China to raise retail fuel prices

China to raise retail fuel pricesBeijing, Sep 14 - China's gasoline and diesel retail prices will be raised Saturday, the country's top economic planner said.

The benchmark retail prices of gasoline and diesel will rise by 0.07 yuan (1.1 cent) per litre, the National Development and Reform Commission (NDRC) said Friday in a statement on its website, reports Xinhua.

The new price represents an increase of 90 yuan and 85 yuan per tonne for gasoline and diesel prices, respectively, said the NDRC.

This is the third time the prices have been hiked in two months.

FCA imposes £1.8 million fine on AXA

FCA imposes £1.8 million fine on AXA Financial industry watchdog, the Financial Conduct Authority (FCA) has imposed a fine of £1.8 million for failing to treat its customers in an appropriate manner.

FCA said that the advisers at AXA Wealth Services sold £440 million of investment products without explaining the risks or assessing if the products were suitable for the customers. AXA has a total of 201 sales advisers operating out of branches of Clydesdale and Yorkshire banks besides 23 at the separate West Bromwich Building Society.

UK to launch bank account switching service on Monday

UK to launch bank account switching service on MondayThe authorities in the UK are planning to launch the new Current Account Switch Service allowing customers to move their accounts to their preferred bank easily.

Experts say that the customers in the UK who were unhappy with their bank services were not opting to switch because of the long processes but the new service will allow the customers to easily swap banks. Customers will just have to provide their preferred lender with personal details and the bank will make all the arrangements to bring across salary deposits and bill payments.

Sri Lankan economy grows

Sri Lankan economy growsColombo, Sep 14 - Sri Lanka's economy grew by 6.8 percent in the second quarter of 2013, improving from a 6 percent growth in the first quarter of the year, the state-run Census and Statistics Department said in its latest report.

However, the agriculture sector, which has the highest employment in the economy, recorded a negative 1.1 percent growth in the second quarter.

Industry and services sectors recorded 10.1 percent and 6.6 percent growth respectively in the same period, the department said.

Aviation plays major role in national economy: IATA

Aviation plays major role in national economy: IATABucharest, Sep 14 - Aviation in eastern Europe has created a lot of jobs and made a great contribution to the countries' national gross domestic product (GDP), the chief of the International Air Transport Association (IATA) said here.

IATA Director General Tony Tyler made the remarks Friday on the Eastern European Aviation Day, Xinhua reported.

The event attended by over 150 representatives from the aviation sector focussed on identifying key areas of potential in the sector in the region.

Rowling makes screen-writing debut

Los Angeles, Sep 14 - JK Rowling, author of "Harry Potter" series, will make her screen-writing debut with "Fantastic Beasts and Where to Find Them".

The films will be inspired from her popular "Harry Potter" series, reported eonline. com.

"The films will be inspired by Harry Potter's Hogwarts textbook of the same name, and will feature the book's fictitious author, Newt Scamander," Rowling wrote on her Facebook page Thursday.

The 48-year-old went on to explain that the new movie won't be a prequel or a sequel to the "Harry Potter" story. It is an "extension of the wizarding world", she said.

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