Income gap in China

BEIJING: China’s income gap continued to widen in the first quarter of the year with 10 per cent of the nation’s richest enjoying 45 per cent of the country’s wealth. — AFP

US debt deepens

WASHINGTON: US debt to foreigners pushed into uncharted territory as the current account deficit widened in the first quarter to a record $195.1 billion. It was bigger than the $190 billion expected on Wall Street and represented 6.4 per cent of GDP. — AFP

Reliance settlement

MUMBAI: A board meeting of Reliance Industries, India’s largest private business conglomerate, on Saturday approved the formula for the settlement of a lingering ownership row between Ambani brothers. — HNS