Business

China is about to shake up the oil futures market

The Shanghai International Energy Exchange has allocated a total storage capacity of 5.95 million cubic meters (37.42 million barrels) at six sites along China's coast to receive crude under these contracts. The country also hopes that yuan-denominated futures contracts will help its currency play a bigger role in the global economy. Speculative retail and institutional investors also propped up the launch-day's liquidity, said Chen Tong, Shanghai-based senior crude analyst at First Futures.

Business

The Latest: French gendarmerie chief praises slain officer

Mayor Eric Menassi of Trebes, a town of 6,000, said people there were forever marked. According to French police, Lakdim was on the watch list of intelligence services and was flagged in a database of radicalized militants. Dozens of others have been wounded. "He couldn't have done anything else, he wasn't someone who could shirk something", Nicolle Beltrame said of her son.

Business

Sensex plunges over 400 pts, Nifty cracks below 10000

Investors lost around Rs 1.57 lakh crore in market valuation on Friday. The Dow dropped 723 points to end at 23,958, the S&P 500 tumbled 68 points to close at 2,644 and the Nasdaq Composite Index lost 179 points to finish at 7,166.68. Vinod Nair, head of Research, Geojit Financial Services, said, "volatility expanded and market is losing its grip due to escalating tensions of trade war and spike in oil prices".

Business

Direct Flight From Perth to London to Conquer 'Last Frontier' of Aviation

The flight will be the world's second-longest after Qatar Airways' route from Doha to Auckland, which spans 14,529km, according to the International Air Transport Association. "We're getting close", Joyce told reporters in Perth on Saturday. "The response to the flight has been incredible, both for the attention it's received since we announced it and the bookings we've seen coming in".

Business

Thomas reaches Match Play semifinals, closes in on No. 1 rank

Spieth was totally out of sorts, hitting his opening tee shot onto the range and out-of-bounds. His health improved. So has his golf. If he advances to the championship match on Sunday afternoon, he'll grab hold of the world No. But he couldn't keep up with Thomas - really, who could? - after Thomas was a sizzling 6 under par through 12 holes. "A lot of good play on the back nine", Garcia said of what it took for him to advance out of round-robin play.

Business

China's economic czar tells US Beijing will defend interests

Chinese officials are trying to figure out how to address US concerns, said Jake Parker, vice president for China operations of the U.S. Xi sent his top economic advisor Liu He to Washington this month to discuss trade tensions, but the United States official said that at no point had the Chinese made a constructive proposal.


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