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European Union escalates antitrust case against Apple

Brussels, Belgium | Xinhua | Apple may be fined and forced to open its mobile payment system to competitors after the European Commission has charged the company of abusing its dominant position by limiting access to technologies allowing contactless payment. “Apple has built a closed ecosystem around its devices and its …

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Euro nearing five-year low stoking recession fears

The euro is within reach of five-year lows and seems increasingly will approach dollar-euro parity Rome, Italy | Xinhua | The euro has continued to weaken against the U.S. dollar, approaching its lowest level in five years, due mainly to the crisis in Ukraine and the sluggish economic growth in Europe. …

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India to take a decade to overcome COVID-19 pandemic losses

Mumbai, India | Xinhua | India will take over a decade, or around 15 years, to overcome the losses incurred during the COVID-19 pandemic despite its economic growth rebounding from a low-base, the country’s central bank said in a report on Friday. The monetary losses estimated by the Reserve Bank …

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