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Italy takes a shine to China’s New Silk Road


China’s president lands in Rome on Thursday, where he is expected to sign a landmark infrastructure deal that has raised eyebrows and suspicions among Italy’s Western allies. Xi Jinping’s project is a New Silk Road which, just like the ancient trade route, aims to link China to Europe. The upside for Italy is a potential flood of investment and greater ... Read More »

Vietnam police seize 300kg of meth in mansion bust


HANOI: Vietnam police busted a massive meth ring in a Ho Chi Minh City mansion allegedly run by a Chinese national who used a textile company as a cover for the operation, police and state media reported on Thursday (March 21). Police on Wednesday stormed the luxury property in Vietnam’s largest city, guarded with private security and outfitted with cameras, ... Read More »

‘Corruption in Ukraine has to be stopped’


The port of Mariupol in eastern Ukraine has become a symbol in recent months of the country’s economic struggles. A recent partial blockade by Russian naval vessels of the nearby Kerch Strait means that fewer ships are now docking at the harbour. The port has lost 33% of its fleet and up to 140,000 tonnes of exported metal products a ... Read More »

“Food Expo” Exhibition Showcases Greek Gastronomy

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The food and beverages exhibition “Food Expo 2019” – the largest of its kind in Southeastern Europe – opened its doors to visitors at the Metropolitan Expo Center near Athens. Featuring 1,300 Greek and international exhibitors, 50,000m2 of exhibition space and approximately 5,000 key international food traders, the Food Expo is a huge event for organized retail, wholesale as well ... Read More »

Norway’s US$1 trillion fund scales back appetite for real estate deals

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AFTER a decade snapping up US$25 billion of some of the world’s toniest properties in London, New York, Paris and other global cities, Norway’s US$1 trillion wealth fund is scaling back its appetite for real estate deals. The fund will instead focus more on investing in listed real estate companies, as a way of cutting costs and simplifying its approach ... Read More »

Foreign Exchange Reserves Indonesia Rise to US 123.3 Billion in Feb 2019


The increase in Indonesia’s foreign exchange reserves last month was mainly caused by the central government’s global sukuk issuance (Islamic debt paper), oil & gas exchange receipts, and other foreign exchange receipts. The current level of foreign reserve assets (USD $123.3 billion) is equivalent to the financing of 6.9 months of imports or 6.7 months of imports and payment of ... Read More »

Huawei edged out in favour of Ericsson for Danish 5G network


The decision regarding which company will be responsible for building Denmark’s next generation of communications networks has now been taken. Two companies were in the running – China’s Huawei and Sweden’s Ericsson – and the contract has been awarded to the latter. The 5G network will replace the present country-wide 4G network and promises much faster communication. In the spotlight ... Read More »

Germany’s SPD wants to extend arms export halt to Saudi

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BERLIN: Germany’s Social Democrats (SPD) want to extend a freeze on arms exports to Saudi Arabia imposed after the killing of Saudi journalist Jamal Khashoggi, party sources said, setting the stage for a row with their conservative coalition partners. Under pressure from European allies, many of Chancellor Angela Merkel’s conservatives want to end the ban to avoid hurting Germany’s commercial ... Read More »

Pigeon fetches record €1.25 million at Belgian auction


Two Chinese fanciers battled it out in an online auction to buy the star racer, smashing the previous record of €376,000 ($425,000). New interest from Asian markets in recent years has given the flagging practice a lift. Belgium’s best long-distance racing pigeon, Armando, was the subject of a bidding war between two anonymous Chinese buyers, putting enthusiasts into a spin. ... Read More »

NZ shares rise on Fed restraint, local GDP growth


New Zealand shares rose after the US Federal Reserve signalled no rate rises there this year and local GDP data came in stronger than many economists had expected. Auckland International Airport extended its decline from a record, while also shedding rights to its interim dividend. The S&P/NZX 50 Index rose 25.61 points, or 0.3 per cent, to 9,461.31. Within the ... Read More »

