British Prime Minister Theresa May will lead a delegation of small and medium-size businesses to India in November as part of efforts to bolster trade with countries outside the European Union as Britain prepares to leave the bloc. The November trip, May’s first bilateral visit to a country outside Europe
Business
Samsung phone recall likely to spark Android turf war
Samsung Electronics' abandonment of the Galaxy Note 7 due to safety concerns will likely touch off a turf war among Android Smartphone makers, analysts said, presenting them a rare opportunity to gain share but with less room for archrival Apple Inc. Consumers tend to commit to their choice between Apple’s
Toyota recalls 340,000 Prius hybrid cars for defect in brakes
Toyota Motor Corp. recalled 340,000 gas-electric hybrid Prius cars around the world on Wednesday -- 212,000 of them in Japan and 94,000 in North America, for a defect in their parking brakes.Toyota acknowledged receiving reports of crashes, injuries and deaths. The Japanese automaker refused to provide details, saying it was
SBI’s Arundhati Bhattacharya in race for top World Bank job
State Bank of India chairperson Arundhati Bhattacharya will be India’s nominee for the post of managing director and chief operating officer at the World Bank. If she succeeds, Bhattacharya, 60, will be the first Indian to be holding an important managerial position in an international financial institution. The closest was
India may seek $7.5 billion in extra spending to spur growth
India may seek parliamentary approval to spend about $7.5 billion more on roads, railways and other public programs over the next five months, two government sources said, as Prime Minister Narendra Modi looks to spur growth and create jobs. The new spending, details of which are still being worked out,
Saudi Arabia, Japan’s Soft Bank plan $100 billion tech fund, one of world’s biggest
‘Irrational’ 10-year home price spike transforms Vancouver
Risk of speculation in Toronto condos mitigated by presales: CMHC
Most Toronto condominium projects do not begin construction until 70 per cent of units are sold, curbing the risk of speculation, Canada’s housing agency said recently in a report that suggested overbuilding fears may be overdone. A prolonged Canadian housing market boom, particularly in the two major markets of Toronto
ADB trims 2016 growth forecast for developing Asia on weak global outlook
The Asian Development Bank lowered its 2016 growth forecast for developing Asia, citing the slowing US economy and near-term shocks from Britain’s decision to leave the European Union. Developing Asia, which groups 45 countries in the Asia Pacific region, is now expected to expand 5.6% this year, slightly weaker than
IMF says Brexit will drag down world economic growth
Britain’s decision to leave the European Union will reduce global economic growth this year and next, the International Monetary Fund said recently. The IMF that it is shaving its estimate for worldwide growth to 3.1 percent this year and 3.4 percent in 2017. Both estimates are 0.1 percentage points lower