KUWAIT: The global economy will expand by six percent this year, but disparities between nations are widening as advanced economies accelerate while developing countries fall behind, the IMF said yesterday. 

LONDON: British department store chain Selfridges Group has been put up for sale by Canada’s Weston family for £4.0 billion ($5.5 billion, 4.7 billion euros), media reports said Monday. 

KUWAIT: The Kuwaiti Ministry of Health announced the inauguration of a COVID-19 vaccination center in Jleeb Al-Shuyoukh, in an effort to speed up the vaccination process to contain the virus spread in one of the most populated areas.

KUWAIT: Minister of Health Sheikh Dr Basel Al-Sabah briefed the Cabinet on the latest developments on global pandemic situation relating to the spread of the coronavirus and variants. 

MUMBAI: Losses at India’s Tata Motors narrowed between April and June, boosted by a 108-percent jump in revenues, the company said yesterday, even as COVID-19 lockdowns and semi-conductor shortages hit its bottom line.

ABU DHABI: Abu Dhabi will slash the cost of establishing new businesses by “more than 90 percent” from today to increase the “competitiveness regionally and internationally” of the emirate, already a magnet for commerce. 

LONDON: Coffee prices surged this week to multi-year peaks, extending stellar gains this year after frost damaged crops in the world’s biggest producer Brazil. The futures price for arabica coffee, one of the South American nation’s top commodity exports, soared Friday to just over $2 a pound, the highest level since 2014.

WASHINGTON: As rising prices and the spread of new COVID-19 variants increase risks to the US economy, Federal Reserve officials are expected to maintain their easy money policies intended to help American companies and workers survive the pandemic damage. 

EVERETT: The aviation industry appears to finally be past the worst of the coronavirus downturn, but Boeing’s to-do list remains extensive following a messy start to 2021.