Friday, 18 October 2019

Business

Huawei founder: We will shift our investment from the US to the UK

LONDON: BEIJING: The founder of Huawei commented on the arrest of his daughter, Meng Wanzhou, Huawei chief financial officer, noting that he believes that arrest was politically motivated. In his first international broadcast interview since his daughter arrest, Ren accused the US of forcing other countries into the campaign against Huawei. “There’s no way ...

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HSBC pre-tax profit up 16pc at $19.9bn in 2018

HONG KONG: Banking giant HSBC said on Tuesday that pre-tax profit rose 16 percent to $19.9 billion last year with growth across its global businesses despite a “challenging external environment in the fourth quarter”. Adjusted pre-tax profit also rose 3 percent year-on-year to $21.7 billion following the appointment of new ...

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Porsche warns of Brexit price hike on UK cars

LONDON: Porsche customers in the UK should brace for a price hike of up to 10 percent in case of a hard Brexit, the luxury German carmaker warned Monday. The company said it had taken the “precautionary step” of informing customers whose cars are due to be delivered after March ...

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Saudi crown prince signs $20 billion in agreements with Pakistan

ISLAMABAD: Pakistan and Saudi Arabia usher in a new era of bilateral relationship by signing investment deals worth more than $20 billion during visit of Saudi Crown Prince Mohammed bin Salman, who arrived in Islamabad on Sunday. The unprecedented Saudi investment is seen as a ‘game changer’ and major boost ...

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Apple to introduce a foldable mobile phone

LONDON: Taking a cue from Samsung, Apple is working to launch a phone that folds. A new patent filed by the Cupertino, California based iPhone maker, is all set to introduce the phone that it describes as ‘the purported device with a flexible display that enables it to fold in ...

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Prague could lose 0.5-1 GDP in case of no-deal Brexit: Czech Foreign Minister

PRAGUE: The possible exit of the United Kingdom from the European Union without an agreement may cost the c economy 0.5-1 percent of GDP, Czech Foreign Minister Tomas Petricek told reporters. “There are several possible scenarios. The most pessimistic options, of course, come from the ‘no-deal’ Brexit. Estimates indicate a weakening of the ...

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France mulls increasing annual assistance for Pakistan to €500m

PARIS/ISLAMABAD: The French government is considering to increase the portfolio of financial assistance for Pakistan to € 500 million per annum from the current around € 150 million. The disclosure was made by Dr Marc Baréty, Ambassador of France to Pakistan, in a meeting with the Federal Secretary Ministry of ...

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Ex-Coca-Cola Engineer Charged With Stealing Secrets

WASHINGTON: A former senior engineer at Coca-Cola was indicted Thursday in Tennessee for stealing trade secrets worth an estimated $120 million to give to a Chinese company, the Justice Department announced. US national You Xiaorong allegedly stole technology for valuable BPA-free packaging jointly owned by several companies, including a former ...

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Huawei ranks world’s third biggest chip buyer

BEIJING – Huawei Technologies Co. ranked the world’s third-largest buyer of semiconductors in 2018, following Samsung Electronics Co. and Apple Inc, the China Daily reported, citing a recent report by U.S.-based research firm Gartner Inc. The Chinese tech company spent over 21 billion U.S. dollars on semiconductor chips last year, ...

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Hungary sells more bonds than planned

BUDAPEST: Hungary sold 90 billion forints ($318.19 million) worth of government bonds at an auction on Thursday, 25 billion forints more than initially offered, the Government Debt Management Agency (AKK) said.

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