Trump signs USD 2 trillion coronavirus stimulus bill, tells Americans ‘help is on the way’

Washington: US President Donald Trump has signed into law the historic USD 2 trillion rescue package, setting in motion a desperately needed financial relief for millions of Americans and secure the…

World has entered recession, says IMF

Washington: The world is in the face of a devastating impact due to the coronavirus pandemic and has clearly entered a recession, the International Monetary Fund said on Friday, but projected…

Stock markets retreat as nervous investors pocket week’s gains

London: Stock markets on both sides of the Atlantic retreated Friday as investors banked profits from the week’s rally sparked by massive government and central bank action to protect economies from…

Coronavirus pushes Zimbabwe to re-introduce use of US dollar

Harare: Zimbabwe has re-introduced the use of foreign currency for domestic transactions in what was seen as a bid to tap into private forex savings as the country gears up for…

EU leaders give Eurogroup two weeks for virus response

Brussels: EU leaders on Thursday gave the finance ministers of the 19-member eurozone single currency bloc two weeks to come up with a strong economic response to the coronavirus crisis. The…

Asia markets mixed as US lawmakers debate stimulus

Hong Kong: Asian markets mostly rose or clawed back early losses Thursday as investors breathed a sigh of relief that US senators have finally passed a gargantuan stimulus package for the…

Oil prices rally on hopes for US stimulus

Singapore: Oil prices rallied in Asia Wednesday on signs the US Congress was nearing an agreement on a massive stimulus package to help the coronavirus-ravaged American economy, tracking record Wall Street…

App Annie Announces Global and Asian Top Publishers of 2020

SINGAPORE: App Annie, the mobile data and analytics company helping companies win on mobile, today announced its annual Top Publisher Award winners, recognizing the most innovative and successful publishers around…

Private, online and hi-tech: the coronavirus economy

Hong Kong: The coronavirus pandemic has sent stock markets into freefall and industries to the wall, however many firms enabling more private, online and tech-based living are emerging as potential…

S&P warns 1 in 10 US firms may default on debt

Paris: A wave of company defaults is likely to sweep the United States and Europe as measures to contain the coronavirus spark a recession, S&P Global Ratings said Friday. The…

Asia stocks dive, dollar soars as ECB bazooka fails to ease fears

Hong Kong: Asian equities sank again Thursday while the dollar surged as a European Central Bank plan to spend more than USD 800 billion to buy bonds failed to instil…

Saudi Arabia to slash spending by 5% as oil prices fall

Dubai: Saudi Arabia said the government will cut spending by 5%, or about 13.3 billion, to offset the impact of plunging oil prices and the effects of the new coronavirus…

Global stocks sink after Trump promises virus aid

Beijing: Global stock markets sank Wednesday in a third day of wild price swings after President Donald Trump promised aid to get the US economy through the coronavirus outbreak. London…

Oil prices resume losses as morning rally loses legs

Singapore: Oil prices fell Wednesday, as concerns about the rapidly spreading coronavirus pandemic and an escalating price war eclipsed pledges by major economies to launch stimulus measures. Both main contracts…

ZTE to launch new smartphone Axon 11 5G on March 23

SHENZHEN, China: ZTE Corporation (0763.HK/000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, today announced that it will launch its new 5G smartphone…

Massive stimulus pledges give traders some respite from virus woe

Hong Kong: Asian markets on Wednesday cheered global stimulus pledges to support economies ravaged by the coronavirus, including a more than 1 trillion package flagged by the United States. With…

Amazon prioritizes medical supplies, staples for delivery

San Francisco: Amazon has made a priority of medical supplies and household staples, putting shipments of other goods on hold to focus on key items during the coronavirus outbreak. “We…

Asian stock markets, US futures sink after Fed’s rate cut

Beijing: Asian stock markets and U.S. futures fell Monday after the Federal Reserve slashed its key interest rate to shore up economic growth in the face of mounting global anti-virus…

US providers offer free Wi-Fi for 60 days

Boston: US internet and wireless providers have announced temporary measures to make getting online less expensive and onerous as enforced social distancing due to the new coronavirus forces more human…

Chinese billionaire Jack Ma offers US virus test kits, masks

Beijing: Chinese billionaire businessman Jack Ma on Friday offered the United States 500,000 coronavirus test kits and a million masks, as the country faces a shortage of kits for diagnosing…