Business

Banque de Commerce et de Placements SA, DIFC Branch, has sued China Aviation Oil (Singapore) Corp Ltd over an alleged fraudulent deal as the Swiss bank seeks to reclaim the $19 million it paid to CAO for a cargo, a court document showed.

No new highlevel trade talks have been scheduled between the United States and China but the two sides remain in touch about implementing a Phase 1 deal, White House Chief of Staff Mark Meadows told reporters aboard Air Force One on Tuesday.

Japan's exports extended their doubledigit slump into a fifth month in July as the coronavirus pandemic took a heavy toll on auto shipments to the United States, dashing hopes for a tradeled recovery from the deep recession.

The United States and China have agreed to double the number of airline flights that each other's airlines can operate between the countries, from four to eight per week.

Francisco Lurueña's textile firm on the outskirts of Buenos Aires has survived 39 years of myriad economic crises. Now it stands on the verge of closure, hit by COVID19 on top of two years of recession, high inflation and a debt crisis.

Similarly, the broader NSE Nifty surged 138.25 points or 1.23 per cent to end at 11,385.35. This is the highest closing for both the indices in over five months.

British outsourcer Capita posted a 28.5 million pound ($37.44 million) loss for the first half of 2020 on Tuesday, saying it had taken a significant hit from the coronavirus and would not generate sustainable cash flow for up to two years.

The restrictions included seeking prior approvals for network expansion, and also freezing managing director and chief executive Chandra Shekhar Ghosh's remuneration.

Ant Group, Alibaba's fintech arm and China's dominant mobile payments company, plans to set up a consumer finance firm in the southwestern city of Chongqing, expanding its presence in the fastgrowing domestic business, two sources told Reuters.

Asian stocks inched up on Tuesday as SinoU.S. tensions weighed on optimism generated by Wall Street's techdriven rally, while the dollar dropped against almost all major currencies.

Asian equities were poised to track Wall Street's tech fueled rally on Tuesday that saw the Nasdaq benchmark hit a fresh record while oil prices perked up on Chinese demand and hopes SinoU.S. trade tensions were easing.

Up to 300 Pizza Hut restaurants will be closed, most of them dine-in locations not well suited for carryout and delivery at a time when millions of people are sheltering and eating at home.

The addition of 1.6 crore new debit cards between April and June of 2020 is the second-highest over a quarter since banks initiated the replacement exercise in 2018.

A look at some of the key business events and economic indicators upcoming this week:

Oil prices rose on Monday as China's plans to ship in large volumes of U.S. crude in August and September outweighed concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies.

Oil prices climbed higher on Monday, lifted by China's plans to ship in large volumes of U.S. crude in August and September, outweighing concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies.