TABUK, Saudi Arabia—This desert kingdom is pushing ahead with multibillion-dollar plans to build a spate of new cities despite the coronavirus pandemic and depressed oil prices, betting that projects closely associated with the crown prince will kick-start its economic recovery. The developments include a futuristic city-state called Neom in the country’s remote northwest Tabuk province, … Read more
BEIJING—As the rest of the world struggles to contain the coronavirus, China’s recovery is gaining momentum, positioning it to further close its gap with the U.S. economy. Across China, restaurants and gyms are busy again. Subway cars and airport departure lounges are packed. Children are preparing to return to classrooms with few of the restrictions … Read more
TOKYO—After nine months of a shrinking economy, Japan has dug itself into a deep hole that it might not emerge from for at least two years. The world’s third-largest economy after the U.S. and China was smaller in real terms in the second quarter of 2020 than it was in the final quarter of 2012, … Read more
TOKYO—The Japanese economy shrank less than the U.S. and European economies did in the April-June quarter, but it fared worse than Asian counterparts. Japan’s gross domestic product fell 7.8% in the second quarter of 2020 compared with the previous quarter, the worst drop on record in the period since 1980, when comparable data began to … Read more
KYOTO, Japan—The bustle of tourists has disappeared from this ancient capital—only to be replaced by dissension over whether they should ever be welcomed back. Mimiko Takayasu, 80 years old, is proprietress of a century-old tea house where geisha entertain wealthy Japanese with traditional music and dance. Until the coronavirus pandemic, the streets of Gion, Kyoto’s … Read more
Of course, we could have done better. But what is better than being a united and optimistic nation? Synopsis In 1947, agriculture accounted for 54% of India’s GDP. In 2019, it is at about 13%. But at the time of Independence, 60% of India depended on agriculture for a living. In 2017, it is about … Read more
DUBAI/WASHINGTON: The UAE and Israel on Thursday agreed to establish full diplomatic relations in a deal brokered by US President Donald Trump, a breakthrough the three nations say will advance peace in the Middle East and result in Jerusalem suspending its plans to annex large parts of the occupied West Bank. “This historic diplomatic breakthrough … Read more
This year you may actually end up underestimating the earnings and this quarter till now has demonstrated just that, says CIO, ValueQuest Investment Advisors. How do you think this market will manage to climb the wall of worry?As long as the worries persist I guess. The way I think about this market is that the … Read more
New Delhi: Prime Minister Narendra Modi on Thursday held a brainstorming session with financial sector regulators and discussed various measures to revive the economy hit hard by COVID-19 crisis. According to sources, the meeting discussed various steps that regulators, especially the Reserve Bank of India, can take to push economic growth staring at the risk … Read more
As part of the government’s plan to accelerate economic growth, finance minister Nirmala Sitharaman urged central public sector enterprises (CPSEs) to boost their capital expenditure (capex) and achieve their targets, in a virtual meeting on Tuesday. Sitharaman said CPSEs played an important role in pushing the economy forward while reviewing their performance, adding that a … Read more