Friday, 28 February 2020


Oil supply drops as Iran sanctions bite: IEA

PARIS: The world’s oil supply fell last month, the International Energy Agency said on Wednesday, amid rising global tensions as US sanctions on Iran tightened and Opec+ members produced less crude in line with their pact. In its latest monthly report on the global oil market, the Paris-based IEA said ...

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Huawei ready to sign ‘no-spy’ deal with UK

LONDON: Chinese telecom giant Huawei is willing to sign a “no-spy” agreement with countries including Britain, the firm’s chairman said, as the head of NATO said Britain must preserve secure mobile networks. Liang Hua visited Britain as the government weighs the risks of allowing the Chinese company to help develop ...

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Nestle in talks with EQT Partners-led consortium

Nestle SA is in exclusive talks with a consortium led by private equity firm EQT Partners for a sale of its skin health unit, according to a source familiar with the matter. EQT is putting the finishing touches to the deal, which would value the unit at up to $10 ...

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Intel discloses new security flaw in its chips

SAN FRANCISCO: Intel has discloses a new security flaw in its processors that could allow potential attackers to steal sensitive data from Intel-powered computers or even cloud servers. The world’s top chipmaker called the new group of vulnerabilities embedded in the architecture of computer hardware as Microarchitectural Data Sampling (MDS). ...

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Toshiba profit up on chip business sale

TOKYO: Japanese engineering firm Toshiba reported improved full-year net profit thanks to the sale of its chip business, but said operating profit was sharply down. In the year that ended March, Toshiba’s net profit jumped 26.0 percent to 1.01 trillion yen ($9 billion), chiefly because of “profit from completion of ...

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China hikes tariffs on US goods after Trump warning

BEIJING: China said it would impose higher tariffs on most U.S. imports on a revised $60 billion target list, hitting back at a tariff hike by Washington on $200 billion of Chinese goods in a further escalation of a bitter trade war. The retaliation comes as U.S. President Donald Trump ...

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Facebook removes fake Italian accounts ahead of EU election

ROME: Facebook shut down phony Italian accounts and pages spreading fake news ahead of European Union parliamentary elections, prompting opposition lawmakers to call Monday for tougher laws to curb online misinformation. “We have removed a number of fake and duplicate accounts that were violating our authenticity polices,” the social network ...

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Metro Bank says well advanced in equity raising plan

LONDON: Metro Bank Plc’s plan to raise about 350 million pounds ($455 million) of equity capital to support its growth is well advanced, the British bank said in a statement. The company said it had started final discussions with existing and new shareholders and feedback has been positive. The equity ...

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Pakistan growth to hit eight-year low as IMF bailout looms

Pedestrians walk past the International Monetary Fund headquarters' complex in Washington Sunday, May 2, 2010. A senior International Monetary Fund official says the IMF's executive board is meeting in Washington to consider how much aid to grant Athens under a massive rescue loan package.

KARACHI: Pakistan’s growth rate is set to hit an eight-year low, a government report predicted Friday, with all major indicators down as the country continues negotiating its 22nd bailout from the International Monetary Fund. A report by the National Accounts Committee, released late Thursday, forecast growth of a mere 3.3 ...

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