Get a jump start to the day on business news today, beginning with the latest in the business world. After the crude oil prices in US rose despite a rally on Wall Street, Asian market also saw a significant rise. Also read the weekly world news where Barack Obama has proposed financial aid of over $1 billion to Pakistan.
Forgot to tune in today’s newspaper? Here are the latest tidbits from the business news today and weekly world news to set your day right again. Grab that steaming mug of coffee and start your day with the daily dose of world happenings.
Most Asian markets witnessed a rise in the crude oil prices after prices in US went through a rebound. The global bench mark, Brent Crude rose more than 3% along with the US standard WTI, in spite of the countrywide strikes at numerous oil refineries in US. Keeping with it, Reserve Bank of Australia also slashed interest rates to offset a fiscal slowdown, for the first time in eighteen months. It led to reduction in borrowing costs to 2.25% and Australian dollar cut down by 1.2%.
RBI stays cautious while investing in overseas debt ventures. Reserve Bank of India said on Tuesday, it will keep the overall investment limit of $30 billion unchanged and also the purchase of short term debts is not allowed. However, the foreign funds will be allowed to reinvest the interest earned from bond coupons of government. The reinvestment of the government bond coupons will free up to $two billion for further purchases.
President Barack Obama proposes over $one billion in military and civil aid to Pakistan. US president said that Pakistan is strategically important and it will receive help to fight terror, develop economically and be safe from nuclear installations. He also said that is important that Pakistan improves ties with India. US has proposed $265 million for foreign military financing, $334.4 million to develop economy, and $143.1 million to counter the terrorism.
European Commission Chief Jean Claude Juncker warns Greece. Jean Claude Juncker said on Tuesday that Brussels will not amend its regulations just to bail out the debt predicament in Athens. On Wednesday, the Prime Minister of Greece, Alexis Tsipras, is scheduled to meet Juncker to talk about the Brussels’ government strategy to trim down its debt and end strictness in course of action.
Britain is first to exhibit green flag to Three-Parent IVF Technique. On Tuesday, Britain voted for the exclusive IVF technique in which mother, father and a female donor will donate genes to the genetically tailored embryos. According to doctors, this technique will help in preventing the incurable diseases among children inherited by their parents. Various religious groups and reviewers have shown strong resistance to this decision. Parliament is yet to vote on the approval of technique which is also called mitochondrial donation. Those who are opposed to this step are seeing this as a step in the direction of making artificial babies.
Tune into weeklydailynews to get the most recent weekly world news and business news today.