• Pakistan to start talks with International Monetary Fund as rupee continues to fall
Pakistan to start talks with International Monetary Fund as rupee continues to fall

Speaking to journalists in Bali, the Deputy Director, Research, IMF, Gian Maria Milesi-Ferretti, said the largest economies on the continent were holding down economic development in Africa as a result of poor growth rate. Nigeria's growth is projected to increase from 0.8 per cent in 2017 to 1.9 per cent in 2018 and 2.3 per cent in 2019 (0.4 perce...

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  • Fed's interest rate increases 'don't have to go as fast'
Fed's interest rate increases 'don't have to go as fast'

Trump told reporters while traveling to Erie, Pennsylvania, for a campaign rally. He described the path of rate increases - most recently to a level of 2-2.25% - as "crazy", adding that the stock market reaction was the "correction that we've been waiting for".

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  • US seeks answers about missing journalist from Saudi ally
US seeks answers about missing journalist from Saudi ally

USA intelligence services intercepted communications of Saudi officials discussing a plan to capture Saudi journalist and government critic Jamal Khashoggi , who disappeared in Turkey last week. Khashoggi's disappearance. He has been critical of some policies of the crown prince and Riyadh's intervention in the war in Yemen . A week af...

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  • India will break USA sanctions and keep importing Iranian oil
India will break USA sanctions and keep importing Iranian oil

Sanctions against Iran will block payment routes for India through the USA dollar. According to an executive order (EO 13846) issued by President Donald Trump , all American and non-American entities were given a six-month "wind-down" period from May 2018, in which to "zero out" all transactions with designated Iranian oil companies and port ope...

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  • Two PSUs place orders for Iranian crude
Two PSUs place orders for Iranian crude

Pradhan reportedly said Monday that India does not know if it would get a waiver from the U.S. The catalyst for crude prices for getting tighten was the worries about tighter supply conditions once Washington's sanctions against Iran's crude oil exports kick in beginning in November.

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  • International Monetary Fund revises medium-term growth rate downward
International Monetary Fund revises medium-term growth rate downward

Maurice Obstfeld , IMF chief economist, said: "US growth will decline once parts of its fiscal stimulus go into reverse". The US growth forecast for 2019 is down from 2.7% to 2.5%. The IMF warned that China's growth even risked declining by a full percentage point by next year in the event of a "worse-case" scenario, involving further tariffs c...

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  • United States reconsiders 'zero tolerance' policy on Iran oil imports
United States reconsiders 'zero tolerance' policy on Iran oil imports

The official said the administration "is ready to work with countries that reduce their imports on a case-by-case basis". A United States government official, who spoke on the grounds of anonymity, said the Trump administration is "in the midst of an internal process" of considering exceptions called SRE waivers, or significant reduction exempt...

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  • U.S. Sanctions cause Oil Value to Rise
U.S. Sanctions cause Oil Value to Rise

In 2015, the administrations of former President Barack Obama and Iranian President Hassan Rouhani forged an unprecedented deal to lift extensive USA sanctions on Iran in exchange for the country to agree to restrict its nuclear activities, which it maintained were strictly for peaceful purposes.

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  • Labor Dept.: Unemployment, job growth down in September
Labor Dept.: Unemployment, job growth down in September

This suggests that the tax cuts that took effect this year are boosting job opportunities. The Labor Department also said the unemployment rate fell to 3.7 percent in September from 3.9 percent in August. Teen unemployment fell by 0.3 percent to 12.8 percent. For close to two-thirds of the USA population, this is the lowest unemployment rate in t...

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  • Mattress Firm files for bankruptcy, soon closing 200 stores
Mattress Firm files for bankruptcy, soon closing 200 stores

The company now has more than 3,300 locations in the United States, including four in Sioux Falls. Casper plans to open 200 stores across the United States in the next three years as part of an ambitious growth plan. Mattress Firm said it will not conduct any liquidation sales. The bankruptcy filing comes as parent company South African-ba...

