Chinese currency renminbi is unlikely to supplant the US dollar as the world's reserve currency in the near term, former US Treasury Secretary Lawrence Summers said today.

Malaysian Air Asia's Anthony Fernandez and Middle East-based Indian businessman Yusuf Ali are believed to be exploring possible opportunities to enter the Indian aviation space.

International bankers and finance ministers warned on Saturday that Europe's crisis was not over even though the euro currency is now stabilised, it will take years to overcome economic malaise and mass unemployment in Europe.