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NewsReutersSpread of Omicron variant forces nations to rethink plans for global travel
The global spread of the Omicron variant of coronavirus has brought new cases in Australia, Denmark, France and the Netherlands, prompting nations to reconsider plans for international travel as they scramble to avert an outbreak. News of the variant triggered alarm and a sell-off last week in financial markets, as countries clamped on new curbs for fear it could resist vaccinations and upend a nascent economic re-opening after a two-year global pandemic. The World Health Organisation (WHO) warned that deciding the severity level of Omicron, identified first in South Africa, could take "days to several weeks" in the absence of information that its symptoms differed from those of other variants.
BusinessReutersIndia's Paytm falls as net loss widens on higher expense
NEW DELHI (Reuters) -Shares in India's One 97 Communications Ltd, the parent of Paytm, fell as much as 4.6% on Monday after the fintech company's net loss for its second quarter widened due to a rise in expenses. In its first earnings report since going public earlier this month, the company said expenses jumped 37.1% to 15.99 billion rupees and consolidated net loss increased to 4.74 billion rupees ($63.31 million) from 4.37 billion rupees a year ago. "Some of the line items in our payment business are not just profit generating but free cash flow generating," founder and chief executive Vijay Shekhar Sharma said in an earnings call for investors on Saturday.
- NewsReuters SG
Singapore LNG teams up with Linde Gas to study CO2 liquefaction facility
Singapore LNG Corp (SLNG) and Linde Gas Singapore said on Monday they have agreed to explore the feasibility and development of a carbon dioxide liquefaction and storage facility. The facility would use cold energy from SLNG liquefied natural gas (LNG) terminal's operations to liquefy carbon dioxide which would then be stored in tanks on site before transported for end use, the companies said, adding it was a memorandum of understanding. The facility, to be located on Jurong Island if deemed feasible, could become the first of its kind in Singapore.
