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Business : Page 2

Medical and food supplies prioritised in South Africa
DurbanMarch 28, 2020 ET
Medical and food supplies in South Africa will be prioritised during the 21-day lockdown that started at midnight on Thursday.
OECD: For each month of containment, loss of 2 percentage points in annual GDP
Angel GurríaMarch 28, 2020 ET
Increasingly stringent containment measures needed to slow the spread of the coronavirus will necessarily lead to significant short-term declines in GDP for many major economies, according to new OECD projections.
U.S. oil drillers cut the most rigs in a week in nearly 5 years
Permian BasinMarch 27, 2020 ET
U.S. energy firms cut the most oil rigs since April 2015, removing rigs for a second week in a row.
EU waives airline slot use rule for summer season
Rafael SchvartzmanMarch 27, 2020 ET
The International Air Transport Association (IATA) thanked the European Union for agreeing to suspend the airport slot use rules for the whole summer season.
New section planned for Pennsylvania Turnpike
Pennsylvania TurnpikeMarch 27, 2020 ET
A new stretch of road is being planned for the Pennsylvania Turnpike in the U.S.
Important new road construction works in Kazakhstan
AlmatyMarch 27, 2020 ET
Important new road construction works will be carried out in Kazakhstan.
Palestinians manufacturing masks for Israel
UniPal 2000March 27, 2020 ET
Following the outbreak of the coronavirus, a Palestinian sewing company is producing surgical masks and other protective gear instead of clothing, reports The Times of Israel.
Mexico's cars and trucks FDI reaches $3.933 billion
Mexico car industryMarch 27, 2020 ET
Mexico captured $3,933 million of Foreign Direct Investment (FDI) in the production of vehicles and trucks in 2019, which represented an 18% year-on-year increase as well as a record.
Turkey holds first tender related to Istanbul canal project
Istanbul canalMarch 27, 2020 ET
Turkey held its first tender on Thursday to prepare to build a huge canal on the edge of Istanbul, a Transport Ministry spokesman said, signaling progress on the project despite widespread criticism over its cost and environmental impact.
Iron ore shipments from Australia and Brazil expanded on week
Australia iron oreMarch 27, 2020 ET
SMM estimates that there were 71 vessels carrying 11.75 million mt of iron ore arrived at major Chinese ports during March 15-21, down 260,000 mt from the week ended March 14 but up 1.65 million mt from the same period a year earlier.
Singapore passenger vessel sector to receive economic aid
Singapore portMarch 27, 2020 ET
Economic relief is on its way for Singapore\'s passenger vessel owners and operators, as well as passenger terminal operators, who have seen a drop in passenger volumes due to the coronavirus outbreak, Deputy Prime Minister and Minister for Finance, Heng Swee Keat, announced Thursday, as part of the Resilience Budget.
Suspension of Libyan oil exports causes loss of over $3.6 billion
Libya National Oil CorporationMarch 27, 2020 ET
Libya\'s National Oil Corporation (NOC) on Thursday said that the suspension of oil exports after the closure of oil fields and ports has caused a loss of more than 3.6 billion U.S. dollars so far.
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