Friday, 13 December 2019

Business

Alibaba Founder Jack Ma is a Communist Party Member

BEIJING: Founder of Chinese tech giant Alibaba, Jack Ma, is among the world’s richest people and has also emerged as a member of another club – China’s 89-million-strong Communist Party. The billionaire’s Communist bonafides were revealed by the People’s Daily, the party’s official mouthpiece, in an article praising contributors to China’s ...

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“Cultural Misunderstanding”: Dolce & Gabbana Apologises For China Video

SHANGHAI: Dolce & Gabbana’s co-founders asked for China’s “forgiveness” on Friday, trying to salvage a crucial market for the luxury brand after a backlash against its latest advertising campaign. The Italian fashion house cancelled a marquee show in Shanghai on Wednesday after celebrities and social media users threatened a boycott over ...

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New Zealand allocates $15.6m to get more kids on bikes

New Zealand Associate Transport Minister, Julie Genter, on Monday, said that the New Zealand Transport Agency will provide 15.6 million U.S. dollars over the next three years to expand the Bikes in Schools Programme. Ms Genter said that it will also introduce cycle skills education so as to get more ...

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Oil prices collapse as glut fear triggers heavy selling

LONDON: Oil prices slumped to lows not seen since last year as concerns over high crude supplies triggered massive selling, dealers said. The WTI futures contract, the New York commodities markets’ benchmark, and its European counterpart Brent Crude both fell more than six per cent on the day. High global ...

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Facebook to Pay $100 Million in Italian Fiscal Accord

LONDON: Social media giant Facebook has agreed to pay more than 100 million ($114 million or roughly Rs. 800 crores) to end a fiscal fraud dispute, Italian tax authorities said. Italy has already drawn similar agreements from Amazon, Apple, and Google, joining EU neighbours seeking a bigger tax take from multinationals ...

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European privacy search engines aim to challenge Google

LONDON: In the battle for online privacy, Google is a US Goliath facing a handful of European Davids. The backlash over Big Tech’s collection of personal data offers new hope to a number of little-known search engines that promise to protect user privacy. Sites like Britain’s Mojeek , France’s Qwant ...

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Brexit deal: The end of a loveless 46-year marriage

Ouerdya AIT ABDELMALEK: The divorce deal approved by Britain and the European Union on Sunday sets the stage for the end of a nearly 46-year marriage of convenience, built on prudence rather than shared dreams. “It’s been a utilitarian relationship since 1973 and the emphasis was always on the economic ...

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EU, Britain agree draft declaration on post-Brexit ties

  LONDON: The EU and Britain agreed a draft declaration laying out plans for “ambitious, broad, deep and flexible” relations after Brexit, setting the stage for the divorce to be finalised at a weekend summit. The EU Council President Donald Tusk said the 26-page declaration, outlining how Britain will work ...

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Sri Lanka state banks to borrow up to $1bn before end 2018

COLOMBO: Sri Lanka’s three state banks will borrow up to $1 billion from foreign sources before the end of 2018 and use the money to pay off maturing foreign loans, Finance Ministry Secretary S.R. Attygalle said on Thursday. Sri Lanka, which is currently embroiled in a political crisis following the ...

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Samsung Electronics apologises for semiconductor cancer cases

SEOUL: Samsung Electronics apologized Friday to workers who developed cancer after working at its semiconductor factories, ending a decade-long dispute at the world’s top chipmaker. “We sincerely apologise to the workers who suffered from illness and their families,” said Samsung co-president Kim Ki-nam. “We have failed to properly manage health ...

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