GM Announces Billion-Dollar Investments in São Paulo State


RIO DE JANEIRO, BRAZIL: Giant automaker General Motors announced on Tuesday it will invest R$10 billion in two plants in São Paulo state, after state governor, João Doria, announced tax incentives to be given by the state government to automakers that expand business in São Paulo. “Last year we had a very serious problem, which was our factories in the ... Read More »

Google fined $1.7 billion for blocking rival online search advertisers, in third EU sanction


Google was fined €1.49 billion ($1.7 billion) for blocking rival online search advertisers, in the third large European Union antitrust penalty for the Alphabet business in two only years. The European Commission, which said the fine accounted for 1.29 percent of Google’s turnover in 2018, said in a statement that the anti-competitive practices had lasted a decade. “Google has cemented ... Read More »

Korean semiconductor stocks surge on the back of Micron earnings


Semiconductor stocks in South Korea soared on Thursday following the earnings release of U.S. chipmaker Micron Technology overnight, which bested expectations. Industry heavyweight Samsung Electronics and chipmaker SK Hynix saw their stock surge 4.09 percent and 7.66 percent, respectively. Beating on the top and bottom line, Micron reported earnings per share of $1.71 on revenue of $5.84 billion. Wall Street ... Read More »

Human embryo smuggling: Malaysian arrested at India airport


Indian authorities are investigating a possible smuggling ring after discovering a live human embryo in a suitcase at Mumbai’s airport. A Malaysian national was allegedly found with the embryo in a canister concealed in his luggage. The man, who reportedly admitted this was not the first time he had smuggled embryos into India, then led officials to a high-end IVF ... Read More »

Disney closes $71B deal for Fox entertainment assets


Disney has closed its $71 billion acquisition of Fox’s entertainment business, putting “Cinderella,” ”The Simpsons,” ”Star Wars” and “Dr. Strange” under one corporate roof. The deal is likely to shake up the media landscape. Among other things, it paves the way for Disney to launch its streaming service, Disney Plus, due out later this year. It will also likely lead ... Read More »

Feb exports unexpectedly rise 5.91% year-on-year


Customs-cleared exports unexpectedly rose in February, after contracting for three consecutive months, due to one-time shipment of arms and weapons, the Commerce Ministry said on Thursday. Exports in February rose 5.91% from a year earlier, compared with a Reuters poll prediction of a 1% drop in shipments, a key driver of Thai growth. In January, shipments contracted 5.65% from a ... Read More »

45% of South Africans are ready to go cashless


CAPE TOWN – A recent study suggests cash costs South Africans around R23-billion annually. In a world where the trend is increasingly to go cashless, with countries like India already having fully cashless villages, how does South Africa fair? A Twitter poll found that 35 percent of South Africans could picture themselves transacting purely digitally, while a further 10 percent ... Read More »

Drug criminal, daughter hurt in attempted assassination in amstelveen

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A 55-year-old man and his 17-year-old daughter were injured in a shooting in Amstelveen afternoon. The injured man has a criminal record and is suspected of cocaine trafficking and money laundering, according to broadcaster NOS. The shooting happened at around 12:00 p.m. on Grote Wielen in Westwijk. The two victims were taken to hospital. Both were conscious and able to ... Read More »

S&P affirms Finland’s AA+ rating


Rating S&P Global Ratings has maintained Finland’s ‘AA+’ rating, said S&P Global Ratings in a bulletin of its latest rating. The rating agency affirmed its ‘AA+/A-1+’ long- and short-term foreign and local currency sovereign credit ratings on Finland at the end of the week. According to S&P Global Ratings, the outlook remains stable. In its outlook, S&P Global Ratings pointed ... Read More »

400 7-Elevens in Taiwan stop running 24 hours

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TAIPEI (Taiwan News) — Huang Jui-tien (黃瑞典), the general manager of the operator of 7-Eleven Taiwan, President Chain Store Corp. (統一超, PCSC), announced on Tuesday (March 19) that 400 of Taiwan 7-Eleven stores no longer operate for 24 hours a day. After news broke that 7-Eleven is considering ending the practice of keeping its stores in Japan open 24 hours, ... Read More »