Europe’s auto industry shuts factories, slashes output as virus hits
BARCELONA/MILAN: Europe’s major car and parts makers rushed on Wednesday to close factories and cut output in Italy and considered sending workers...
Oil prices bounce back 7pc after biggest one-day fall since 1991
Oil prices bounced back 7 percent on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility...
Coronavirus crisis could cost world $2 trillion: UN
UN economists warned Monday that the raging outbreak of the deadly new coronavirus could cost the global economy between $1.0 and $2.0...
IMF calls for ‘substantial’ stimulus, coordination against virus
WASHINGTON:Â The International Monetary Fund (IMF) called on governments worldwide Monday to join forces and roll out aggressive financial supports for the coronavirus-infected...
Russia vs Saudi: How much pain can they take in oil price war?
DUBAI/MOSCOW: Oil titans Russia and Saudi Arabia have accumulated vast financial cushions that will help them weather a lengthy price war. It’s...
Tesco plans $6.6bn shareholder return from Asia disposals
LONDON/BANGKOK: Tesco (TSCO.L) plans to return $6.6 billion to shareholders after agreeing to sell its supermarket businesses in Thailand and Malaysia to...
Trump blames oil fight, ‘Fake News’ for stock market drop
WASHINGTON: US President Donald Trump blamed a fight for oil market share between Saudi Arabia and Russia, as well as unspecified “Fake...
UN trade body predicts big coronavirus hit to FDI
ZURICH: The coronavirus outbreak will cause global foreign direct investment (FDI) to shrink by 5pc-15pc from previous forecasts, resulting in only marginal...
US financial regulators start contingency planning as virus reaches Washington
WASHINGTON:Â US financial regulators are preparing contingency arrangements, including travel restrictions and homeworking, to ensure they can effectively oversee the financial markets as...
China’s exports tumble, imports slow as coronavirus batters trade and business
BEIJING: China’s exports contracted sharply in the first two months of the year, and imports slowed, as the health crisis triggered by...
India’s Yes Bank debacle jolts investors, customers and partners
BENGALURU/MUMBAI/NEW DELHI: Shares in India’s Yes Bank plunged on Friday as panicky depositors rushed to withdraw funds and payment partners faced outages after...
Oil plunges to lowest since 2017
NEW YORK: Oil prices tanked more than 8pc on Friday to their lowest levels since mid-2017 after Russia balked at OPEC’s proposed steep...
Abu Dhabi’s Etihad reports $870m loss in 2019
DUBAI: Abu Dhabi’s long-troubled national carrier Etihad has reported losses of $870 million in 2019 after losing billions in recent years, calling...
Coronavirus: Fear returns to global stock markets
Global stock markets have fallen sharply as investors continue to worry about the broader economic effects of the coronavirus.
London's FTSE 100 share...
IMF provides $50bn to fight coronavirus outbreak
The International Monetary Fund has announced $50bn (£39bn) of support for countries hit by the coronavirus.
The organisation also warned that the outbreak...