Monday, 10 May 2021

Business

Britain’s economy takes 25% hit from COVID

LONDON: UK economy shrank by a quarter over March and April as entire sectors were shuttered by the coronavirus lockdown in what looks likely to be the bottom of a “catastrophic” crash before a long and slow recovery. Dwarfing previous downturns, the economy contracted by 20.4% in April from March, ...

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Glass vial makers prepare for COVID-19 vaccine

FRANKFURT/PARIS: Drugmakers are warning of a potential shortage of vials to bottle future COVID-19 vaccines, but their rush to secure supplies risks making matters worse, some major medical equipment manufacturers warn. Schott AG, the world’s largest maker of speciality glass for vaccine vials, says it has turned down requests to ...

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Pakistan’s first COVID-19 testing kit approved

ISLAMABAD: The continuous increase in the number of coronavirus positive cases coupled with the dwindling medical resources have pushed the development of domestically produced testing kits to boost Pakistan’s fight against the pandemic. The National University of Sciences & Technology (NUST) has received the much-awaited approval from the Drug Regulatory ...

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Adobe Photoshop Camera is a new filter app for iOS-Android

BIRMINGHAM: Adobe has a plethora of mobile apps for both Android and iOS. Adding to the list, the firm has published a new app called Photoshop Camera on App Store and Google Play Store. The new Adobe app is unlike any other mobile application by the company. It is targeted ...

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Oil Prices Crash On 2nd Wave Of Coronavirus

MANCHESTER: Oil has had a turbulent year. Crude prices went negative for the first time in history, followed by one of the biggest rallies the industry has ever seen. And now, just when the market is starting to seem somewhat stable, COVID-19 strikes again. A resurgence of COVID cases in ...

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Tesla shares surge past $1,000

SHANGHAI: Tesla Inc’s stock jumped above $1,000 a share on Wednesday after Chief Executive Elon Musk told his staff it was time to bring the Tesla Semi commercial truck to “volume production.” Musk, in an email seen by Reuters on Wednesday, did not specify a time frame for ramping up ...

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The Indian economy is in “dire” straits

The Indian economy is in “dire” straits as a lockdown to curb the spread of the deadly coronavirus has led to a whopping majority of households experiencing slashed incomes, a report has indicated. The report by the University of Pennsylvania’s Wharton School published Tuesday stressed on how experts are questioning the ...

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Cathay Pacific proposes $5 billion bailout

HONG KONG: Financially battered Hong Kong airline Cathay Pacific Airways has proposed the government help fund a 39 billion Hong Kong dollar ($5 billion) recapitalization plan to help it survive the coronavirus pandemic. Cathay Pacific said in a stock exchange filing on Tuesday that the plan calls for it to ...

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