Business

Financial and economic news and analysis.

Saudi, Russia reach deal on oil cuts, raising pressure for compliance

Opec+ group is discussing keeping cuts beyond June.

Huawei hid business operation in Iran after links to CFO exposed

Newly obtained documents undermine Huawei's claims that Skycom was just a business partner.

Bursa rallies to end at nearly 4-month high

MIDF Research says the magnitude of rebound exceeded expectations as the market seems to impute a blue sky scenario with regard to post-lockdown economic recovery.

Global shares hit 3-month highs with oil above US$40

Oil prices rise, with Brent above US$40 for the first time since March.

5G spectrum award to telcos defers capex risk, says Maybank Investment

It says financial impact on these companies can only be ascertained on disclosure of the spectrum fees.

Lion Air grounded as restrictions and virus tests deter passengers

Flag carrier Garuda Indonesia said in April that its first-quarter operating revenue could drop 33%.

Australia enters recession after a record 29-year growth streak

'What we were facing was an economist's version of Armageddon', says treasurer.

Facebook, PayPal back Gojek’s digital payments push in Asia

The deal marks a major boost for Indonesia's largest start-up company.

Google takes down ‘Remove China Apps’ from its Play Store

Its popularity rose amid calls for boycott of Chinese mobile apps in India.

South Korea’s self-driving upstarts take on tech giants

Technology has been key in the country's journey to becoming the world's 12th-largest economy.

Storm season in Asia set to damage grounded planes, insurers brace...

Major airports in storm-vulnerable regions have been turned into giant parking lots.

Months after lockdown, Italy reopens to tourists from Europe

The country hopes for a revival of the key industry as the summer begins.

Facebook suspends white nationalist and fake antifa accounts

The social media giant acted quickly after some advocated weapons at current anti-racist protests.

Coronavirus brings Asia’s booming online lending sector to juddering halt

Many borrowers defaulted as economies went into lockdown to curb the outbreak.

Warner, 1 of globe’s ‘big 3’ record labels, set for imminent...

The debut on the Nasdaq comes less than a decade after it was purchased for US$3.3 bil.

Ringgit opens higher on back of stronger demand

US dollar loses appeal as investors turn to Asian currencies.

Spanish govt to sue 17 airlines over virus flight refunds

When a flight is cancelled, passengers must be offered an alternative or a refund.

Zoom revenue soars 169% as video becomes pandemic norm

But the company is under pressure to deal with security and privacy as usage rises.

TikTok has Arab Spring moment as teen activists stop dancing

Millions are turning the go-to viral platform into a first stop for youth voices amid US protests.

Swiss biotech firm to expedite production of vaccine ingredients

Lonza CEO says his firm knows the technology and feels comfortable with the manufacturing steps.

France approves €5 bil emergency loan for Renault

President Emmanuel Macron has also promised an €8 bil plan to revive France's auto industry.

Rights activists rip Facebook’s Zuckerberg over Trump comments

Social platforms have faced calls to label or remove US president's comments on violence.

India launches US$6.7 bil plan to boost electronics manufacturing

Five global smartphone makers will be given incentives to establish, expand domestic production.

S. Korea expects trials of Celltrion’s Covid-19 drug in Europe next...

Drugmakers worldwide are rushing to develop a cure for the flu-like illness.

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