Business

Huawei says it plans to invest $3.1 billion in Italy

MILAN, Italy (AFP) — Chinese tech giant Huawei said Monday it plans to invest $3.1 billion (2.75 billion euros) in Italy over three years, as the firm looks to strengthen its foothold in Europe after the US labelled it a …

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Asian markets in retreat as China growth slows further

HONG KONG, China (AFP) — Asian markets slipped on Monday as data showed China’s economy growing at its weakest pace in nearly three decades, hit by the US trade war, while investors debate the depth of an expected Federal Reserve …

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Singapore economy shrinks in warning for global trade

SINGAPORE, Singapore (AFP) — Growth in export-reliant Singapore suffered a surprise sharp contraction in the second quarter, official data showed Friday, sending a stark warning that US-China trade tensions are hurting the global economy. The city-state’s gross domestic product shrank …

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Huawei planning major job cuts in US: WSJ

WASHINGTON, United States (AFP) — Chinese telecoms giant Huawei, which is subject to US sanctions over concerns about its ties to the government in Beijing, is planning to make major job cuts at its US operations, The Wall Street Journal …

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Amazon to offer job skill training to 100,000 US workers

WASHINGTON, United States (AFP) — Amazon announced plans Thursday to offer job training to around one-third of its US workforce to help them gain skills to adapt to new technologies. The US tech giant said it would spend $700 million …

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Most Asian markets in retreat as eyes turn to Federal Reserve

HONG KONG, China (AFP) — Most Asian markets extended losses Tuesday as investors re-evaluated the Federal Reserve’s interest rate options following last week’s strong US jobs report. Traders globally ran for cover after the forecast-beating payrolls figures dealt a blow …

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Oil prices tumble even as producers extend supply agreement

HONG KONG, China (AFP) — Oil prices fell sharply on Tuesday even as leading crude exporters extended a supply agreement, while global equities mostly nudged higher in the aftermath of the weekend’s US-China trade detente. Benchmark crude prices tumbled more …

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OPEC extends oil output cuts after Moscow-Riyadh pact

by Roland JACKSON / Jastinder KHERA VIENNA, Austria (AFP) — OPEC agreed Monday to extend by nine months daily oil output cuts aimed at supporting prices and soaking up excess supplies, following last weekend’s G20 pact between cartel kingpin Saudi …

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Asian markets surge on Trump-Xi breakthrough, oil rallies

HONG KONG, China (AFP) — Asian markets surged Monday after Donald Trump and Xi Jinping agreed to restart trade talks, reviving hopes of an end to their tariffs war, while oil prices also rallied on news that Saudi Arabia and …

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Japan restricts some exports of chip, smartphone materials to South Korea

TOKYO, Japan (AFP) — Japan announced Monday it would tighten regulations on the export to South Korea of several chemicals used in chip and smartphone production amid a row with Seoul on wartime forced labour. The new rules, which take …

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Asian markets retreat as crunch G20 kicks off

HONG KONG, China (AFP) — Asian markets fell on Friday as investors keep a nervous watch on developments in the G20 summit, with trade top of the agenda and a key focus on the much-anticipated meeting between Donald Trump and …

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OPEC faces output balancing act over US-Iran crisis

by Roland JACKSON LONDON, United States (AFP ) — OPEC is on red alert over escalating US-Iran tensions that fuelled strong oil-price gains — but the cartel and other crude-producing nations are unlikely to end output cuts at a meeting …

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