Asia markets slip as virus outbreaks mute hopes for rebound

TOKYO: Markets were mostly lower in Asia on Tuesday as expanding coronavirus outbreaks dimmed hopes for a global recovery, despite an overnight rally in tech shares that pushed the Nasdaq composite…

Samsung projects 23% jump in 2Q profit on strong chip sales

SEOUL: Samsung Electronics Co. said Tuesday its operating profit for the last quarter likely rose 23% from the same period last year, helped by robust demand for memory chips used…

Virus-hammered Air France announces 7,500 job cuts

PARIS: Air France and regional subsidiary Hop announced 7,500 job cuts Friday after the virus pandemic grounded most flights and darkened prospects for future air travel. Activists from multiple unions protested…

S Africa halts scrap metal exports as industry hit by coronavirus pandemic

JOHANNESBURG: South Africa has prohibited new exports of ferrous and non-ferrous waste as it seeks measures to support the metals industry which has been severely hit by the COVID-19 pandemic,…

Health experts slam US mass purchase of licensed virus drug

LONDON: Public health experts on Wednesday criticized the US for securing for itself a large supply of the only drug licensed so far to treat COVID-19. The US government announced…

Hinduja brothers in UK High Court over letter dispute

LONDON: The UK-based Hinduja brothers are locked in a legal dispute in the High Court in England over their billionaire family assets, it emerged in a ruling in London. The case…

Asian shares advance, tracking Wall Street tech rally

TOKYO: Asian shares were mostly higher on Tuesday, recovering from some early losses as regional markets tracked a late rally on Wall Street led by technology shares. Japan’s benchmark Nikkei 225…

Money-losing Mitsubishi says executives will take pay cuts

TOKYO: Mitsubishi Motors told its shareholders on Thursday that its top executives are taking pay cuts to share responsibility for the Japanese automaker’s financial losses. “I hope we can gain your…

India 9th largest recipient of FDI in 2019, will continue to attract investments: UN

UNITED NATIONS: India received USD 51 billion in foreign investment in 2019 and was the world’s 9th largest recipient of foreign direct investments (FDI) in 2019, according to a report by…

Japan’s exports, imports sank in May amid pandemic fallout

TOKYO: Japan’s exports sank 28% in May, while imports dropped 26% as the coronavirus pandemic slammed global trade. The provisional Ministry of Finance data, released Wednesday, showed May was the second…

Asian shares fall on fears virus outbreaks are rebounding

TOKYO: Shares were mostly lower in Asia on Monday on concern over a resurgence of coronavirus cases and pessimism after Wall Street posted its worst week in nearly three months. Benchmarks…

Pandemic leads to a bicycle boom, and shortage, around world

PORTLAND(US): Fitness junkies locked out of gyms, commuters fearful of public transit, and families going stir crazy inside their homes during the coronavirus pandemic have created a boom in bicycle sales…

UK economy shrinks 20.4% during April lockdown

LONDON: Official figures show that the British economy shrank by a colossal 20.4% in April, the first full month that the country was in its coronavirus lockdown. The Office for National…

Dow sinks 1,800 as virus cases rise, deflating optimism

NEW YORK: Stocks fell sharply Thursday on Wall Street as coronavirus cases in the US increased again, deflating recent optimism for a quick economic recovery and raising more doubts about how…

Indonesian capital’s reopening triggers concerns of 2nd wave

JAKARTA: Eva Rahmi Salama worries that authorities in Jakarta, Indonesia’s sprawling capital, are acting too soon to lift restrictions put in place two months ago to fight the spread of…

CBO projects virus impact could trim GDP by $15.7 trillion

WASHINGTON: The Congressional Budget Office said Monday that the U.S. economy could be 15.7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate…

Infosys among UK firms accessing Rishi Sunak’s Covid-19 job saving scheme

LONDON: Indian software major Infosys is among the many UK companies to benefit from UK Chancellor Rishi Sunak’s Coronavirus Job Retention Scheme, it emerged on Sunday. Infosys, co-founded by Sunak’s father-in-law…

Trump postpones G7 summit, wants India, others to join group

WASHINGTON: US President Donald Trump on Saturday postponed the “outdated” Group of Seven summit that he planned to hold in June at the White House, seeking inclusion of India and some…

History in the making: SpaceX propels two NASA astronauts into orbit

WASHINGTON: A rocket ship built by Elon Musk’s SpaceX company on Saturday successfully blasted off with two NASA astronauts into orbit from the US state of Florida on their way…

Three Indian companies get licence to manufacture NASA’s coronavirus ventilators

WASHINGTON: Three Indian companies have got licenses from NASA to manufacture its indigenously developed ventilators for critical COVID-19 patients. The three Indian companies are Alpha Design Technologies Pvt Ltd, Bharat…