Tuesday, 21 May 2019
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Toshiba profit up on chip business sale

TOKYO: Japanese engineering firm Toshiba reported improved full-year net profit thanks to the sale of its chip business, but said operating profit was sharply down. In the year that ended March, Toshiba’s net profit jumped 26.0 percent to 1.01 trillion yen ($9 billion), chiefly because of “profit from completion of ...

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China hikes tariffs on US goods after Trump warning

BEIJING: China said it would impose higher tariffs on most U.S. imports on a revised $60 billion target list, hitting back at a tariff hike by Washington on $200 billion of Chinese goods in a further escalation of a bitter trade war. The retaliation comes as U.S. President Donald Trump ...

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Facebook removes fake Italian accounts ahead of EU election

ROME: Facebook shut down phony Italian accounts and pages spreading fake news ahead of European Union parliamentary elections, prompting opposition lawmakers to call Monday for tougher laws to curb online misinformation. “We have removed a number of fake and duplicate accounts that were violating our authenticity polices,” the social network ...

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Metro Bank says well advanced in equity raising plan

LONDON: Metro Bank Plc’s plan to raise about 350 million pounds ($455 million) of equity capital to support its growth is well advanced, the British bank said in a statement. The company said it had started final discussions with existing and new shareholders and feedback has been positive. The equity ...

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Pakistan growth to hit eight-year low as IMF bailout looms

Pedestrians walk past the International Monetary Fund headquarters' complex in Washington Sunday, May 2, 2010. A senior International Monetary Fund official says the IMF's executive board is meeting in Washington to consider how much aid to grant Athens under a massive rescue loan package.

KARACHI: Pakistan’s growth rate is set to hit an eight-year low, a government report predicted Friday, with all major indicators down as the country continues negotiating its 22nd bailout from the International Monetary Fund. A report by the National Accounts Committee, released late Thursday, forecast growth of a mere 3.3 ...

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Oil rallies on hopes for Washington-Beijing trade deal

SYDNEY: U.S. oil prices rose on renewed optimism that a trade deal between Washington and Beijing could be struck, as investors have been fearing that a protracted tariff war would harm global economic growth. Brent crude futures were at $70.85 a barrel at 0021 GMT, up 48 cents, or 0.7 ...

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Reliance Industries buys global toy retailer Hamleys

MUMBAI: India’s Reliance Industries has acquired British toy retailer Hamleys, the energy-to-telecoms conglomerate said. Reliance Industries, which runs the world’s biggest single-location crude oil refinery in western India, has been gradually transforming itself into a consumer-facing behemoth through its retail and telecoms ventures. Through its Reliance Brands subsidiary, the company ...

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Spain industrial output falls 3.1pc year-on-year

SPAIN’s calendar-adjusted industrial output fell 3.1 percent year-on-year in March, data from the National Statistics Institute showed on Thursday, below Reuters forecast for a 1.3 percent decrease. In February, output fell 0.2 percent year-on-year, revised from a previous reading of a 0.3 percent decrease.

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UK Labour Party says Brexit Deal talks with PM to continue next week

LONDON: The office of UK Prime Minister Theresa May and the opposition Labour Party will meet next week for the next round of talks aimed at overcoming their disagreements over a UK withdrawal deal from the EU, the Labour spokesperson said amid Brexit uncertainty. The fresh round of the negotiations between Downing ...

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