IMF: US economy will drop 6.6% in 2020 in face of pandemic

Washington: The International Monetary Fund predicted Friday that the U.S. economy will shrink 6.6% this year, pounded by the coronavirus and the lockdowns meant to contain it. The grim forecast is actually an upgrade from one the IMF made last month when it foresaw the American economy contracting 8% in 2020. But the 189-country lending […]

Facebook’s top advertiser Disney cuts ad spending

New York: Walt Disney Co., the No. 1 advertiser on Facebook Inc., has “dramatically slashed” spending on the platform, the Wall Street Journal reported, citing people familiar with the situation. The move comes as a growing list of companies, including Coca-Cola Co. and Verizon Communications Inc., halted spending on the platform amid criticism of the […]

Better than expected Mercedes-Benz sales give Daimler a lift

Stuttgart: Daimler AG said a late-quarter recovery in demand spared the Mercedes-Benz maker from losing as much money as analysts were expecting.  Daimler reported a preliminary deficit of 1.68 billion euros ($1.9 billion) before interest and taxes in a statement. That beat a consensus estimate of 2.1 billion euros provided by the German manufacturer, which […]

Young residents invited to free cricket masterclasses

If your child fancies themselves as the next Sachin Tendulkar or MS Dhoni, this month there is an opportunity for them to move a significant step closer to achieving that cricketing dream. Young cricket fans aged between 12 and 19 are invited to free online Zurich Batting Masterclasses this July. The next generation of aspiring […]

Covid-19: IKEA’s Hyderabad store shut down again

Hyderabad: Swedish home furnishing multinational IKEA shut down its store in Hyderabad from Saturday in the wake of the spike in Covid-19 cases in the city. Forty days after re-opening the store, the retail giant has once again downed the shutters. The move came amid growing number of coronavirus cases in Hyderabad. “We are temporarily […]