Thursday, 18 October 2018

Business

Australia central bank holds rates with inflation soft

SYDNEY: Australia’s central bank held interest rates at a record low on Tuesday even as the economy grows strongly, with officials taking into account soft inflation figures and weak wages growth. The cash rate has been unchanged at 1.50 percent since the Reserve Bank of Australia last cut it in ...

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Sri Lanka central bank suprises, keeps key rates steady

COLOMBO: Sri Lanka’s central bank surprised the market on Tuesday by leaving its key policy rates unchanged, despite heavy pressure on the rupee currency and foreign outflows from government securities. The central bank kept the standing lending facility rate (SLFR) at 8.50 percent and standing deposit facility rate (SDFR) at ...

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Nikkei hits highest closing in almost 27 years

TOKYO: The benchmark Nikkei average gained further ground and closed at the highest level in almost 27 years on the Tokyo Stock Exchange, supported by the yen’s drop against the dollar. The 225-issue Nikkei average rose 125.72 points, or 0.52 percent, to end at 24,245.76, the best closing since Nov. ...

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Apple employee killed in Indian police shooting

  NEW DELHI: State police have arrested two constables in northern India over the fatal shooting of an Apple employee in an incident during a routine patrol. Vivek Tiwari, a sales manager for Apple, was shot dead early on Saturday by a police constable in the Gomti Nagar neighborhood in ...

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US, Canada in last-minute NAFTA deal: media

TORONTO: Canadian and US negotiators reached a deal late Sunday on reforming the North American Free Trade Agreement (NAFTA), Canadian media reported, after more than a year of talks triggered by US President Donald Trump’s discontent with the 24-year old pact. CTV cited a high-level American source as saying the ...

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Hong Kong banks hike lending rates for first time in 12 years

Two of Hong Kong ‘s biggest banks raised their lending rates on Thursday for the first time in 12 years, ending an age of cheap cash that could hit the city’s famously red-hot property market. The moves by HSBC and Standard Chartered came after the Hong Kong Monetary Authority – ...

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Pakistan, Russia ink $10bn gas pipeline deal

MOSCOW: Pakistani and Russian officials signed a historic $10-billion offshore gas pipeline agreement in Moscow. Inter State Gas Systems (ISGS), a state-owned Pakistani company, will work alongside Russia’s energy giant Gazprom, to execute the multibillion-dollar project. According to the agreement, Pakistan will import some 500 million to 1 billion cubic ...

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McDonald’s removes artificial ingredients from its classic burgers

NEW YORK :McDonald’s USA announced that its iconic burgers, including the Big Mac and the Quarter Pounder with Cheese, no longer have artificial preservatives, artificial flavours or added colors from artificial sources. Only the pickle slices still contain an artificial preservative, the American fast food giant said, noting that “customers ...

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Uber looking at Pakistan as potential market for flying cars

LAHORE: Uber, one of the biggest names in ride-hailing services worldwide, is hoping to transform the way people commute every day. To accomplish this, the company is eyeing flying cars as the next big step as part of its ‘Uber Elevate’ premier technology platform. What significance does this news have ...

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