SINGAPORE: Singapore’s central bank and the US Federal Reserve have extended a US$60 billion swap facility through to March 2021 to bolster US dollar lending to firms in the country and the region, the Monetary Authority of Singapore (MAS) said on Thursday (Jul 29). The swap facility allows MAS to […]
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SHENZHEN: China’s Huawei overtook Samsung Electronics as the world’s biggest seller of mobile phones in the second quarter of 2020, shipping 55.8 million devices compared to Samsung’s 53.7 million, according to data from research firm Canalys. While Huawei’s sales fell 5per cent from the same quarter a year earlier, South […]
LOS ANGELES: President Donald Trump’s administration on Wednesday (Jul 29) agreed to a deal to defuse weeks of clashes in the US city of Portland with the withdrawal of federal forces whose presence enraged protesters, but the timing remained in dispute. Oregon Governor Kate Brown said the forces – whose […]
NEW YORK: Boeing suffered a bigger-than-expected loss in the latest quarter, the company announced Wednesday (Jul 29), and signalled additional job cuts are likely as it contends with a protracted air travel downturn amid the coronavirus pandemic. The aerospace giant, which previously suspended the dividend for shareholders and announced a […]
RIO DE JANEIRO: Chinese drug company Sinopharm and Parana state have agreed to launch the fourth major COVID-19 vaccine trial in Brazil and will seek regulatory approval in the next two weeks, the Brazilian partners said on Wednesday (Jul 29). A trial by Sinopharm would join Phase III trials already […]
WASHINGTON: Google and Facebook took the sharpest jabs for alleged abuse of their market power from Democrats and Republicans on Wednesday (Jul 29), in a much-anticipated congressional hearing with four of America’s most prominent tech CEOs in the hot seat. Facebook’s Mark Zuckerberg, Amazon’s Jeff Bezos, Google’s Sundar Pichai and […]
BUENOS AIRES: Argentina has started clinical trials on treating COVID-19 using hyperimmune serum developed with antibodies from horses, authorities from the laboratory involved said on Wednesday (Jul 29). The serum, produced by biotechnology company Inmunova, is obtained by injecting a SARS-CoV-2 protein, which causes the animal to generate a large […]
SEOUL: Samsung Electronics said on Thursday (Jul 30) it expects a gradual recovery in demand for mobile devices and consumer electronics in the second half of the year, but risks remained due to coronavirus pandemic and growing competition. Samsung posted a 23 per cent jump in operating profit in the […]
LONDON: Brighton signed Netherlands defender Joel Veltman from Ajax for an undisclosed fee on Wednesday (Jul 29). Veltman agreed a three-year contract with the Premier League side. The 28-year-old helped Ajax win the Dutch title three times after coming through the club’s vaunted academy. “We’re delighted to welcome Joel to […]
MILAN: Veteran AC Milan forward Zlatan Ibrahimovic scored twice and Gianluigi Donnarumma saved a penalty as they won 4-1 at Sampdoria on Wednesday to stay unbeaten since the Serie A season restarted. Milan remained sixth with 63 points which will earn them a place in the Europa League second qualifying […]