Wednesday, 8 April 2020

Business

United Airlines orders 50 Airbus aircraft to replace Boeing 757s

NEW YORK: United Airlines said Tuesday it had ordered 50 Airbus A321XLR aircraft, worth an estimated $6.5 billion, to replace an existing fleet of aging Boeings. The new Airbus planes, to be delivered starting 2024, will allow United to retire its Boeing 757-200s, the company said. The Airbus order is ...

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Property tycoon Malik Riaz’s UK assets to be returned to Pakistan

LONDON: Pakistani property tycoon Malik Riaz has agreed to pay UK’s National Crime Agency (NCA) £190m in a settlement after eight UK bank accounts linked to him were frozen in August 2019. “The assets will be returned to the State of Pakistan,” the NCA said, referring to the settlement amount. ...

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Facebook to allow transfer of photos, videos to Google Photos

LONDON: Facebook Inc said it has introduced an option to transfer photos and videos from the social media network directly to other services, starting with Google Photos. The option will be available to users in Ireland, with a worldwide roll-out planned for the first half of 2020. All data transfers ...

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No clear flight plan for Alitalia after rescue stalls

Efforts to save loss-making Alitalia have reached an impasse after months of unsuccessful negotiations with potential buyers, leaving Italy’s government undecided on the next move. The struggling carrier, which has been under special administration since 2017 and continues to burn through cash, is now at a standstill after a consortium ...

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Masatsugu Asakawa elected as ADB new president

Masatsugu Asakawa has been unanimously elected as the new president of the Asian Development Bank (ADB) by its board of governors. Mr Asakawa, 61, special advisor to Japanese Prime Minister Shinzo Abe and also the finance minister, will assume office as ADB’s 10th President on Jan. 17, 2020. He will ...

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Cambodia plans to spend over US$100mil on subsidies by 2021

CAMBODIA plans to spend more than US$100 million (RM417 million) on subsidies by 2021 to reduce electricity tariffs and spur economic growth. The move is also to relieve the financial burden of businesses and households. Cambodian utility company Electricite du Cambodge (EdC) director general Keo Ratanak told The Phnom Penh ...

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Affin Bank posts higher net profit

KUALA LUMPUR: Affin Bank Bhd reported a net profit of RM365.66 million for the nine months ended September 2019, 1.76 per cent higher than RM359.34 million a year ago. This is mainly attributable to lower allowances for impairment losses of RM78.4 million and a net gain of RM106.3 million for ...

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H&M tests renting clothes to address environmental challenge

STOCKHOLM, Sweden – Hennes & Mauritz AB is testing out a clothing rental *service* as the fashion industry faces mounting criticism for waste and pollution. Acclaimed fashion brand H&M is attempting to do its part in reducing the waste and pollution caused by the fashion industry. The Swedish fashion brand ...

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Dubai’s biggest bank said to cut up to 500 jobs

DUBAI’s largest bank, Emirates NBD, has reportedly cut up to 500 jobs since October. Reuters quoted sources familiar with the matter as saying the cuts were part of efforts by UAE banks to reduce costs amid slower economic growth. The cuts have been across several areas of the bank, which ...

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People want the new iPhone 11 ad banned

LONDON: It’s 7am and you are warm and cozy in your bed. And suddenly you feel buzzing tremors, which turn into vibrating thunder in the darkness. The piercing sound of the alarm eventually wakes you up from your slumber. The wretched alarm tone is the most annoying sound ever for ...

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