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economic data helped soothe fears of a recession in the world's largest economy. On Wall Street, stocks extended their biggest weekly percentage gains of the year. The Dow Jones Industrial Average finished up about 0.25% — bringing its weekly gain to 2.7% — while the S&P 500 and Nasdaq Composite both increased 0.2%; they were up about 3.7% and 5% on the week, respectively.

equity instruments of a local company in exchange for those of a foreign firm in a significant rejig of foreign investment norms. Investments by an overseas citizen of India (OCI) on a non-repatriation basis would not be counted as indirect foreign investment, as per the changes, which were announced late on Friday. The amendments in the Foreign Exchange Management (Non-debt Instruments) Rules follow the budget pledge by finance minister Nirmala Sitharaman to simplify overseas investment rules. The latest changes have aligned the provisions governing downstream investments by overseas citizens of India with those for non-residents. This, experts said, would encourage greater participation of NRIs in the country's economy. Easier share swap rules will «facilitate global expansion of Indian companies through mergers, acquisitions, and other strategic initiatives», the finance ministry said. The government also clarified that transfer of all shares in companies having foreign direct investment (FDI) from countries sharing land borders with India would require prior nod irrespective of the sector.

Kamala Harris announced a sweeping set of economic proposals on Friday meant to cut taxes and lower the cost of groceries, housing and other essentials for many Americans. «Look, the bills add up,» she declared, trying to address the financial concerns that are at the top of voters' minds and that Republican Donald Trump is attempting to blame on her. During a speech in the battleground state of North Carolina, Harris said that «building up the middle class will be a defining goal of my presidency» as she promoted her plan for a federal ban on price gouging by food producers and grocers. She also proposed $25,000 in down payment assistance for certain first-time homebuyers and tax incentives for builders of starter homes.

U.S. stocks drifted higher as Wall Street coasted to the close of its best week since November

A surge in optimism by Democrats over the prospects of Vice President Kamala Harris lifted U.S. consumer sentiment slightly this month

Vice President Kamala Harris is promoting a broad set of economic proposals that would offer new tax breaks and lower the cost of living for Americans

A rally that put stocks on track for their best week in 2024 lost steam on Friday, with traders assessing the latest economic data for clues on the outlook for Federal Reserve policy.

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Japanese stocks are leading gains in world markets after Wall Street close to its record heights as data showed the U.S. economy is holding up better than expected

As conflict casts a shadow across the Middle East, people are getting rich in Dubai

mpox cases are now being reported outside Africa too. Sweden has confirmed its first case of mpox on Thursday just as Pakistan reported three cases. China's customs administration said it will monitor people and goods entering the country for mpox for the next six months. Danish drugmaker Bavarian Nordic said Thursday it was ready to produce up to 10 million doses of its vaccine targeting mpox by 2025, The WHO’s declaration of mpox as a global health emergency aims at galvanizing action and resources to mitigate the spread of the virus.

Immigration tops the list of issues that Britons consider most important for the first time since 2016 — when Britain voted to leave the European Union — following riots this month targeting Muslims and migrants, pollster Ipsos said on Friday. Just over a third of Britons (34%) named immigration as the biggest issue, ahead of healthcare, on 30%, the economy on 29%, crime on 25% and inflation on 20%, the August edition of the monthly Ipsos Issues Index showed. For 11% of those polled race relations was the top issue.

The promising project, Mira Coral Bay consists of diverse properties created in partnership with several renowned lifestyle brands. The collaboration with Mira Developments displays a key achievement for Marjan’s subsidiary, the RAK Dredging Company, as it transforms Al Mairid into a distinctive destination with top-tier infrastructure, supporting Ras Al Khaimah’s ambition to become a premier tourism and investment hub in the region. Talking about the project, Arch.

Nikkei share average climbed nearly 3% on Friday and notched its best week in more than four years, as strong U.S. retail sales data soothed fears of a recession in the world's largest economy and Japan's top trading partner. The Nikkei closed 3.6% higher at 38,062.67, locking in its second-largest daily gain for the year, while the broader Topix finished up about 3% at 2,678.60.

BEIJING — China's financial risks have dropped, including from local government debt, People's Bank of China Governor Pan Gongsheng said in state media interviews published late Thursday.

Donald Trump said Thursday he thinks he's «entitled to personal attacks» on his Democratic rival, adding he's «very angry» at Vice President Kamala Harris and questioning her intelligence. Trump was asked during a news conference whether his campaign needs more discipline as he faces a Democratic ticket newly energized since Harris replaced President Joe Biden as the party's presidential candidate. «As far as the personal attacks, I'm very angry at her because of what she's done to the country. I'm very angry at her that she would weaponize the justice system against me and other people, very angry at her. I think I'm entitled to personal attacks,» Trump said at his New Jersey golf club, where he invited reporters in his quest to saddle Harris with Biden's unpopular economic record.

FMCG) and consumption-related shares, with global macroeconomic volatility in the shape of weak US economic data, a declining Yen, and rising geopolitical tensions dulling the allure of growth and momentum stocks. However, money managers and analysts see limited short-term upside for FMCG stocks due to high valuations but recommend existing investors hold them for the long term. «The current outperformance of FMCG stocks can be attributed to the strengthening rural economy and investors gravitating towards defensive stocks amid global uncertainties and high valuations in many other sectors,» said George Thomas, equity fund manager at Quantum AMC.

Americans stepped up spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates

The number of Americans applying for unemployment benefits fell last week, another sign that the job market remains resilient in the face of high interest rates

recession concerns, fueling a rally in stocks and sending bonds tumbling. Equity benchmarks in Japan climbed over 2% at the open, while shares in Australia increased alongside those in South Korea. US futures contracts edged higher after the S&P 500 and tech-heavy Nasdaq 100 both rose, as retail sales data beat estimates and jobless claims hit the lowest since early July.

Vice President Kamala Harris is zeroing in on high food prices as her campaign previews an economic policy speech coming up in North Carolina