Indian banks should draw a roadmap by the end of this year for complying with new capital rules under the international Basel II accord, the Reserve Bank of India (RBI) said on Tuesday.
Surging crude oil prices pushed up British inflation in April and analysts predicted further acceleration this month as the cost of petrol keeps rising.
Strong growth in the US economy is being financed by the United States' budget and trade deficits, and this carries risks for foreign exchange and interest rates, French President Jacques Chirac said on Tuesday.
US housing starts slid in April, the government said on Tuesday, but permits to build new homes rose more than expected in a sign builders foresee solid demand as buyers rush to lock in low mortgage interest rates.
Opec expects world oil demand to grow by nearly 1.9 million barrels a day in the third quarter this year, driven higher by strong economic growth, the oil producer cartel said in its monthly oil market report on Tuesday.
Inflation in the 12-nation eurozone accelerated to an annual rate of 2.0 percent in April from 1.7 percent in March, the European Union statistics office said on Tuesday, confirming its flash estimate from last month.
Three major Wall Street banks will pay a combined $15 million under a censure issued on Tuesday by brokerages regulator NASD for improper initial public stock offering allocation practices.
China vowed Tuesday to crackdown on "wasteful" construction in its cities and towns, which has led to large amounts of land, money and resources being used for unnecessary projects.
Confidence among German analysts and investors fell to a 10-month low in May on worries about soaring oil prices, rising interest rates and weak domestic demand, a survey showed on Tuesday.
Japan's economy grew at a faster pace than expected in the first three months of the year as rising business investment and consumer spending helped to broaden an export-led recovery.
The White House said on Tuesday that President George W. Bush plans to re-nominate Federal Reserve Chairman Alan Greenspan to a fresh four-year term at the helm of the US central bank.
The White House said on Tuesday that President George W. Bush plans to re-nominate Federal Reserve Chairman Alan Greenspan to a fresh four-year term at the helm of the US central bank.
International Business Machines Corp and Cisco Systems Inc said they will launch a joint services and product offering aimed at corporations who buy telephone services over the Internet.
International Business Machines Corp and Cisco Systems Inc said they will launch a joint services and product offering aimed at corporations who buy telephone services over the Internet.
China has signed a long-awaited pact with Kazakhstan to build a multibillion-dollar pipeline to pump crude from the Central Asian nation and help the world's second-largest oil consumer secure its oil supply.
The World Bank plans to increase its support for development in middle-income countries to encourage more private sector investment, according to an internal bank report, in a new strategy that could see more funding going to their governments.
Japan's Honda on Tuesday urged Malaysia to ensure a level playing field for non-national auto-makers under the Association of Southeast Asian Nations Free Trade Area.
A mission of the International Monetary Fund started fresh talks with Croatia on Tuesday on a new stand-by arrangement that should reassure foreign investors and help the country reduce fiscal deficit and foreign debt.
No-frills airline easyJet Plc has launched a legal challenge against the merger between Air France and KLM on the grounds it would substantially reduce consumer choice.
Singapore Airlines Ltd, the world's second-largest airline by market value, said on Tuesday it would stick to plans to become the world's first carrier to fly the 555-seat Airbus A380 in 2006.
The European Central Bank on Tuesday allocated 223.5 billion euros in 7-day refinancing agreements at 2.00 percent and above for a weighted average rate of 2.01 percent.
Nissan Motor Co, unfazed by talk of over-investment in China, on Tuesday opened a joint venture sedan plant - part of a spending spree by auto makers gunning for a piece of the world's fastest growing major car market.
Thailand will ban imports of the gasoline additive methyl tertiary butyl ether (MTBE) by end-2006 as part of a plan to reduce the country's dependence on imported oil, Energy Minister Prommin Lertsuriyadej said on Tuesday.
Communist Vietnam will keep state subsidies on oil imports to fuel its fast-expanding economy despite a sharp rise in global energy prices, state media reported on Tuesday.
Indonesia needs to show it is serious about protecting investors and reforming its laws if it wants to turn around declining investment and achieve growth comparable to its neighbours, the World Bank said on Tuesday.
Malaysian shares ended with small gains on Tuesday, regaining some composure after a 4.6 percent loss in three days, sparked by concerns over rising oil prices and prospects of US rate hike.
Indian shares made their second-biggest daily gain on Tuesday as investors hunted bargains a day after the market's worst crash, encouraged by signs that a reformist leader might be sworn in later this week.
US stocks sank on Monday, with all three major market gauges falling to their lowest levels this year, after the killing of a key figure in Iraq's new government increased investors' worries about geopolitical instability and helped push US oil futures pr
Taiwan stocks closed higher on Tuesday, bouncing from a nine-month low, as government moves to loosen regulations on foreign trading encouraged investors to come back to buy tech shares like UMC.
