The great diamond glut: Miners stuck with gems worth billions

In one of the world’s biggest diamond vaults, hidden inside a nondescript office compound on the dusty outskirts of Botswana’s capital, the precious stones just keep piling up. Owner De Beers, which mines and auctions most of its gems in the southern African nation, has barely sold any rough diamonds since February. Neither has Russian […]

Singapore’s future won’t look like the one before Coronavirus

Singapore: Singapore won’t return to the open and connected global economy that existed before the island nation went into a partial lockdown two months ago due to the outbreak of the coronavirus, Prime Minister Lee Hsien Loong said. Singaporeans will have to prepare for a different, admittedly tougher future with rising unemployment as companies work […]

Sweden didn’t lock down, but economy to plunge anyway

Stockholm: Unlike most countries, Sweden never locked down during the coronavirus pandemic, largely keeping businesses operating, but the economy appears to be taking a hard hit nonetheless. Under the Scandinavian country’s controversial approach to the virus, cafes, bars, restaurants and most businesses remained open, as did schools for under-16s, with people urged to follow social […]

TikTok lookalike Zynn brings Chinese video app rivalry to US

Beijing: Chinese short video app makers have taken their rivalry overseas, with TikTok facing stiff competition from a newcomer that has surged in popularity abroad – by paying users to keep scrolling. Zynn, a product of China’s number-two video app maker Kuaishou, launched in May and became the most popular free app in the US […]

An Amazon deal would throw a lifeline to India’s Bharti Airtel

New Delhi: Amazon.com Inc. is in preliminary talks to buy a stake in No. 2 Indian carrier Bharti Airtel Ltd. for at least $2 billion, joining Facebook Inc. and other US giants in betting on one of the world’s fastest-growing internet arenas. The US online retailer is in early-stage discussions to buy about a 5 per cent stake in […]