India's small and medium-sized generic drugmakers say the threat of tougher rules and higher barriers for outsiders in the U.S. healthcare market will force many to find a niche or focus their expansion efforts on other countries.
The markets might not have been pricing in a U.S. interest rate rise this month, U.S. economic data is maintaining its consistent strength and the Federal Reserve is maintaining its public intention towards raising U.S. interest rates around three times in 2017.
Iraq's Kurdistan has agreed on new deals to borrow $3 billion from trading houses and Russian state oil firm Rosneft that will be guaranteed by future oil sales to strengthen its fiscal position as the semi-autonomous region fights Islamic State.
Dubai Imposes a 5% Import Duty on Gold Jewelry/ET Markets-Ghosal: Dubai has imposed a 5% import duty on gold and diamond jewelry, a move which is likely to hurt Indian exports at a time when demonetization has hit business at home. The war on cash takes another step forward in Dubai. The new levy may, however, boost bridal jewelry sales in India because many Indian shoppers had turned to Dubai owing to the cheaper gold there and the price difference may no longer be attractive enough. Read more here.
India's central bank unexpectedly kept its key policy rate unchanged at 6.25 % on Wednesday, despite calls for action in the face of an intense cash shortage that threatens to slam the brakes on the world's fastest-growing large economy.
There is growing evidence that not only is the global crude oil market back in balance, but there is a strong possibility that global demand is already outstripping daily oil output. Another big drop in U.S. oil inventory, the 6th in 7 weeks, and a 6.7 GDP reading in China adds more weight to the global oil supply versus daily production argument.