Thursday, 19 September 2019

Business

Facebook to become ‘privacy-focused platform’: Zuckerberg

SAN FRANCISCO: Facebook is shifting to become “a privacy-focused messaging and social networking platform,” chief executive Mark Zuckerberg said Wednesday as he outlined a broad vision for transforming the social networking giant. Zuckerberg said on his Facebook page it would be less of “the digital equivalent of a town square” ...

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Reliance plans major expansion of fashion store business

MUMBAI: Reliance Industries Ltd plans to grow the number of low-cost Reliance Trends fashion stores across India to 2,500 from 557 over the next five years and integrate them with its online business, two people briefed on the plans said. The expansion, which has not been reported before, is the ...

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Japan’s service sector sentiment improves in February

TOKYO: Sentiment in Japan’s service sector improved in February from a month earlier, owing to warmer weather encouraging spending, a Cabinet Office survey showed Friday. The monthly Economy Watchers survey’s diffusion index, in which a score of more than 50 means people view current economic conditions in a positive light, ...

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India signs $3b nuclear-powered submarine deal with Russia

NEW DELHI: India has signed a $3 billion deal to lease a third Russian nuclear-powered submarine for 10 years, giving Delhi a boost in the Indian Ocean against Pakistan and China, media reports said. The deal – which according to the reports took months to negotiate – comes as tensions ...

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Uber settles Dutch criminal probe for 2.3mn euros

THE HAGUE: US ride-hailing giant Uber is to pay more than 2.3 million euros to settle a Dutch criminal probe into the breach of local taxi laws, prosecutors said Friday. The Netherlands settlement is the latest in a series around the world which has forced the company to shell out ...

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Tesla to close many stores, offer $35,000 Model-3

SAN FRANCISCO: Tesla Inc said it would offer a $35,000 version of its Model 3 sedan with a delivery time of two to four weeks while closing many of its retail stores worldwide, steps designed to increase demand and cut overhead costs for the electric vehicle maker. Chief Executive Elon ...

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World’s most expensive car unveils costing almost $19mn

PARIS: Marking its 110th anniversary, French automobile manufacturer Bugatti has unveiled its new car, which is the world’s most expensive car ever made, costing a whopping $18.9 million including taxes. Bugatti revealed its all new La Voiture Noire car at the 2019 Geneva Motor Show. Apart from being the most ...

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Singtel to buy $525mn worth stock in Bharti Airtel

SINGAPORE Telecommunications Ltd (Singtel) said it will buy roughly $525 million worth Bharti Airtel stock as part of the Indian telecoms operator’s plan to raise $4.6 billion through new shares and bonds. The fund raising plan, announced last month, is aimed at cutting debt and shoring up Bharti Airtel’s balance ...

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US trade deficit surges to 10-year high in 2018

WASHINGTON: The skyrocketing US trade deficit last year hit the highest level in a decade, a resounding failure for President Donald Trump’s global trade offensive, government data showed Wednesday. And America’s merchandise trade deficit – the main focus of Trump’s ire – surged to its highest level ever in 2018, ...

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ECB seen taking tentative step to prop up ailing euro zone

FRANKFURT: The European Central Bank will slash growth forecasts on Thursday and is likely to provide its strongest signal yet that fresh stimulus is coming in the form of more cheap loans, hoping to stop an unexpected slowdown from becoming a downturn. With a global trade war and Brexit uncertainty ...

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