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World Business

A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers.

Galaxy Note9 now available for pre-order in Sri Lanka

Colombo:Samsung today opened pre-bookings for its flagship Galaxy Note9 smartphone in Sri Lanka. The latest addition to its premium Note series was launched globally in New York on August 09. The pre-book offer in Sri Lanka comes with an exciting deal, along with being one of the first to own the Note9, those who pre-book the Galaxy Note9 will receive ... Read More »

$8b bilateral trade signifies close relationship between Pak-UAE

ISLAMABAD: Deputy Chairman Senate Senator Saleem Mandviwalla in a meeting with Ambassador of United Arab Emirates, Hammad Obaid Ibrahim Al Zaabi has said that a high trade volume of 8 billion dollars between Pakistan and UAE not only signifies the close relationship between the two countries but also calls for exploring this trade potential even more. The Ambassador called on ... Read More »

Turkish economy’s financial assets over $3T in Q1

ANKARA:The Turkish economy’s total financial assets amounted to 11.85 trillion Turkish liras (around $3.1 trillion) as of the first quarter of this year, the Central Bank of Republic of Turkey (CBRT) announced on Tuesday. According to the bank’s Financial Accounts Report, the economy’s liabilities totaled 13.57 trillion Turkish liras (some $3.55 trillion) in the January-March period. As a result, the ... Read More »

Companies in Brexit ‘supply shock’ as fewer EU citizens come to UK

UK:Companies are suffering from a “supply shock” as fewer EU citizens come to the UK, and companies struggle to fill vacancies, according to a survey of 2,000 employers. The Chartered Institute of Personnel and Development (CIPD) said the number of applicants per vacancy had fallen since last summer across all levels of skilled jobs, and said shortages were forcing many ... Read More »

Indonesia, Australia’s central banks extend currency swap agreement

Australia:The central banks of Indonesia and Australia have agreed to extend the Bilateral local Currency Swap Arrangement (BCSA), as the existing agreement that has been in place for three years will expire in December. Bank Indonesia (BI) international director Erwin Haryono said in Jakarta on Thursday that the extension of the agreement was needed by Indonesia and also Australia to ... Read More »

Officials Considering a ‘Mobile Passport’ for Traveling Canadians

Canada:According to a new report from Global News, new public opinion research published by Immigration, Refugees and Citizenship Canada suggests the officials are currently considering whether Canadian citizens should have the ability to renew their passports via a mobile app. Through research gathered during 15 separate focus groups held throughout the country earlier this year, Canadian participants were asked what ... Read More »

HSBC pre-tax profit up 4.58% at $10.7B in first half

Hong Kong:Banking giant HSBC said on Monday that pre-tax profit rose 4.58 percent to $10.7 billion in the first six months of the year and voiced “cautious optimism” despite the China-US trade row. After wide-ranging cutbacks that saw 50,000 jobs axed in an overhaul announced in 2015, the bank said it was now hiring “more frontline staff” in its strongest ... Read More »

Samsung to invest 160b USD, hire 40,000 for next 3 years

UK:Samsung Group, South Korea’s biggest family-controlled conglomerate, said Wednesday that it will invest 180 trillion won (about 160 billion U.S. dollars) and hire 40,000 more employees for the next three years. Samsung made the announcement to help revitalize the South Korean economy and foster new growth engines. The government under South Korean President Moon Jae-in placed its top priority on ... Read More »

US may raise tariffs on $200B in Chinese goods to 25%: officials

Washington:The United States may jack up the tariff rate on $200 billion in Chinese imports as it attempts to pressure Beijing to reform its trade practices, US officials said Wednesday. President Donald Trump asked the US Trade Representative consider increasing the proposed tariffs to 25 percent from the announced 10 percent, senior administration officials said, confirming earlier media reports. The ... Read More »

Apple quarterly profit leaps, nears $1 trillion value

France:Apple said Tuesday that its profit had jumped more than 30 percent to $11.5 billion in the recently ended quarter, besting market expectations despite selling fewer iPhones than analysts projected. The news boosted shares in the tech giant in after-hours trading, putting it ever closer to a history-making, trillion-dollar market value, even as China’s Huawei knocked Apple off second spot ... Read More »

Trump’s trade war just sank a $2 billion investment for a top Russian steelmaker

US:one of Russia’s largest steel producers, has postponed the launch of a lucrative project in Turkey due to uncertainty created by global trade wars, Andrey Eremin, the company’s director for economics, told Reuters in an interview. The project – the re-launch of hot-rolled steel production at its Turkish site – was expected to add between $90 million and $100 million ... Read More »

US government offers $12B in aid to farmers hit by trade war that trump started

WASHINGTON:The US government has announced $12 billion in aid to farmers hit by trade war between America and the world’s leading economies that President Trump began by imposing tariffs on imports from countries like China, the EU, Canada and Mexico. These countries have retaliated by imposing tariffs on American goods including US grains, produce and meat that have hit hard ... Read More »

Amazon delivers record quarterly profit

Amazon has reported record quarterly profits helped by a rise in online sales and demand for its cloud services. Profits hit a record $2.53bn (£1.9bn) in the three months to the end of June – about 12 times more than it made during the same period last year. Sales rose by 39% to $52.89bn, slightly less than analysts had been ... Read More »

Hong Kong brands show continuous improvement in business sustainability

Hong Kong:Leading companies in Hong Kong have shown increasing concerns for corporate social responsibility (CSR) and business sustainability, according to a latest research conducted by the Chinese University of Hong Kong (CUHK). CUHK Business School’s Centre for Business Sustainability (CBS) has announced the results of the 3rd Hong Kong Business Sustainability Index (HKBSI). Compared to the results of the 2nd ... Read More »

Bringing Sri Lanka’s traders one step closer to global market

Sri Lanka’s traditional lacework famously known as Beeralu is slowly moving into the spotlight of the global fashion industry. Udeni, who is a traditional Beeralu lace maker from Galle, learned the technique from her mother and developed it into a part-time business. At the moment, she sells to buyers from Colombo who then sell her product internationally. She would like ... Read More »

Dubai eyes stronger business, investment ties with Egypt

Dubai : Dubai has moved to further strengthen the emirate’s business and investment ties with Egypt, following meetings with a high-level Egyptian delegation. During the discussions held in Dubai, Dubai FDI and Egyptian delegates from the General Authority for Investment and Free Zones appraised the many foreign investments coming into the city as a result of the government’s intensive efforts ... Read More »

Trump ups ante ahead of G20 discussions on global trade tensions

Buenos Aires :US President Donald Trump’s latest attacks on China and the European Union will shape the discourse on global trade conflicts and competitive devaluation as Group of 20 finance ministers meet in Buenos Aires this weekend. Trump’s protectionist policies that have seen him slap steep tariffs on steel and aluminum, angering allies such as the EU, Canada and Mexico, ... Read More »

Apple Watch, FitBit could feel cost of US tariffs

Australia : The latest round of US tariffs on $200 billion of Chinese goods could hit the Apple Watch, health trackers, streaming music speakers and other accessories assembled in China, government rulings on tariffs show. The rulings name Apple Inc’s watch, several Fitbit Inc. activity trackers and connected speakers from Sonos Inc. While consumer technology’s biggest sellers such as mobile ... Read More »

Brexit’s final form increasingly important for Australia

Australia : International economists and market traders are becoming increasingly uneasy with the way global trade is heading. A trade war between the world’s two largest economies is clearly escalating. Meanwhile, Britain’s Prime Minister Theresa May is negotiating an extraordinary political labyrinth in what’s being seen as a vain attempt to produce a soft exit from the European Union. As ... Read More »

Iran’s imports from Russia doubled in Q1

TEHRAN: Latest statistics show that Iran’s imports and exports from/to Russia experienced a considerable 205 and 40 percent growth in the first three months of the current Iranian fiscal year (March 21-June 21). According to the Islamic Republic of Iran Customs Administration (IRICA), Russia took the 8th and 18th ranks in terms of imports and exports respectively among 100 countries ... Read More »