Tuesday, 16 October 2018

Tag Archives: investment

Currency crisis in Turkey – Qatar offers aid to Ankara

ISTANBUL: The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira. The White House stance appeared to give ...

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Beijing eases investment curbs as clash with US looms

BEIJING: China is ending limits on foreign ownership in auto manufacturing, insurance and other fields but didn’t directly address complaints about trade and technology that are fueling conflict with Washington. The change, announced late on Thursday, had been sought by Washington, Germany and other trading partners. They complain Beijing blocks ...

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ASOS ups investment as sales grow 27 percent

LONDON: Online fashion retailer ASOS said it would step up its investment in logistics and distribution after reporting a 27 percent rise in first-half sales on Wednesday and forecasting similar growth in the second half. The British company, which targets twenty-something shoppers, reported retail sales of 1.13 billion pounds, and ...

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London was top destination for tech funding in 2017

LONDON was the top city in Europe for technology investment last year, with more funding going into companies in the British capital than into firms based in Paris, Berlin and the next seven cities combined, data showed on Friday. Tech firms in London attracted 2.45 billion pounds ($3.3 billion) in ...

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Pakistan allows yuan-based trade with China

KARACHI: Pakistan’s central bank has allowed the Chinese yuan to be used for bilateral trade and investment activities, a move which could replace the US dollar for transactions in the strategic CPEC projects. The State Bank of Pakistan (SBP) said on Monday that all arrangements for using the Chinese currency ...

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London Mayor grateful to Pakistan for its hospitality

LAHORE: I’m proud to be the first-ever Mayor of London to be making an official visit to Pakistan. As someone of Pakistani heritage, I feel a deep affinity with the country and I’m looking forward to going back. London and Pakistan share a long and unique history that has had ...

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Winklevoss twins become world’s first bitcoin billionaires

SINGAPORE: Tyler and Cameron Winklevoss – the Harvard University rowing twins who famously sued Mark Zuckerberg claiming he stole their idea for Facebook – have just become the world’s first bitcoin billionaires, say media reports. The 36-year-old brothers lost their case against Zuckerberg but received a settlement of US$65 million ...

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Google puts Uber on alert by investing in arch-rival Lyft

LONDON: Alphabet’s growth-stage investment division, CapitalG, will lead the the investment, which comes four years after Google Ventures, which targets early stage companies, made a $250m investment in Uber. Lyft only operates in the US, but it now has a quarter of the market there, growing its share as Uber ...

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The High Commissioner calls on the Mayor of London

LONDON:  H.E. Syed Ibne Abbas, Pakistan High Commissioner to the UK called on Mayor of London Sadiq Khan at his office, City Hall. Welcoming the High Commissioner at his office, the Mayor of London stated that the connection between London and Pakistan is as strong as ever. He said London ...

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Britain launches first phase of energy storage investment

LONDON: Business minister Greg Clark will launch the first phase of a 246 million pound investment into battery technology on Monday, part of the government’s industrial strategy to boost productivity and spread wealth in Britain. Prime Minister Theresa May published her government’s industrial strategy in January, putting forward proposals for ...

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