Thursday, 16 August 2018

Business

Trump ‘looking into’ rules on 3D-printed guns

WASHINGTON: US President Donald Trump said Tuesday he was mulling whether Americans should be able to make their own 3D-printed guns amid an uproar over his government’s settlement with a Texas entrepreneur who wants to provide free blueprints for the firearms. The tweet comes one day before Cody Wilson, a ...

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Robot hand learns human skills

SAN FRANCISCO:T hat’s how much virtual computing time it took researchers at OpenAI, the non-profit artificial intelligence lab funded by Elon Musk and others, to train its disembodied hand. The team paid Google $3,500 to run its software on thousands of computers simultaneously, crunching the actual time to 48 hours. ...

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Indian tycoon Vijay Mallya makes assets ‘offer’ to Indian court

LONDON: Indian tycoon Vijay Mallya said on Tuesday he had made an “unconditional offer” to an Indian court in a bid to settle fraud charges, as he continues to fight extradition from Britain. Mallya, chairman of the UB Group drinks conglomerate and chief executive of the financially ailing Force India ...

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Euro-Area Economy Gets Higher Inflation But Weaker Growth

Bloomberg: A bumper day of euro-area economic releases showed the region’s vital signs remain good, if not great. The region’s economic expansion entered a sixth year but growth slowed to just 0.3 percent, the weakest in two years. Inflation accelerated further above the European Central Bank’s goal, though that was ...

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Taxi strike targeting Uber brings chaos to Spanish cities

MADRID: A strike by Spanish taxi drivers is set to continue after talks with government officials failed yesterday. Spanish taxi drivers blocked major city streets including Barcelona’s Gran Via and Madrid’s Castellana in a protest to pressure the government to curb licences to online ride-hailing services such as Uber. El ...

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Beijing to shut 1,000 manufacturing firms by 2020

SHANGHAI: China’s capital Beijing will shut around 1,000 manufacturing firms by 2020 as part of a program aimed at curbing smog and boosting income in neighboring regions, state media said on Monday. Beijing will focus on dynamic, high-tech industries and withdraw from “ordinary” manufacturing, the Communist Party paper People’s Daily ...

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Iran’s rial hits record-low 100,000 to the dollar

TEHRAN: Iran’s currency hit a record low on Sunday of 100,000 rials to the dollar amid a deepening economic crisis and the imminent return of full US sanctions. The unofficial rate stood at 102,000 rials by midday, according to Bonbast, one of the most reliable sites for tracking the Iranian ...

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French luxury giants dive into Silicon Valley

LONDON: Steve Jobs may have been a tech genius, but he clearly didn’t care much for fashion. Facebook boss Mark Zuckerberg has followed in his footsteps, sporting a plain grey T-shirt every day for years only to swap it for a simple black suit to testify before Congress and the ...

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Apple, Amazon lead the pack to $1 trillion market value

NEW YORK: For a long time, Apple appeared to be flying solo to a $1 trillion market value, but Amazon is right at its heels – and experts have no fears of a tech bubble. Apple, at $939 billion, remains the highest-valued private company on the global markets – and ...

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China agrees to give $2 billion loan to Pakistan

FILE PHOTO: Bundles of banknotes of U.S. Dollar are pictured at a currency exchange shop in Ciudad Juarez, Mexico, January 15, 2018. REUTERS/Jose Luis Gonzalez/File Photo

REUTERS/Jose Luis Gonzalez/File Photo BEIJING:In a major development, China has agreed to immediately give a $2 billion loan to Pakistan, a move meant to arrest the sliding official foreign currency reserves and provide much-needed breathing space to the new government. The $2 billion loan will be categorised as an “official ...

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