Saturday, 18 August 2018

Business

Alibaba says annual net profit up 47% in 2017-18

BEIJING: Chinese e-commerce giant Alibaba on Friday announced a massive 47 percent leap in net profit for the fiscal year 2017/2018, helped by a rise in smartphone and tablet transactions on its shopping platform. Profit climbed to 63.985 billion yuan ($10.2 billion), boosted by a 60 percent rise in revenue ...

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EU considers using algorithms to detect anti-competitive acts

MECHELEN: To find companies that may be using software to fix prices, EU regulators may create their own algorithms. European Competition Commissioner Margrethe Vestager said that it’s now easy for price collusion to occur, Reuters reported. “It is a hypothesis that not all algorithms will have been to law school,” Vestager ...

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Twitter urges all users to change passwords after glitch

LONDON: Twitter Inc urged its more than 330 million users to change their passwords on Thursday (May 3) after a glitch caused some to be stored in readable text on its internal computer system rather than disguised by a process known as “hashing”. The social network disclosed the issue in ...

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Thirteen trapped underground at South African gold mine

Thirteen miners were trapped underground at a South African gold mine on Thursday after an earthquake that measured 2.2 caused a cave-in, mine operator Sibanye-Stillwater said. The firm said it had made contact with three of the workers trapped in the Masakhane mine west of Johannesburg and had mobilized rescue ...

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Bombardier secures $1.4bn deal

American Airlines is purchasing 30 regional jets at a list price of $1.4 billion to bolster its fleet of short-haul aircraft, the company said Thursday. American plans to purchase 15 76-seat Embraer E175 aircraft from the Brazilian manufacturer and 15 76-seat Bombardier CRJ900 jets from the Candian aircraft maker. American ...

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Euro zone economy slows as expected in first quarter

BRUSSELS: Euro zone economic growth slowed as expected at the start of 2018, although economists said temporary factors were partly behind the weakness and that the economy should continue to expand strongly this year. Gross domestic product across the 19 countries sharing the euro currency expanded by 0.4 percent in ...

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Brighton rejects application to renew Uber licence

FILE PHOTO BRIGHTON: The taxi firm Uber has had its licence revoked in Brighton and Hove. The city council decided unanimously not to renew the licence. The news was received with jubilation by other taxi drivers in the city. Brighton & Hove City Council’s licensing panel has decided against renewing ...

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After Russia, Iran bans the use of messaging app Telegram

© Ilya Naymushin / Reuters TEHRAN: The Iranian judiciary has issued a “total ban” on Telegram following a request from the security services, which argued that the encrypted messaging app has become a “safe haven” for terrorist cells, according to local media. “Considering various complaints against the Telegram social networking ...

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PM Abbasi inaugurates Pakistan’s first Greenfield airport

AFP ISLAMABAD: Pakistani Prime Minister Shahid Khaqan Abbasi on Tuesday inaugurated the long-delayed new airport in the capital, Islamabad, replacing the cramped Benazir Bhutto airport often criticized by travelers. A Pakistan International Airlines pilot waved a green and white Pakistani flag out of his cockpit window after landing the carrier’s ...

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