India’s gloomy outlook darkens, recovery path in doubt
BENGALURU: The outlook for India’s reeling economy has worsened again as business activity slows and Covid-19 infections soar, and will probably prompt...
Goldman hikes 12-month gold price forecast to $2,300
Goldman Sachs on Tuesday raised its 12-month gold price forecast to $2,300 per troy ounce, aided by expectations of more downside in...
McDonald’s global sales suffer as Covid-19 lockdowns limit operations
McDonald’s Corp on Tuesday reported a broad drop in global same-store sales and missed profit expectations, as its restaurants were shut due...
Saudi Arabia posts $29bn deficit in second quarter as oil revenues slump
DUBAI: Saudi Arabia posted a deficit of 109.2 billion riyals ($29.12 billion) in the second quarter this year as low oil prices...
Intel ousts its chief engineer, shakes up technical group after delays
Intel Corp's Chief Engineering Officer Murthy Renduchintala is departing, part of a move in which a key technology unit will be separated...
Alibaba, Jack Ma summoned by Indian court over ex-employee’s lawsuit
The case comes weeks after India cited security concerns in banning Alibaba’s UC News, UC Browser and 57 other Chinese apps after a border clash between the two countries’ forces
Oil up on weak dollar though US-China tensions, virus weigh
SINGAPORE/LONDON: Oil prices edged higher on Monday helped by a weak dollar and expected US stimulus measures but gains were capped by...
US new home sales shine in June; business activity picks up
WASHINGTON: Sales of new US single-family homes raced to a near 13-year high in June as the housing market outperforms the broader...
India’s budget deficit may reach 7pc of GDP
NEW DELHI: India is likely to miss its budget estimates as the coronavirus crisis strains government's finances, a top government official said.
"This...
Oil eases as high US oil stocks outweigh weak dollar
LONDON: Oil prices edged lower on Thursday as a weaker dollar, which usually boosts oil prices, was outweighed by concerns about rising...
Emirates offers pilots, cabin crew four months unpaid leave
DUBAI: Emirates airline is offering some pilots and cabin crew up to four months of unpaid leave, as it strives to manage...
IMF increases annual financing limit for countries amid pandemic
WASHINGTON: The International Monetary Fund (IMF) has temporarily increased the amount of financing which the member countries can request in an year...
Oil falls as inventories rise and US-China tensions escalate
LONDON: Oil prices fell on Wednesday as industry data showed a bigger than expected rise in US inventories and as tensions escalated...
Qatar Airways seeks $5bn compensation from Arab bloc over airspace ban
DUBAI: Qatar Airways is seeking at least $5 billion in compensation from Saudi Arabia, the United Arab Emirates, Egypt and Bahrain for...
LinkedIn cuts 960 jobs as pandemic puts the brakes on corporate hiring
Microsoft Corp’s professional networking site LinkedIn said on Tuesday it would cut about 960 jobs, or 6pc of its global workforce, as...