Asian shares advance following rebound on Wall Street

BANGKOK: Shares advanced in Asia early Tuesday after Wall Street shook off a weak start and ended with modest gains thanks to another solid showing from big technology companies. Shares rose…

McDonald’s says 25% of stores closed as 1Q sales fall

WASHINGTON: McDonald’s says it has likely reached the trough of global restaurant closures due to COVID-19, with 25 per cent still shuttered. But business has been slow to return as lockdown…

US jobless claims soar past 30 million; Europe reeling also

LONDON: Duchess of Sussex Meghan Markle on Friday lost the first round of her High Court battle against the publishers of a UK newspaper, which reproduced excerpts of a letter…

Asian shares rise on hopes for drug to treat coronavirus

TOKYO:  Asian shares advanced on Thursday, riding a wave of optimism about a possible treatment for the coronavirus that set off a rally on Wall Street powerful enough to override…

Fed signals it will likely hold rates near zero for months

WASHINGTON: The Federal Reserve signalled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy…

Samsung expects profit decline as pandemic hits sales

SEOUL:  Samsung Electronics Co. said Wednesday its operating profit for the first three months of 2020 rose 3.4% from a year earlier driven by increasing demands for computer chips. However,…

Hope dashed: Asian shares fall after Wall Street loses rally

TOKYO:  Asian shares are lower on Friday after an early rally on Wall Street suddenly vanished, the latest example of how fragile the hopes underpinning the stock market’s monthlong recovery…

Virus pushes US unemployment toward highest since Depression

NEW YORK:  Unemployment in the US is swelling to levels last seen during the Great Depression of the 1930s, with 1 in 6 American workers thrown out of a job…

Stocks steady, oil price recovers as more economic aid due

TOKYO: Global stock markets were steady on Thursday as investors balanced hopes for new financial aid against more evidence of the economic devastation wrought by the pandemic lockdown. The price…

Oil plunges again as virus ravages energy markets

SINGAPORE: Brent crude plunged more than 12 percent to below USD 17 a barrel on Wednesday while US oil erased early gains and fell, as the coronavirus strangles demand and…

US oil rebounds, back in positive territory

SINGAPORE: US oil prices rebounded back above zero on Tuesday, a day after futures ended in negative territory for the first time as a coronavirus-triggered collapse in demand leaves the world…

US to add 75 mn barrels of oil to strategic reserve: Trump

WASHINGTON: President Donald Trump said Monday the US would take advantage of the historic drop in oil prices to buy 75 million barrels to replenish the national strategic stockpile. “We are…

Stock markets soar on coronavirus drug report

LONDON: Global equities surged Friday as reports of encouraging trials for a possible coronavirus drug injected optimism into investors. Asian indices posted healthy gains also as official data showed the fatal…

Trump confirms US-Mexico deal to cut oil production

Washington: President Donald Trump on Friday confirmed the US had agreed to help Mexico meet its commitment to slashing oil production under a global deal to address the petroleum glut. “Mexico…

Coronavirus-driven debt crisis threatens poor countries already at risk, says UN report

United Nations: As governments struggle to cope with the COVID-19 pandemic, billions of people living in countries teetering on the brink of economic collapse are being further threatened by a looming…

Asian equities mostly rise as dealers eye slowing infection rate

Hong Kong: Asian markets were mostly in positive territory Thursday following another strong day for Wall Street as traders buy into optimism that the coronavirus crisis could be nearing its apex,…

Oil rallies as deal takes shape before key meeting

Singapore: Oil prices extended gains Thursday after Russia signalled it was ready to cut output before a key producers’ meeting aimed at boosting energy markets as the coronavirus pandemic strangles demand.…

Asian markets boosted by hopes on virus but oil dips

Hong Kong: Asian markets rose Monday as some of the world’s worst-hit countries reported falling death rates, providing some much-needed hope in the battle against the coronavirus, though oil prices dipped…

Oil prices fall as doubts grow over output cut deal

Singapore: Oil prices fell sharply Monday after a meeting to discuss output cuts between OPEC and its allies was delayed, dimming hopes of swift action to support coronavirus-ravaged energy markets. US…

Apple to ship 1 mn face shields a week for medical workers

San Francisco: Apple has said it will soon be producing one million face shields a week for medical workers battling the coronavirus pandemic. The tech giant had already sourced 20 million…