Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Global statesmen and business titans descended on Indian Prime Minister Narendra Modi's home state on Sunday to pay homage to the man they count on to unleash big-bang reforms and create one of the few bright spots in a troubled world economy.
Big business cheered Modi when he won India's strongest election mandate in 30 years last May, and he has caught its attention with eye-catching initiatives like a 'Make in India' campaign complete with lion logo.
Now, the 64-year-old leader has ramped up the Vibrant Gujarat jamboree he founded as the state's chief minister in 2003, turning it into a pitch to put his nation of 1.25 billion people, most of them poor, firmly on the investment map.
"India is marching forward with a clear vision to become a global power, even as most of the world is struggling with low growth," the country's richest man, Mukesh Ambani, told an audience of hundreds of chief executives and politicians.
U.S. Secretary of State John Kerry led a roll call of leaders, including U.N. Secretary General Ban Ki-moon and World Bank head Jim Yong Kim, converging on Modi's home town of Gandhinagar for the three-day Davos-style bash. President Barack Obama visits India later this month.
Yet, eight months into Modi's rule, the failure of Asia's third-biggest economy to emerge from its longest growth slowdown in a generation is raising questions about how much substance there is behind Modi's promise of "red carpet, not red tape".
His Make in India drive has drawn comparisons with the manufacturing miracle that turned China into the world's second-largest economy, outstripping India's fourfold since 1980.
Sceptics argue that India's competitive strengths are not in making and exporting things, but in areas like information technology and business process outsourcing where it is a world leader.
Vibrant Gujarat, held every two years, has yielded billions of dollars in investment promises but only a fraction of the deals announced has come to fruition.
In keeping with tradition, Ambani said his Reliance Industries conglomerate would invest a huge 1 trillion rupees ($16 billion) in its home state of Gujarat over the next year to 18 months. He gave no details, but Reliance has embarked on major expansion.
"There is an air of optimism in the air of India," said Sam Walsh, CEO of global mining giant Rio Tinto, who flagged two potential projects: a $2 billion iron ore project in Odisha state and an investment in Madhya Pradesh that could employ 30,000 diamond cutters.
Modi needs investors to put their money where their mouths are to lift stagnant capital investment that has held back India's growth to 5.3 percent.
That is expected to accelerate this year to 6.4 percent, said the World Bank's Kim, who called India a "bright spot" in an otherwise gloomy global economic landscape.
That would still be short of the 7-8 percent India needs to create work for the one million people who join the workforce every month.
Modi has made headway on making it easier for outsiders to invest more in real estate, insurance and defence, but a rigid labour market and rotten infrastructure are huge deterrents.
India slipped to 142nd out of 189 in the World Bank's latest Doing Business Index. Modi wants India in the top 50.
"Investors want credibility, stability and at the same time flexibility. Right now, India is a bit of an inflexible market," said Kilbinder Dosanjh, a director for Asia at Eurasia Group, a geopolitical risk consultancy.
Follow us on Twitter: