Sunday, 5 July 2020

Business

Italy govt approves use of special powers over 5G supply deals

ROME: Italy’s new government approved on Thursday the use of special powers in deals to purchase goods and services related to 5G technologies signed by a number of domestic telecoms group with suppliers including China’s Huawei and ZTE Corporation. The measures were adopted under a law passed by the previous ...

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UK house prices rise at fastest pace in 3 months in August

LONDON: British house prices rose in August at the fastest annual pace in three months, mortgage lender Nationwide said on Friday, adding to tentative signs the housing market has picked up from its recent pre-Brexit slowdown. House prices rose 0.6% year-on-year after a 0.3% rise in July, Nationwide said. On ...

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ECB’s easing measures work best in a package

FRANKFURT: The European Central Bank can provide stimulus through a number of instruments but they work best in a package, Finnish central bank chief Olli Rehn told the Eurofi Magazine. “We can push the policy rate into negative territory, employ forward guidance on the future policy path, purchase a significant ...

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Ryanair pilots to stage UK strikes

LONDON: British pilots at the low-cost airline Ryanair will strike during September to press for better working conditions and pay, the BALPA union said Wednesday. The pilots have planned strikes for seven days between September 18 and 29, the union said. “Pilots in Ryanair are seeking the same kind of ...

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Samsung to launch $2,000 Galaxy Fold in Korea on Sept 6th

SEOUL: Samsung Electronics Co Ltd on Thursday said its first foldable smartphone, the Galaxy Fold, will be available in South Korea from Sept. 6 with fifth-generation (5G) mobile connectivity. The world’s largest smartphone vendor said the device would be priced 2.398 million won ($1,977.47). The highly anticipated handset was originally ...

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Amazon may need to raise prices to offset latest tariff blow

NEW YORK: Amazon Inc will need to raise prices in the United States by about 2.1pc-2.6pc on average to offset the impact of fresh tariffs slapped by the Trump administration on various Chinese goods, Bank of America Merrill Lynch analysts estimated. The United States began imposing 15pc tariff on a ...

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Tata Steel to shut some operations in UK, 400 jobs at stake

BENGALURU: Tata Steel Ltd said on Monday it would shut parts of its non-core businesses in the United Kingdom, a move that could cost about 400 jobs. The steelmaker proposed to close its loss-making Orb Electrical Steels site in South Wales, potentially affecting up to 380 jobs, as it was ...

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Aigle Azur goes into receivership

PARAY-VIEILLE-POSTE: France’s second-largest airline Aigle Azur went into receivership after filing for bankruptcy Monday, following years of losing millions of euros, France’s civil aviation authority (DGAC) said. “The Aigle Azur airline was today placed in receivership,” the authority said in a statement, citing “several months of cash flow problems”. It ...

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Huawei denies US allegations of technology theft

PARIS: Beleaguered Chinese telecom giant Huawei denied accusations reported in the Wall Street Journal that it stole technology from a Portuguese inventor, accusing him of “taking advantage of the current geopolitical situation.” The US Department of Justice is looking into the claim, potentially adding to existing criminal cases against Huawei, ...

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Cathay warns staff face sack if they join Hong Kong strike

HONG KONG: Cathay Pacific has warned staff they risk being sacked if they join a planned Hong Kong strike, as the airline intensifies its crackdown on employee support for the rolling pro-democracy protests. Hong Kong’s flagship carrier, which has 27,000 staff in the city, has been accused of bowing to ...

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