WASHINGTON (Reuters): US manufacturing activity accelerated to its highest level in nearly 1-1/2 years in July as orders increased despite a resurgence in new COVID-19 infections, which is raising fears about the sustainability of a budding economic recovery. The Institute for Supply Management (ISM) said on Monday its index of national factory activity raced to…

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Monitoring Desk MOSCOW: Russian oil and gas condensate production increased to 9.37 million barrels per day (bpd) in July, Interfax news agency reported on Sunday, citing energy ministry data, indicating it missed its output target under a global deal. Production was up from 9.32 million bpd in June. From August, the output cuts — agreed…

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Monitoring Desk NEW YORK: Long associated with narrow, cobbled streets in Europe and congested Asian megacities, scooters are now becoming a common sight in car-loving America as commuters shun public transport because of the coronavirus pandemic. New Yorkers turned to the turquoise-blue rental mopeds of ride sharing company Revel in huge numbers in recent weeks,…

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Monitoring Desk IBIZA TOWN, SPAIN: On the largely empty beach at Figueretas on Ibiza, social distancing isn’t hard to do. Here, bar terraces are sparsely populated and the shutters of apartments overlooking them are mostly closed. With Spanish health authorities struggling to contain rising coronavirus infections, this island fears its tourist season may have been…

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Monitoring Desk MANILA: The Philippines stock market tumbled on Monday after the government reimposed coronavirus lockdown measures in and around Manila in response to fresh outbreaks, dashing hopes of a swifter economic recovery. The restrictions, due to take effect from Tuesday, are being reinstated after a group of doctors and nurses warned that the health…

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Monitoring Desk PARIS: Devastating economic data poured in Friday as nations counted the cost of efforts to contain the coronavirus pandemic, even as fresh spikes forced countries including Britain to put the brakes on a return to normalcy. Six months after the World Health Organisation (WHO) declared a global emergency, the novel coronavirus has infected…

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WASHINGTON (AFP/APP): Amazon says it will invest $10 billion for its planned space-based internet delivery system after winning US regulatory approval to deploy more than 3,000 low-orbit satellites. The US tech giant said on Thursday it is moving forward with its Project Kuiper, one of several systems planned to bring internet to customers without land-based…

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ISLAMABAD (INP): Pakistan and China should focus on promoting direct business linkages between their entrepreneurs to further enhance bilateral trade and explore JVs in potential areas of mutual interest between the two countries. This was stated by Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry while delivering his message to China. Gwadar Pro…

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