Thursday, 19 July 2018

Business

Chinese Authorities Crack Down On Cryptocurrency Gambling

BIEJING: According to a July 12 announcement made by the Guangdong Provincial Public Security Department, the police in the province have launched an extensive enforcement action against illegal gambling organizations. This operation involves 21 security authorities and has, to date, disabled 70 websites, approximately 540 gambling apps, and over 250 ...

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Apple launch $300 Million Fund for China Clean Energy

SHANGHAI: Apple Inc will launch a $300 million clean energy fund in China, the firm said in a statement on Friday, working with its suppliers to invest in renewable energy projects that could power close to 1 million homes in the country. China’s government has made cutting pollution a key ...

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Exxon Mobil joins exodus of firms from lobbying group ALEC

(Reuters) HOUSTON: Exxon Mobil said on Thursday it ended its association with the American Legislative Exchange Council, a conservative political group that several other prominent US corporations have left in recent years. “We review our memberships on an annual basis and this year have decided to discontinue our membership in ...

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Founder of Papa Johns steps down

LONDON: Pizza chain Papa John’s International Inc said its founder and former chief executive, John Schnatter, resigned as chairman of the board. The company said Olivia Kirtley would act as lead independent director, and added it would appoint a new chairman in the coming weeks. The resignation comes after Forbes ...

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Facebook facing UK fine over data protection breaches

LONDON: Britain’s information regulator slapped Facebook with a small but symbolic fine for breaches of data protection law after millions of users’ data was improperly accessed by consultancy Cambridge Analytica. The 500,000 pound ($663,850) fine is less that 10 minutes worth of revenue for the social media firm worth $590 ...

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India cuts Iranian oil imports ahead of US sanctions

NEW DELHI: Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November. India’s monthly oil imports from Iran declined to 592,800 barrels per day (bpd) ...

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Trade war: US lists next $200 bn Chinese goods to face tariffs

WASHINGTON: The United States late Tuesday announced it was starting the process to slap 10 percent tariffs on another $200 billion in Chinese export goods as soon as September, escalating the trade war between the world’s two largest economies. President Donald Trump vowed to hit back on a growing list ...

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Norway denies holding up Tesla move to improve service

OSLO: Norway has rejected a suggestion it is holding up Tesla’s efforts to improve service in its third-biggest market, saying the electric carmaker has not yet applied to use the mobile service vans it says it needs to solve its problems. Tesla Chief Executive Elon Musk last week blamed a ...

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Sanofi shuts down factory over toxic waste outcry

PARIS: French pharmaceuticals group Sanofi announced late Monday an immediate halt in production at a chemical factory in southwest France, in the wake of media reports that toxic waste emissions exceeded the norms. “Sanofi Chemical has decided from today to stop production at its Mourenx site and to carry out ...

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Modi, Moon inaugurate world’s biggest mobile manufacturing factory

NEW DELHI: Indian Prime Minister Narendra Modi and South Korea President Moon Jae-in inaugurated a Samsung Electronics mobile phone manufacturing facility, billed as the world’s largest, in Noida on Monday. The 35-acre factory would not only generate more jobs but also make India a global export hub, Modi said. “Whenever ...

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