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India, US to revamp strategic partnership with focus on clean energy sector

India and the United States have agreed to revamp their strategic energy partnership to focus on greater collaboration in cleaner energy sectors such as biofuels, and hydrogen production

US suspends all trade engagement with Myanmar until elected govt returns

The United States is immediately suspending all engagement with Myanmar under a 2013 trade and investment agreement until the return of a democratically elected government, USTR Katherine Tai said

Gupta's Liberty Steel to restart operations, in talks with UK government

Sanjeev Gupta's Liberty Steel UK plans to restart steelmaking next week and continues to seek new funding after its main financial backer Greensill Capital went into insolvency, it said on Monday

Visa allows payments using cryptocurrency, says 'seeing demand'

Company said it launched the programme with payment and crypto platform Crypto.com

China warns western brands not to engage in politics over Xinjiang

H&M, Burberry, Nike, Adidas and other Western brands have been hit by consumer boycotts in China since last week over comments about their sourcing of cotton in Xinjiang

Oil price falls 1% after container ship blocking Suez Canal refloats

Prices also dropped as fuel demand in Europe remained weak after countries renewed lockdowns to curb a new wave of coronavirus infections.

Chinese automaker Great Wall Motor plans hydrogen fuel-cell SUV model

Great Wall Motor will roll out its first hydrogen fuel-cell sport utility vehicles and launch a fleet of 100 hydrogen heavy trucks this year

Buffett-backed Chinese electric vehicle maker BYD profit up 162% in 2020

The firm on Monday reported a 162% growth in 2020 net profit

J&J, African Union in deal for up to 400 million Covid vaccine doses

The virus has killed almost 121,000 people across Africa and infected 4.18 million

'She's free': Traffic in Suez Canal resumes after stranded ship refloated

Key waterway between Europe and Asia blocked since Tuesday; at least 369 vessels waiting to transit canal

Wall Street opens lower on hedge fund default concerns; Nasdaq down 0.78%

The S&P 500 fell 5.2 points, or 0.13%, at the open to 3,969.31

WeWork takes SPAC route to go public in $9 bn deal with BowX Acquisition

Current shareholders will own about 83% of the combined company, WeWork said

China smartphone maker Xiaomi to make EVs using Great Wall's plant: Report

China's Xiaomi plans to make electric vehicles using Great Wall Motor's factory, said three people with direct knowledge of the matter, making it the latest tech firm to join the smart mobility race

Burberry becomes 1st luxury brand to suffer Chinese backlash over Xinjiang

Burberry lost a Chinese brand ambassador and its hallmark design was scrubbed from a video game, becoming the first luxury brand assailed by Chinese backlash to Western accusations of Xinjiang abuses

ArcelorMittal seeks partners, subsidies for cleaner steelmaking in Germany

The company would close a blast furnace in each of the two plants and build electric arc furnaces for scrap smelting

Suez blockage sets shipping rates racing, oil and gas tankers diverted away

The suspension of traffic through the narrow channel linking Europe and Asia has deepened problems for shipping lines that were already facing disruption and delays in supplying retail goods

BOJ forms panel to help guide central bank digital currency experiment

Set to begin experimenting in how to operate a central bank digital currency, the Bank of Japan said it has formed a committee bringing together policymakers and lobbyists to help with the project

Deutsche Bank CEO willing to give up investment bank oversight role: Report

Christian Sewing, chief executive officer of Deutsche Bank, is willing to give up his role overseeing the investment bank in the foreseeable future, a person with knowledge of the matter said

Oil prices recover some ground on fears Suez blockage may last weeks

Oil reversed a sharp sell-off a day earlier to rise 1% on mounting fears that it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude

Suez blockage sets shipping rates racing, oil and gas tankers diverted away

Reeling from the blockage in the Suez Canal, shipping rates for oil product tankers have nearly doubled this week, and several vessels were diverted away from the vital waterway