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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.

Hong Kong shares fall to three-month low on protests

HONG KONG: Tens of thousands of pro-democracy protesters extended a blockade of Hong Kong streets on which has not only created shortage in supply but also endangered country’s economic activities. The protestors again resume control of streets near government buildings on Tuesday after the riot police shot pepper spray and tear gas at protesters at the weekend. The police are ... Read More »

Honda to relocate its Shanghai motorbike plant

TOKYO: Honda Motor Company said on Tuesday that it is investing US$117.3 million to relocate its existing motorbike plant some 40 km northwest of the current location in Shanghai to Jiangsu province. Honda spokeswoman Misato Fukushima said that the new plant is set to start production in January 2017 and would have an annual capacity of 600,000 motorbikes.   Read More »

Huawei plans to invest 1.5 billion euros in France

PARIS: China’s Huawei telecommunications giant plans to invest 1.5 billion euros in France, according to media reports. The founder of Huawei said the other day that he is seeking to invest 1.5 billion euros or US$1.9 billion in France for developing smartphones. The online edition of Les Echos business daily reported that Huwei founder Ren Zhengfei called on French Prime ... Read More »

Inflation in Eurozone falls to 5 year low

BRUSSELS: The Eurozone inflation dropped to 0.3 per cent in the current month which is the lowest level in five years, according to official figures released on Tuesday. The decrease in unemployment rate hinted that the European Central Bank may have to take steps to avert the threat of detention. Unemployment rate in Eurozone however remained constant in September as ... Read More »

Chinese refuse to buy Apple’s iPhone 6 illegally

BEIJING: Smuggling of iPhone 6 into China was on the rise when it was launched in the other countries, but now the grey market of Apple’s new device has flopped as Chinese people has rejected to buy it illegally. Smugglers, after getting pre-order phones from Hong Kong, used to sell in China $325 more than the original price. Apple’s iPhone ... Read More »

Apple accused of sealing illicit tax dealings in Ireland

BRUSSELS: The US tech giant, Apple, has been accused of illicit tax dealings and tax evasion in Ireland. The European Union (EU) is set to unveil its investigation, in which Apple enjoyed a low rate of less than 2 per cent through tax deals in Ireland and got an unfair competitive advantage. The EU launched an investigation in June into ... Read More »

India’s wrangling delaying world customs deal

GENEVA: The World Trade Organisation is still in an impasse over the new treaty on world customs pact, two month after failing to seal it. According to the officials, the main hurdle in blocking the efforts of WTO’s trade facilitation committee by the United States is continued wrangling with India. On the other side, New Delhi has already refused to ... Read More »

Asian stocks up despite Hong Kong unrest

TOKYO:  Asian shares edged Monday despite political unrest in Hong Kong. Japan’s Nikkei average increased 0.7 percent. However, some market shrugged off their Friday rally like Hong Kong shares dropped 2.3 percent to three-month lows due to political turmoil in the country. Read More »

Dollar records 2-year high against yen

NEW YORK: The dollar value against yen rose to its highest in almost two years as unrest in Hong Kong spread to its maximum level. The dollar value was strong against a basket of currencies like the yen and the New Zealand dollar. New Zealand‘s Reserve Bank data showed the central bank intervened last month to speed its currency’s descent. ... Read More »

‘Bash’ bug cannot affect Macintosh PCs: Apple

WASHINGTON: Apple has rejected ‘Bash’ bug, which is wrecking havoc in the IT world, saying that its Macintosh PCs are unlikely to be affected by this recently discovered bug. According to the US company spokesman, the majority of (Macintosh) OS X users are not at risk to ‘Bash’ vulnerabilities. He said that OS X systems were safe by default and ... Read More »

India to import onions from Pakistan, Afghanistan

NEW DELHI: India will import onion from Pakistan and Afghanistan to overcome its shortage in Delhi during the coming festival season. According to Indian government officials, the imports are being made with a view to maintaining the supply of onions in Delhi and also to curb any rise in its prices given that the requirement for the item is bound ... Read More »

China covered 12.3pc of world economy in 2013

BEIJING: Chinese economy covered about 12.3 per cent of the total global economy in 2013. As per data showed by the Chinese National Bureau of Statistics, the country’s GDP was 56.9 trillion yuan (9.32 trillion US dollars), while GDP per capita was 41,908 yuan (6,821 US dollars) during the same corresponding period. It is worth mentioning that China, the world’s ... Read More »

Pre-orders of Samsung Galaxy Note 4 started

LONDON: Network provider EE has begun accepting pre-orders for Samsung Galaxy Note 4, which is going to be launched on October 10 in the UK. Samsung’s new phone will also be a costly device as the network provider has said that those who want to buy the news Galaxy Note 4 on a £40.99 per month, they will have to ... Read More »

BlackBerry suffers £126m loss

OTTAWA: BlackBerry has suffered a £126 million loss for the second quarter as the Canadian company has just launched a new phone. BlackBerry said the company lost two cents per share on an adjusted basis on revenue of £561 million. The drop was smaller than its loss of £591 million last year. The company launched a new big-screen smartphone Passport ... Read More »

Asian markets fall as Apple’s shares slip

TOKYO:Asian markets lowered Friday as Apple’s shares slipped and downed Wall Street. Nikkei 225 index closed 0.9% lower on Friday despite the fact that it closed at a seven-year high on Thursday. Apple shares fell to 3.8% after it was forced to pull an update at its iOS8 operating system. Indonesian market fell as investors stayed away from the markets ... Read More »

Apple rejects iPhone bending claims  

NEW YORK: Apple has rejected claims that its newly-launched iPhone models – iPhone 6 and iPhone 6 Plus- are prone to bending. Earlier, several iPhone 6 owners had complained that new models of iPhone bend when put in pockets of pants or trousers.  Apple in a statement on Friday said that only iPhone 6 Plus phones had bent in the ... Read More »

Samsung speeds up fight to snatch China market from Apple

SEOUL: South Korea’s Samsung is struggling to snatch Chinese market ahead of arch-rival Apple with release date for it hotly anticipated Galaxy Note 4 big-screen smartphone. Samsung has announced that the Note 4 smartphone will be launched in South Korea and China this week, ahead of the planned worldwide debut on October 17. Samsung’s head start in the sizzling “phablet” ... Read More »

Oil prices fall to 2-year low; dollar hits to 4-year high  

NEW YORK:  The dollar marched up to a four-year high on Thursday while oil wilted near a two-year low since investors hoped that the United States would not need central bank assistance in the near future. The central bank released lending data that showed there is little in the way of demand for credit in the euro zone’s still-struggling economy ... Read More »

Chinese will soon buy iPhone 6 legally

BEIJING: Chinese consumers will soon buy their ‘dreamy’ cellular gadget, iPhone 6, legally as Apple’s latest iPhone model is in the final stages of review for approval. According to Chinese Minister for Industry and Information Technology Miao Wei, the exact time cannot be announced in review but the results are very soon. Wei said, “iPhone 6 has entered the final ... Read More »

BlackBerry to unveil cheaper smartphone

MONTREAL, Canada: BlackBerry is going to launch its latest smartphone with a square 4.5-inch screen and physical keyboard at events in Dubai, London and Toronto. Company’s Chief Executive John Chen has said that the BlackBerry Passport would be priced at $599 without a contract in the United States. The price is slightly below the contract-free price of Apple’s new iPhone ... Read More »