Sri Lanka hikes fuel prices as economic crisis worsens

Sri Lanka raised fuel prices Tuesday and warned of possible petrol rationing with importers struggling to pay for oil, in a worsening economic crisis that has also sparked food shortages.
21 December 2021, 18:00 PM

Dubai airport fully operational for first time since pandemic

Dubai airport, one of the world’s busiest travel hubs, is fully operational for the first time since the coronavirus pandemic erupted in March 2020, officials said Monday.
20 December 2021, 18:00 PM

China cuts interest rate for first time in 20 months

China’s central bank cut a key interest rate on Monday for the first time in nearly two years in a bid to kickstart growth in the world’s number two economy as it creaks under the impact of a real estate crisis and coronavirus flare-ups.
20 December 2021, 18:00 PM

Biden’s electric vehicle push hits setback in US Senate

A bid by the White House to dramatically boost electric vehicle tax credits hit a major roadblock on Sunday when a key Senate Democrat said he would not support a $1.75 trillion domestic investment bill.
20 December 2021, 18:00 PM

Omicron uncertainty prompts WEF to delay Davos summit

The World Economic Forum (WEF) on Monday postponed its annual meeting in Davos due to the spread of the Omicron coronavirus variant, putting off the event scheduled for January until mid-2022.
20 December 2021, 18:00 PM

Asian markets tumble

Asian stocks and oil prices sank on Monday on fears about a fresh global surge in coronavirus infections and as the future of US President Joe Biden’s massive social spending bill was thrown into doubt after it lost the crucial vote of a moderate Democrat.
20 December 2021, 18:00 PM

Oil prices sink

World oil prices fell by more than five percent on Monday, as energy demand fears grew over the fast-spreading Omicron coronavirus variant.
20 December 2021, 18:00 PM

Apple seeks dismissal of India apps market antitrust case

Apple Inc has asked India’s antitrust watchdog to throw out a case alleging abuse of market power in the apps market, saying it is too small a player in the South Asian country where Google is dominant, a filing seen by Reuters shows.
19 December 2021, 18:00 PM

Russia ready to ‘fight’ for space tourism supremacy

After a decade-long hiatus, Russia is relaunching an ambitious bid for dominion over the world’s budding space tourism industry, jostling with zealous billionaires, the United States, and rising China.
19 December 2021, 18:00 PM

End of an era nears for Berlin’s coal stoves

Alban Nikolai Herbst’s Berlin apartment is covered in dust, his precious record collection included, thanks to a coal-powered stove he still uses to heat his home like thousands across the city.
19 December 2021, 18:00 PM

Most Gulf bourses in red on Omicron worries

Most Gulf stock markets fell in early trade on Sunday, responding to a slide in crude prices on Friday as surging cases of the Omicron coronavirus variant raised fears that new restrictions may hit fuel demand.
19 December 2021, 18:00 PM

China to tighten antitrust legal enforcement

China’s antimonopoly bureau will step up legal enforcement against monopolistic behaviour and push forward the amended antimonopoly law to improve the regulatory framework, said Gan Lin, chief of the national antimonopoly bureau.
19 December 2021, 18:00 PM

‘Super Saturday’ set to lure last-minute shoppers in US

US retailers opened their doors on Saturday to what they hope will be swarms of shoppers searching for last-minute holiday gifts, despite surging cases of the coronavirus, including the new, highly-contagious Omicron variant.
19 December 2021, 18:00 PM

China’s property distress sours steel sector

Debt problems at a major Chinese property developer have now spilled over into a vital artery of the nation’s industrial engine - the steel sector - and started to ripple through to other critical parts of the world’s second-largest economy.
19 December 2021, 18:00 PM

British hospitality businesses reel from Omicron surge

Britain’s pandemic-weary hospitality businesses have taken a fresh hit from soaring coronavirus cases fueled by the Omicron variant, as anxious customers curtail socialising and cancel bookings over the Christmas period.
18 December 2021, 18:00 PM

Fitch downgrades Sri Lanka as default fears mount

International ratings agency Fitch downgraded cash-strapped Sri Lanka Saturday due to mounting fears of a sovereign default on its $26 billion foreign debt, but Colombo insisted it will meet its obligations.
18 December 2021, 18:00 PM

China’s factories speed up but new Covid pain hits retailers

China’s factory output grew faster than expected in November, supported by stronger energy production and a moderation in sky-high materials costs, but new curbs to fight rising Covid-19 cases hit retailers in the world’s second-largest economy.
18 December 2021, 18:00 PM

S&P dumps Chinese property giant Evergrande into default

The poster child of China’s property crisis China Evergrande Group was officially declared in default by credit rating agency S&P Global on Friday after the sprawling firm missed a bond payment earlier this month.
18 December 2021, 18:00 PM

Qantas turns to Airbus for domestic fleet

Australian flag carrier Qantas on Thursday announced a deal to buy 40 Airbus aircraft, to renew its domestic fleet.
16 December 2021, 18:00 PM

ECB begins step-by-step stimulus exit

The European Central Bank on Thursday said it would wind down pandemic-era bond buys as the eurozone comes under pressure from soaring inflation, even as concerns grow about the fast-spreading Omicron variant of the coronavirus.
16 December 2021, 18:00 PM