Markets

BEIJING: Luckin Coffee Inc Chairman Charles Zhengyao Lu has been ousted by shareholders from the embattled coffee chain, just days after a proposal to remove him failed to get board approval, Bloomberg News reported on Sunday (Jul 5), citing Chinese web portal 163.com. Three other board directors ...

Luckin Coffee Inc Chairman Charles Zhengyao Lu has been ousted by shareholders from the embattled coffee chain, just days after a proposal to remove him failed to get board approval, Bloomberg News reported on Sunday, citing Chinese web portal 163.com.

China's Huawei has clear conditions to meet for Britain to continue to allow its involvement in the development of 5G telecoms infrastructure, Britain's health minister said on Sunday, after a report that the firm would be banned from the project.

China's Semiconductor Manufacturing International Corp (SMIC) will raise 46.29 billion yuan (US$6.55 billion) in a Shanghai share sale, more than double its initial target, pricing its offering following a surge in its Hong Kong-listed stock.

JAKARTA: An Indonesia-Australia deal that eliminates most trade tariffs between the two nations and aims to open up investment, took effect on Sunday (Jul 5), Indonesia's Trade Ministry said. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), signed last year and ...

SINGAPORE: Singapore's High Court has appointed an independent supervisor to oversee the restructuring of trader Hontop Energy. The move came after Malaysian lender CIMB, its biggest creditor, raised concerns about what it described as 'suspicious' deals involving oil major BP, according to an ...

British Prime Minister Boris Johnson is expected to begin phasing out the use of Chinese tech giant Huawei's technology in Britain's 5G network as soon as this year, The Daily Telegraph reported on Saturday.

Although crude prices have rebounded from coronavirus crisis lows, oil execs and experts are starting to ask if the industry has crossed the Rubicon of peak demand.

LONDON: Bank of England (BoE) Governor Andrew Bailey has written a letter to lenders warning them of the challenges of negative interest rates, the Sunday Times newspaper reported (Jul 5). The letter said that negative rates were "one of the potential tools under active review" if the monetary ...

Germany's economy may recover from October onwards from the coronavirus pandemic, Economy Minister Peter Altmaier said in a newspaper interview on Sunday.