Hong Kong’s currency, pegged to the US dollar, provides considerable financial buffer, says an observer. CORK, Ireland: Increasing economic tensions between the US and China continue to threaten Hong Kong’s economy. China’s national security law will see greater controls over areas such as secessionist activities, terrorism and foreign interference. Similarly, […]
Business
LONDON: Britain’s AstraZeneca will be able to deliver 2 billion doses of its potential coronavirus vaccine this year and next, double the previous numbers, thanks to deals with the Serum Institute of India and two Bill Gates-backed global health organisations. The company, which has already agreed to supply 400 million […]
Japan’s SoftBank is the latest major company to respond to the protests over the death of George Floyd. The technology giant has launched a $100m (£80m) fund that will invest in companies led by “people of colour”. It comes as executives of firms including Twitter, Bank of America and General […]
More than 40% of cinemas in China could go bust according to a bleak report by the China Film Association. Having been temporary closed during the virus pandemic, audiences may struggle to return, the association says. Millions of Chinese have enjoyed watching movies online during cinema closures thanks to a […]
The US is barring passenger flights from China from 16 June, in the latest sign of tensions between the two economic giants. The Department of Transportation said it is punishing Beijing for refusing to let US airlines resume flights to China as its pandemic subsides. In recent weeks the countries […]
RIYADH: Saudi Arabia seeks to raise US$2.3 billion from an emergency donor conference Tuesday (Jun 2) to support war-battered Yemen as it faces a coronavirus catastrophe in the sixth year of the kingdom’s military intervention. The virtual conference, which Riyadh is co-hosting with the United Nations, comes as aid groups […]
TOKYO: Japan is engaged in dialogue with South Korea on export controls, the Japanese trade minister said on Tuesday (Jun 2), declining to elaborate on Seoul’s request for Tokyo to remove restrictions on exports of technological materials. South Korea had asked Japan to clarify its stance on the export controls […]
WASHINGTON: Global smartphone sales saw their worst-ever slump in the first quarter as the coronavirus pandemic hit consumer spending, a market tracker said Monday (Jun 1). The Gartner survey found a 20.5 per cent drop in the first three months of the year. The plunge came amid heightened economic uncertainty […]
NEW YORK: Wall Street stocks finished higher on Monday (Jun 1), shrugging off unrest in many cities following anti-racism protests and worsening US-China tensions. The Dow Jones Industrial Average gained 91.91 points (0.36 per cent) to 25,475.02. The broad-based S&P 500 climbed 11.42 points (0.38 per cent) to 3,055.73, while […]
WASHINGTON: U.S. President Donald Trump’s effort to regulate social media companies’ content decisions may face an uphill battle from regulators who have previously said they cannot oversee the conduct of Internet firms. Trump said last week that he wants to “remove or change” a provision of a law that shields […]