Category Archives: Business

Intel apologizes for asking suppliers to avoid Xinjiang

[ad_1] BEIJING – Intel Corp. apologized Thursday for asking suppliers to avoid sourcing goods from Xinjiang after the world’s biggest chipmaker joined other foreign brands that face the fury of state media over complaints of abuses by the ruling Communist Party in the mostly Muslim region. Intel’s request was “arrogant and vicious,” said […]

Dubai sees vaccination pay off with surging business

[ad_1] DUBAI, UNITED ARAB EMIRATES — Nations around the world are lurching into lockdown, steeling themselves for a brutal surge as the Omicron variant spreads like wildfire. But in Dubai, Donna Sese is bracing for a very different surge: countless restaurant bookings and metre-long drink bills. “We’re back and busy like the way things used […]

Statistics Canada set to report how economy fared in October

[ad_1] OTTAWA – The national statistics office is scheduled to say this morning what the pace of economic growth was in October, and give a first glimpse of November’s figure. Last month, Statistics Canada’s preliminary data suggested the economy grew by 0.8 per cent in October to start the final quarter of the […]

Stock market: Asian shares extend gains

[ad_1] BANGKOK – Asian shares were higher Thursday after stocks advanced on Wall Street with encouraging reports about the potential impact of the Omicron variant of coronavirus and stronger U.S. economic data. Tokyo’s Nikkei 225 gained 0.8% to 28,798.37. In Hong Kong, the Hang Seng edged 0.4% higher to 23,186.55. The Shanghai Composite […]

EU proposes rules against shell companies to fight tax abuse

[ad_1] BRUSSELS – The European Union’s executive arm proposed measures Wednesday to better detect shell companies that do not carry out any real economic activities to prevent them from receiving tax advantages and crack down on their tax abuse. The European Commission said the directive, which needs to be approved by the bloc’s […]

Tesla’s Musk says he sold ‘enough stock’; slams California for ‘overtaxation’

[ad_1] San Francisco – Tesla CEO Elon Musk said he had sold “enough stock” to reach his plan to sell 10 per cent of his shares in the world’s most valuable car company, according to an interview released on Tuesday. The billionaire, who moved the company’s headquarters from California to Texas this month […]

Stock markets: Global shares rise after Wall St rebounds

[ad_1] BEIJING – Global stock markets rose Wednesday after U.S. President Joe Biden reassured investors by calling for vaccinations and testing but no travel curbs in response to the Omicron coronavirus variant. Shanghai, Frankfurt, Tokyo and Hong Kong advanced. London opened lower. Wall Street rose after Biden announced Tuesday the government will […]