Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said. Under Lee's leadership, Samsung rose to become the world's largest producer of smartphones and memory chips, and the firm's overall...

The United States and China dealt with the spread of the devastating coronavirus pandemic in vastly different ways, and that split is reshaping the global battle between the world's two leading economies. About 11 months after the Wuhan outbreak, China's official GDP numbers this week show...

A new wonder is rising in the southern desert of Dubai against the backdrop of Persian Gulf beaches, but it's not another skyscraper to grace the futuristic sheikhdom. Instead, it's one of mankind's oldest power sources gaining its own space on the oil-rich Arabian Peninsula - a coal-fired...

The U.S. Justice Department filed an antitrust lawsuit against Alphabet Inc's GOOGL.O Google on Tuesday, claiming the $1 trillion company uses its market power to fend off rivals and said nothing was off the table, including a breakup of the internet search and advertising company. The...

Oil producer group OPEC+ will meet Monday to discuss the weakening demand outlook in the face of rising coronavirus infections as well as increased output from Libya but is unlikely to recommend immediate action, OPEC+ sources said. An OPEC+ joint ministerial monitoring committee,...

Turkey’s president has announced the discovery of an additional 85 billion cubic meters of natural gas reserves in the Black Sea. Speaking aboard the drill ship Fatih Saturday, President Recep Tayyip Erdogan said explorations in the Tuna-1 well were complete after reaching a depth of 4775...

Turkey's president said on Wednesday that the country had found new natural gas reserves in the Black Sea. Speaking to the parliamentary group of his ruling Justice and Development (AK) Party, Recep Tayyip Erdogan said the July 20 find of 320 billion cubic meters in reserves by Turkey's...

China's imports grew at their fastest pace this year in September, while exports extended strong gains as more trading partners lifted coronavirus restrictions in a further boost to the world's second-biggest economy. Exports in September rose 9.9 percent from a year earlier, customs data...

Turkey's central bank, faced with a record-low currency and widening current account deficit, further left behind ultra-loose measures adopted during the coronavirus pandemic when it raised Monday the remuneration rate on required lira reserves. The weakness of the lira, near an all-time...

Libya’s national oil company announced Sunday it is resuming production at the country’s largest oil field as rival officials from eastern and western Libya began peace talks, part of preliminary negotiations ahead a U.N.-brokered dialogue set to take place next month. The National Oil...

Turkey's leading business groups urged Saudi Arabia Saturday to take action to improve trade relations as Turkish firms encounter growing problems in doing business with the Gulf Arab state. Saudi Arabia and Turkey have been at odds for some years over foreign policy and attitudes towards...

The US dollar is making a comeback as the favored currency in communist-run Cuba as the country prepares to devalue the peso to relieve pressure on a battered economy. Cuba has a unique system whereby two official currencies have existed side-by-side for nearly three decades, the Cuban peso...

 The week that Israel and the United Arab Emirates normalised ties, Israeli diamond trader Zvi Shimshi headed to the United Arab Emirates to open a company in Dubai, a regional trade hub that is a major centre for the precious stones. He is among 38 Israelis whom the Dubai Multi...

New York-based Delta Children, which makes cribs in China for retailers such as Walmart, briefly studied moving production to the United States as supply shortages caused by the COVID-19 pandemic added to its hefty bill from US import tariffs. Commerce Secretary Wilbur Ross predicted in...

North Korean leader Kim Jong Un has ordered a nationwide drive to boost the ailing economy ahead of a key party congress in January, state media reported Tuesday. The decision was made during a meeting of the ruling Workers' Party and comes as the coronavirus pandemic and recent floods have...

Wall Street futures climbed in pre-market trading Monday, with investors seemingly unperturbed by US President Donald Trump's hospitalization after announcing he'd tested positive for coronavirus last week. About an hour before trading was to begin, the benchmark Dow Jones Industrial...

The Dubai-based construction company that helped build the world's tallest building and other engineering marvels in the United Arab Emirates announced Thursday it would enter liquidation, the final step in a long collapse from the country's economic crisis a decade ago hastened by the...

U.S. Secretary of State Mike Pompeo delivered a warning to Italy over its economic relations with China on Wednesday, and described Chinese mobile telecoms technology as a threat to Italy’s national security and the privacy of its citizens. “The foreign minister and I had a long...

Saudi Arabia's economy shrank by 7% in the second quarter, a sign of how deeply the new coronavirus hit both the oil and non-oil sectors, while unemployment hit a record high of 15.4%, official data showed on Wednesday. The world’s largest oil exporter is facing a deep recession after the...

Telecoms company Huawei Technologies is part of China’s surveillance state, complicit in human rights abuses, a senior U.S. official said on Tuesday, as Washington renewed pressure on Europe to ban the company from fifth-generation (5G) networks. Keith Krach, the undersecretary of state for...