SYDNEY: China will lose access to a strategic space tracking station in Western Australia when its contract expires, the facility’s owners said, a decision that cuts into Beijing’s expanding space exploration and navigational capabilities in the Pacific region. The Swedish Space Corporation (SSC) has had a contract allowing Beijing access […]
Business
NEW YORK: China’s ByteDance said on Monday (Sep 21) that TikTok’s global business will become its subsidiary, even as Oracle and Walmart said over the weekend that they and US investors would own the majority of the video app following a deal with US President Donald Trump’s administration. Trump signed […]
NEW YORK: Global oil refiners reeling from months of lacklustre demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery workers and industry analysts. Refiners cut output by as much as […]
A small but growing coterie of Chinese companies are betting on a bright future for plant-based meat products as consumers take their health more seriously in the wake of the COVID-19 pandemic. BEIJING: A small but growing coterie of Chinese companies are betting on a bright future for plant-based meat […]
China’s finance ministry said on Tuesday it will extend existing tariff exemptions for 16 products from the United States including lubricants, whey and fish meal by an additional year. BEIJING: China’s finance ministry said on Tuesday it will extend existing tariff exemptions for 16 products from the United States including […]
Oil prices inched lower on Tuesday as a bleaker outlook for global fuel demand prompted fresh selling, but short-covering ahead of a meeting later this week of OPEC and its allies, known as OPEC+, limited losses. TOKYO: Oil prices inched lower on Tuesday as a bleaker outlook for global fuel […]
LONDON: Taxi app Uber will battle in court on Tuesday (Sep 15) to win back its licence to operate in London after the city’s transport regulator removed it over safety concerns. Transport for London (TfL) refused in 2019 to grant the Silicon Valley-based company a new licence due to what […]
SINGAPORE: Beaten-down equities in Southeast Asia have become irresistibly cheap, according to analysts at HSBC who recommend investing in Indonesia and across the region in a contrarian note on Monday (Sep 14) that forecasted the best returns from laggard Singapore. On a day when social curbs returned to Jakarta, Europe’s […]
NEW YORK: ByteDance abandoned the sale of TikTok in the United States on Sunday (Sep 13) in pursuit of a partnership with Oracle that it hopes will spare it a US ban while appeasing China’s government, people familiar with the matter told Reuters. The Beijing-based company had been in talks to divest […]
Samsung Electronics’ display unit and LG Display Co Ltd are expected to stop supplying panels for premium smartphones to Huawei Technologies due to U.S. restrictions, South Korean online media Chosun Biz reported on Wednesday. SEOUL: Samsung Electronics’ display unit and LG Display Co Ltd are expected to stop supplying panels […]