BEIJING: From rural poverty to real estate billions, the fortunes of Xu Jiayin tracked China’s runaway growth for much of the past two decades-but now he is battling to save his Evergrande conglomerate from a quagmire of debt.
KUWAIT: Since around December 2019, the world has been experiencing a health crisis like no other due to COVID-19, where there was significant increase in mortality and morbidity.
NAIROBI: Kenya’s economy shrank for the first time in three decades last year as the country was battered by the coronavirus pandemic, and almost 740,000 people were thrown out of work, a new government survey said.
NEW YORK: US stocks dropped for the fourth straight day on Friday and European stocks mostly fell amid renewed fears about inflation and ebbing growth. Investor sentiment took a hit from news the UK economic recovery slowed sharply in July, growing by just 0.1 percent as rising COVID cases and supply shortages offset the end of lockdown curbs.
SAN FRANCISCO: A US judge on Friday ordered Apple to loosen control over its App Store payment system, a blow to the global tech giant sparked by its anti-trust battle with Fortnite maker Epic Games.
CARACAS: Gustavo Martinez has a stable job as an engineer at an oil company in Caracas, but he can only dream of buying an apartment because Venezuela’s inflation, the highest in the world, has crippled real estate financing.
Mid-range phones have become very popular amongst users since not everyone can afford flagship phones that tend to come with an expensive price tag.
LONDON: British airline EasyJet yesterday announced it had rejected a takeover approach, reportedly from rival Wizz Air, and revealed a $2.0-billion lifeline as the battered aviation sector looks to recover.
HONG KONG: Asian equities retreated yesterday on growing concerns about the impact of the Delta coronavirus variant, while tech giants drove a sharp sell-off in Hong Kong (HK) after China further tightened its grip on the gaming sector.
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