US to slash H1-B visas for skilled workers by a third
Skilled workers from India and China make up the majority of the 500,000 H1-B visa holders in the US.
Category Archives: Economy
Anti-virus software pioneer McAfee arrested for US tax evasion
US accuses John McAfee of failing to file tax returns and hiding assets, and is seeking his extradition from Spain.
Former tech CEO sentenced in US college admissions scandal
Peter Dameris was sentenced to one year of home confinement and ordered to pay a $95,000 fine.
Walmart must turn over files on alleged opioid mishandling
A judge ruled Monday that Walmart must turn over internal board discussions about opioids dating back to 2010.
Venezuela mulls 100,000 Bolivar bill. Guess how much it’s worth?
Venezuela bought security paper and considers printing 100,000-bolivar notes to keep up with 2,400 percent inflation.
Cineworld lowers curtain on US, UK theatres: 45,000 left jobless
Cineworld will close hundreds of theatres for 'two months or a bit longer' as audiences and new films remain scarce.
Empty skies: Once busy Dubai-Istanbul route remains quiet
The roughly 50 flights a week once available between Istanbul and Dubai have not yet resumed.
Netflix airs ‘Bad Boy Billionaires: India’ amid legal battle
The documentary series features a liquor tycoon, an IT executive, a jeweller and the chairman of the Sahara group.
Business activity in Saudi Arabia, Egypt, UAE returns to growth
Non-oil private sector activity improved last month despite ongoing challenges from COVID-19 pandemic.
Fishing emerges as a hurdle as Brexit talks enter key phase
Two weeks of talks begin as France resists UK bid to replace fishing quotas that London says unfairly favour EU fleets.
World Bank chief reiterates call to forgive poor countries’ debts
David Malpass says private banks, investment funds are not doing enough to help countries struggling due to coronavirus.
Turkey’s wealth fund in talks to support Turkish Airlines
Turkish Wealth Fund in talks to give emergency funding to hard-hit Turkish Airlines, sources tell Reuters.
Elon Musk’s Tesla reports blowout third quarter sales
Record sales figures topped even the most optimistic analysts' estimates.
US hits BitMEX cryptocurrency exchange founders with charges
Prosecutors say BitMEX founders and executives evaded anti-money laundering rules; firm says will fight the allegations.
Arabtec shareholders authorise board to wind up firm: Report
Dubai construction firm to be liquidated due to 'untenable financial situation', according to email seen by Reuters.
US slaps sanctions on six Syrians, 11 entities over al-Assad ties
Wednesday's actions aim to cut off revenues to al-Assad's government and force it back to the negotiating table.
Saudi economy shrinks 7% while unemployment hits record high
The fallout from coronavirus hit oil and non-oil sectors, and austerity measures could weigh on economic recovery.
Shell plans up to 9,000 job cuts with virus driving reductions
Oil firm joins competitors such as BP and Chevron in cutting jobs as they struggle with falling fossil fuel demand.
Asian factories have been busy, a plus for the global economy
Manufacturing data from China and Japan show growing demand for exports, but jobs remain under pressure.
Kenya’s women entrepreneurs lack access to capital, study finds
Women face pay and promotion disparities as well as obstacles in accessing information, technology and finance.