Saturday, 4 July 2020

Business

Apple unveils first new iPod model in four years

LONDON: Apple introduced its first new iPod model in four years, highlighting music and games as it continued to make a priority of serving up digital content. The new-generation iPod touch, essentially an iPhone without the phone calls, was available in more than two dozen countries at Apple’s online shop ...

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Pakistan Stock Exchange CEO Richard Morin resigns

KARACHI: Pakistan Stock Exchange (PSX) chief executive officer Richard Morin resigned from his post. A notification of his resignation was shared on the PSX website. According to DawnNewsTV, an emergency meeting of the PSX Board of Directors (BoD) was held today during which Morin submitted his resignation. It was approved by ...

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Alibaba mulls second listing to raise $20bn

HONG KONG: Alibaba Group Holding Ltd is considering raising $20 billion through a second listing in Hong Kong, Bloomberg reported on Monday, citing unnamed people with knowledge of the matter. The Chinese e-commerce company is working with financial advisers on the planned offering and is aiming to file a listing ...

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Huawei reviewing FedEx relationship, says packages ‘diverted’

HONG KONG: Chinese telecoms equipment maker Huawei is reviewing its relationship with FedEx Corp after it claimed the US package delivery company, without detailed explanation, diverted two parcels destined for Huawei addresses in Asia to the United States and attempted to reroute two others. Huawei told Reuters that FedEx diverted ...

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Shell reports discovery of Albanian oil deposit

TIRANA: Anglo-Dutch oil giant Shell said it had made “a significant light oil discovery” in Shpirag, a mountain region some 120 kilometres (72 miles) from the Albanian capital Tirana as earlier tests bore fruit. “We are pleased that these initial tests have confirmed the potential of this discovery and look ...

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Samsung may gain from Huawei’s plight in ongoing trade war: Fitch

SOUL: Samsung may have a chance to strengthen its position in the smartphone market due to the hurt caused to Huawei Technologies in the wake of US-China trade tensions, according to Fitch Ratings. Tech companies, including Google and SoftBank Group-owned chip designer ARM, have said they will cease supplies and ...

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Pakistan bracing for austere budget under IMF, finance chief says

ISLAMABAD: Pakistan is preparing a belt-tightening budget to tame its fiscal deficit, the de facto finance minister said on Saturday, adding that both civilian and military rulers agreed austerity measures were needed to stabilize the economy. But Hafeez Shaikh, Prime Minister Imran Khan’s top finance adviser, declined to say whether ...

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Fiat Chrysler proposes merger with Renault

Fiat Chrysler is proposing a merger with French carmaker Renault aimed at saving billions of dollars for both companies. Fiat Chrysler Automobiles said in a statement Monday that the merged company would be 50 percent owned by FCA shareholders and 50 percent by Renault shareholders. Renault’s board is meeting outside ...

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China prepares law that may ban US tech firms

BEIJING: China’s Cyberspace Administration has proposed a set of cybersecurity measures which, if signed into law, would require operators of China’s critical information infrastructure to “evaluate national security risk” when acquiring foreign products and services, the South China Morning Post reports. China’s internet watchdog is said to have published the draft regulation online for public feedback ...

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