SYDNEY : Australian retail sales dived for a third straight month in August as half the population were trapped in coronavirus lockdowns, though reopening is in sight as vaccinations race toward world-beating levels. Figures from the Australian Bureau of Statistics on Tuesday showed retail sales fell 1.7per cent in August […]
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MELBOURNE:Hess Corp sees oil markets remaining tight in the short term and supporting strong prices as demand recovers more quickly than supply post-pandemic with U.S. shale producers holding back capital spending, its president said on Monday. The oil producer expects a V-shaped recovery in demand and a U-shaped recovery in […]
KUALA LUMPUR: Malaysia is targeting economic growth of 4.5per cent to 5.5per cent per annum between 2021 and 2025, Prime Minister Ismail Sabri Yaakob said on Monday. The government expects the Southeast Asian nation’s financial position to improve in 2023 when the economy strengthens, the premier said while launching Malaysia’s […]
BANGKOK: Thailand’s economy is still expected to grow 1.3per cent this year and the government is maintaining a target of 4-5per cent growth next year as it makes a push to revitalise the economy through measures, the finance minister said on Monday. The finance ministry’s growth outlook this year is […]
KABUL: The Taliban government in Afghanistan appealed today for international flights to be resumed, promising full cooperation with airlines and saying that problems at Kabul airport had been resolved. The statement from the foreign affairs ministry comes as the new administration has stepped up efforts to open up the country […]
LONDON: A boom in corporate dealmaking, surging input costs and a focus on short-term cash flows in the pandemic have sent companies rushing to hedge their currency exposures this year, giving a boost to banks that sell foreign exchange products. Corporate treasurers say the pandemic, which sent revenues tanking in […]
MELBOURNE : Australia’s coal mines are at risk of becoming stranded assets under three out of four scenarios that consider how the global energy transition will unfold, according to a report by the country’s central bank. Australia is the world’s biggest exporter of coal and liquefied natural gas, with fossil […]
TOKYO: Some clothing releases at Uniqlo stores will be delayed due to COVID-19 lockdowns at partner factories in Vietnam, Uniqlo’s Japanese parent firm Fast Retailing said on Thursday. The delays will affect four items of the company’s Uniqlo U brand which were due to be released in Japanese stores in […]
ST. LOUIS : When night fell, a clerk at a bustling 24-hour MotoMart flipped a switch from behind the counter. Electromagnetic locks sealed the doorway. A window sign, now illuminated in red, warned “facial recognition technology in use” and directed customers to “look up at the camera.” On this recent […]
SEOUL : South Korea’s Hyundai Motor Co plans to use an auto chip it has developed itself for one of its upcoming vehicles next year, the Seoul Economy Daily reported on Friday. Hyundai Motor, which together with affiliate Kia Corp is among the world’s top 10 biggest automakers by sales, […]