LONDON, May 7 — Bitcoin miners, whose computer processors enable the running of the world’s most popular virtual currency, will soon face an event that takes place every four years and alters the profitability of the hi-tech industry. So-called halving is when cryptocurrency-mining companies and individuals find out the reduced […]
Business
BEIJING, May 7 — China’s exports unexpectedly rose in April for the first time this year, taking some pressure off manufacturers in the world’s second-largest economy after the coronavirus pandemic battered demand and disrupted manufacturing supply chains. April’s better-than-expected outcome followed an improvement in March, but the outlook for China’s […]
COPENHAGEN (Reuters) – Denmark’s Novo Nordisk posted a better-than-expected quarterly operating profit on Wednesday and kept its full-year outlook, as customers stocking up during the coronavirus pandemic boosted sales of its diabetes medicines. Novo Nordisk joined U.S. rival Eli Lilly and other large pharmaceuticals companies in sticking to or even […]
Norwegian Air is only paying invoices vital to maintaining minimum operations, such as salaries for staff still employed and critical IT infrastructure OSLO: Norwegian Air said on Sunday it had secured support from enough bondholders for a $1.2 billion debt-for-equity swap, a vital step in helping it survive the coronavirus […]
Wallan Trading Company has announced the signing of a strategic partnership agreement with Chinese automaker Geely Automobile International Corporation. The announcement came after an official meeting was held between the top managements of both the companies. The signing of the strategic partnership contract will strengthen the role of Wallan in […]
Uber Eats is closing down operations in eight markets, including Saudi Arabia and Egypt Uber says its core rides business was unaffected in all of the markets JEDDAH: Uber Eats announced the suspension of its services on Monday, considering it their last working day before removing its service completely from […]
ITC is one of India’s top consumer goods companies with annual sales of $11 billion ITC said the attendance of some workers in April was irregular while some had not reported at all NEW DELHI: Indian consumer goods giant ITC has warned some workers of disciplinary action and pay cuts […]
The world event was originally set in October this year. The bureau said a required two-thirds of the countries in the organization had voted to approve the delay DUBAI: Dubai’s Expo 2020 world’s fair will be delayed to Oct. 1, 2021, over the new coronavirus pandemic, a Paris-based […]
ISLAMABAD: There was no need for people to panic-buy oil products as Pakistan had “sufficient stocks”, the Ministry of Energy’s Petroleum Division said on Sunday. The statement was issued following reports speculating on a shortage in the country’s fuel reserves. The Petroleum Division noted that high sales volumes were witnessed […]