Tuesday, 23 April 2019

Business

China warns Australia at WTO about 5G restriction

GENEVA: China told Australia at the World Trade Organization that Australia’s restriction on Chinese 5G telecoms technology was “obviously discriminative” and appeared to break global trade rules, according to a transcript seen by Reuters. China’s representative at the WTO’s Council on Trade in Goods said measures to restrict 5G technology ...

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Uber launches electric bikes, scooters in Paris

PARIS: US ride-hailing group Uber said Wednesday that it would start deploying electric bikes and scooters for rent on Paris streets as soon as this week, joining a crowded market which city officials have vowed to rein in. Initially 500 of its Jump bikes and 500 scooters will be rolled ...

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IMF to block $400 Mn worth of Venezuelan funds until ‘govt recognition’

CARACAS: The international financial body froze Venezuela’s access to its money earlier in January. The International Monetary Fund announced Wednesday it will continue to block Venezuela’s access to approximately $400 million of special drawing rights until the “issue of government recognition” is clarified. The IMF and the World Bank have stated they are ready to move ...

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UK economy grows as factories get boost from pre-Brexit stockpiling

LONDON: Britain’s economy unexpectedly grew in February, helped by clients of manufacturers rushing to stockpile goods ahead of Brexit, official data showed on Wednesday. Gross domestic product grew by 0.2 percent from January, the Office for National Statistics said. Economists taking part in a Reuters poll had expected zero growth. ...

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Garment boom boosts Bangladesh exports to $31 bilion

DHAKA: Bangladesh’s export income in the first three quarters of the current 2018-19 fiscal year (July 2018-June 2019) surged 12.57 percent to nearly 31 billion U.S. dollars, an official said. The Export Promotion Bureau (EPB) official told Xinhua that the country earned a total of 30,903.02 million U.S. dollars from ...

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Rolls-Royce agrees to inspection of problematic Trent engines

LONDON: Rolls-Royce has agreed to an early inspection of some Trent 1000 TEN engines by regulatory authorities, a week after Singapore Airlines Ltd grounded two Boeing Co 787-10 jets fitted with the units. The latest version of the Trent engine has been dogged by problems since entering service at the ...

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Holland man completes world’s longest electric car trip

SYDNEY: A Holland man has completed 95,000 kilometre trip on his electric car in Sydney to prove the viability of such vehicles in tackling climate change. Wiebe Wakker drove his car nicknamed “The Blue Bandit” across 33 countries. The trip that was funded by public donations took over three years ...

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Now you can do banking through WhatsApp in UAE

DUBAI: UAE banks are continuing to set the bar when it comes to technology adoption in the region, with a new focus on offering customer services through social media apps. Dubai’s largest bank, Emirates NBD, and its Shariah-compliant unit, Emirates Islamic, have introduced ‘WhatsApp Banking’, which allows customers to check ...

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Pakistan’s GDP to slow down to 2.7 percent in FY20: World Bank

NEW YORK: Pakistan’s GDP growth is projected to decelerate to 3.4 percent in the fiscal year FY19 from 5.8 percent a year before, and to 2.7 percent in FY20, as fiscal and monetary policies are tightened to address macroeconomic imbalances, the World Bank said in a report. Domestic demand is ...

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Jeff Bezos keeps Amazon voting power in divorce settlement

NEW YORK: Amazon Chief Executive Officer Jeff Bezos will retain voting control of his entire $143 billion stake in the company under a divorce settlement with his wife, MacKenzie Bezos, who will own 25 percent of those shares, the couple said on Thursday, removing uncertainty over control of the online ...

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