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  • Rupee at New Record Low: Will India's Central Bank Save the Currency?
Rupee at New Record Low: Will India's Central Bank Save the Currency?

In forex market, the rupee breached the crucial 74 level to trade at 74.07, down 49 paise. At 2.34pm, the home currency was trading at 74.09 a dollar, down 0.61% from its Thursday's close of 73.58. The 10-year benchmark bond yield fell to 8.05 percent from 8.13 percent before the policy was announced, as traders expecting a rate hike were caugh...

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  • Unemployment rate falls to 3.7 percent, lowest since 1969
Unemployment rate falls to 3.7 percent, lowest since 1969

The low number of new jobs last month was also partially offset by upward revisions to July and August job gains, which reflect an additional 87,000 jobs. Economists also noted that the initial September payrolls growth estimate tended to be revised higher. Black unemployment dropped to 6 percent , almost matching the historic low of 5.9 perce...

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  • PM shimmies into conference speech then blasts Corbyn & ridicules Johnson
PM shimmies into conference speech then blasts Corbyn & ridicules Johnson

British Prime Minister Theresa May stole the show as she brought the four-day Conservative Party Conference to a close Wednesday in Birmingham . There was no mention of the ex-foreign secretary, who won thunderous applause from 1500 activists as he called on her to "chuck" the Brexit plan agreed at her country residence in July.

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  • Government Announces Relief On Fuel Prices By Reducing Excise Duty
Government Announces Relief On Fuel Prices By Reducing Excise Duty

Taxes on petrol and diesel , which account for more than a third of retail fuel prices, are one of the biggest sources of income for the government, which is seeking to keep the country's budget deficit in check. Fuel prices cut by ₹2.50 ($.034) a litre in several states across India. Brent crossed $86 per barrel and this is the highest in the ...

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  • Canada, buoyed by trade deal, to push US on metal tariffs
Canada, buoyed by trade deal, to push US on metal tariffs

Despite reaching a new trade agreement with Mexico and Canada over the weekend to replace the North American Free Trade Agreement , President Trump said at the White House on Monday the key US trading partners would still not be exempted from USA steel and aluminum tariffs.

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  • Pence to address China in Hudson Institute speech
Pence to address China in Hudson Institute speech

Pence made clear that the United States still adhered to its four-decade policy of recognizing only Beijing but added to applause: "Let me also say that Taiwan's embrace of democracy shows a better path for all the Chinese people". Washington has long cited China as a major culprit in the cyber hacking of USA government and corporate databases...

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  • Aston Martin IPO pricing narrows toward bottom end of range
Aston Martin IPO pricing narrows toward bottom end of range

Aston, which has a long-running association with the fictional British spy, said in a statement that it has priced its initial public offering (IPO) at £19 per share in the middle of its stated range. Aston Martin, which has a history of bankruptcy filings, is now producing healthy profits. "We are excited about the momentum across the company...

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  • Toyota vehicle fault prompts massive recall
Toyota vehicle fault prompts massive recall

Japan's transportation ministry said Toyota had reported three malfunctions locally related to the issue, but no accidents. Toyota doesn't sell the Auris in the U.S., which is why the Stateside component of this recall only covers the Prius and Prius V.

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  • U.S. says China wants to kick Trump out of the White House
U.S. says China wants to kick Trump out of the White House

The allegations, however, have raised questions as to whether Trump and his aides are trying to deflect attention from an investigation of his campaign's possible ties to Russian meddling in the 2016 presidential election and also set up China for the blame if Republicans do poorly in next month's elections.

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  • Pence accuses China of 'malign' campaign to undermine Trump
Pence accuses China of 'malign' campaign to undermine Trump

Vice President Mike Pence , in a speech Thursday, bluntly accused China of "meddling in America's democracy" to an extent that far surpasses Russian Federation, though he provided little detailed evidence to back up his claim. After Trump's accusations directed at China last week, Wang Yi, China's Minister of Foreign Affairs, rejected the charge d...

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