Leading Hong Kong shares finished higher on Tuesday, helped by a rebound in laggard blue-chip stocks and China commodity plays such as offshore oil company CNOOC and Maanshan Iron and Steel.
Sri Lankan stocks fell more than two percent on Tuesday, with investors disappointed by the lack of an expected announcement on restarting peace talks between the Tamil Tiger rebels and the government, brokers said.
Philippines shares slumped to a six-week low on Tuesday following a sharp drop in Philippine Long Distance Telephone Co's (PLDT) shares in New York and worries over delays in the vote count after the May 10 elections.
Singapore shares finished higher on Tuesday, snapping four days of losses as investors hunted for bargains in airline, banking and property blue chips.
Tokyo stocks closed higher on Tuesday as bargain hunters, inspired by robust Japanese growth data, scooped up banks, brokerages and steel makers that were beaten down in the market's recent sell-off.
The Jakarta stock market closed higher on Tuesday as a previous day slump to five-month lows on rising oil prices and US rate rise expectations prompted some bargain hunting.
Stocks stretched to fresh session highs in midday trading on Tuesday, as investors, encouraged by a batch of upbeat earnings reports, nibbled at stocks beaten to 2004 lows a day earlier.
South Korean shares rebounded 1.8 percent on Tuesday, with market leader Samsung Electronics Co Ltd and other large-cap shares climbing on bargain hunting, as investors bet recent losses were overdone.
European corporate bonds ticked higher in average value on Tuesday to track gains on US and European stock markets, but bond traders were reluctant to declare the rise a rally.
European corporate bonds ticked higher in average value on Tuesday to track gains on US and European stock markets, but bond traders were reluctant to declare the rise a rally.
Britain's top shares bounced back from a two-day fall on Tuesday with investors encouraged by a batch of robust results, a 1.5 billion pound bid for biotech firm Celltech and some easing in rampant oil prices.
The Indian rupee ended firmer for the second straight day on Tuesday, with sentiment bolstered by central bank support and a bounce of more than eight percent on the equity market after a historic drop a day earlier.
The dollar seesawed versus the yen on Tuesday, as investors weighed healthy gross domestic product data in Japan against expectations that interest rates will soon rise in the United States.
The dollar wiped out some of last week's gains on Monday as geopolitical tensions resurfaced following bombings in Turkey and Iraq, sparking a sell-off in the US currency on heightened security fears.
Indonesia's rupiah was the weakest currency in Asia on Tuesday as regionals trod water, wary of a volatile Japanese yen and a tentative recovery in stock markets.
The Australian dollar managed to hold on to the 68 US cent area on Tuesday after getting hammered in offshore and early Asian trading on a renewed bout of investor risk aversion that saw it lose more than a cent.
Sterling recouped earlier losses against the dollar on Tuesday and gained ground versus the euro as high-yielding currencies such as the pound won a respite from recent selling.
The yen rallied broadly on Tuesday on news the Japanese economy grew faster than expected in the first three months of 2004 while the euro took a hit from signs of souring German economic sentiment.
A Thai train carrying nearly a million litres of fuel derailed and exploded Tuesday after it was struck by a truck, injuring three people, according to police and news reports.
Bahrain should immediately release a group of opposition activists detained for petitioning the Gulf state's government for more democratic reforms, a human rights watchdog said on Tuesday.
Separatists in Indonesia's Aceh province have released a total of 138 hostages in the past three days, the International Committee of the Red Cross (ICRC) said Tuesday.
Pressure mounted on the Malaysian government Tuesday to investigate claims of the torture of prisoners which human rights groups have likened to the abuse of Iraqi detainees by US troops.
South Korea's government moved to calm security fears here Tuesday as Washington confirmed plans to re-deploy some 3,600 US troops from the tense border with North Korea to Iraq.
Eight people drowned when a ferrry capsized and a man was killed by lightning as Typhoon Nida lashed the Philippines, causing floods and landslides that also buried entire villages, officials said Tuesday.
Troops were given shoot-on-sight orders as Nepal was shut down Tuesday at the start of a three-day strike called by Maoist rebels, two of whom died trying to bomb a government office, officials said.
Britain said Tuesday that it was making no fresh additions to its "red lines" on the proposed EU constitution, after being accused by Germany and France of engaging in "salami tactics" at ongoing talks in Brussels.
Thailand's queen has expressed concern about mounting violence in the kingdom's Muslim-dominated south and is loath to see it broaden into major religious strife, a government spokesman said Tuesday.
A vote recount in Taiwan's contested presidential election concluded on Tuesday, but the bitter dispute is far from ended, as a final court ruling will come after incumbent Chen Shui-bian takes office.
