The preliminary Caixin China manufacturing purchasing managers' index (PMI) dropped to 47 for September indicating further alarming situation in the factory output. The PMI was 47.3 in August. Any level below 50 indicates deceleration in the economy activity.

Sep 23, 2015 10:26 PM EDT

President Xi Jinping said in his closing speech in Seattle that China is ready to set up a joint force to combat cyber crimes. He gave this assurance to tech company executives attending a closed-door meeting.

Sep 23, 2015 10:21 PM EDT

Airming to resolve the refugee crisis for European nations, EU has prepared a proposal with quota sharing on 120,000 immigrants among 28 members. Germany and other major nations supported the proposal, while some countries voted against it. However, EU has stated that it'll go ahead with the proposal.

Sep 23, 2015 09:03 AM EDT

Xi Jinping and his wife are visiting the US for a week as the country is trying to strengthen its relationship with the US. During this visit, Xi Jinping will also meet Obama as the two leaders will discuss military policy.

Sep 23, 2015 08:25 AM EDT

The French Constitutional Court rejected Uber's appeal regarding UberPop's case. The court supported the law that was passed last year, implying only professional drivers must render services in the country.

Sep 23, 2015 04:29 AM EDT

2.3 million Indians scramble for 368 low-level government jobs that have tea making and bike riding as qualifications, symbolising the bad condition of India’s job market.

Sep 23, 2015 02:35 AM EDT

Soon after coming back to power for the second time in lthe same year, Alexis Tsipras is making measures that support the third round of euro 86-bn baiklout package. He inducted two baikout negotiators into the government economic team. Barring two parties, remaining all the parties are supporting the bailout package.

Sep 23, 2015 02:26 AM EDT

China President Xi Jinping ahead of his US tour called for punishing the cyber hackers, while making it clear that his government doesn't engage in hacking. Our government wouldn't support Chinese companies engaged in such activity, Jinping said. Meanwhile, US National security advisor issues a warning to China for stopping state-backed cyber theft. The issue of cyber crime is likely to be main topic of disuccsion at the crucial meeting between Obama and Jinping.

Sep 22, 2015 06:18 PM EDT

The drop in oil inventories and shut down in drilling activity for the past 3 weeks have pushed oil prices upwards. Oil crude rose 4.5% to $46.68 per barrel and US Brent price rose $48.91 a barrel on Monday.

Sep 22, 2015 06:13 PM EDT

Four Australian banks have closed down the accounts of 13 bitcoin firms following the stricter norms on anti-money laundering and terrorism finance. The Australian banks have already sent letters to 17 more bitcoin firms stating that their accounts will be closed down.

Sep 22, 2015 10:10 AM EDT

After 10 years of working on the project, the high-speed rail link between Los Angeles and Las Vegas is taking off following the signing of a deal by a group of Chinese firms with XpressWest, a US company. The China President Xi Jinping is visiting the US, during his tour next week, the project will be announced.

Sep 22, 2015 12:00 AM EDT

The US companies engaged in foreign trade and aviation firms find it difficult to run the show following the closure of the US Export-Import Bank (EXIM). This causes non-availability of export financing and loan guarantee for the US companies. As a result, many comapnies are planning to shift out of the US to establish units overseas. Aerospace Industries Association is lobbying with Congress members for revival of EXIM.

Sep 21, 2015 09:50 PM EDT