

Japan's July exports are expected to have recorded a doubledigit decline for the fifth straight month as the coronavirus pandemic hit global demand, a Reuters poll showed on Friday.

Oil prices were higher on Friday and on track for a second week of gains amid growing confidence that demand for fuel is starting to pick up despite the coronavirus pandemic that has slammed economies worldwide.