IMF predicts deeper global downturn even as economies reopen

Washington: The International Monetary Fund warned on Wednesday that the global economy faces an even deeper downturn than it previously projected as the coronavirus pandemic continues to sow uncertainty and businesses around the world struggle to shake off the virus. The forecast underscores the scale of the task that policymakers are facing as they try […]

Hinduja brothers fight over letter dividing $11b fortune

London: A letter signed by the four Hinduja brothers is at the center of a legal dispute over the future of the family’s $11.2 billion fortune. The 2014 document says that the assets held by one brother belong to all, and that each man will appoint the others as their executors. But now Srichand Hinduja, […]

Johnson & Johnson told to pay $2.1 billion over cancer-causing talc powder

Washington: A US court has upheld a verdict that talcum powder sold by Johnson & Johnson caused ovarian cancer and ordered the pharmaceutical giant to pay $2.1 billion (Dh7.7 billion) in damages. The decision by the Missouri Court of Appeals cut by more than half the $4.4 billion a jury had awarded 22 people in 2018. […]

MAWANI launches shipping line connecting Dubai’s Jebel Ali and Egypt’s Sokhna Ports through Jeddah

Dubai: In partnership with DP World, the Dubai-based provider of worldwide smart end-to-end supply chain logistics, the Saudi Ports Authority (MAWANI) has launched the first direct shipping line connecting UAE’s Jebel Ali Port in Dubai with Egypt’s Sokhna Port through Jeddah Islamic Port. The announcement today ushers in a new era in the region’s shipping […]