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Chinese corporation ZTE reached an agreement with the US Department of Commerce, which allowed it to resume purchases of components from the US companies, but did not abolish sanctions completely, according to Voice of America. To reach an agreement, ZTE had to pay a $1 billion fine and deposit $400 million in a bank designated by the US federal government. The company also agreed to change the board of directors and fulfill a number of other conditions.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Oil prices fell on Tuesday amid fading hopes for an increase in demand, while a buildup of stockpiles weighed the market. U.S. West Texas Intermediate crude futures slipped by 44 cents, but recovered a portion of its losses after China posted ...
German automotive manufacturing company Volkswagen Group (VOWG) announced on Monday that it would gradually resume operations in the states of Puebla and Guanajuato on June 15. The company decided to pause its activities last March due to ...
Japanese car manufacturers Toyota (TM), Nissan (NSANY), and Honda (HMC) announced on Tuesday that they would gradually resume operations in Mexico as the country’s automobile industry reboots are in line with a more extensive economic ...
Qantas Airways Ltd.’s Chief Executive Officer Alan Joyce stated on Tuesday that the company would resume its operations with 40-50% of its domestic flights in July if the government would ease travel restrictions. The Australian airline ...
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