Tuesday, 19 September 2017


UK petrol prices could jump after Hurricane Harvey


LONDON: The price of unleaded petrol could surpass that of diesel in the coming days as a result of the disruption caused by Hurricane Harvey in the US, the RAC has warned. The drivers’ association said the price of a litre of unleaded in the UK could rise by up ...

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London mayor urged to promote factory-made houses


LONDON: The London Assembly planning committee wants mayor of London Sadiq Khan to take the lead in easing the way for developers to use system building techniques to mass-produce offsite manufactured homes (OSM) more quickly and cheaply than using traditional construction methods. A report1 published today by the committee says ...

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Ryanair CEO says won’t bid for Air Berlin

Air Berlin

BERLIN: Ryanair chief executive Michael O’ Leary said his airline would not make a bid for insolvent Air Berlin, slamming what he called a German “stitch-up” designed to benefit Lufthansa. Several airlines are jostling to take over parts of Air Berlin after it filed for insolvency earlier this month, a ...

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Malaysia’s Axiata to buy Pakistan telecom towers for $940 million

Malaysia’s Axiata

Malaysian telecommunications group Axiata Group Bhd (AXIA.KL) on Wednesday said it will buy communications towers in Pakistan for $940 million in partnership with local conglomerate Dawood Hercules Corp Ltd (DAWH.KA). Axiata said its telecommunications infrastructure services unit, edotco Group Sdn Bhd, and Dawood Hercules will buy 13,000 towers from Pakistan ...

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Britain facing social care crisis, charities warn

social care

LONDON: Britain is facing a social care crisis with many people unaware and unprepared for the potential care costs that come with older age. UK adults underestimated the average weekly cost for elderly residential care by over £300 when asked by think tank the Centre for the Modern Family. While ...

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Pound Euro Exchange Rate Recovers from 8-Year-Low

Pound Euro

LONDON: The Pound Euro exchange rate slipped yesterday as investors reacted to the latest Brexit uncertainties and tensions while the Euro benefitted from European Central Bank (ECB) speculation. However, the pair rebounded from its lows as markets anticipated upcoming data. GBP EUR dropped from 1.0944 to 1.0803 last week. Tuesday saw ...

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Burger King has launched its own version of bitcoin in Russia


MOSCOW: Fast food chain Burger King has issued its own cryptocurrency or virtual currency in Russia called “whoppercoin,” according to an online press release by whoppercoin’s blockchain platform, Waves. Cryptocurrency, in a nutshell, is any digital currency backed by a digital ledger of transactions monitored and verified by a global ...

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UK house price growth slows


LONDON: House price growth slowed to 2.1% in August, from 2.9% in July, amid fears Brexit-fuelled inflation is placing pressure on household spending, says the Nationwide. Property values fell for the first time since May, down 0.1% month-on-month to an average of £210,495. The number of mortgages approved for house ...

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Optimism wanes at UK services companies, labor shortages feared


LONDON: Optimism across Britain’s services sector fell during the three months to August, and companies felt the pinch from rising costs even though new business largely held up, an industry survey showed on Tuesday. The Confederation of British Industry’s quarterly report on the services sector, which produces the vast bulk ...

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