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Xiaomi profit grows in second-quarter, boosted by premium phone sales

Revenue rose 3.1% in the quarter ending June 30, while sales rose to 53.54 billion yuan ($7.77 billion), beating analysts' expectations

Covid-19: Germany extends 10 billion euro relief to preserve workforce

The German economy contracted at its steepest rate on record in the second quarter and the government is desperate to mitigate the effects of the pandemic as much as possible

Covid-19: Japan govt signals push to re-open economy, boost stimulus

Chief Cabinet Secretary Yoshihide Suga also dismissed speculation that Prime Minister Shinzo Abe may step down for health reasons

China will release funds to local govts more quickly to boost economy

The government has said it would set up special transfer payments of 2 trillion yuan ($289.72 billion) from special treasury bonds

US says China 'bullying' UK, cites HSBC Hong Kong-related accounts

HSBC has in recent months faced mounting pressure on both sides of the Atlantic, as it attempts to balance its need to maintain access to the Chinese market

Over 2,000 online sellers file antitrust case against Amazon in India

The case presents a new regulatory challenge for Amazon in India, where it has committed $6.5 billion in investment but is battling a complex regulatory environment

Alibaba puts India investment plan on hold amid China tensions: Report

Alibaba, which has fuelled the growth of several Indian start-ups, will not put in fresh funds to expand its investments in the country for at least six months, the sources said

Framework review complete, Powell starts hard sell for higher inflation

On Thursday, Fed Chair Jerome Powell begins what may be the tougher task: convincing the public that the central bank can and will deliver in the wake of a pandemic

ArcelorMittal SA declares force majeure after blast furnace breakdown

The clause of force majeure, loosely translated as superior force, allows certain terms of an otherwise legally binding agreement to be ignored due to unavoidable circumstances.

Malaysia's AirAsia X asks for creditor help as quarterly loss plunge

AirAsia X Bhd needs creditors' support to ride out the coronavirus crisis, the Malaysian long-haul budget airline said on Wednesday, as it posted a quarterly loss and revenue plunge.

WeChat ban could hit competitiveness, revenue: US firms in Shanghai

By Brenda Goh

In coronavirus crisis, freewheeling loans on crypto platforms gain currency

Loans on such platforms have risen more than seven-fold since March to $3.7 billion, according to industry site DeFi Pulse

Limited legal protection for Covid-19 vaccine makers hampers EU deals

With vaccines being developed at record speed during the pandemic, there is potentially a greater risk they may have unexpected consequences or may not be effective.

Saudi Arabia's June oil exports down 55% yoy, a drop of $8.7 billion

The value of Saudi Arabia's June oil exports was down 55% year on year, a drop of $8.7 billion, official data showed on Wednesday.

Brent crude oil prices climb on US output cuts, China trade deal hopes

Brent crude oil futures added 10 cents, or 0.2%, to $45.96 a barrel by 0642 GMT

New Zealand bourse operator NZX hit by probable second cyber attack

Trading on New Zealand's stock exchange was halted on Wednesday after a likely second cyber attack, bourse operator NZX Ltd said

Cambridge Univ aims for autumn trials of Covid vaccine after UK funding

The University of Cambridge is aiming to start clinical trials of its possible coronavirus vaccine in the autumn after it received 1.9 mn pounds in funding from the British government

Hurricane Laura poses biggest storm threat to US oil output in 15 years

Oil producers on Tuesday had evacuated 310 offshore facilities and shut 1.56 million barrels per day (bpd) of crude output

Australia boosts defence spending by A$1 bn in latest coronavirus stimulus

Australia has so far promised to spend about A$260 billion in stimulus to support its ailing economy

Iraq pledges to deepen oil output cuts in Aug, Sept by 400,000 barrels/day

Iraq said on Friday it would cut its oil production by another 400,000 barrels per day in both August and September to compensate for its overproduction in the past three months.