German sportswear maker Adidas said Wednesday store closures in China had brought plummeting sales since the beginning of the novel coronavirus outbreak in late January. "Our business activity in Greater China has been around 85 percent below the prior year level since Chinese New Year on...

Washington has the right to block US federal agencies from buying products by Huawei on cybersecurity grounds, a judge ruled Tuesday, dismissing the Chinese telecom giant's legal challenge to a purchase ban. Huawei filed the suit last year and claimed Congress had failed to provide evidence...

Jeff Bezos, the CEO of the e-commerce giant Amazon, announced the launch of Bezos Earth Fund and promised $10 billion donation for fighting against climate change. "I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of...

European Union finance ministers added Panama, the Seychelles, the Cayman Islands and Palau to the bloc's blacklist of tax havens, while giving more time to Turkey to avoid listing despite shortfalls, an EU document said Tuesday. The list, which was set up in 2017 after revelations of...

The Trump administration is considering changing U.S. regulations to allow it to block shipments of chips to Huawei Technologies from companies such as Taiwan's TSMC, the world's largest contract chipmaker, two sources familiar with the matter said. New restrictions on commerce with China's...

Apple is to miss its revenue forecast for the March quarter due to the coronavirus epidemic, the US tech giant said Monday, warning that iPhone supplies worldwide would also be impacted, underlining the economic cost of the health crisis. The COVID-19 virus death toll now exceeds 1,800 in...

The United States' ambassador to Germany said Sunday that President Donald Trump had threatened to cut off intelligence-sharing with countries that dealt with Chinese tech firm Huawei. Washington has been pressing allies to ban Huawei, one of the world's largest tech firms, from...

Lebanon’s state-owned carrier Middle East Airlines (MEA) will only accept payment in U.S. dollars from Monday, the National News Agency reported, as the country grapples with a foreign currency liquidity crisis. The decision reported late on Saturday and confirmed to Reuters by an MEA...

(Eqtsad)- From where is the Syrian currency entering the opposition-held northwestern areas, specifically the newly issued 2,000-pound banknote and how exactly did it invade the markets so quickly?  These questions have dominated the Syrian North for the past weeks, especially with...

France Thursday said Chinese telecommunications firm Huawei would not be excluded from supplying equipment for 5G networks in the country but could be subject to restrictions and Paris could prioritize European operators. "There is no discrimination towards Huawei... No, Huawei will not be...

Oil prices were mixed on Thursday as concerns about falling demand caused by travel restrictions tied to the coronavirus outbreak in China, the world’s biggest oil importer, outweighed expectations of supply cuts from major producers. Brent crude LCOc1 fell 8 cents, or 0.1%, to $55.71 per...

Saudi Arabia’s main stock index dropped for a third day, finishing below a mark it has held since December, as the coronavirus reduces demand for oil. The Tadawul index fell 1.3 percent, the most among major gauges in the Middle East and below its 100-day moving average for the first time...

The Turkish lira rebounded Monday in volatile trade to below 6 against the dollar, erasing much of Friday's sharp losses, after a bank regulator announced new limits on foreign-exchange transactions. Investors and traders said the currency's abrupt selloff and recovery, after weeks in a...

- Iraq’s Basra Oil Co will cut crude oil output at the Nahr Bin Omar field to a minimum because of pollution and gas emissions, state news agency reported on Sunday. The company’s Director General Ihsan Abduljabbar said: “Nahr Bin Omar oilfield is considered one of the most controversial...

  (EQTSAD)- A 65-million-euro contract with the Iranian ArdMachine company to construct five wheat flour mills in Syria, come to surface over low quality standards as first mill got out of service.  The first mill in Umm al-Zaytun town in southern Sweida province was launched...

(Zaman Al Wasl)- Coronavirus will have a major impact on the Syrian economy amid cut in the Chinese production and exports, according to Syrian business portal. Majed Sharaf, the director of Al Joudeh Group for Studies and Consultation, told  Al-Iqtisadi that the Syrian economy may...

South Africa aims to free up over a billion dollars in stalled weapons sales, including to Saudi Arabia and United Arab Emirates, by amending a document at the heart of an export row, a senior arms control official told Reuters. Local defence firms have lobbied the government for months to...

Russia on Thursday rejected proposals to slash crude output at an OPEC+ meeting, media reported, and asked for more time to assess the impact of a new coronavirus on crude prices. Delegates of the Organization of the Petroleum Exporting Countries and non-member Russia -- together known as...

Oil prices jumped by more than 3% on Wednesday on reports that scientists have developed an effective drug against the fast-spreading coronavirus that has weighed heavily on global economic activity. News that the Organization of the Petroleum Exporting Countries and its producer allies are...

Lebanon's cash-strapped authorities are struggling to decide what to do about a $1.2 billion Eurobond maturing in March but are leaning towards repayment for foreign holders and a swap for local investors, political and banking sources said on Tuesday. Lebanon, which has never defaulted on...