A collapse of global oil prices that was further accentuated by the novel coronavirus pandemic has forced a 25 per cent drop in the profits of Saudi Arabia’s state-owned oil company, Saudi Aramco. For the first quarter of the year, net profits of 62.48bn riyals ($16.64bn) was reported by the most profitable company of the…
After being forced to test out work from home because of travel restrictions and lockdowns by governments all across the world to prevent the spread of the novwl coronavirus pandemic, the social media company Twitter has now directed its staff that anyone who wishes to and are able to work from home could do so…
The new novel coronavirus test that detects Covid-19 antibodies form Abbott Laboratories has been granted emergency use authorization for usage by the United States Food and Drug Administration, the company has said. The company has announced that this month, it aims to ship at least 30 million test kits and by June, the company will…
The coronavirus pandemic could lead to a 60 per cent drop in global sales of personal luxury goods in the second quarter of the current year, predicted a new report from Bain & Company. Many countries across the world have imposed strict lockdowns, asked people to stay indoors as much as possible and closed down…
Another major investment in India’s biggest tech and telecom firm Jio was announced earlier this week. This is the third time in about three weeks that the company has attracted major investment after a huge investment in the company by the social media company Facebook. An investment of almost 114 billion rupees ($1.5 billion) will…
Even after the current spate of the novel coronavirus pandemic is over, there can be “no going back to business as usual”, the World Health Organization warned world leaders on Wednesday. Many countries are hoping to kickstart their economies that have been ravaged by extended lockdowns and closure of businesses to fend of the spread…
The worldwide restrictions on travel and businesses imposed by countries to prevent the spread of the novel coronavirus pandemic has hit the business of Uber hard, prompting the company to announce its plans for slash jobs of 3,700 full-time staff – which equates to about 14 per cent of the workforce of the company. His…
According to sources familiar with the matter at hand, the Trump administration is drafting a legal blueprint for mining on the moon under a new U.S.-sponsored international agreement called the Artemis Accords. The international agreement is the latest development in the effort to cultivate allies around NASA’s plan to put humans and space stations on…
A drop in sale of its products in China could not stop Apple Inc to report growth in the first three months of the year as there was a surge in demand for its streaming services as more and more people remained confined to their homes because of the coronavirus lockdowns. Sal revenues of the…
According to analysis of data from Google, a large number of people in Brazil, Japan and Singapore in April stayed home amid the rising number of cases being reported from these countries while residents in the United States and Australia violated lockdown orders and flocked to parks and jobs with the flattening of infection rates…
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