Business

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On August 1, the group of ministers on COVID-19 has considered and agreed to the proposal of the Ministry of Health and Family Welfare to allow the export of made-in-India ventilators.

Sri Lanka's economy contracted by 1.6% in the first quarter of 2020, government data showed, as lockdowns related to the COVID19 pandemic battered a country still recovering from last year's Easter Sunday bomb attacks.

Ralph Lauren Corp said on Tuesday its quarterly revenue plunged by nearly $1 billion, as it struggled with coronavirusled store closures and a slowdown in demand for luxury goods across the world.

Typically a boon for emerging markets, this year's plunge in the U.S. dollar may fail to boost the developing world's prospects as the raging pandemic hits economic activity, increases poverty and exposes weak policymaking.

European shares were mixed on Tuesday after company earnings reports, and the dollar's rebound stalled as investors waited for talks about government aid in the United States to make progress.

The European Central Bank is committed to supporting the euro zone's economy amid the coronavirus pandemic, using its massive bond purchases as its main tool, chief economist Philip Lane said on Tuesday.

ADNOC Logistics and Services (ADNOC L&S), a subsidiary of the Abu Dhabi National Oil Company (ADNOC) said on Tuesday it had formed a shipping joint venture with Wanhua Chemical Group.

Nippon Steel Corp said on Tuesday it will appeal a South Korean court ruling that allows for a seizure of its assets, as tensions between Tokyo and Seoul over the case threaten to flare up again.

Diageo Plc, the world's largest spirits maker, reported a biggerthanexpected decline in underlying net sales on Tuesday as demand for its whiskies, vodka and gin fell in all markets except North America.

The valuation of Asian shares surged to a more than 101/2year high in July, Refinitiv data showed, as recordlow interest rates and abundant government stimulus helped offset worries over the economic impact of the COVID19 pandemic.

The U.S. economy, battered by a resurgence in the spread of COVID19, needs increased government spending to tide over households and businesses and broader use of masks to better control the virus, U.S. central bankers said on Monday.

Tyson Foods Inc named its president, former technology executive Dean Banks, as its new chief executive on Monday as the meatpacker faces unprecedented disruptions from the COVID19 outbreak.

Oil prices rose about 2% on Monday on positive economic data from Europe, Asia and the United States, but rising COVID19 cases globally and oversupply worries fuelled by the prospect of OPEC and its allies easing output cuts limited gains.

The dollar rallied and equity markets rose on Monday as investors welcomed upbeat manufacturing data from around the world and as Microsoft's pursuit of TikTok's U.S. operations bolstered the redhot technology sector.

U.S. manufacturing activity accelerated to its highest level in nearly 11/2 years in July as orders increased despite a resurgence in new COVID19 infections, which is raising fears about the sustainability of a budding economic recovery.