Standard Chartered has reported a drop in profits after it wrote off $1bn (£650m) from the value of its Korean business. The bank said pre-tax profit fell almost 16% to $3.3bn in the six months to the end of June, compared to $3.9bn for the same period a year ago. The...
UK Asset Resolution (UKAR), the government-owned company incorporating Northern Rock (Asset Management) and Bradford & Bingley, paid back £1.9bn to taxpayers in the first half of 2013. It said the amount included £1.3bn of loan repayments in the first half of...
New Zealand's government has stepped up efforts to contain the fallout from a scare over contaminated products made by dairy giant Fonterra. Officials have been sent to Fonterra facilities in New Zealand and Australia to oversee the flow of information. Fonterra said...
India has eased key rules on foreign direct investment in multi-brand retail in an attempt to attract foreign firms as it looks to boost economic growth. Rules governing sourcing of products, infrastructure investment and selection of cities have been relaxed. India...
In a field in India's western desert state of Rajasthan, row after row of trees covered in lush, green leaves stretch into the distance as the sun beams down from a pale blue sky. A farm worker kneels down and fights off the wind to grab hold of a thin branch with a...
South Korean firm Posco says it has scrapped a proposed steel project in the Indian state of Karnataka after delays and local opposition. The company said it had dropped the $5.3bn (£3.5bn) project in the state's Gadag area after protests against the acquisition of...
The mining scandal which led to the unseating of a prominent leader in India's southern state of Karnataka is the latest scandal to hit the industry. BS Yeddyurappa of India's main opposition Bharatiya Janata Party (BJP) quit recently after an anti-corruption report...
Mining firms have criticised the Indian government's decision to make them pay more tax to help develop tribal areas affected by the Maoist uprising. Various trade associations have denounced the bill, under which firms will pay up to 26% more tax on profits. The new...
India's economy has seen a sharp downturn over the past year, with the manufacturing sector being hit hard. Yet the slowdown has also affected ordinary people in India who are trying to cope with high prices even as incomes and job prospects have taken a hit. India...
Walter Smith is urging Rangers fans to support boardroom changes after he stepped down as chairman at Ibrox. The former manager referred to a "highly-dysfunctional environment" at board level. And he wants the general meeting of shareholders that was requested last...