Thursday, 15 November 2018

Business

Ericsson raises 2020 sales target as recovery gains pace

LONDON: Ericsson on Thursday raised its sales target for 2020, driven mainly by a recovery in its hard-hit networks business and cost-savings gains. The mobile telecom equipment maker now aims for net sales of 210-220 billion Swedish crowns ($23.3-24.4 billion), up from earlier guidance of 190-200 billion. After years of ...

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Bitcoin Cash Drops 5%

LONDON: After demonstrating nearly a 50 percent gain within a three-day span, Bitcoin Cash dropped five percent of its value against the US dollar. The volume of Bitcoin Cash, which hovered at around $1.4 billion on November 6, has since dropped to $950 million, by 32 percent. Still, on a ...

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BAE Systems sticks to forecast for flat earnings

  LONDON: Britain’s biggest defence company BAE Systems, which counts Saudi Arabia as its third biggest customer, stuck to a forecast for flat earnings in 2018 and said programmes in the UK and the United States were making progress. BAE’s update is its first since companies have come under pressure ...

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China to continue Iran trade despite new US sanctions

BEIJING/WASHINGTON: China denounced new United States sanctions targeting Iran’s oil and financial sectors as “long-arm jurisdiction” on Monday and vowed to continue its bilateral trade with the Islamic republic. The measures, which took effect on Monday, follow US President Donald Trump’s decision to abandon a multi-nation nuclear deal with Tehran, which he ...

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French hotels sue Airbnb claiming ‘unfair competition’

PARIS: The main trade group for French hotels has sued the home-sharing giant Airbnb, accusing it of unfair competition by “knowingly violating” rules imposed as part of a crackdown in one of the US giant’s biggest markets. In the lawsuit seen by AFP on Tuesday, the UMIH hotel industry body ...

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Pakistan, China agree to trade in Rupee, Yuan instead of dollar

Pakistan and China have agreed to do trade in their own currencies instead of dollar. According to report, the two countries agreed to do business in Pakistani rupee and Chinese currency Yuan during the visit of Prime Minister Imran Khan to Beijing. Earlier, Pakistan and China were doing trade in ...

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China says ready for US talks, sees no winners in trade war

BEIJING/WASHINGTON: China is ready to hold discussions and work with the United States to resolve trade disputes because the world’s two largest economies stand to lose from confrontation, Vice President Wang Qishan said. Beijing and Washington have imposed tit-for-tat duties on each other’s goods over recent months, with neither side ...

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Tokyo stocks close higher as investors wait for US midterm elections

TOKYO: Tokyo stocks closed higher Tuesday on bargain-hunting as investors focused on US midterm elections and Toyota leapt more than two percent after upgrading its full-year forecast. The benchmark Nikkei 225 index rose 1.14 percent or 248.76 points to 22,147.75 while the broader Topix index gained 1.16 percent or 18.96 ...

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LG to develop smart shopping cart robot with E-mart

SEOUL: LG Electronics Inc. said Monday it inked an agreement with E-mart Inc., a retail giant in South Korea, to develop a new type of service robot that can assist shoppers at supermarkets. Under the agreement, the two companies will develop what they call a smart-cart robot that can automatically ...

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