ECONOMICS

a Two largest dark web marketplaces shut down
Two of the largest dark web marketplaces have been shut down following a "landmark" international law enforcement investigation, BBC report. The AlphaBay and Hansa sites had been associated with the trade in illicit items such as drugs, weapons, malware and stolen data. According to Europol, there were more than 250,000 listings for illegal drugs and toxic chemicals on AlphaBay. Hansa was..
a Brexit hits company investment plans
Chancellor Philip Hammond has told the BBC's Andrew Marr Show that businesses are holding off from investing in the UK because of uncertainty about Brexit, BBC report. "It is absolutely clear businesses where they have discretion over investment, where they can hold off, are doing so - you can understand why. "They are waiting for more clarity about what the future relationship with Europe..
a Trump : UK-US trade deal to happen quickly
US President Donald Trump has said he expects a trade deal with the UK to be completed "very, very quickly", BBC report. Speaking at the G20 summit in Hamburg, he also said he will come to London. The US president is holding one-to-one talks with UK Prime Minister Theresa May shortly to discuss a post-Brexit trade deal. It is one of a series of one-to-one meetings with world leaders which..
a US jobs growth faster
US employment rose by more than expected last month, but wage growth remained subdued, latest figures show.The economy added 222,000 jobs in June, the US Department of Labor said, and job creation in April and May was higher than previously estimated. However, despite the job gains and a low 4.4% unemployment rate, wage growth remained tepid. Average wages rose 2.5% year-on-year, which..
a France to ban sale of petrol and diesel vehicles by 2040
France is set to ban the sale of any car that uses petrol or diesel fuel by 2040, in what the ecology minister called a "revolution", BBC report. Nicolas Hulot announced the planned ban on fossil fuel vehicles as part of a renewed commitment to the Paris climate deal. He said France planned to become carbon neutral by 2050. Hybrid cars make up about 3.5% of the French market, with pure..
a Emirates flights : Laptop ban lifted
The Emirates airline has said the cabin ban on laptops no longer applies on its flights to the United States, BBC report. In March, the US banned cabin laptops and other large electronic devices to and from eight mostly Muslim nations, fearing bombs may be concealed in them. An Emirates spokeswoman said it had worked with US authorities to meet the requirements of the new security guidelines..
a Samsung reuses Galaxy Note 7 parts for new phone
Samsung is releasing a new phone using parts from its Galaxy Note 7, which was axed after a battery fault led to some devices catching fire, BBC report. The firm said the Note Fan Edition would "minimise the environmental impact" of its high-profile flop. The handset will go on sale only in South Korea on 7 July, with a safer, smaller battery, the firm added. Samsung stopped production on..
a Nepal Oil Corporation decreases price of petroleum products
The Nepal Oil Corporation has slashed the prices of the petroleum products. The reduction would be effective from midnight, THT report. The Corporation has reduced Rs 2 per litre in petrol, diesel and kerosene each, as per the new price index sent by the Indian Oil Corporation.   Likewise, NOC Spokesperson Sitaram Pokharel was quoted in the Rastriya Samachar Samiti as saying, the price of..
a Iran to sign gas deal with France
Iran says French energy giant Total is to sign a contract worth close to $5bn (£3.8bn) to develop an offshore gas field in the Gulf, BBC report. It is the biggest foreign deal since most economic sanctions against the country were lifted in 2016. Oil ministry officials said the deal to develop the South Pars gas field would be signed on Monday in Tehran, with Total getting a 50.1%..
a Google fined 2.42bn euros
Google has been fined 2.42bn euros ($2.7bn; £2.1bn) by the European Commission after it ruled the company had abused its power by promoting its own shopping comparison service at the top of search results, BBC report. The amount is the regulator's largest penalty to date against a company accused of distorting the market. The ruling also orders Google to end its anti-competitive practices..
a Nepal govt to shut down National Trading Ltd
After repeated failed attempts to turn it around and pouring in billions of rupees over the years to keep it afloat, the government has finally decided to cut the lifeline of National Trading Ltd, THT report.   Stating that NTL had been incurring losses since many years and was only drilling a bigger hole in state coffers, the government had also introduced the ‘voluntary..
a AIIB promises huge investments in Nepal
The Asian Infrastructure Investment Bank is set to invest hugely in Nepal’s six projects mainly in road infrastructure and hydro power projects, THT report. The AIIB, meeting with the Nepali delegation headed by Finance Minster Gyanendra Bahadur Karki was held in Jeju of South Korea on June 16-18, pledged to invest heavily in the Nepal’s infrastructure development and the Kathmandu..
