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  • Global Business

    Disney to lay off more employees

    Walt Disney Co. has unveiled its plan to lay off about 32,000 employees, up from the previously announced 28,000 job cuts in September, as the raging Covid-19 pandemic continues a heavy toll on its theme park businesses.The redundancies will take place in the first half of 2021, most of which will come in the company's theme park division, Xinhua news agency quoted the entertainment giant's filing with...

    • 8 hrs ago
  • Global Business

    China to further promote consumption upgrade

    China will further boost its consumption upgrade and maintain a stable market in 2021, according to the Ministry of Commerce (MOC).The MOC called for a consumption upgrade in both urban and rural areas, the transformation of more cities into international consumption centers, and enhanced e-commerce development in rural areas.

    • 8 hrs ago
  • Global Business

    China to impose anti-dumping measures on Australian wine

    China's Ministry of Commerce said on Friday it would impose anti-dumping measures on wine imports from Australia.The domestic industry has been subject to substantial damages due to the dumping of those products, the Ministry said in a preliminary ruling posted on its website.Starting Saturday, importers of Australian wine will be required to pay deposits ranging from 107.1 per cent...

    • 8 hrs ago
  • Global Business

    EU urges Afghan Peace Council to 'include diverse membership'

    The European Union (EU) delegation and the EU Heads of Mission based in Kabul have urged for a "swift establishment" of the Afghan High Council of National Reconciliation,the body designated to provide "guidance" to the ongoing peace negotiations.The statement came at a time Afghan and the Taliban delegations in Qatari capital Doha continue to struggle on...

    • 8 hrs ago
  • Global Business

    Pakistan joins Saudi-led initiative for digital cooperation

    Pakistan has joined the Digital Cooperation Organisation (DCO), a Saudi-led initiative, aimed at promoting digital cooperation among member states, Foreign Minister Shah Mahmood Qureshi announced.Taking to Twitter on Thursday night, Qureshi said: "Digital Diplomacy is an integral part of my Public Diplomacy Initiative under #VisionFO. Today, I am pleased to announce (Pakistan)...

    • 8 hrs ago
  • Global Business

    Samsung's global smartphone profits largest in 6 years in Q3

    Samsung Electronics narrowed the gap with Apple in terms of profit shares in the third quarter, with more than 30 per cent smartphone market share globally, a new report said on Friday.The South Korean tech giant accounted for a 32.6 per cent share of profits worldwide generated from the smartphone segment in the third quarter, up from a 18.8 per cent share a year earlier, according to...

    • 9 hrs ago
  • Global Business

    Xi addresses opening ceremony of China-ASEAN Expo

    Chinese President Xi Jinping on Friday addressed the opening ceremony of the 17th China-ASEAN Expo and China-ASEAN Business and Investment Summit via video.The annual expo, and the business and investment summit between China and the Association of Southeast Asian Nations (ASEAN) is held in Nanning, capital city of south China's Guangxi Zhuang Autonomous Region, the Xinhua news agency...

    • 9 hrs ago
  • Global Business

    Iran's Covid-19 cases top 900,000

    Iran's Health Ministry reported 13,961 new Covid-19 cases on Thursday, taking the total nationwide infections to 908,346.The pandemic has so far claimed 46,689 lives in Iran, up by 482 in the past 24 hours, said Sima Sadat Lari, spokeswoman for the Iranian Ministry of Health and Medical Education during her daily briefing.

    • yesterday
  • Global Business

    Vietnam reports 10 fresh Covid-19 cases

    Vietnam reported 10 new Covid-19 cases on Thursday, pushing the total confirmed infections to 1,331 with 35 deaths from the disease so far, according to its Ministry of Health.The new cases, who are all Vietnamese citizens, recently entered the country from abroad and were quarantined upon arrival, said the ministry.

    • yesterday
  • Global Business

    Second Covid wave further weakens Germany's consumer climate: Study

    The second Covid-19 wave "dealt a blow" to consumer climate in Germany and the forward-looking consumer-sentiment index fell from minus 3.2 points in November to minus 6.7 points in December, according to a monthly study published on Thursday by market research institute GfK.Consumer sentiment in Germany was "significantly dampened" by the partial lockdown...

    • yesterday

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