More job cuts ‘stifling’ early recovery for UAE economy, says IHS Markit

Dubai: Job cuts are “stifling” an earlier recovery for the UAE economy even as private businesses reported more improvements in new orders during August. But overall private sector sentiments slipped in August for the first time in three months, according to data from IHS Markit. “Growth in business activity slowed from July and was marginal,” […]

India’s economy contracts 23.9% between April to June, and its worst ever

Mumbai: India’s economy contracted by the most on record last quarter as the world’s biggest lockdown to stem the pandemic brought key industries to a halt and rendered millions of people jobless. Gross domestic product shrank 23.9 per cent in the three months to June from a year earlier, the Statistics Ministry said in a […]

Samsung supremo J.Y. Lee indicted for stock manipulation

Seoul: South Korea’s prosecutors indicted Samsung Electronics Co.’s de facto leader Jay Y. Lee on allegations including stock manipulation, potentially putting the head of the world’s largest electronics corporation on trial for years. The Seoul Central District Prosecutors’ Office indicted 11 people, including Lee and former Samsung executives. Charges include the violation of capital market […]