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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.

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 »

Brent crude oil falls as US hits Syria

LONDON: Brent crude has inched lower and reached $97 a barrel as the United States and its allies in Middle East launched strikes against so-called Islamic State strongholds in Syria. Meanwhile, US crude rose 31 cents to $91.18 a barrel, rebounding from a session low of $90.58 that was its weakest since Sept. 11. Oil prices fell to a two-year ... Read More »

Copper market in balance after three-month lows

LONDON: Manufacturing data from top consumer China has helped copper prices steady after touching three-month lows. China’s manufacturing sector picked up some momentum in September even as factory employment slumped to a 5-1/2-year low, reassuring investors who had expected weaker numbers from the world’s second-largest economy. According to analysts, the global copper market is expected to be in a surplus ... Read More »

Over 10 million iPhones sold in 3 days: Apple

London: Apple Inc Chief Executive Tim Cook has disclosed that the company has sold over 10 million iPhones in the first three days of its newly-launched models . In a statement on Tuesday , Chief Executive Tim Cook said the company launched its new model on last Friday and it could sold more new models of iPhone 6 and iPhone ... Read More »

Microsoft to launch new Office software for students

NEW YORK: Microsoft has announced that it will launch a new version of its Office 365 productivity software which will be free for students so that they can equip themselves with latest technologies. Microsoft  also announced a free terabyte of storage on Microsoft’s One Drive cloud service. The officials of Microsoft Tuesday said purpose of launching new software is to ... Read More »

Oil prices fall below $98

SINGAPORE: Ahead of Chinese manufacturing data to be released on Tuesday ,oil prices lowered in Asia on Monday. Brent crude for November fell 48 cents to $97.91. At the same time, US benchmark West Texas Intermediate for October delivery lowered 40 cents to $92.01 . Market analyst Desmond Chua at CMC Markets in Singapore said that Oil price fell due ... Read More »

Asian markets lower on profit-taking  

HONG KONG: Despite big gains at the end of last week, Asian markets lowered on Monday as their profits slightly slipped. Tokyo market shed 0.71 per cent, or 115.27 points to 16,205.90. Sydney market dropped 1.29 per cent, or 70.1 points, to 5,363.0 while Seoul shed 0.71 per cent, or 14.55 points, to 2,039.27. Shanghai lost 1.70 per cent, or ... Read More »

G20 for stimulus package to boost global growth

CAIRNS: The G20 group of world’s wealthy states is near to approving a package of initiatives to boost global growth. Finance ministers of 20 countries and central bank chiefs have been meeting in the Australian city of Cairns. In February they pledged to come up with measures that would boost global growth by 2% by 2018. So far they have ... Read More »

GlaxoSmithKline fined $490m by China for bribery

BEIJING: China has fined UK pharmaceuticals firm GlaxoSmithKline $490m after a court found it guilty of bribery. The record penalty follows allegations the drug giant paid out bribes to doctors and hospitals in order to have their products promoted. The court gave GSK’s former head of Chinese operations, Mark Reilly, a suspended three-year prison sentence and he is set to ... Read More »

Oil prices steady at end of volatile week

NEW YORK: World oil prices have steadied after Brent crude had this week hit a two-year low point against a backdrop of solid supplies and dampening demand growth. Brent North Sea crude for delivery in November edged up six cents to stand at US$97.76 a barrel around midday in London. US benchmark West Texas Intermediate for October eased 22 cents ... Read More »

Alibaba shares skyrocket past IPO price

NEW YORK: Alibaba has debuted as a publicly traded company and swiftly climbed more than 40% in a mammoth IPO that offered eager investors seemingly unlimited potential for growth and a way to tap into the burgeoning Chinese middle class. The sharp demand for shares sent the market value of the e-commerce giant soaring well beyond that of Amazon, eBay ... Read More »

Pound surges on Scottish ‘No’ vote

LONDON: The pound has hit a two-year high against the euro and a two-week high against the US dollar, as Scotland voted against independence. In early Asian trade, sterling jumped 0.43% to 1.2743 euros. The pound also jumped nearly 0.8% to $1.6525 against the US dollar, before falling back slightly. The FTSE is also expected to open higher. Meanwhile, RBS ... Read More »

Oracle’s boss Larry Ellison steps down

CALIFORNIA: Oracle boss Larry Ellison is stepping aside as chief executive after 37 years at the helm of the software giant. Mr Ellison, estimated to be the world’s fifth wealthiest man, becomes chairman and chief technology officer, remaining an influential presence at the company. Mark Hurd and Safra Catz have been named as successors, and become co-chief executives. Mr Ellison, ... Read More »

Orders for Samsung Galaxy Note 4 phone begin

NEW YORK: Samsung says US wireless carriers will start taking orders for its large-screen Galaxy Note 4 smartphone on the same day larger iPhones go on sale. The Note 4 will be available on Oct 17, but the orders will be taken beginning Friday. It has a screen measuring 5.7 inches diagonally, slightly larger than the 5.5 inches on Apple’s ... Read More »