Category: BUsiness

Bitcoin falls 30 percent, posts worst week since 2013

Bitcoin falls 30 percent, posts worst week since 2013

NEW YORK/LONDON (Reuters) – Bitcoin plunged by 30 percent to below $12,000 on Friday as investors dumped the cryptocurrency after its sharp rise to a peak close to $20,000 prompted warnings by experts of...

Japan’s Sumitomo, Jindal Steel among 8 bidders for India rails tender: source

Japan’s Sumitomo, Jindal Steel among 8 bidders for India rails tender: source

NEW DELHI (Reuters) – Japanese trader Sumitomo Corp and India’s Jindal Steel and Power Ltd are among eight bidders competing for Indian Railways’ first global tender to supply 487,000 tonnes of rails, a government...

Modi’s office urges use of Indian products after rails controversy

Modi’s office urges use of Indian products after rails controversy

NEW DELHI (Reuters) – Prime Minister Narendra Modi’s office has asked all government departments to prioritise the use of local products in state projects, after domestic companies objected to a global tender by the...

Special Report: Ex-banker cheerleads his way to cryptocurrency riches

Special Report: Ex-banker cheerleads his way to cryptocurrency riches

HONG KONG/NEW YORK/LONDON (Reuters) – Seventeen months ago, a former Wall Street investment banker who specialized in distressed assets took to Twitter to announce he had bought a cryptocurrency for 50 cents per coin....

Boeing seen eyeing broad Embraer deal, but no firm proposal made

Boeing seen eyeing broad Embraer deal, but no firm proposal made

PARIS (Reuters) – Boeing Co is eyeing a broad partnership with Embraer reaching beyond commercial aircraft to defence and global services, but its shape hinges on talks with the Brazilian government.

Iraq aims to increase Nasiriya oilfield output to 200,000 bpd

Iraq aims to increase Nasiriya oilfield output to 200,000 bpd

BAGHDAD (Reuters) – Iraq plans to increase production from its Nasiriya oilfield to 200,000 barrels per day from 90,000 bpd in the next few years without seeking assistance from international firms, the oil ministry...

An investor’s best friend: China’s booming pet market sparks deals

An investor’s best friend: China’s booming pet market sparks deals

PINGYANG, China/SHANGHAI (Reuters) – Li Mingjie is a pet industry investor’s dream. The 23-year-old e-commerce worker spares little expense to make his pooch happy.