Great Depression-like US unemployment rate expected in April
WASHINGTON: The US economy likely lost a staggering 22 million jobs in April, in what would be the steepest plunge in payrolls...
From zero to hero: Physical oil rally might be short-lived
LONDON: From Kazakhstan to the North Sea and the US, physical crude has jumped in value in recent days, but the rally...
Airbus deliveries plunge 80pc in April
PARIS: Airbus deliveries tumbled 80 per cent to just 14 aircraft in April, compared with a year earlier, as operations were hit...
Global luxury goods sales to slide up to 35pc: study
SOAVE, Italy: The global luxury goods sector is heading for a stunning collapse of up to 35 per cent this year due...
Oil jumps on China export bounce but long-term outlook remains weak
LONDON: Oil prices jumped on Thursday on news that China’s exports unexpectedly rose last month, and on the back of US output...
Aramco close to inking $10bn deal with group of about 10 banks: sources
DUBAI: Saudi Aramco is about to finalise a $10 billion loan with a group of roughly 10 banks, three sources familiar with...
China says tariffs should not be used as a weapon after US threats
United States urged 'not to divert attention from its own mismanagement of coronavirus epidemic by shifting blame onto China'
Australia ties up with airlines to carry produce, seafood to Asia
SYDNEY: Australia on Wednesday said it has reached agreements with Singapore Airlines and Qantas Airways Ltd to carry foods to Asian markets,...
Gilead says in talks with drugmakers in Pakistan, India to produce remdesivir
Gilead Sciences Inc. said on Tuesday it was in discussions with chemical and drug manufacturers in Pakistan and India to produce its...
US trade gap surges to $44.4bn as virus slams commerce
WASHINGTON: The US trade deficit rose in March as the coronavirus outbreak battered America’s trade with the world.
The Commerce Department reported Tuesday...
Banks lending firepower in pandemic may need reinforcing: BIS
LONDON: Banks might not have enough capital to keep credit flowing if the COVID-19 pandemic leads to an economic downturn on the...
Stocks rally as nations begin to slowly reopen
Equities and crude rallied Tuesday as investors cheered a further easing of lockdowns in some countries, which offset a brewing row between...
World leaders pledge billions for virus vaccine research
BRUSSELS: World leaders, organizations and banks on Monday pledged 7.4 billion euros ($8 billion) for research to find a vaccine against the...
Oil starts week on back foot as rally loses steam
Oil prices fell on Monday after strong gains last week, with continued concerns about oversupply and storage capacity due to a coronavirus-triggered...
Years needed to restore demand, say UAE airlines
DUBAI: Top executives of Emirates and Etihad, two of the Middle East’s biggest airlines, have said passenger demand may not return to...