COVID-19: World Bank chief warns extreme poverty could surge by 100m

Washington: The coronavirus pandemic may have driven as many as 100 million people back into extreme poverty, World Bank President David Malpass warned Thursday. The Washington-based development lender previously estimated that 60 million people would fall into extreme poverty due to COVID-19, but the new estimate puts the deterioration at 70 to 100 million, and […]

“Don’t buy Goodyear Tires”: Trump urges supporters!

US President Donald Trump has called for consumers to avoid buying Goodyear tyres after a report that the company had specifically banned attire featuring his political slogan. “Don’t buy GOODYEAR TIRES – They announced a BAN ON MAGA HATS,” Trump tweeted. His call to ban products from the company – with headquarters in Ohio, a […]

US weekly jobless claims record sudden spike to 1m plus

Washington: Applications for US unemployment benefits unexpectedly increased last week, a stumble for the labor market in its long road to recovery. Initial jobless claims in regular state programmes rose by 135,000 to more than 1.1 million in the week ended August 15, US Labor Department data show. Continuing claims – the total number of […]

Cash-rich DP World acquires Indian feeder operators, records revenues of $4 billion plus in first-half of 2020

Dubai: Dubai’s DP World had revenues of $4 billion plus in the first six months of 2020, representing a 17.7 per cent gain over last year. The increases were brought on by recent acquisitions the ports operator had across global hubs. But on a like-for-like basis, revenues were down 11.6 per cent, and down by 3.4 […]