Thursday, 12 December 2019

Business

Rolls-Royce agrees to inspection of problematic Trent engines

LONDON: Rolls-Royce has agreed to an early inspection of some Trent 1000 TEN engines by regulatory authorities, a week after Singapore Airlines Ltd grounded two Boeing Co 787-10 jets fitted with the units. The latest version of the Trent engine has been dogged by problems since entering service at the ...

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Holland man completes world’s longest electric car trip

SYDNEY: A Holland man has completed 95,000 kilometre trip on his electric car in Sydney to prove the viability of such vehicles in tackling climate change. Wiebe Wakker drove his car nicknamed “The Blue Bandit” across 33 countries. The trip that was funded by public donations took over three years ...

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Now you can do banking through WhatsApp in UAE

DUBAI: UAE banks are continuing to set the bar when it comes to technology adoption in the region, with a new focus on offering customer services through social media apps. Dubai’s largest bank, Emirates NBD, and its Shariah-compliant unit, Emirates Islamic, have introduced ‘WhatsApp Banking’, which allows customers to check ...

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Pakistan’s GDP to slow down to 2.7 percent in FY20: World Bank

NEW YORK: Pakistan’s GDP growth is projected to decelerate to 3.4 percent in the fiscal year FY19 from 5.8 percent a year before, and to 2.7 percent in FY20, as fiscal and monetary policies are tightened to address macroeconomic imbalances, the World Bank said in a report. Domestic demand is ...

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Jeff Bezos keeps Amazon voting power in divorce settlement

NEW YORK: Amazon Chief Executive Officer Jeff Bezos will retain voting control of his entire $143 billion stake in the company under a divorce settlement with his wife, MacKenzie Bezos, who will own 25 percent of those shares, the couple said on Thursday, removing uncertainty over control of the online ...

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Swiss Media Giant Now Pays Its Employees in Bitcoin

Switzerland-based media behemoth Netzmedien AG is adapting to the new age of money by ditching fiat currencies in favor of crypto. From now on, all 30 employees of the publishing house will receive salaries in BTC, the company’s announcement states. The decision to receive salaries in BTC was taken by ...

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Volkswagen seals 10-year lithium deal for electric cars

FRANKFURT AM MAIN: German car behemoth Volkswagen said Friday it had secured 10 years’ worth of lithium for electric car batteries from Chinese manufacturer Ganfeng, ensuring supply of a key ingredient for the vital components. The two firms “signed a memorandum of understanding (MoU) on long-term lithium supplies for battery ...

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Boeing cuts 737 MAX production rate by 10 planes per month

NEW YORK: Boeing announced Friday it would cut the production schedule of its 737 aircraft line following the two recent crashes that have seen the 737 MAX grounded worldwide. The aerospace giant plans to trim production to 42 planes per month, down from 52 per month, starting in mid-April. Boeing ...

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Brazil’s Petrobras accepts $8.6bn bid for gas unit

RIO DE JANEIRO: Brazil’s debt-laden Petrobras has accepted an $8.6 billion offer for its natural gas pipeline unit TAG, the state oil giant said Friday, as it offloads assets to repair its finances. The top bid from France’s Engie and Canadian investment fund Caisse de Depot and Placement du Quebec ...

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Tesco to report jump in profit

LONDON: Britain’s biggest retailer, is expected to report on Wednesday a 27 percent jump in full-year profit, putting it firmly on track to meet the medium-term targets Chief Executive Dave Lewis set out in 2016, despite the cloud of Brexit. The supermarket group, currently celebrating its 100th year, is being ...

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