Tag: Business
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BOJ to raise rates again by December as weak yen revives inflation risks: Reuters poll
TOKYO, July 23 : The Bank of Japan will raise its interest rate again by end-December and possibly as soon as October, according to a majority of economists in a Reuters poll, keeping further rate rises in view through next year.That outlook underscores the bind Japan’s central bank is in: if it keeps rates l
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Electrified cars drive Europe auto sales growth as Chinese brands gain ground
July 23 : Demand for electrified cars continued to underpin growth in Europe’s auto market in June, offsetting a sharp decline in petrol and diesel sales, data from the European Automobile Manufacturers’ Association (ACEA) showed on Thursday.Growth in car registrations, a proxy for sales, also helped Chines
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Malaysia, Hong Kong securities regulators agree to ease dual IPO listings, strengthen collaboration
KUALA LUMPUR, July 23 : Malaysian and Hong Kong securities regulators signed a memorandum of understanding on Thursday aimed at facilitating dual initial public offering (IPO) listings in both countries, as well as collaborating on the mutual recognition and cross listing of covered funds. The deal, which wo
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AI will not trigger employment collapse, staffing company Adecco Group says
ZURICH, July 23 : AI will not trigger a collapse in employment despite concerns the technology will displace large numbers of workers, a study by staffing company Adecco Group showed on Thursday .Employers have cited AI as responsible for nearly a quarter of job cuts in the United States this year, global out
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US Senate panel approves Bill cracking down on the sale of Chinese vehicles
The US Senate Commerce Committee approved legislation on Wednesday (Jul 22) to toughen a government ban on Chinese automakers entering the American market that could bar German automaker Mercedes-Benz from selling vehicles in the United States.Senator Ted Cruz, the committee chair and a Texas Republican,
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South Korea’s Q2 GDP beats estimates on chip export boom
SEOUL, July 23 : South Korea’s economy grew faster than expectations in the second quarter, driven by a semiconductor export boom that offset a decline in construction investment, advance estimates from the Bank of Korea showed on Thursday. Gross domestic product expanded 0.6 per cent in the April-June period
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Oil prices rise to six-week high as US-Iran tensions escalate
Oil prices rose more than 1.5 per cent to their highest in more than six weeks on Thursday (Jul 23), with the United States launching a new round of strikes on Iran and Yemen’s Houthis targeting oil tankers in the Red Sea. Brent crude futures rose US$1.93, or 2 per cent, to US$96 by 12.11am…
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US-Iran tensions underpin dollar as yen nears 40-year low
TOKYO, July 23 : The dollar largely stabilised on Thursday as renewed U.S.-Iran tensions kept investors on edge and underpinned demand for the safe-haven currency, while the yen languished near a 40-year low with little sign of a turnaround.The dollar index, which measures the greenback against a basket of cu
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Pichai pushes back on claims Google is losing ground in AI race
July 22 : Alphabet CEO Sundar Pichai used Wednesday’s earnings call to mount a robust defence of Google’s AI strategy, pushing back on concerns that the company has fallen behind rivals after delaying a flagship model and ceding ground in AI coding.Investors have become increasingly uneasy over Google delayin
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