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Amazon workers in Germany strike over pay, Verdi union says

FILE PHOTO:'s logo is seen at Amazon Japan's office building in Tokyo, Japan, August 8, 2016. REUTERS/Kim Kyung-Hoon/File Photo

BERLIN: More than 2,000 workers at seven Amazon (AMZN.O) sites across Germany have gone on strike over pay for at least two days, labor union Verdi said on Monday. The walkouts, under the motto ‘No more discount on our incomes”, started overnight and coincide with Amazon’s Prime Day when the U.S. online retail giant offers its ‘Prime’ customers discount deals. ... Read More »

Number of illegal residents rises in Belgium, falls in other EU countries


The number of people found in Belgium without legal residence peaked in 2018, almost reaching migration-crisis figures as it dropped in other EU countries, according to new Europol data reported in local media. While the data shows that Belgium is in the top eight countries in the European Union with the highest number of people without legal residence, the figures ... Read More »

New Zealand housing market at risk of crash, Bloomberg research shows


New Zealand and Canada are the most vulnerable economies to a correction in house prices, with Australia and the UK also drawing concern, according to new research from Bloomberg Economics. Seeking to build a “housing bubble dashboard,” economist Niraj Shah studied ratios of house prices to rent and income as well as inflation-adjusted prices and household credit. The results showed ... Read More »

Brazil halves 2019 economic growth forecast to 0.8% from 1.6%

FILE PHOTO - A costumer buys meat at a supermarket in Rio de Janeiro, Brazil May 10, 2019. REUTERS/Pilar Olivares

BRASILIA: Brazil’s government slashed its economic growth forecast for this year to 0.8% from 1.6%, the Economy Ministry said blaming continued weakness in the second quarter following the economy’s contraction in the first. A challenging global outlook in the first half of the year weighed on trade and investment inflows, leading to investment projects being postponed, while uncertainty surrounding pension ... Read More »

67 bovines rescued, 6 smugglers arrested in J&K’s Rajouri


Six alleged bovine smugglers were arrested and 67 animals rescued in Jammu and Kashmir’s Rajouri district on Sunday, a police official said. Five bids to smuggle bovines from Nowshera, Budhal and Thanamandi areas of Rajouri to Kashmir Valley were foiled, the official said. During an interception in Samote area, one Mohammad Nazir was arrested and 10 bovines being smuggled to ... Read More »

Navy seizes P12-M smuggled rice off Basilan


The Naval Forces Western Mindanao (Navforwem) has intercepted a shipment of some PHP12 million worth of smuggled rice off Basilan province, a top Navy official said. Rear Adm. Erick Kagaoan, Navforwem commander, said the smuggled riced was intercepted by Naval Task Force 61 in the vicinity of Lampinigan Island, Basilan. Kagaoan said a ship belonging to Navforwem’s special operation unit ... Read More »

Thai chicken exports boosted by Chinese demand


Thai exports of fresh and processed chicken totalled 390,000 tonnes in the first five months of 2019, up 15 per cent from the same period of last year, according to the Thai Broiler Processing Exporters Association on Monday. The association’s manager, Kukrit Arepagorn, attributed the rise to growth in demand from China, which imported 25,000 tonnes of Thai chicken products ... Read More »

Rand firmer ahead of Bank’s rate decision

A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016.  REUTERS/Philimon Bulawayo

The rand was firmer against major currencies on Monday morning ahead of this week’s interest rate decision. The Reserve Bank monetary policy committee is expected to announce its decision on the interest rate on Thursday. The Bank kept the rate unchanged at 6.75% in May. A 25 basis point cut is the consensus among analysts, according to a Bloomberg poll, ... Read More »

Biotech firm Galapagos agrees $5bn research deal with Gilead


Dutch-Belgian biotech company Galapagos has agreed a $5.1bn deal with Gilead Sciences which sees the US group almost double its stake from 12.3% to 22%. The deal includes a $3.95bn upfront payment and $1.1bn equity investment and gives Gilead exclusive access to all current and future compounds produced by Galapagos. Galapagos will use the cash to expand its research activities ... Read More »

Ukraine president kicks official out of meeting over criminal record


KIEV: Ukraine’s President Volodymyr Zelenskiy had a regional official expelled from a meeting broadcast live on television on Wednesday because of a past criminal record. “Get out of here, rogue! Are you not hearing me correctly?” he told Yaroslav Hodunok, to applause from other officials present at the otherwise routine meeting. The official threatened legal action against Zelenskiy, telling a ... Read More »

Taxes weighing Greek companies down, study shows


Greek companies were the most heavily burdened by tax in the Organization for Economic Cooperation and Development (OECD) over the last decade, according to a study by the Washington-based Tax Foundation. The effective average corporate income tax rate decreased almost everywhere in Europe from 2008 to 2018, with Greece being among the few exceptions as it saw a rate increase ... Read More »

Finland Celebrates the 100th Anniversary of Constitutional Democracy


Finland was established as a constitutional democracy one hundred years ago. To celebrate this, Wednesday 17 July has been designated as a national flag day. The Parliament of Finland adopted the Constitution Act of Finland in June 1919, and it was confirmed by the Regent of Finland Carl Gustaf Emil Mannerheim on July 17, 1919. The Constitution Act, together with ... Read More »

Portugal: T-bill auction of up to €1.50M this week


Portugal returns to the markets on Wednesday to auction up to €1.5 billion in six- and 12-month treasury bills, as announced by the country’s Treasury and Debt Management Agency (IGCP). According to the entity led by Cristina Casalinho, the two auctions have a global indicative amount between €1.25 billion and €1.5 billion. In the last comparable auction, on 15 May, ... Read More »

How one Polish company is proving disability is no handicap when it comes to working


This edition of Business Planet goes to Katowice, Poland for a very special company, a social enterprise where helping people is as important as the bottom line. Today, 10% of European companies are social enterprises. They employ 11 million people and they are particularly innovative. Majka Lipiak is on a mission, to give work to those who were destined to ... Read More »

Spain: poverty hits millions despite growth


But this is a special day for them. They are here with social workers from the organisation Entre Amigos (Between Friends). They are part of the millions of Spaniards who are not reaping the benefits of the economic upturn. We travel with them to their neighbourhood in Polígono Sur, known as ‘the ’3.000 homes’, one of the poorest in Spain. ... Read More »

Hungaryʼs SignAll gets EUR 1.7 mln investment


The company tells the Budapest Business Journal that the first investment round took place some three years ago. Since then, SignAll has focused on developing the first automated translation system for ASL. The company also received numerous accolades such as the CES Accessibility Award, featuring SignAll among the five “World’s Best Vendors” in Artificial Intelligence by Gartner, and inclusion in ... Read More »

Oman’s share index closes lower marginally


Muscat: MSM30 index closed at 3,793.90 points, down 0.38 per cent. The Sharia Index also closed down by 0.44 per cent at 531.24 points. Ahli Bank Perpetual Bonds, up 2.80 per cent, was the top gainer while Muscat Finance, down 4.69 per cent was the top loser. Bank Dhofar was the most active in terms of volume as well as ... Read More »

World Bank Extends USD 11 Billion in Financial Aid to Nepal


The World Bank (WB) has lifted its hand to support Nepal again. This time, it has renewed its support to Nepal under the Second Programmatic Fiscal and Public Financial Management Development Policy Credit Project. In a move supporting Nepal’s efforts towards fiscal federalism and developing public financial management, WB offered the country a grant of NPR USD 100 million for ... Read More »

Kuwaiti stocks end longest rising run in three years


Traders taking profit from Kuwait’s longest-winning streak since at least 2016 sent the nation’s main stock index falling by the most in the Middle East. The gauge declined 0.4%, led by Kuwait Finance House and Mobile Telecommunications Co. While a favourable deposit shift for lenders in the country may boost second quarter margins from lows in the previous quarter, they ... Read More »

Iraq, Lebanon, keen to Cooperate in Banking


The Lebanese President, General Michel Aoun, welcomed the Vice President of Iraq, former Iraqi Prime Minister, Dr. Iyad Allawi, with whom he discussed the bolstering of Lebanese-Iraqi relations in all areas, especially on economic matters. Following his meeting with President Aoun, Xinhua quotes Vice President Allawi as saying: “We have discussed with Lebanese President Michel Aoun the possibility of creating ... Read More »