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(MENAFN - AFP) India on Saturday invited bids for a $2.4-billion artillery deal while deferring a decision on acquiring 106 Swiss Pilatus aircraft for fighter pilot training.

The bid for 814 mounted guns is the first big artillery tender in nearly three decades since the scandal-hit Swedish Bofors guns deal in 1987.

The Defence Acquisition Council, which clears high-value ...

 
(MENAFN - AFP) A US judge signed off on Apple's $450 million legal deal to compensate consumers harmed by an illegal price-fixing conspiracy for electronic books.

The settlement negotiated to avoid trial in the civil case brought by authorities in 33 states calls on Apple to reimburse consumers to the tune of about $400 million and then pay legal costs and fees.

The ...

 
(MENAFN - AFP) The Bank of England has opened a formal investigation into the possible manipulation of money-market auctions held at the start of the financial crisis and whether its officials were involved, the Financial Times reported on Saturday.

The months-old probe is being conducted by the lawyer who led the Bank's investigation into the rigging of forex markets, Anthony ...

 
(MENAFN - AFP) Egypt will offer a slew of projects to domestic and foreign investors at a conference in March aimed at kick-starting an economy battered by years of political unrest, the prime minister said Saturday.

Falling tourist revenues and slowing investments have left Egypt's economy in ruins after nearly four years of turmoil that saw two presidents ousted following ...

 
(MENAFN - AFP) The Royal Bank of Scotland has accepted that it got its sums wrong over the European Banking Authority stress tests last month.

Revised figures revealed Friday showed that instead of passing the test easily as initial results from the exercise showed, the state-owned RBS had narrowly scraped through and was the weakest performer among Britain's banks.

The ...

 
(MENAFN - AFP) US stocks barreled to fresh records Friday, easily eclipsing prior peaks following China's surprise interest-rate cut.

The Dow Jones Industrial Average jumped 91.06 points (0.51 percent) to 17,810.06, posting its second straight record close.

The broad-based S&P 500 gained 10.75 (0.52 percent) to 2,063.50, while the tech-rich Nasdaq Composite Index ...

 
(MENAFN - AFP) Brazil's stock market soared Friday, adding 5.02 percent amid expectations that President Dilma Rousseff is ready to appoint a pro-market new finance minister to kickstart a sagging economy.

Embarking on a second term following her re-election last month, Rousseff faces a battle to win over the financial world with the economy in recession amid feeble growth ...

 
(MENAFN - AFP) European Central Bank President Mario Draghi said Friday that the ECB is ready to ramp up its contested asset purchases "without any undue delay."

"We will use all means available to us, within our mandate, to return inflation towards our objective -– and without any undue delay," Draghi told a banking congress.

"We would step up the pressure and broaden ...

 
(MENAFN - AFP) Russia is considering cutting its oil production in a bid to revive prices, energy minister Alexander Novak said Friday as the falling price of crude along with Western sanctions over Ukraine have led to the ruble plunging in value.

"Is Russia ready to lower production to support prices This question needs to be looked into carefully since the budget is strongly ...

 
(MENAFN - AFP) The Dutch authorities on Saturday ordered the preventative cull of 8,000 ducks amid fears that a bird flu outbreak could spread to the country's poultry heartland.

"In Barneveld 8,000 ducks will be culled as a precautionary measure," the economics ministry said in a statement after the highly pathogenic H5N8 strain was confirmed on two other farms near The ...

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