Wednesday, 27 March 2019

Business

Fiat Chrysler Canada auto sales fall 20 pct in Jan

Fiat Chrysler Automobiles NV reported about a 20 percent drop in total January auto sales in Canada. The company, which is among the top four carmakers in the country, sold 14,191 vehicles in the month, with its Alfa brand registering about a 60 percent plunge in sales.

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China offered to nearly halve cost of Malaysia’s $20bn rail project

KUALA LUMPUR: China offered to nearly halve the cost of a $20-billion rail project to save the centerpiece of its infrastructure push in Southeast Asia, two sources said on Thursday, but contradictory remarks by Malaysian ministers leave the outcome uncertain. The conflicting statements made over the past week on the ...

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Apple apologizes for FaceTime bug

LONDON: Apple recently acknowledged the Group FaceTime bug that allowed people to eavesdrop on others, and apologized for it. However, the fix, which was supposed to come this week, has been delayed to next week. The bug was discovered earlier this week after people caused uproar about privacy concerns. However, ...

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U.S., China all smiles on trade but doubts persist

WASHINGTON: The United States and China radiated positivity after this week’s trade talks but doubts persist about the chances of sealing the overarching deal Donald Trump wants. After two days of high-level negotiations in Washington, President Donald Trump hailed the “tremendous progress,” and the Chinese delegation said the talks had ...

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Amazon profit jumps

SAN FRANCISCO: Amazon reported its profit in the past quarter surged on strong holiday retail sales and its soaring cloud computing business. The US tech giant said profit jumped 63 percent from a year ago to $3.0 billion in the fourth quarter as revenues increased 20 percent to $72.4 billion. ...

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Italian economy enters technical recession

ROME: The Italian economy contracted 0.2 percent in the fourth quarter of 2018 quarter-on-quarter, and the country has entered a technical recession, with its economy reaching the lowest level over the past five years, the Italian National Institute of Statistics (Istat) revealed. Italy’s GDP has been falling for two quarters ...

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German slowdown leaves job boom untouched

BERLIN: The jobless rate in Germany held steady in January even as signs of a slowdown in Europe’s powerhouse economy mounted, official data showed Thursday. The unemployment rate was 5.0 percent, the Federal Labour Agency (BA) said in seasonally-adjusted figures, the same level as the previous two months. In absolute ...

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Nokia sees fast shift to 5G

HELSINKI: Telecom network equipment maker Nokia forecast stronger-than-expected 2019 and 2020 results thanks to fast-rising investments in 5G networks, after beating fourth-quarter sales and profit estimates on Thursday. “Over the longer-term, we expect a virtuous cycle of investment, where operators update their networks across multiple domains,” Nokia’s chief executive Rajeev ...

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Facebook profit climbs along with ranks of users

LONDON: Facebook said quarterly profit climbed to $6.9 billion as its ranks of users continued to grow despite scandals that have dented the leading social network’s image. Revenue soared 30 percent from a year ago to $16.9 billion while the number of people using it monthly rose nine percent to ...

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Syria, Iran agree to ditch dollar in bilateral transactions

TEHRAN/DOHA: Iran sealed economic and trade deals with Syria, as Damascus is looking to its allies to help with the reconstruction effort after its eight-year-long war. Iran and Syria have agreed on measures that will allow bank transactions in their local currencies and non-dollar foreign currencies as the two countries have decided to deepen ...

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