Turkey seeks global funding help to gird against lira shock
ANKARA: Turkey's government has appealed to foreign allies in an urgent search for funding, three senior Turkish officials said, as it prepares...
IEA still sees record 2020 oil demand fall but easing lockdowns helping
LONDON: Oil demand is still set for a record fall in 2020, the International Energy Agency (IEA) said on Thursday, but it...
WTO chief Azevedo expected to step down early
GENEVA/BRUSSELS: The head of the World Trade Organization will announce his early departure on Thursday more than a year before the end...
Companies navigate a world that is vastly changed after coronavirus
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to...
Pandemic crisis forecast to hit insurers for $200bn
LONDON: The pandemic will cost the insurance industry over $200 billion, according to Lloyds of London, who estimated that its own payouts...
World’s biggest shipper expects 25pc drop in container demand
COPENHAGEN: The world’s biggest shipping company, Denmark’s A P Moller-Maersk, said Wednesday that it expects its transport volumes to drop by up...
OPEC slashes oil demand forecast again, sees biggest hit this quarter
LONDON: OPEC slashed its forecast on Wednesday for global oil demand this year and predicted this quarter would see the steepest decline...
UK economy shrinks 5.8% in March, most on record
LONDON: Britain’s economy shrank by a record 5.8 percent in March from February as the coronavirus crisis escalated and the government ordered...
Uber approaches Grubhub with acquisition offer
Uber Technologies Inc is in talks to buy online food delivery company Grubhub Inc in an all-stock deal, according to people familiar...
Honda sinks deeper into quarterly losses on virus outbreak
TOKYO: Japanese automaker Honda Motor Co sank deeper into losses for the fiscal quarter that ended in March, as the damage to...
Saudi Aramco Q1 net profit slides 25% as oil prices plunge
Saudi Arabian state oil giant Aramco on Tuesday reported a 25 per cent fall in first-quarter net profit, below analyst estimates, hurt...
Asia’s pandemic stimulus may slow the demise of coal
Coal power plant construction will push ahead in Asia despite falling electricity demand and environmental concerns as policymakers prioritise boosting economies crippled...
Stocks down on fears over second wave as lockdowns ease
Fears of a second wave of coronavirus infections in some parts of the world weighed on equities Tuesday, bringing a dose of...
Chinese investment in US drops to lowest level since 2009
WASHINGTON: China’s direct investment in the United States fell last year to its lowest level since the Great Recession, even before the...
Oil prices drop amid supply glut, fears of second coronavirus wave
SINGAPORE: Oil prices fell on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to...