Business

BANGKOK: Thailand’s economy suffered its worst contraction since the Asian financial crisis more than two decades ago, data showed Monday (Aug 17), as the coronavirus shattered the country’s crucial tourism industry. The kingdom has largely escaped the worst of the disease – registering 3,300 cases and 58 deaths despite being […]

The Japanese economy has shrunk at its fastest rate on record as it battles the coronavirus pandemic. The world’s third largest economy saw gross domestic product fall 7.8% in April-June from the previous quarter, or 27.8% on an annualised basis. Japan was already struggling with low economic growth before the […]

It was a mistake for the ages — a “clerical error,” as Citigroup told lenders — that’s now plunged the bank into a battle between the Perelman empire and a corps of sharp-edged investment funds that have become its impatient creditors. Even for Citigroup Inc., it was big money. On […]

SINGAPORE: Singapore’s non-oil domestic exports (NODX) grew 6 per cent in July from a year ago, beating expectations and bolstered by shipments of non-monetary gold, specialised machinery, pharmaceuticals and electronics. The latest data from Enterprise Singapore on Monday (Aug 17) is a drop from June’s revised 13.9 per cent increase, […]

KOTA TINGGI: Budget hotel operators have been urged to find more creative ways to encourage tourists to return.Making the call, Tourism, Arts and Culture Minister Datuk Seri Nancy Shukri said industry players she met in Langkawi recently admitted that they are still feeling the impact of the movement control order […]

SINGAPORE: A trio of investors including local entrepreneurs Nelson Loh and Terence Loh say they are at an “advanced stage of negotiation” for the purchase of English Premier League club Newcastle United. In response to queries from CNA, the Bellagraph Nova group, which was co-founded by Mr Nelson Loh, Mr […]

FRANKFURT: German biotechnology firm CureVac does not rule out a speedy approval process for its prospective vaccine against COVID-19, its chief executive was quoted as saying on Sunday (Aug 16). The company said on Friday that it expects to put its vaccine on the market by mid-2021. Obtaining speedy approval […]

BUENOS AIRES: The Argentine government formalised its amended bond restructuring offer on Saturday night (Aug 15), confirming in a presidential decree that it would submit the new deal to the US Securities and Exchange Commission on Monday. The decree outlined how the government had approved a second round of amendments […]

LOS ANGELES: United Parcel Service and FedEx on Friday shot down social media calls that they step in to deliver mail-in ballots from the U.S. Postal Service, which is warning states of potentially “significant” delays. “State ballots must be postmarked to be considered valid and only the USPS has lawful […]