Business

Norwegian Air To Seek Bankruptcy Protection In Norway

Embattled low-cost carrier Norwegian Air Shuttle, which recently filed for bankruptcy protection in Ireland, said Tuesday it had launched a similar process in Norway. Burdened with massive debt after an ambitious expansion programme and suffering from the Covid-19 pandemic that has paralysed global air traffic, Europe’s third-biggest no-frills airline is now fighting for its survival. An Irish court on Monday …

Read More »

JD.com Health Arm Rockets 75% On Hong Kong Debut

The medical arm of Chinese e-commerce giant JD.com soared 75 percent on its debut in Hong Kongon Tuesday, valuing the company at $50 billion, as investors bank on the pandemic boom in digital health services. While the coronavirus has left national health services stretched, demand for digital healthcare providers like JD Health grew on the back of the virus. The …

Read More »

Biden Picks General Lloyd Austin As First Black Pentagon Chief

President-elect Joe Biden has chosen Lloyd Austin, who led US troops into Baghdad in 2003 and rose to head the US Central Command, as the first African-American secretary of defense, US media reported Monday. A veteran of conflicts in Iraq and Afghanistan, the retired four-star army general, 67, beat out the favorite for the job, former under-secretary of defense Michele …

Read More »

Equities Mixed With Focus On Vaccine, Virus, Stimulus And Brexit

Stock markets swung Tuesday as investors weighed the rollout of vaccines and hopes for US stimulus talks against soaring virus cases and China-US tensions, while the pound dipped with post-Brexit trade talks on a knife-edge. While Britain started its mass vaccination programme and the US is preparing to approve inoculations soon, the disease continues to run rampant across the United …

Read More »

Bomb Strikes WWI Memorial At Saudi Cemetery

A bomb blast struck a World War I commemoration participated in by Western diplomats in the Saudi city of Jeddah Wednesday, leaving a minimum of two people injured in the 2nd attack on diplomatic objectives in current weeks, authorities said. The attack at a non-Muslim cemetery comes less than a month after a guard at the French consulate in Jeddah …

Read More »

Ethiopia Bombs Tigray Arms Depots, Thousands Run Away Fighting

Ethiopia’s air force said Wednesday it had actually bombed arms and fuel depots in the northern area of Tigray, as an escalation in combating prompted thousands more people to seek refuge in neighbouring Sudan. Prime Minister Abiy Ahmed sent troops and warplanes into the federal state of Tigray last week after a months-long fight with its ruling celebration, which he …

Read More »

Erdogan Woos Investors With Vow Of Painful Reforms

Turkish President Recep Tayyip Erdogan wooed sceptical financiers Wednesday with a guarantee of uncomfortable reforms, throwing his full assistance behind a new financial team set up after his effective son-in-law stopped. In remarks that saw the Turkish lira gain more than three percent versus the dollar, Erdogan told parliament he was prepared to “make sacrifices and swallow a bitter tablet” …

Read More »

Trump To Make First Appearance Since Losing Election To Biden

United States President Donald Trump makes his very first main post-election look Wednesday for what should be a minute of nationwide unity to mark Veteran’s Day, now spoiled by his rejection to acknowledge Joe Biden’s win. The president was to visit Arlington National Cemetery around 11:00 am, 4 days after US media forecasted his Democratic rival would take the White …

Read More »

Honda Wins Worldfirst Approval For Level 3 Autonomous Cars And Truck

Honda on Wednesday won approval to offer Level 3 self-governing cars and trucks in Japan, in what the automaker and Japanese authorities said was a world-first. The auto giant said it prepared to put the automobiles, efficient in taking over driving in circumstances such as a hectic highway, on sale prior to next March. Lorry autonomy is categorized along a …

Read More »

European Stocks Extend Gains On Vaccine, Biden

Europe’s major stock exchange climbed up Wednesday, extending today’s bumper gains sustained by a promising coronavirus vaccine trial and Joe Biden’s United States election triumph. London stocks gained 0.6 percent heading towards midday, while Frankfurt increased by 0.5 percent and Paris likewise added 0.6 percent in early afternoon trade. Oil costs rose greater on energy demand hopes, while the dollar …

Read More »