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NEW YORK: Oil prices fell Friday as traders booked profits from a strong rally and fretted about lackluster US consumer spending and new unrest in oil-producing

According to the figures released by World Bank for the year 2017 India has emerged as the sixth largest economy by surpassing France. India's GDP worked out to be $2.597 trillion in comparison to France's $2.582 trillion. India's growth was stunted as a result of some of PM Modi's reforms such as demonetization and faulty implementation of new tax regime, Goods and Services Tax. Only last year the economy picked up and the recovery can be gauged by the increased GDP. The comparison with France is lopsided as the population of India is around 1.34 billion, almost twice as that of France's 67 million people. So the per capita income of Indians is 20 times lower than that of France. There is tremendous growth impetus in Manufacturing and Consumer spending that acted as main drivers of the economy in the latter half of the year 2017. India's GDP had doubled within the last decade propelling it as an economic power to reckon with in Asia. International Monetary Fund has projected that India will have a healthy 7.4% growth rate and it may well reach 7.8% by 2019 due to household spending and tax reform. This is far higher than the world's expected average 3.9% growth rate. According to London-based Centre for Economics and Business Research, a consultancy, India may even overtake both Britain and France in terms of GDP by the end of 2018. They predict that India may become the third largest economy by 2032.

Indians have emerged the top foreign property investors in Dubai, spending over $3.2 billion last year alone, according to the Dubai Land Department.

President Donald Trump has reportedly told Defense Secretary Jim Mattis to prepare a $750 billion budget proposal for 2020, according to Politico's Wesley Morgan. This request comes just months after Trump asked every major cabinet agency to submit proposals cutting their budget by 5% next year, according to The Washington Post. Trump said he wanted…

Following is a transcript of the video. With a combined net worth of over half a billion dollars, Gisele Bündchen and Tom Brady are a true power couple. Bündchen was the highest earning model in the world for 10 consecutive years before she retired from the runway in 2015. She's on pace to make a…

The projection by Nasscom that Indian IT exports would grow 7-8 per cent in the current fiscal is realistic and reasonable and reflects the current global business environment, say senior figures in the sector. The numbers put out by the industry body are very realistic because the global IT spending is not going up this year and there are political uncertainties in the US and parts of Europe, two key markets of Indian firms, said T V Mohandas Pai, the former Chief Financial Officer (CFO) of Infosys.