Wednesday, 17 July 2019

Business

Pakistan hopes IMF will approve $6b bailout package

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.

ISLAMABAD: Pakistan believes that International Monetary Fund (IMF) would approve bailout package worth of $6 billion in its executive board meeting on July 3, 2019 as Islamabad has taken all advance actions agreed with the Fund. Pakistan had agreed with the IMF for taking tough economic decisions before the Fund ...

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Ryanair seeks to limit UK share holding with buyback amendment

DUBLIN: Ryanair amended the terms of a 700 million euro ($795 million) share buyback on Wednesday to allow block repurchases it said could limit the holdings of British shareholders and ensure it remains majority EU-owned after Brexit. Ryanair triggered contingency plans in March to restrict the voting rights of British ...

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San Francisco first major US city to ban e-cigarette sales

SAN FRANCISCO became the first major US city to effectively ban the sale and manufacture of electronic cigarettes, as concerns grow over a sharp rise in vaping among youths. The city’s legislature unanimously approved an ordinance suspending the sale in shops or online of e-cigarette products that lack approval by ...

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China stops meat imports from Canada amid strained bilateral ties

BEIJING: China has stopped importing meat from Canada, the National Post, a Canadian newspaper, cited an unnamed spokesman for the Chinese embassy as saying. The spokesman explained that the decision comes after the feed additive “ractopamine”, which is permitted in Canada but banned in China, was found in Canadian pork shipments. He added ...

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Instagram chief insists it doesn’t spy on users

NEW YORK: Instagram doesn’t snoop on private conversations as part of its advertising targeting strategy, the head of the popular social media site said in an interview. “We don’t look at your messages, we don’t listen in on your microphone; doing so would be super problematic for a lot of ...

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New Pakistan, New PIA

LONDON: Pakistan International Airlines commonly referred by PIA is the national flag carrier of Pakistan is a success story in 2019. Although, during the past few years major commercial airlines and global aviation industry has suffered badly due to skyrocketing fuel prices, decrease in air travel and Volcanic Ash over ...

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Bitcoin trades above $11,000

LONDON: Bitcoin tested 15-month highs after jumping more than 10pc over the weekend, with analysts ascribing the spike to growing optimism over the adoption of cryptocurrencies after Facebook unveiled its Libra digital coin. The original cryptocurrency hit $11,247.62 on the Bitstamp exchange, its highest since March last year. It later ...

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Amazon’s beauty store poses threat to beauty retailers

NEW YORK: Amazon Inc unveiled its online professional beauty store to sell supplies to licensed professional stylists, barbers and estheticians, weighing on shares of other beauty retailers. It would sell a wide range of brands from Wella Color Charm and RUSK to OPI Professional, and other supplies typically found in ...

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Daimler to recall 60,000 Mercedes diesels in Germany

FRANKFURT: Daimler must recall 60,000 Mercedes diesel cars in Germany after regulators found that they were fitted with software aimed at distorting emissions tests, the Transportation Ministry said. The model affected is the Mercedes-Benz GLK 220 produced between 2012 and 2015. Daimler confirmed that the recall was ordered on Friday ...

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Exxon Mobil seeks bids for Norwegian offshore assets

OSLO: Exxon Mobil is considering selling all of the stakes it holds in oil and gas fields off the Norwegian coast, a spokeswoman said. Two years ago the U.S. major – the world’s largest oil company – sold its operated assets in the area. But it has retained stakes in ...

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