NEW YORK: The United States is tying payments for COVID-19 vaccines to timing milestones for production and approval, according to public documents and a Trump administration official, putting pressure on drugmakers including Moderna to meet ambitious targets. In a deal with Moderna announced this week, federal agencies negotiated a sliding […]
Business
Online retail giant Amazon has launched an internet pharmacy in India, marking its entry into the country’s online medicine market. Amazon Pharmacy will make its debut in Bangalore and it may be trialled in other Indian cities. The move comes as the online drugs business has been given a major […]
HONG KONG: Hong Kong cut its economic outlook for the year on Friday (Aug 14), saying a recovery from recession depended on how fast it can get a new wave of coronavirus infections under control. The territory’s government revised its full year gross domestic product forecast to a contraction of […]
SHANGHAI: Chinese shoppers on Friday (Aug 14) expressed dismay at news that traces of the coronavirus had been found on imported frozen food, with some saying they would avoid the products. Two cities in China on Thursday found the virus in frozen chicken wings imported from Brazil and shrimp from […]
The Bureau of Indian Standards (BIS) has in recent weeks delayed approvals for mobile phone components and televisions of Chinese companies Chinese firms like Xiaomi are facing delays getting approvals from India’s quality control agency for their goods, five industry sources told Reuters, as the business environment deteriorates after a […]
BEIJING: Chinese telecom giant Huawei said production of its most advanced smartphone chips would stop in September due to US sanctions, causing a “huge loss”. Huawei – the world’s biggest producer of telecoms networking equipment – has become a pivotal issue in the geopolitical standoff between Beijing and Washington, which […]
Two people familiar with the matter said Trump would extend the supplemental unemployment insurance at a $400-per-week level, a reduction from the $600 in the last stimulus bill. President Donald Trump said that if he can’t reach agreement with Democrats over stimulus legislation, he’s prepared to sign executive actions to […]
At an election rally in Ohio, Donald Trump announced that Washington will impose a 10% tariff on Canadian aluminum. Canadian Prime Minister Justin Trudeau has asserted his government will implement “dollar-for-dollar” retaliatory measures after US president Donald Trump announced new tariffs on imports of Canadian aluminum. Canada and the United […]
REUTERS: TikTok is preparing advertisers for a possible ban of its app in the United States, ad buyers said, offering refunds for ad campaigns that are unable to run. The short-form video app’s advertising business is still nascent. TikTok’s anticipated US$1 billion (766 million pounds) in 2020 revenue is a […]
NEW YORK: Wall Street stocks finished mixed on Friday (Aug 7), with the Nasdaq retreating from a record following solid US jobs data as Washington talks on a new spending package remained stalemated. The US added 1.8 million jobs last month, fewer than in May and June, but better than […]