Wednesday, 24 July 2019

Business

Canada to ban single-use plastics as early as 2021

TORONTO: This initiative is modelled on similar legislation passed last year by the European Union and other nations. Canada will also establish “targets” for companies that manufacture or sell plastics to be responsible for their plastic waste. Currently less than 10 percent of plastic used in Canada gets recycled. Mr ...

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Europe’s 5G to cost $62 billion more if Chinese vendors banned

PARIS: A ban on buying telecoms equipment from Chinese firms would add about 55 billion euros (£48.7 billion) to the cost of 5G networks in Europe and delay the technology by about 18 months, according to an industry analysis seen by Reuters. The United States added Huawei Technologies, the world’s ...

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Iran has no plans to leave OPEC despite tensions

GENEVA: Iran has no  plans to leave the Organization of the Petroleum Exporting Countries despite being treated like an enemy by some fellow members, Oil Minister Bijan Zanganeh said in an interview published. “Iran has no plans to leave OPEC…and regrets that some members of OPEC have turned this organization ...

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Microsoft gives glimpse of new Xbox console

LOS ANGELES: Microsoft on Sunday gave the world a first glimpse of a powerful next-generation Xbox gaming console that it aims to release late next year. Xbox head Phil Spencer pulled back the curtain on “Project Scarlett,” the creation of a successor to the Xbox One that will give game ...

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UK property developer Helical receives 500mn stg bid

LONDON: British commercial property developer Helical has received a bid worth around 500 million pounds ($637 million) from an unnamed US private equity group, the Sunday Times newspaper reported, without citing sources. The newspaper said the approach valued Helical at a significant premium to its current share price of 355p ...

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IMF urges France to step up reforms to rein in debt

PARIS: The International Monetary Fund on Monday warned France that its public debt is “too high for comfort,” calling on the nation to tackle the issue by stepping up spending reforms. In a report outlining preliminary findings of its 2019 mission, the IMF said tax and labor market reforms had ...

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G20 ministers issue joint statement on trade, digital economy

FUKUOKA: Finance ministers and central bank governors from the Group of 20 economies on Sunday issued a joint statement in the Japanese city of Fukuoka after a two-day meeting on trade and digital economy. The statement said, “global growth appears to be stabilizing and is generally projected to pick up ...

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UK considering technical issues around Huawei: Jeremy Hunt

LONDON: On 1 June, US Acting Defence Secretary Patrick Shanahan claimed during his speech in Singapore that Huawei was “too close” to the Chinese government for it to be entrusted with building communications networks. British Foreign Secretary Jeremy Hunt stated that the UK was considering the technical issues related to Huawei. ...

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British Airways resumes flights to Pakistan after 11 years

LONDON: Finaly British Airways has resumed flights to the South Asian country Pakistan, over a decade after they were suspended in the wake of a truck bombing of a hotel in the capital, which killed dozens. Flights three times a week between London and Islamabad began Monday, just ahead of ...

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US ends special trade treatment for India

WASHINGTON: The US will end preferential trade status for India next week, President Donald Trump has confirmed amid a deepening row over protectionism. India had been the largest beneficiary of a scheme that allows some goods to enter the US duty-free. However that status will end on Wednesday, Mr Trump ...

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