World Business News

MUMBAI: Close on the heels of becoming the world's largest seller of smartphones, Korean major Samsung has overtaken its Finnish rival Nokia to become the leader in the domestic market as well. This is the first time that Samsung's share - both in volume and value terms - exceeded that of its rival, Nokia, which had the leadership position till now.

India and Japan have signed a $15bn (£9.7bn) currency swap agreement as the two nations seek to boost financial co-operation.

It will see them swap currencies for US dollars and tap into each other's foreign exchange reserves to ease any liquidity problems.

Tech Mahindra, India's fifth largest software services firm, reported a 60 percent rise in net profit for the quarter to end-September, but cautioned on falling European spending, adding lower revenue from its top client hit margins.

Washington has started building its segment of the West Coast Electric Highway, a series of electric-charging stations that will extend along I-5 from the bottom of California to the top of Washington. Officials celebrated the ground breaking for the state’s first public DC fast-charging station in Bellingham, Wash., on Wednesday.