Tuesday, 20 August 2019

Business

Pakistan to launch Panda Bond in Chinese Yuan

ISLAMABAD: For the first time in the country’s history, Pakistan on Thursday approved launching of Panda Bond in Chinese-denominated Yuan currency with possible transaction size equivalent to $500 million in two different tranches in order to finance its yawning trade deficit with Beijing. $300 million for Pakistan’s struggling economy. Pakistan’s ...

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Mexico increase bond issuance in first quarter of 2019

MEXICO CITY: Mexico will raise its planned bond issuance in the first quarter of 2019 and offer the same amount of treasury bills, or Cetes, the finance ministry said on Thursday. Issuance of peso-denominated bonds in three, five and ten-year maturities will each increase on average by 1.2 billion pesos ...

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Huawei says expects 2018 revenue at $109b, up 21%

HONG KONG: Huawei Technologies’ rotating chairman Guo Ping said in his new year’s address that the Chinese tech giant’s revenue in 2018 is expected to be $108.5 billion, up 21 percent year-on-year. Guo said Huawei has secured 26 5G contracts. Smartphone shipments in 2018 are expected to surpass 200 million ...

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Brazil’s Gol speeds up fleet renewal to reduce debt costs

AO PAULO: Brazilian airline Gol Linhas Aereas Inteligentes SA said it will replace 13 Boeing 737 Next Generation (NG) aircraft with the newer Boeing 737 MAX-8 between 2019 and 2021 as part of a plan to accelerate its fleet renewal and reduce debt costs. In a securities filing on Wednesday, ...

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GoFundMe Donors Getting More than $400,000 Refunds From Scam

MOUNT HOLLY-AP: GoFundMe says it has refunded everyone who contributed to a campaign involving a homeless veteran from Philadelphia who prosecutors allege schemed with a New Jersey couple to scam donors out of more than $400,000. GoFundMe spokesman Bobby Whithorne said Tuesday that “all donors who contributed to this GoFundMe ...

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Tokyo stocks plunge in Christmas rout

TOKYO: Tokyo stocks plunged on Tuesday as the few Asian markets open on Christmas suffered a holiday rout on fears about the US economy and a government shutdown in Washington. Tokyo markets, which were closed on Monday for a national holiday, plummeted at the open on Tuesday, with the Nikkei ...

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Maruti Suzuki to recall 5,900 mini pickup trucks

NEW DELHI: Maruti Suzuki India Ltd, the country’s top-selling car maker, said on Wednesday it would recall 5,900 mini pickup trucks to inspect a defect in the fuel filter of some units. The automaker will inspect the likely defect in its Super Carry vehicles manufactured between April 26 – Aug ...

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South Korea fines BMW 11.2b won for engine fires

SEOUL : South Korea’s transportation ministry fined BMW 11.2 billion won (US$9.93 million) for allegedly trying to hide faulty parts and belatedly recalling its vehicles after some engines caught fire. About 40 engines of BMW vehicles caught fire earlier this year, prompting the German luxury carmaker to recall some 100,000 ...

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Facebook secretly developing cryptocurrency for WhatsApp users

CALIFORNIA: Tech giant Facebook is secretly working on developing a cryptocurrency that will let users transfer money on WhatsApp. Initially it will be launched in India, people familiar with the matter say. Bloomberg reported that the company is developing a stablecoin – a type of digital currency pegged to the ...

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