China hits Alibaba with huge $2.7 billion fine for anti-competitive tactics

BEIJING:  Alibaba Group, the world’s biggest e-commerce company, was fined 18.3 billion yuan (USD 2.8 billion) by Chinese regulators on Saturday for anti-competitive tactics, as the ruling Communist Party tightens…

Asian stocks mixed after Wall St rally on economic optimism

Tokyo: Asian shares were mixed Tuesday after a Wall Street rally that reflected some optimism about the economy recovering from the pandemic. Japan’s benchmark Nikkei 225 lost early gains and fell…

Asian stocks up after Wall St. record amid vaccine optimism

Beijing: Asian stock markets were mostly higher Monday after Wall Street hit a record high on optimism the spread of coronavirus vaccines might allow global business to return to normal. Tokyo…

OCI card holders no longer required to carry old passports for India travel; diaspora welcomes move

Washington/New York: People of Indian origin and the Indian diaspora having Overseas Citizens of India (OCI) cards are now not required to carry their old, expired passports for travel to India,…

Mexico says oil for domestic use, claims big find

Mexico City: Mexican officials said Thursday they have found an oil field with possible reserves of 500 million to 600 million barrels, but President Andr s Manuel L pez Obrador…

US House passes key bills providing citizenship to dreamers, farmworker immigrants

Washington: The US House of Representatives has passed two key bills that would create a pathway to citizenship for millions of undocumented immigrants, some migrant farmworkers and children whose parents immigrated…

Asian shares slip on profit-taking, hopes grow for recovery

Tokyo: Asian shares were mostly lower Wednesday as investors sold to lock in profits from the recent rally driven by hopes economies will gradually return to a pre-pandemic normal. Japan’s…

Asian shares mixed as boost from US stimulus package fades

Hong Kong: Asian shares were mixed Wednesday after a lackluster day on Wall Street, as the boost from President Donald Trumps signing of the coronavirus relief package faded. Benchmarks fell in…

Asian stocks advance after Trump signs $900B aid package

Beijing: Asian stock markets rose Monday after President Donald Trump signed a 900 billion economic aid package, helping to reduce uncertainty as governments re-impose travel and business curbs in response to…

China steps up pressure on Alibaba with anti-monopoly probe

BEIJING: Chinese regulators on Thursday announced an anti-monopoly investigation of e-commerce giant Alibaba Group, stepping up official efforts to tighten control over China’s fast-growing tech industries. The market regulator said…

Asian stocks sink after Wall St hits record on stimulus hope

Beijing: Asian stock markets declined Friday after Wall Street hit a new high on optimism about economic stimulus and coronavirus vaccine development despite a spike in US unemployment claims. Shanghai, Tokyo…

Watchdog raises possible Kushner link to USD 700M rescue loan

Washington:  A congressional monitor of federal pandemic aid is raising the possibility of a link between President Donald Trump’s son-in-law, Jared Kushner, and a USD 700 million relief loan to…

UAE’s Lulu group to set up food processing centre in JK

Dubai: The UAE-based Lulu Group International has announced a plan to set up a food processing centre in Srinagar for sourcing a wide range of agri products from Jammu and Kashmir.…

Asian shares slip on report of more US sanctions on China

Bangkok: Shares were mostly lower in Asia on Monday following a report that the US is preparing to slap sanctions on a dozen more Chinese officials, ratcheting up tensions with Beijing.…

Asian stocks fall amid unease about vaccine development

Beijing: Asian stock markets declined on Friday as questions about the effectiveness of one possible coronavirus vaccine weighed on investor optimism. Benchmarks in Tokyo, Hong Kong, Seoul and Sydney retreated while…

Ford to revamp Detroit book warehouse into innovation hub

Detroit: Ford Motor Co. has revealed plans to transform a long-vacant book warehouse into a hub for automobile innovation in Detroit’s oldest neighbourhood. Corktown, long known for its wood-framed houses, restaurants…

Asian shares rise buoyed by news on coronavirus vaccine

Tokyo: Asian shares rose Tuesday, after the Dow Jones Industrial Average hit a record high on optimism that a vaccine may soon control the coronavirus and the economic destruction it’s caused.…

Nikkei hits 29-year high as vaccine optimism boosts risk appetite

NEW DELHI: Japan’s Nikkei share average closed at a 29-year high on Tuesday as investors cheered news of another potential coronavirus vaccine that re-ignited hopes of a swift global recovery.…

GM recalling nearly 69K Bolt electric cars due to fire risk

DETROIT: General Motors is recalling nearly 69,000 Chevrolet Bolt electric cars worldwide because the batteries have caught fire in five of them. The company says it doesn’t know yet what’s causing…

UK economy saw big bounceback in summer before fresh curbs

LONDON: The British economy bounced back strongly in the third quarter of the year as many of the restrictions associated with the spring lockdown were lifted, official figures showed Thursday.…