A petrol pump attendant (L) puts petrol priced at Rs 99 per litre into a car at a Sajha Petrol gas station in Kathmandu, Nepal, January 27, 2016. A dramatic drop in oil prices, driven down by a glut in supply, is translating into a mixed bag for motorists. All countries have access to the same oil prices on international markets, but retail prices vary wildly, largely because of taxes and subsidies. Reuters Petroleum products price becomes cheaper in Nepal
The Nepal Oil Corporation (NOC) has finally slashed price of petroleum products —almost six months after the last revision, which was made on December 19, THT report. Sitaram Pokharel, spokesperson for NOC, informed that prices of petrol, diesel and kerosene have been cut by Rs 1.5 per litre each effective from Saturday. After the adjustment in price, petrol will cost Rs 100 per litre while..
a Nepal government presents budget for FY 2017/18 at the Parliament
Finance Minister Krishna Bahadur Mahara presented the annual estimate of income and expenditure for the upcoming fiscal year 2017/18 at the Legislature-Parliament on Monday, according to THT. The government unveiled the budget of Rs 1, 278 billion of which Rs 804 billion as recurrent expenditure, Rs 335 billion as capital expenditure and Rs 140 billion as financing provision for the coming..
a British Airways to resume most UK flights
British Airways says it is aiming to run a "near normal schedule" at Gatwick and the "majority of services" from Heathrow on Sunday after a "major" IT failure saw all flights cancelled, BBC report. Serious problems with BA's systems led to thousands of passengers having their plans disrupted on Saturday. Passengers described "chaotic" scenes at the airports, with some criticising BA for a..
a Hyundai and Kia Motors ordered to recall 240,000 cars
The South Korean government has ordered carmakers Hyundai and Kia Motors to recall about 240,000 cars, after a tip off from a whistleblower, BBC report. The ex-Hyundai employee raised concern about defects which affected 12 different car models. It is the first time the country's government has issued a compulsory vehicle recall. Hyundai and Kia had refused to act voluntarily, saying any..
a UK will not pay a €100bn “divorce bill” to leave the EU
The UK will not pay a €100bn (£85bn) "divorce bill" to leave the EU, Brexit Secretary David Davis has insisted, according to BBC. He told ITV's Good Morning Britain the UK would pay what was legally due, "not just what the EU wants". It comes amid claims by the Financial Times that the financial settlement sought by the EU has risen from €60bn. Mr Davis said the UK treated its EU..
a US budget : Lawmakers reach $ 1 trillion budget deal
Congressional negotiators have reached an agreement on a spending bill to keep the US government running until 30 September, BBC report. The bipartisan deal boosts military spending but does not include funding for President Donald Trump's proposed wall on the Mexico border. The reported $1 trillion deal (£770bn) needs to be approved by lawmakers. On Friday Congress approved a stop-gap..
a Bollywood actor Vinod Khanna dies
One of India's most well-known Bollywood actors Vinod Khanna has died aged 70, his hospital has confirmed, BBC report. Khanna, also an active politician, had been suffering from cancer and was admitted to hospital earlier this month as his illness became more serious. He acted in more than 100 Bollywood films and was widely seen as a counterfoil to the "angry young man" played by Amitabh..
a Donald Trump seeks to slash tax for businesses
President Donald Trump is to propose slashing the rate of corporation tax when he announces his tax plan later, BBC report. White House officials say the centrepiece of Wednesday's announcement will be a sharp reduction in the business tax rate, from 35% to 15%. Economists say the tax cuts will add trillions of dollars to the deficit over the next decade. But Treasury Secretary Steven..