Coronavirus: Singapore plunges into recession as economy shrinks 41%

Singapore: Singapore plunged into recession in the second quarter as growth fell 41.2 per cent quarter-on-quarter with the trade-dependent economy hammered by the coronavirus, preliminary data showed Tuesday. Year-on-year, the economy shrank 12.6 per cent between April and June, according to the data from the trade ministry, as strict curbs were imposed to fight the […]

Keeping a tab on consumer data in 2020

Last month, Dubai Chamber of Commerce and Industry published an analysis based on Google Trends. During Covid-19 the chamber found that residents were increasingly turning to online shopping. According to Mastercard, in April 2020, online card payments in the UAE experienced year-on-year growth of 316 per cent. With the pandemic driving an ever greater number […]

Solid bookings for Disney’s Florida theme parks on reopening

New York: Josh D’Amaro, the chairman of Walt Disney Co.’s theme parks business, said he’s very happy with booking trends, both now and into next year, as the company began reopening its resorts in Florida on Saturday. Disney, the world’s largest theme park operator, opened its Magic Kingdom and Animal Kingdom parks to the general […]

Wizz Air Abu Dhabi to operate first flights in October

Abu Dhabi: Wizz Air Abu Dhabi on Sunday said it would start operating its first flights in October, with six destinations announced for the low budget airline’s initial flights. Based out of Abu Dhabi International Airport, the flights will be operated by the airline’s two brand new Airbus A321 neo aircraft, with its network of […]

Google could be next in line for stake in India’s Jio

Mumbai: Alphabet Inc’s Google is in advanced talks to invest $4 billion for a stake in the digital arm of Indian conglomerate Reliance Industries Ltd.. An announcement could come as soon as the next few weeks, according to the report. Investors, including Facebook and KKR & Co, have already poured in a combined $15.64 billion […]