Russia calls for new enlarged OPEC deal to tackle oil demand collapse
MOSCOW: A new OPEC+ deal to balance oil markets might be possible if other countries join in, Kirill Dmitriev, head of Russia’s...
Uber set to receive multi-billion-dollar investment from Softbank
SAN FRANCISCO/NEW YORK: Uber Technologies Inc’s warring board members have struck a peace deal that allows a multibillion-dollar investment by SoftBank Group...
Sanofi clinches $2bn vaccines deal with Translate Bio
PARIS: French drugmaker Sanofi has agreed a potential $2 billion deal with US biotech company Translate Bio to make vaccines, expanding their...
Bitcoin is a smoking gun, but wild swings continue
NEW YORK: What’s a bitcoin worth? Lately nobody knows for sure, but after a wild ride on Friday, it’s worth a good...
Exxon to cut 14,000 global jobs as pandemic hurts demand
Exxon Mobil Corp said on Thursday it could cut the number of global employees by 15pc and would lay off about 1,900...
Abu Dhabi’s Etihad to start direct flights to Israel next year
DUBAI: Abu Dhabi’s Etihad Airways said on Monday it would start daily flights to Tel Aviv in March after the United Arab...
US pitches Europe its gas as alternative to Russia’s
According to the US Energy Information Administration, US exports of LNG soared from 0.5 billion cubic feet per day in 2016 to 1.94 billion cubic feet per day last year
Shell to write down assets again, taking cuts to more than $22bn
LONDON: Royal Dutch Shell on Monday said it will write down the value of oil and gas assets by $3.5 billion to...
Oil drops after strong rally as talk of slower recovery weighs
SINGAPORE: Oil prices fell on Thursday, giving up some of the recent strong gains on expectations of slower economic recovery and speculation...
EU shares slide to six-month low on China, Italy worries
LONDON: European shares fell on Monday as fears a trade war could have a bigger impact than expected on China added to...
FDI has plunged by 40 percent globally: UNCTAD
According to UNCTAD, the development is mainly owing to recent tax reforms in the U.S. which have encouraged big firms there to bring home earnings from abroad – principally from Western European countries
Disney sees positive signs for business
SAN FRANCISCO: The Walt Disney Company said it was seeing “encouraging signs of recovery” across a wide range of its businesses while...
Fitch revises up global GDP growth to 6.3pc in 2021
LONDON: Fitch Ratings expects that the world gross domestic product (GDP) will grow by 6.3 percent in 2021, while growth is expected...
GSK Chairman Hampton to step down ahead of split
The announcement comes a month after GSK’s Chief Executive Emma Walmsley announced her boldest plans yet - to split the company into two businesses — one for prescription drugs and vaccines, the other for over-the-counter products
Myanmar’s junta powerless as currency drops 60pc in four weeks, economy tanks
NAYPYITAW: Myanmar's currency has lost more than 60% of its value since the beginning of September in a collapse that has driven...