Business

Dubai developer DAMAC Properties on Thursday warned it saw a difficult market for up to the next two years due to the COVID19 pandemic, as it reported a secondquarter loss of 280 million dirhams ($76.2 million).

Struggling conglomerate Thyssenkrupp on Thursday said its steel unit would rack up 1 billion euros ($1.2 billion) in operating losses this year, raising pressure to fix or sell the division.

TCS was the top gainer in the Sensex pack, rising around 2 per cent, followed by NTPC, Tech Mahindra, ONGC, SBI, Infosys and Tata Steel.

Lyft on Wednesday posted a loss of $437.1 million for the second quarter, when the coronavirus outbreak meant few people were looking to use its ridehailing service.

Global stocks rose on Wednesday and were poised to end at their highest since February, as investors kept betting on more stimulus in the United States despite doubts, while gold was whipsawed and silver clawed back from a massive drop.

The S&P 500 jumped on Wednesday, putting it just points away from its record closing high in a broad rally led by tech stocks.

Viacom and CBS Chairman Emeritus Sumner Redstone, the media mogul who took his father's movie theater chain and built it into an empire that included Paramount Pictures, CBS and MTV, has died at 97, ViacomCBS and National Amusements said on Wednesday.

Most of the fuel left on a Japanese bulk carrier that has leaked an estimated 1,000 tonnes of oil off the Mauritius coast has been pumped off, ship owner Nagashiki Shipping said on Wednesday.

Many Americans are wary of flying because of the COVID-19 pandemic. Driving is one alternative to minimize your exposure to large crowds and still get an opportunity to see some sights this summer. You can also further reduce your social contact on a road...

Gold bounced back above $1,900 per ounce on Wednesday, as weak UK data renewed fears over a coronavirusdriven economic slump and helped bullion erase initial losses fuelled by a resurgent dollar.

Britain's economy shrank by a record 20.4% between April and June, when the coronavirus lockdown was tightest, the largest contraction reported by any major economy so far, according to official figures published on Wednesday.

Under the video-KYC process, people are contacted by a bank officer through a live video call and they have to submit identity proof digitally.

New Zealand's central bank surprised markets on Wednesday by expanding its bondbuying programme and warned that policy rates might have to go below zero to revive the coronavirusbattered economy as the country was plunged back into lockdown.

A gauge of global equity markets ended little changed on Tuesday, hamstrung by a late selloff on Wall Street prompted by mounting uncertainty about more fiscal stimulus.

Brazil's central bank has adopted a new "forward guidance" strategy to keep interest rates and bond yields low, bring inflation up to target and stimulate the economy's fragile recovery from the COVID19 crisis.

Canadian Prime Minister Justin Trudeau on Tuesday said he had "full confidence" in Finance Minister Bill Morneau amid reports of a clash over policy between the two men, who also both face an ethics probe.