Friday, 14 August 2020

Business

Huawei announces securing 25 5G commercial contracts

DONGGUAN: Huawei Rotating Chairman Ken Hu held a press conference with leading global media at the company’s new campus in Dongguan. The journalists visited R&D labs showcasing materials and thermal management technologies developed for 5G equipment, as well as an independent cyber security lab. Hu delivered strong messages of confidence ...

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Sweden raises interest rates for first time in 7 years

STOCKHOLM-AFP: Sweden’s central bank hiked interest rates for the first time in seven years, raising the main repo rate by a quarter of a point to -0.25 percent. “As inflation and inflation expectations have become established at around 2 percent, the need for a highly expansionary monetary policy has decreased ...

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British Airways returns to Pakistan after 10 years

LONDON/ISLAMABAD: British Airways, the United Kingdom’s national carrier, has announced to restart flights to Pakistan after ten years. “British Airways returns to Pakistan. Direct flights from London Heathrow to Islamabad’s new airport start in June. A further boost to links between the UK and Pakistan – especially on trade and ...

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Greek court orders extradition to France of Russian Bitcoin suspect

ATHENS: The Greek Supreme Court on Wednesday ordered the extradition to France of Russian Alexander Vinnik, who headed the Bitcoin exchange BTC-e, on suspicion of money laundering, judicial sources said. In September, the Supreme Court had approved Vinnik’s extradition to Russia to face similar charges but on Wednesday it decided ...

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Morgan Stanley moves to speed up collaboration with tech startups

NEW YORK-Reuters: Morgan Stanley is simplifying the way it acquires new technologies from small companies to speed up collaboration and address long running concerns by startups that working with big banks is slow and costly. The bank has been taking steps to reduce the time it takes to begin working ...

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Pennsylvania lets Uber self-driving cars back on roads

SAN FRANCISCO: Authorities in the US state of Pennsylvania have given Uber the green light to resume testing self-driving cars, the ride-sharing giant said Tuesday, after a fatal crash in Arizona prompted a pause. Uber said it had received authorization to put autonomous cars back on the road in Pittsburgh, ...

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VW may have to step up electric car plans to meet EU CO2 targets

BERLIN/FRANKFURT/MUNICH: Volkswagen may have to step up its plans for mass production of electric vehicles in order to meet tougher-than-expected European targets to cut greenhouse emissions from cars, its chief executive said on Tuesday. The remarks came after the European Union agreed on Monday to cut CO2 emissions from cars ...

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MRI machine to be built to scan ‘human soul’, reveal Chinese scientists

BEIJING: Chinese scientists have revealed that they are planning to build the world’s most powerful brain scanner that could  scan the human “soul”. Chinese media, citing a senior scientist working on the project,  reported that  billions of yuans to be spent to build a powerful MRI machine which will “revolutionise ...

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Hitachi to buy majority stake in ABB’s power grid arm for $6.4 bn

TOKYO: Japan’s Hitachi announced plans to buy a majority stake in the power grid business of Swiss-Swedish engineering giant ABB for $6.4 billion, in what would be its biggest ever buyout. The deal would make Hitachi the world’s largest power grid company, local media said. Under the plan, ABB will ...

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