FACEBOOK TAKES AIM AT E-COMMERCE WITH LIBRA

Facebook has unveiled plans to launch cryptocurrency called Libra next year as part of its efforts to expand beyond social networking. However, consumer privacy concerns and regulatory barriers may present significant hurdles for the move. Facebook has linked with 28 partners to form Libra Association, a Geneva-based entity governing its new digital coin to be […]

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HUAWEI BRACES FOR DROP IN OVERSEAS SMARTPHONE SALES

Chinese tech giant Huawei is preparing for 40 to 60 per cent decline in its overseas smartphones’ sale. Huawei is facing pressure internationally after being blacklisted by the US president Donald Trump. The company is expecting a drop in volumes of anywhere between 40 million to 60 million smartphones this year. It is exploring several […]

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HUAWEI ASKS COURT TO DECLARE US DEFENCE BILL UNCONSTITUTIONAL

China’s telecom giant Huawei has asked a US court to declare Washington’s defence bill unconstitutional. President Donald Trump invoked an I-T emergency using the bill to block all Huawei sales in the US. The National Defence Authorization Act limits Huawei from selling telecom equipment in the US. Passed into law by the US Congress last […]

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RENAULT INTERESTED IN FIAT CHRYSLER MERGER OFFER

The French carmaker Renault has said it would study with interest a 50-50 merger proposal from Fiat Chrysler Renault said it would enter talks on a merger to create additional value while improving its manufacturing footprint. Investors cheered the prospect, with Renault’s shares soaring 15 percent in midday trading, and Fiat Chrysler stocks up more […]

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TEHRAN WANTS BALANCED TIES WITH GULF ARAB STATES: FM

Iran says it wants balanced relations with Gulf Arab neighbours and had proposed a non-aggression pact with them. Foreign Minister Javad Zarif also warned that any military or economic aggression would not be tolerated. During his visit to Baghdad Zarif was addressing a news conference with his Iraqi counterpart Mohammed al-Hakim. Zarif called on European […]

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US PRESIDENT TRUMP BANS CHINESE TECH GIANT HUAWEI’S EQUIPMENT

Equipment from Chinese tech giant Huawei has been banned from US telecom networks on national security grounds. The move has further intensified the trade war between the world’s two largest economies. President Donald Trump has declared a national IT emergency barring US companies from using foreign telecoms equipment. The order directs the US Commerce Department […]

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