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World Business

A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers.

China factory activity sees fastest growth in decade: survey

BEIJING: Activity in China’s factories expanded at its fastest pace in a decade last month, data showed Tuesday, the latest sign that the world’s number two economy is well on track to recovery from the coronavirus. The purchasing managers index released by Chinese media group Caixin came just a day after official PMI figures showed growth at its fastest in ... Read More »

Asia markets extend rally into the weekend

HONG KONG: Asian markets maintained their upward momentum Friday, heading into the weekend on a strong note with investors continuing to take heart from the prospect of vaccines being rolled out in the next few weeks. Hopes are high that with at least three inoculations in the pipeline, life can begin to get back to normal next year and give ... Read More »

Asian markets mixed as virus, weak data subdue vaccine rally

HONG KONG: Asian traders took a breather Thursday after this month’s vaccine-fuelled markets rally, with profit-takers moving in while keeping an eye on virus infections across the globe that are forcing governments to impose containment measures. With at least three inoculations in the pipeline and possibly rolled out within weeks, the general mood on trading floors is upbeat for 2021, ... Read More »

Global stocks hit  record high as Biden, vaccine lift global prospects

TOKYO/WASHINGTON: World shares rallied to a record peak on Wednesday, following an overnight surge that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook. The formal start of U.S. president-elect Joe Biden’s transition to the White House and increasing confidence a COVID-19 vaccine would be ready soon ushered in renewed ... Read More »

Asia stocks lifted as Biden gets White House access

HONG KONG: Most Asian markets rose Tuesday as news that Donald Trump’s team will now work with Joe Biden to begin his transition into the White House built on optimism that vaccines could soon be rolled out around the world. However, the mood on trading floors continues to be tinged by surging virus infections and deaths that have forced governments ... Read More »

WTO aiming to net fishing deal

GENEVA: Negotiations on banning billions of dollars in fisheries subsidies are coming to the crunch at the beleaguered World Trade Organization, with the deadline to net a deal fast approaching. Disagreements persist, especially over what the outcome might mean for developing countries, while over-fishing continues to strip the seas of a hugely important resource on which millions of people depend ... Read More »

G20 to discuss post-pandemic world, back debt relief

BRUSSELS: Leaders of the 20 biggest world economies (G20) will debate this weekend how to deal with the unprecedented Covid-19 pandemic that has caused a global recession and how to manage the recovery once the coronavirus is under control. High on the agenda are purchases and global distribution of vaccines, drugs and tests for low income countries that cannot afford ... Read More »

Google to integrate bank accounts in payments app

CALIFORNIA: The internet giant Google said that it would be partnering with commercial banks and credit unions starting next year to allow users to manage mobile-based accounts through the Google Pay platform, in the latest move by tech giants into consumer finance. “People do almost everything on their phones today, but for many, the way they save, pay and engage ... Read More »

Asian markets mixed as lockdown reality offsets vaccine hope

HONG KONG: Stocks were mixed in Asia on Thursday as a global rally fuelled by vaccine optimism petered owing to the brutal reality of surging infections that are forcing fresh lockdowns and threatening to shock the global economy again. While the broad consensus is that 2021 will see a healthy recovery across the world as people are gradually inoculated, traders ... Read More »

Oil rises on hopes for delay in OPEC+ supply increase

TOKYO: Oil prices edged higher on Wednesday as hopes that OPEC and its allies will delay a planned rise in oil output offset demand fears stoked by a bigger-than-expected build in U.S. crude stocks and weaker U.S. retail sales. Brent crude futures for January rose 22 cents, or 0.5%, to $43.97 a barrel by 0733 GMT, while U.S. West Texas ... Read More »

European equities steady at open

LONDON: European stock markets held steady in opening deals on Tuesday, as dealers paused for breath following the previous day’s vaccine-driven gains. In initial trade, London’s benchmark FTSE 100 index of major blue-chip companies was down 0.1 percent at 6,413.58 points. In the eurozone, Frankfurt’s DAX 30 added almost 0.1 percent to stand at 13,145.27 points, while the Paris CAC ... Read More »

Asian stocks hit record peak as vaccine hopes dampen virus fears

SYDNEY: Asian stocks hit a record high on Monday as vaccine optimism and strong economic data from China and Japan outshone worries about rising coronavirus cases, lifting just about every sector. MSCI s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 1% to hit its highest since its launch in 1987 with markets across the region making milestone peaks. ... Read More »

Wall Street ends volatile week with gains, S&P at record

NEW YORK:After an unpredictable week, Wall Street finished Friday on a high note, shrugging off concerns over the surge in Covid-19 cases and new pandemic restrictions that threaten to slow the US economy. The benchmark Dow Jones Industrial Average rose 1.4 percent to close at 29,479.81. The broad-based S&P 500 also added 1.4 percent to 3,585.15, a new record, while ... Read More »

Trump administration readies crackdown on US investments in Chinese firms

WASHINGTON: The Trump administration is finalizing an executive order to prohibit US investments in Chinese firms that Washington says are owned or controlled by the Chinese military, according to three sources familiar with the matter, in a bid to ramp up pressure on Beijing after the US election. The order, which could impact some of China’s biggest companies, including telecoms ... Read More »

European stocks steady at open after huge gains

LONDON: European stocks steadied at the open Tuesday following massive gains the previous session mostly on coronavirus vaccine hopes as well as Joe Biden’s US election victory. London’s benchmark FTSE 100 index gained 0.2 percent to 6,198.29 points. In the eurozone, Frankfurt’s DAX 30 index added 0.1 percent to 13,114.79 points and the Paris CAC 40 gained 0.3 percent to ... Read More »

Equities rally after Biden declared winner of US vote

HONG KONG: Stocks, oil and high-yielding currencies rallied Monday after Joe Biden was declared winner of the US election at the weekend, lifting a major source of uncertainty, while traders are hoping lawmakers will now focus on passing a new stimulus for the world’s biggest economy. While Donald Trump has yet to concede and has launched several legal challenges, it ... Read More »

Oil falls as coronavirus cases rise and US vote count continues

LONDON: Oil fell towards $40 a barrel on Friday as new lockdowns in Europe to halt surging Covid-19 infections sparked concern over the demand outlook while drawn-out vote counting in the US election kept markets on edge. Italy recorded its highest daily number of Cocid-19 infections on Thursday while cases surged by at least 120,276 in the United States, the ... Read More »

European stocks steady at open after strong gains

European stocks steady at open after strong gains LONDON: European stock markets steadied at the start of trading on Friday after strong gains across the week for global equities on US election developments. London’s benchmark FTSE 100 index opened flat at 5,904.91 points. In the eurozone, Frankfurt’s DAX 30 index dipped 0.2 percent to 12,537.46 points and the Paris CAC ... Read More »

Tokyo stocks close higher with eyes on US election

TOKYO: Tokyo stocks closed higher Thursday, as a result in US presidential election appeared imminent. The benchmark Nikkei 225 index ended up 1.73 percent or 410.05 points at 24,105.28 while the broader Topix index was up 1.39 percent or 22.69 points at 1,649.94. The prospect of an election win for Joe Biden was fuelling the gains, Okasan Online Securities chief ... Read More »

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