News

Wed, 01 Apr 2020 09:57:39 GMT

Oil trades at $25

During Wednesday's Asian trading hours, crude oil price benchmarks fluctuated near $25 price level, as it had recovered due to a Russian announced halt of output increases.

Wed, 01 Apr 2020 09:17:31 GMT

Apple raises China donations to fight coronavirus

Apple doubled donations to China's efforts to combat the COVID-19 to more than $7.0M, the tech giant's CEO Tim Cook said on Wednesday, weeks after Apple reopened 42 stores in the country.

Wed, 01 Apr 2020 07:56:52 GMT

Xerox lifts its hostile bid for HP

Xerox Holdings has abandoned its $35B hostile bid for the IT company HP Inc, after the coronavirus crisis stalled its takeover campaign, Reuters reported.

Wed, 01 Apr 2020 06:44:05 GMT

FCA sees no delay in PSA merger

Fiat Chrysler is not planning to postpone its merger process with the French carmaker PSA Group, according to recent information by the FIOM union, Reuters reported.

Wed, 01 Apr 2020 05:52:51 GMT

Citi to postpone 2020 investor day

Citigroup will postpone this year's investor day initially scheduled for May 13 amid the coronavirus outbreak and is set to follow the health authorities' guidance to set a new day for the event.

Wed, 01 Apr 2020 04:54:26 GMT

Eurozone's inflation declines in March

According to data from Eurostat, Eurozone's inflation fell to 0.7% in March due to the falling crude oil prices and the coronavirus crisis.

Wed, 01 Apr 2020 03:52:27 GMT

Fed to delay new regulations on controlling interests

On Tuesday, the US Federal Reserve said that it would delay the new regulations for when companies are considered in control of a bank for six months.

Wed, 01 Apr 2020 02:55:17 GMT

US crude oil prices edge higher

On Tuesday, crude oil prices remained stable. The US West Texas Intermediate rebounded from 18-year lows after the United States and Russia agreed to start talks on stabilising the oil market.

Wed, 01 Apr 2020 01:47:20 GMT

Walt Disney to start Disney+ service in India on April 3

On Tuesday, Walt Disney announced that its Disney+ service would be launched with local partner Hotstar in India on April 3, increasing rivalry with Amazon's Prime Video and Netflix.

Tue, 31 Mar 2020 20:01:30 GMT

Japan industrial output rises

The Japanese industrial output increased by 0.4% in February, compared to the previous month, data released by the Ministry of Economy, Trade and Industry show.

Tue, 31 Mar 2020 19:01:23 GMT

British economy expands

The British economy expanded by 1.1% in the last quarter of 2019, compared to the same period in 2018, the Office for National Statistics reports.

Tue, 31 Mar 2020 18:09:02 GMT

Cambodia economy to slow down this year

The Cambodian economy is expected to slow down to 2.5% in 2020 after a 7.1% growth in 2019, a statement published by the World Bank shows.

Tue, 31 Mar 2020 16:54:21 GMT

Tourism revenue in Egypt reaches $13B

The Egyptian tourism sector expanded to $13.03B in 2019, compared to $11.6B in 2018, a report published by the Central Bank of Egypt indicates.

Tue, 31 Mar 2020 16:00:22 GMT

World Bank cuts Vietnam growth forecast

The Vietnamese economy is expected to expand 4.9% in 2020, a decline from the previous estimate of 6.5%, a statement published by the World Bank shows.

Tue, 31 Mar 2020 15:29:59 GMT

China telecom companies to invest $27.8B in 5G

China's four major telecom companies plan to spend $27.8B on 5G technology this year as the country aims to deploy new infrastructure projects to offset the impact of the COVID-19 pandemic.

Tue, 31 Mar 2020 13:46:57 GMT

Xiaomi profits beat estimates

On Tuesday, Xiaomi announced that its quarterly profits had jumped by 27% and had beaten previous profit forecasts.

Tue, 31 Mar 2020 12:44:40 GMT

Stocks end bad quarter

As the last day of the quarter's trading started, global stock indices were expected to book the worst quarterly results since 2008.

Tue, 31 Mar 2020 11:43:20 GMT

State Bank of Vietnam gives advice to banks

On Tuesday, the State Bank of Vietnam stated that commercial banks need to cut operational costs, bonuses and dividends.

Tue, 31 Mar 2020 11:18:21 GMT

Huawei reports 5.6% increase in 2019 profit

China's Huawei Technologies on Tuesday reported a 5.6% increase in its 2019 profit, the smallest annual profit rise in three years, tumbled by weak international sales amid the US campaign to ban its global expansion citing security concerns.

Tue, 31 Mar 2020 09:51:06 GMT

Indonesia reveals stimulus package

On Tuesday, the President of Indonesia Joko Widodo stated that the government would spend additional $25 billion on battling the impact of the coronavirus.

Tue, 31 Mar 2020 09:17:37 GMT

Sweden's economy likely to shrink 4% this year

Swedish economy is expected to shrink 4% in 2020 due to the negative impact of the coronavirus outbreak on supply and demand, the country's Finance Minister Magdalena Andersson stated on Tuesday.

Tue, 31 Mar 2020 07:48:16 GMT

Ford, GE to make 50K ventilators in 100 days

Ford Motor is set to produce 50K ventilators during the following 100 days at its Michigan plant in cooperation with the General Electric-owned healthcare unit, aiming to build 30K ventilators per month to treat patients with the coronavirus.

Tue, 31 Mar 2020 06:50:40 GMT

Spain to put 5G spectrum auction on hold

Spain will postpone its planned 5G spectrum auction amid the coronavirus outbreak, according to the government's decision announced on Monday.

Tue, 31 Mar 2020 06:38:33 GMT

Samsung Display to terminate LCD output by 2020-end

Samsung Display, the South Korean panel maker, is planning to end the production of all its liquid crystal display panels in China and South Korea by this year's end, a spokeswoman stated on Tuesday.

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