Central banks deploy record sums to break financial logjam, but may need more
LONDON/BOSTON: Central banks have offered trillions of dollars of support to markets in recent days to keep them from freezing up, as...
Home work triggers demand jump for chips, laptops and network goods
SEOUL/TOKYO: With more employees working from home to help slow the spread of the coronavirus, demand is surging for laptops and network...
Global economy will suffer for years to come: OECD
The world will take years to recover from the coronavirus pandemic, the Organisation for Economic Co-operation and Development has warned.
Angel Gurría, OECD secretary...
Asian markets fall as coronavirus pandemic deaths soar
Asian markets were mostly in the red in early trade Monday despite massive economic stimulus efforts worldwide, with investors spooked by the...
Oil prices fall 4% amid coronavirus chaos
Oil prices fell on Monday as governments escalated lockdowns to curb the spread of the global coronavirus outbreak that has slashed the...
US power industry may ask key employees to live at work if COVID-19 worsens
In the wake of the coronavirus outbreak, the US electric industry may ask essential staff to live on site at power plants...
Coronavirus: Emirates to ground entire passenger fleet and cut wages
DUBAI: Emirates, one of the world’s biggest international airlines, will ground its entire passenger fleet this week and cut staff wages by...
Germany prepares €150bn emergency budget in coronavirus package
BERLIN: Germany is readying an emergency budget worth more than 150 billion euros ($160 billion) to shore up jobs and businesses at...
China to stimulate private investment, accelerate ‘new infrastructure’ development
BEIJING: China will cut fees on a large scale to stimulate private-sector investment and also accelerate the development of “new infrastructure” to...
COVID-19: Top central banks launch new bid to keep dollars flowing
London: Leading central banks on Friday announced a new effort to keep dollars pumping through the virus-plagued world economy.
Starting on Monday, certain...
Saudi Arabia announces emergency stimulus, expects wider deficit
RIYADH/DUBAI: Saudi Arabia announced emergency stimulus measures on Friday that took its support for the economy to more than $32 billion as it...
World’s top debt funds lose billions in coronavirus rout
NEW YORK/LONDON: Coronavirus has hit the world’s biggest debt funds, which have lost billions of dollars in value, Morningstar data shows, while one...
Oil prices fall below $ 30 a barrel
Oil prices remained volatile on Friday after a dramatic rebound from multi-year lows but stayed below $30 a barrel on fears the...
US targets UAE-based firms for shipping Iranian oil
WASHINGTON: The United States on Thursday slapped sanctions on five companies based in the United Arab Emirates for allegedly shipping oil from...
Oil up after three-day plunge but coronavirus curbs gains
LONDON: US oil prices rose 10pc on Thursday after a three-day sell-off as the spread of the coronavirus and a battle for...