Wednesday, 22 May 2019
Breaking News

Business

Deutsche Telekom sues German government over 5G auction

FRANKFURT: Deutsche Telekom has filed a lawsuit against Germany’s Federal Network Agency protesting preconditions for participating in a next-generation mobile network frequency auction, Die Welt newspaper said on Tuesday. Germany stipulated that bidders for 5G mobile frequencies must invest to expand the country’s mobile network and potentially allow new entrants ...

Read More »

500-euro note gets last print run

PARIS: The eurozone is moving to stop printing 500-euro banknotes, the violet-coloured bills that authorities fear are favoured by criminals, with most of the 19 nations in the currency bloc to halt issuing them next month. “As of 27 January 2019, 17 of the 19 national central banks in the ...

Read More »

US ambassador to UK Johnson warns on trade deal

NEW YORK: Donald Trump’s offer of a “quick, massive, bilateral trade deal” will not be possible if Theresa May’s EU withdrawal agreement is approved, the US ambassador to the UK has warned. President Trump had previously said her Brexit proposal sounded like a “great deal for the EU”. Woody Johnson ...

Read More »

Aramco buys out 50pc stake of Lanxess

BERLIN: Saudi national petroleum company Saudi Aramco said it had completed an acquisition of a 50-percent stake in synthetic rubber joint venture Arlanxeo from the German chemical company Lanxess for 1.5 billion euros ($1.72 billion). As a result of the deal, Saudi Aramco became the sole shareholder of Arlanxeo. “ARLANXEO, ...

Read More »

EU’s Juncker tells UK: ‘Get your act together’ on Brexit

PARIS: European Commission president Jean Claude-Juncker has told the UK to “get your act together” over Brexit. The top Brussels official claimed it is “entirely unreasonable” for Britons to believe it is up to the EU to “propose a solution”, as he denied he is trying to keep the UK ...

Read More »

Qatar promises more jobs to Pakistanis

DOHA: Qatar’s Deputy Prime Minister and Foreign Minister Sheikh Mohammed bin Abdul Rahman al Thani on Sunday assured Foreign Minister Shah Mehmood Qureshi that his country will take new measures to provide more jobs to Pakistanis. The assurance came during Foreign Minister Qureshi’s one-day official visit to Qatar. Qureshi held ...

Read More »

Austria plans new tax on tech giants

Austrian Chancellor Sebastian Kurz has announced that it will introduce its own tax on Apple, Facebook, Google and other companies allegedly dodging their fair share. Most details aren’t available at this stage, but you’ll get a basic outline in early January. It would take effect as part of broader tax ...

Read More »

Trade wars cost US, China billions of dollars each in 2018

CHICAGO : The US-China trade war resulted in billions of dollars of losses for both sides in 2018, hitting industries including autos, technology – and above all, agriculture. Broad pain from trade tariffs outlined by several economists shows that, while specialized industries including U.S. soybean crushing benefited from the dispute, ...

Read More »

London’s Gatwick airport sold to French Vinci conglomerate

PARIS–AFP: French building conglomerate Vinci said it was adding Gatwick airport, Britain’s second-busiest, to the dozens of hubs it already owns, booking a majority stake for nearly three billion pounds. The purchase of Gatwick, which is Europe’s eight-biggest airport and runs the busiest single runway in the world, comes only ...

Read More »