Sunday, 16 June 2019

Business

Tennis ball-sized diamond in the rough too big to sell

 TORONTO: In the mysterious world of diamond mining, it turns out that some stones are too big to sell. Canada’s Lucara Diamond Corp will have to cut its tennis ball-sized rough diamond to find a buyer, industry insiders say, following Sotheby’s failed auction for the world’s largest uncut stone last ...

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UK reassures continuation of concessions to Pakistani exports

LONDON/ISLAMABAD: Pakistan has been reassured by its biggest trading partner in Europe, that its exports will retain the concessional tariff for entering the United Kingdom even after Brexit. An official source said the reassurance was provided by the British government through diplomatic channels to the ministry of commerce, as many ...

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China announces goal of AI leadership by 2030

BEIJING: China’s government has announced a goal of becoming a global leader in artificial intelligence in just over a decade, putting political muscle behind growing investment by Chinese companies in developing self-driving cars and other advances. Communist leaders see AI as key to making China an “economic power,” said a ...

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UK’s Fox insists Britain can make trade deals outside EU

Britain could “simply replicate” its trade deals outside the European Union, said International Trade Secretary and leading advocate of Brexit Liam Fox. Speaking ahead of a meeting with the World Trade Organisation in Geneva on Thursday, Fox repeated his assertion that the UK could not leave the EU and remain ...

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Qatari banks sell its loans in the UAE

UAE banks are buying up loans that Qatari banks – Doha Bank and Barwa Bank – extended to UAE companies, banking sources told Al Arabiya. In the UAE, Doha Bank – one of the largest Qatari commercial banks – has branches in Dubai and Abu Dhabi and a representative office ...

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BBC under fire for gender pay gap as top salaries revealed

Britain’s public broadcaster BBC came under fire on Wednesday for its gender pay imbalance after it was forced to reveal how much it pays its top-earning talent. For the first time in its 94-year existence, the BBC was this year forced to release a list of its employees paid more ...

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UK now less appealing to rich Chinese

LONDON: The UK has slipped down the list of preferred destinations for Chinese millionaires considering moving overseas, a report suggests. While the US remains the favourite place to settle, Canada now ranks second pushing Britain into third spot. The survey found around half of those millionaires quizzed were mulling a ...

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Credit and debit card surcharges to be banned

LONDON: Consumers are no longer to be charged extra for paying by debit or credit card, the government has said. From January next year, businesses will not be allowed to add any surcharges for card payments. The worst offenders currently are airlines and food delivery apps, and small businesses which ...

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UK dividends up after boost from miners

LONDON: Mining company payouts have driven a turnaround in underlying UK dividend growth in the second quarter, prompting Capita to upgrade its forecasts for the year ahead. The quarterly UK Dividend Monitor report from Capita Asset Services showed dividends in the three months to June 30 hit £33.3bn – a record ...

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