Tag: Business
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Oil falls to lowest since start of Iran war after ceasefire deal signed
LONDON, June 18 : Oil prices fell 2 per cent on Thursday to their lowest since the first trading day of the Iran war, as a U.S.-Iran interim deal to end the war, reopen the Strait of Hormuz and ease sanctions on Tehran boosted the global supply outlook. Brent crude futures were down $1.59, or…
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Dollar hovers near two-month high on Fed hike bets; Japan warns on yen
HONG KONG, June 18 : The U.S. dollar hovered close to a two-month high on Thursday after a hawkish hold from the Federal Reserve triggered bets on rate hikes, while yen weakness drew verbal warnings from Japanese officials.The U.S. central bank held rates steady in a 3.50 per cent to 3.75 per cent range as…
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Stocks slip as Fed rate outlook offsets optimism over Iran deal
LONDON, June 18 : Global stocks were torn on Thursday between concern about the rising chances of a U.S. rate hike this year after the Federal Reserve’s meeting and optimism over the reopening of the Strait of Hormuz.The United States and Iran on Wednesday released the text of their agreement, which extends a
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Philippine central bank raises policy rate by 25 basis points
MANILA, June 18 : The Philippine central bank raised its key interest rate by 25 basis points for a second time in a row on Thursday and left the door open to additional tightening as inflation pressures remain strong.Governor Eli Remolona said the central bank would consider larger rate increases, including
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South Korea to keep fuel price ceilings as US-Iran deal impact assessed, media reports
SEOUL, June 18 : South Korea will keep its current fuel price ceilings in place until there is more clarity on a U.S.-Iran agreement and its impact on global oil markets, local media reported on Thursday.Yang Gi-wook, a senior industry ministry official, told a briefing that the government would decide on the
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Japan bank lobby warns of potential service disruptions due to AI-enabled cyberattacks
TOKYO, June 18 : Japanese lenders may be forced to suspend services such as ATMs and online banking if sophisticated AI models end up posing a serious threat to the banking system, said the chair of the country’s banking lobby.Frontier AI systems, such as Anthropic’s Mythos, can quickly identify vulnerabiliti
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How India sparred with Telegram days ahead of blocking the app
NEW DELHI, June 18 : India privately rebuked Telegram for not proactively removing accounts offering purported leaked exam papers while the company accused New Delhi of misrepresenting meeting records, an impasse that led to an unprecedented ban of the app, documents show. Telegram has challenged the ban
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Indonesia’s energy minister says government working to secure coal supply for state utility
JAKARTA, June 18 : Indonesia’s Energy and Mineral Resources Minister said on Thursday that the government is working to ensure that coal supplies to state power utility Perusahaan Listrik Negara (PLN) remain stable after reports of blackouts.Here are some details:• Energy minister Bahlil Lahadalia to
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Philippine central bank raises policy rate by 25 basis points, as expected
MANILA, June 18 : The Philippine central bank raised its key interest rate by 25 basis points to 4.75 per cent on Thursday, it said in a statement.Twenty of 25 economists in a Reuters poll expected the Bangko Sentral ng Pilipinas to hike its overnight borrowing rate by 25 basis points. Five others projected a
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EQT buys Berlin-based SpaceX satellite launch partner Exolaunch
LONDON, June 18 : Private equity fund EQT is acquiring Berlin-based space company Exolaunch, which helps satellite companies launch into orbit by partnering with rocket operators such as Elon Musk’s SpaceX.The deal, announced by the companies Thursday, highlights strong investor interest in the space industry
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