Saturday, 23 June 2018

Business

Pakistan’s GSP Plus arrangements to be maintained by UK post-Brexit

KARACHI: British Deputy High Commissioner Elin Burns, while highlighting the British government’s commitment, said that when UK leaves European Union (EU), Pakistan’s GSP Plus arrangements will be maintained by UK, if not improved. “We will unilaterally agree to put those GSP Plus arrangements in place which is going to be ...

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New electric London taxi set to be exported to Norway

LONDON: London’s black cab-maker said its new electric taxi will be exported to Norway next year, its second foreign market as the Chinese Geely-owned firm pursues a major expansion plan. The London Electric Vehicle Company (LEVC) picked Amsterdam earlier this year as its first overseas destination, where around 225 vehicles ...

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High speed broadband to become a legal right

LONDON: The Government has confirmed that universal high speed broadband will be delivered by a regulatory Universal Service Obligation (USO), giving everyone in the UK access to speeds of at least 10 Mbps by 2020. This is the speed that Ofcom, the independent regulator, says is needed to meet the ...

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UK car output down as domestic demand plummets by 28%

LONDON: UK car production was dealt its biggest blow of the year in November as domestic demand plummeted by 28.1%. This ensured a fall in output of 4.6%, or a drop of 7757 units, to 161,490 cars compared with the same month in 2016. November was the fourth consecutive month of decline in ...

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France Says Expansion to Continue

T he French economy can look forward to continued steady growth in 2018, thanks to a sharply improved business climate. France’s return to economic growth should remain on course in 2018, in step with its European neighbors, the national statistics agency said. Citing a “buoyant” world environment, INSEE revised its ...

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South Korea Investigating North Korea in Bitcoin Hack

SEOUL: South Korean officials are investigating whether North Korea was involved in the theft from and collapse of a bitcoin exchange in South Korea Tuesday, according to published reports. The Wall Street Journal reported late Wednesday that investigators are looking into the hack of Youbit, based in Seoul, and added ...

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EU Banks in UK likely to operate ‘as normal’ after Brexit

LONDON: The Bank of England will allow European banks to continue selling their services in the United Kingdom without having to create expensive subsidiaries after Britain leaves the European Union. The decision, if confirmed, would mean European banks offering wholesale services would not face new post-Brexit hurdles to operating in ...

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First vending machine for homeless people launches in Nottingham

LONDON: The world’s first vending machine for homeless people opened today in Nottingham – but this is ‘just the beginning’. The city’s homeless will now be able to come to a 24-hours-a-day machine in the intu Broadmarsh shopping centre to pick up essentials such as fresh fruit, sanitary towels, socks, ...

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Tesco wins final approval for Booker takeover ​

LONDON: Britain’s competition regulator gave final clearance to Tesco’s (L:TSCO) 3.7 billion pound takeover of wholesaler Booker (L:BOK), tightening the grip of the country’s largest retailer on its food market. The Competition and Markets Authority (CMA) said it had concluded the deal, announced in January, does not raise competition concerns. ...

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