Two booby-trap bombs laid by armed extremists killed two soldiers and wounded 13 others on patrol in highlands near the north-east Algerian town of Setif, newspapers reported Tuesday.
US lawmakers said after a private meeting Tuesday with General Antonio Taguba that they were assured that the prison abuse scandal in Iraq was limited to the facility at Abu Ghraib.
Security for British royal family was re-examined yet again Tuesday after a man impersonating a police officer gained access to one of their main homes, reportedly wandering almost as far as Queen Elizabeth's bedroom.
Nigerian President Olusegun Obasanjo assumed emergency powers to govern the violence-torn central state of Plateau on Tuesday, saying recent killings there threatened to plunge the whole country into crisis.
US forces beat three Iraqis working for Reuters and subjected them to sexual and religious taunts and humiliation during their detention last January in a military camp near Falluja, the three said on Tuesday.
German Chancellor Gerhard Schroeder said here Tuesday that Nato was not the appropriate body to stabilise Iraq and instead called for the dispatch of troops from Islamic countries.
The Pentagon plans to stop funding Ahmad Chalabi, the Iraqi exile it hoped might help lead Iraq but whose intelligence reports and motives were questioned elsewhere in Washington, US officials said on Tuesday.
A cargo plane crashed in China's north-western Xinjiang region Tuesday, killing its seven crew and narrowly missing houses after running into trouble soon after take off.
Iraq's foremost Shia cleric, Grand Ayatollah Ali al-Sistani, called on US forces and Shia militia fighters to withdraw from the holy cities of Najaf and Kerbala on Tuesday.
The United States plans to remove Sudan from a blacklist of nations failing to help its war on terrorism, in a sign Africa's largest nation has taken some steps to fight militants, US officials said on Tuesday.
Kuwait's criminal court Tuesday sentenced a Shia activist to 10 years in jail in absentia for abusing Islam's first two caliphs in an audiotape that was distributed in the emirate, the defence lawyer said.
Pope John Paul II celebrates his 84th birthday Tuesday, with the Vatican submerged by well-wishers for this popular and earthy pontiff who has defied old age and poor health with plans for fresh trips abroad in his 25-year-old ministry to reach ordinary p
US President George W. Bush on Tuesday called recent developments in the Gaza Strip "troubling" and received assurances from Israel that its forces were not targeting Palestinian homes for destruction.
Once red-hot commodities prices are cooling as falls in wheat and soyabeans from record highs add to longer-running downdrafts across base and precious metals, some softs and freight prices.
US oil futures fell a dollar from record highs on Tuesday as dealers took profits amid signals producer group Opec could decide in June to raise its output quotas to soothe the rattled market.
Tight supplies of primary metal, strong demand and jitters over production and labour issues in Canada propped up US copper premiums near multiyear highs on Tuesday, while aluminium premiums also were firm, traders said.
NYCE cotton futures were bombarded by a steady round of speculative sales to settle softer on Tuesday, with follow-through pressure seen dragging the market down further this week, analysts said.
London coffee prices closed higher on Tuesday as the market got back on its feet after falling to a five-month continuation low in early trade, but dealers were unconvinced about the durability of gains.
Gold was little changed in Europe on Tuesday afternoon, with the market disappointed over its inability to break decisively higher after bombings in Turkey and Iraq highlighted its safe-haven role on Monday, dealers said.
CSCE cocoa futures finished with slight gains Tuesday, rebounding from new contract lows as early speculative selling gave way to trade and industry buying off of the lows, traders said.
CSCE coffee futures broke a brief losing skein to finish higher Tuesday on combined trade, roaster and speculative buying, although operators feel the market remains trapped in a wide trading band.
CSCE raw sugar futures settled near the session peak Tuesday due to late speculative buying, with follow-through interest tipped to push the market higher this week, dealers said.
Wheat futures at the Chicago Board of Trade turned higher early on Tuesday on a technical bounce from oversold levels and on weather woes, traders said.
Chicago Board of Trade soyabeans were lower on Tuesday, with nearby July at a near three-month low on speculative sales and pit rumours that soyameal would be imported immediately into the United States, brokers said.
COMEX copper futures were lower in late morning following a move to fresh 3-1/2 month lows, but losses were pared amid news of a mine fire in Kazakhstan, traders said.
COMEX gold sagged Tuesday morning amid speculation that US interest rates will rise soon and disappointment in the lack of follow-through safe-haven buying on instability in war-torn Iraq.
The President, Azad Jammu and Kashmir, Major General Sardar Mohammad Anwar (retd) called on Prime Minister Jamali at Prime Minister House here on Tuesday.