WASHINGTON: A range of business groups have made an 11th-hour appeal to US President Donald Trump as he weighs whether to restrict temporary work visas, warning of negative economic consequences if he blocks the flow of skilled foreign workers into the United States. More than 300 US companies, business associations […]
Business
REUTERS: Alibaba Group Holding Ltd on Friday reported forecast-beating fourth-quarter revenues and profits, as more people shopped online for essentials because of the coronavirus lockdowns. As people stayed indoors and brick-and-mortar stores remained shut during the health crisis, online orders surged, with the company’s core commerce business rising nearly 19per […]
TOKYO: Japan’s central bank on Friday (May 22) offered hundreds of billions of dollars in additional lending to help small firms in the world’s third-largest economy struggling with the economic devastation wrought by coronavirus. The Bank of Japan expanded its loan programme by 30 trillion yen (US$279 billion), bringing its […]
BEIJING: China refrained from setting a 2020 gross domestic product growth target and pledged to step up spending and financing to support its economy, according to Premier Li Keqiang’s work report released on Friday (May 22) at the start of the annual parliament meeting. Given “great uncertainty” caused by the […]
Pedestrians walk under a television screen in Hong Kong showing a news broadcast of Chinese President Xi Jinping. WASHINGTON, DC: The United States on Thursday (May 21) urged China to respect Hong Kong’s autonomy, warning that its proposed national security law for the city would be “highly destabilising” and […]
TAIPEI: The US government has notified Congress of a possible sale of advanced torpedoes to Taiwan worth around US$180 million, a move likely to further sour already tense ties between Washington and Beijing, which claims Taiwan as Chinese territory. The United States, like most countries, has no official diplomatic ties […]
An Italian woman has won a painting by Pablo Picasso, worth about €1m (£900,000; $1.1m), in a raffle after being given the ticket as a gift. The winning ticket was pulled out during a live draw at Christie’s auction house in Paris. The event, which was fundraising for Care charity, […]
The US Senate has passed a bill that could block some Chinese companies from selling shares on American stock exchanges. Chinese online retail giant Alibaba made its New York Stock Exchange debut in 2014 It would require overseas firms to follow US standards for audits and other financial regulations. […]
FILE PHOTO: People stroll through a park in front of the Sydney Opera House amidst the easing of the coronavirus disease (COVID-19) restrictions in Sydney, Australia, May 20, 2020. SYDNEY: Australian state and territory leaders bickered on Thursday (May 21) over whether to reopen internal borders, a major step […]
The UK’s inflation rate fell in April to its lowest since August 2016 as the economic fallout of the first month of the lockdown hit prices. The Consumer Prices Index (CPI) fell to 0.8% from 1.5% in March, the Office for National Statistics (ONS) said. Falling petrol and diesel prices, […]