On 5 May, Bharath Gupta, a district collector in southern India, learnt that the sprawling Koyambedu market in Chennai city was being temporarily closed. The reason: several vendors and labourers at the market had tested positive for coronavirus, and were being linked to a spate of cases in Chennai and […]
Business
Sources said youngest daughter Roshni Kapoor said in her statement to the ED that she was just 10 years old when Morgan Credit India Private Limited (MCPL) and Yes Capital India Private Limited (YCPL) were set up in 2003-2004. Yes Bank founder Rana Kapoor’s daughters have told Enforcement Directorate that […]
Germany’s economy shrank by 2.2% in the first three months of this year as the coronavirus pandemic pushed it into recession, official figures indicate. It was the biggest quarterly fall since 2009, when the country was engulfed in the global financial crisis. The figures from the Federal Statistics Office come […]
The US has announced new export controls aimed at limiting Chinese technology giant Huawei’s access to semiconductor technology. The new rule bars semiconductor-makers that use US technology and software in chip design from shipping to Huawei without US government permission. It is the latest US action to target Huawei, which […]
BANGKOK: Thailand is preparing to reopen department stores and various business venues nationwide from Sunday (May 17) as the COVID-19 situation in the country continues to improve, according to the Centre for COVID-19 Situation Administration (CCSA). CCSA spokesperson Dr Thaweesilp Wisanuyothin said on Friday that further relaxation of the lockdown […]
The head of the World Trade Organization has said he will step down a year earlier than planned, at a crucial moment for the global economy. Roberto Azevedo’s surprise departure comes as the WTO faces the impact of the coronavirus pandemic and criticism from US President Donald Trump. Global trade […]
The coronavirus pandemic could cost the global economy between $5.8tn and $8.8tn (£4.8tn-£7.2tn), according to Asian Development Bank (ADB). That’s more than double last month’s prediction and equates to 6.4%-9.7% of the world’s economic output. It comes as measures to slow the spread of Covid-19 continue to paralyse economic activity […]
BEIJING: China’s industrial output returned to growth for the first time this year in April, official data showed Friday (May 15), as the country continued its gradual recovery after the coronavirus brought activity to a near-halt. Industrial production grew a more-than-expected 3.9 per cent year-on-year last month in a sign […]
KUALA LUMPUR: Malaysian prosecutors on Thursday (May 14) dropped money laundering charges linked to the 1Malaysia Development Berhad (1MDB) scandal against one of the producers of Hollywood hit The Wolf of Wall Street after he agreed a settlement with the government. Malaysia’s anti-corruption commission said it will recover overseas assets […]
At about $5 a serving, tear gas ice cream has been a hit Tear gas is among the new flavors at a Hong Kong ice cream shop. The main ingredient is black peppercorns, a reminder of the pungent, peppery rounds fired by police on the streets of the semi-autonomous Chinese […]