Monday, 17 December 2018

Business

IMF says Venezuela to see 1 mn percent inflation by year-end

CARACAS: Amid the financial and humanitarian crisis in Venezuela, the country is expected to see hyperinflation reach epic proportions: a million percent a year by the end of 2018, the International Monetary Fund said. And the nation’s economic collapse will increasingly spill over into neighboring countries, the IMF said in ...

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Forging a full fibre broadband and 5G future for all

GOV.UK LONDON: Mandatory full fibre broadband for all new build homes and a new priority to connect hard-to-reach rural areas are key measures proposed in a national, long-term strategy for UK telecommunications. The new approach is aimed at driving large-scale commercial investment in the fixed and wireless networks that are ...

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Facebook to double office presence in London

LONDON: Facebook said on Monday it would double its presence in London, acquiring nearly 600,000 square feet (56,000 square meters) of office space across two buildings in King’s Cross – enough for more than 6,000 workstations. The social network did not say how many jobs it would add in the ...

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Trump threatens tariffs on all $500 billion of Chinese imports

© Aly Song / Reuters

© Aly Song / Reuters WASHINGTON/BEIJING: U.S. President Donald Trump said he was ready to impose tariffs on all $500 billion of imported goods from China, threatening to escalate a clash over trade policy that has unnerved financial markets. “We’re down a tremendous amount,” Trump said in an interview about trade ...

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Canadians feel little pain of rate hikes – so far

OTTAWA: Canadian consumers are feeling little pain from four rate hikes by the Bank of Canada, despite all warnings to the contrary, with most escaping higher monthly mortgage costs, others priced out of home buying altogether, and many enjoying income gains. Data released on Friday showed retail sales rose 2.0 ...

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GlaxoSmithKline considers splitting up the group

REUTERS: GlaxoSmithKline Plc is considering a break-up of the group after investors pressed the company’s board to spin off its consumer division, the Financial Times reported on Friday (Jul 20). GSK Chairman Philip Hampton has been in discussions with the group’s biggest shareholders about the creation of a standalone pharma ...

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WhatsApp to limit message forwarding after India mob lynchings

LONDON: Facebook Inc’s WhatsApp is launching a test to limit forwarding messages that will apply to all users, the messaging app said, after Indian authorities sought curbs on spread of rumors that have led to violent incidents. Mob lynchings triggered by false incendiary messages in India, WhatsApp’s biggest market with ...

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Slow sales: Volkswagen to furlough 1,000 workers in Brazil

SAO PAULO: Volkswagen AG will furlough about 1,000 workers at its largest factory in Brazil, union representatives said on Thursday, due to weaker economic growth and slumping exports to Argentina. The month-long furlough will start Aug. 21 at the VW plant in Sao Bernardo do Campo, on the outskirts of ...

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Stock markets mostly drop, pound extends losses

LONDON: Stock markets mostly fell Thursday, as the US Federal Reserve chief’s upbeat assessment of the economy failed to allay concerns about a global trade war, analysts said. The dollar rose across the board, with the pound slumping under $1.30 for the first time in 10 months as weak UK ...

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KSA to buy five warships from Spain’s Navantia

RIYADH : Saudi Arabia’s state-owned defence company has forged a deal with Spanish shipbuilder Navantia for a joint venture to build five warships, state media said. The agreement with Saudi Arabian Military Industries (SAMI) for the design and construction of five Avante 2200 corvettes warships will start this autumn, with ...

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