Business

Marks & Spencer loses Saudi Arabian franchise partnership

Saudi Arabian retailer Fawaz Abdulaziz Alhokair Co. has pulled out of its franchise partnership with British store group Marks & Spencer and has ended similar agreements with a number of…

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Europe might get into recession – Renowned economist warns Britain, Italy and Germany are ‘paralysed’ by domestic issues

Europe has a 70% chance of plunging into recession, according to renowned economist and bond market expert Mohamed El-Erian, with Britain, Italy and Germany “paralysed” by domestic issues that have…

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Midday Dispatch – Corporate and Financial News

Swiss watch exports to their top market Hong Kong fell a modest 1.3% in July amid increasingly violent anti-government protests in the former British colony that have weighed on watch…

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Microsoft’s AI team engages Former Apple SIRI chief

Bill Stasior, the former head of Apple’s Siri division, is leaving the company after nearly 1a decade to join Microsoft’s artificial intelligence division, reports The Information. Although Stasior left Apple…

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French tourists risking jail for sand theft from beach in Sardinia

A French couple who were caught with 40kg of Sardinian sand in their car could face up to six years in jail. They say they wanted to take the sand…

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Legal action by Ryanair to prevent Irish pilots’ strike

On Monday the High Court in Dublin will hear an application by Ryanair aimed at securing an order preventing industrial action by some of its Irish based pilots later this…

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Microsoft, Nvidia team up for more realistic visuals on Minecraft game

Microsoft Corp said on Monday it will use chip-maker Nvidia Corp’s real-time ray tracing technology to provide the software company’s Minecraft video game players more realistic graphics on personal computers.…

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Ten European cities seek EU help in battle between tourists’ impact on short-stay lettings and residents needs

Ten European cities have demanded more help from the EU in their battle against Airbnb and other holiday rental websites, which they argue are locking locals out of housing and…

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Photo Story: Ferry boat runs aground in Denia, Spain

The Balearia company's ferry, Pinar Del Rio, in Denia, Alicante, Spain 17 August 2019 after it ran aground on the breakwater of the port in Denia. A total of 393…

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Germany ready to ditch balanced budget in case of recession

Germany’s coalition government would be prepared to ditch its balanced budget rule and take on new debt to counter a possible recession, according to a report in Der Spiegel magazine.…

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Malta : Bond Issuer Rankings – Edward Rizzo

All bond issuers on the Regulated Main Market and the companies that act as guarantors to several of the issuers have now published their annual financial statements and also their…

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Photo Story: Japan’s retired Air Force One is up for sale

Japan's Air Force One taxies as they arrive at Helsinki-Vantaa Airport in Helsinki, Finland, on the 9 July 2017. According to media reports, Japan has retired its version of Air…

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Crew from German and Greek ships kidnapped by pirates off Cameroon

Pirates have kidnapped eight crew members of a German-owned ship, the MarMalaita, in a raid on the vessel off Douala, off the coast of Cameroon as well from a Greek…

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IoScoot celebrates a year of growth

IoScoot is celebrating its first anniversary. It’s been one year since the electric motorbike-sharing service was launched in Malta in 2018, introducing an innovative mobility solution to the Maltese islands.…

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Computer outage causes delays at several US airports

Travellers have been delayed at several major US airports due to a technical issue affecting customs checks. US authorities said computers are coming slowly back online after a nationwide outage…

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Cathay Pacific CEO resigns

The chief executive of Cathay Pacific, Rupert Hogg, has resigned in the wake of the protests in Hong Kong. Paul Loo is also leaving as chief customer and commercial officer.…

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Brazil threatens Mercosur exit

Brazil's economy minister has said the country could leave the Mercosur trade bloc if Argentina's opposition wins presidential elections later this year. He also questioned how dependent Brazil's economy was…

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German police smash child pornography ring on darknet

German cybercrime experts brought down a child pornography platform on the darknet following months of intensive investigation, authorities in the German state of the Mecklenburg-Western Pomerania announced. German police were first…

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Ryanair cabin crew in Spain threaten 10 days of strikes in September

Unions representing Ryanair cabin crew in Spain have announced plans to hold 10 days of strikes in September unless the airline changes its plans to close several bases in the…

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Flights at Shannon airport suspended after emergency incident

Operations at Shannon Airport in the Republic of Ireland have been temporary suspended after an "incident" involving a Boeing plane. The airport said emergency services are at the scene and…

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Russian passenger jet performs emergency landing near Moscow

A Russian passenger plane from Ural Airlines’ performed an emergency landing near Moscow shortly after take-off on Thursday after birds were sucked into its engines. There were no casualties reported…

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Ryanair’s Irish pilots to proceed with strike

Directly employed Ryanair pilots based in Ireland, who are members of the Irish Air Line Pilots' Association (IALPA), are to strike for 48 hours from midnight on 22 August. The move comes after…

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Lisbon Airport operations restricted due to fuel strike

Portugal’s Airport Authority (ANA)has complained that the pace of resupplying Lisbon Airport with fuel is "insufficient and is at levels well below those stipulated for minimum services," causing "operating restrictions.…

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Barclays no longer banking cryptocurrency exchange Coinbase

Barclays is no longer providing banking services to cryptocurrency exchange Coinbase, sources familiar with the matter told Reuters, ending a relationship that started in March last year as the exchange…

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Facebook workers listened to Messenger conversations

Bloomberg reports that Facebook contractors were listening to and transcribing select voice conversations that were held using its Facebook Messenger chat platform. The company reportedly had the contractors transcribe chats…

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Midday Dispatch – Corporate and Financial News

Fears over a global economic downturn were intensified by disappointing data from China and Germany, sending bond yields tumbling to new lows and weighing on jittery stock markets. - Financial…

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Germany releases gross domestic product quarterly results for 2019

Germany's Federal Statistical Office (Statistisches Bundesamt) announced on 14 August 2019 that the country's gross domestic product (GDP) grew by 0.4 percent in the first quarter of 2019, shrinking by…

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Some MacBook Pros banned from US flights

Some MacBook Pro laptops are being banned on flights in the United States amid Apple's recent statements saying that batteries in several units pose fire risks. The US Federal Aviation…

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Talks to avert Ryanair’s Irish pilots strike

Ryanair’s directly employed pilots in Ireland agreed to attend mediated talks starting on Wednesday to avert a strike their trade union said would go ahead next week if the airline…

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Foreign power was behind cyber-attack on Czech Foreign ministry

A foreign state staged the latest cyber-attack targeting the Czech Foreign Ministry, the Senate’s security committee said on Tuesday, though it did not identify the nation concerned or provide any…

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Hong Kong airport reopens after another chaotic night

Hong Kong airport reopened on Wednesday after fierce clashes overnight, but the turmoil may be far from over following reports that aviation authorities have obtained a court order to remove…

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Midday Dispatch – Corporate and Financial News

Argentina's peso lost 14 percent of its value against the dollar when exchange markets opened on Monday after President Mauricio Macri suffered a crushing defeat in party primaries over the…

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Thousands of jobs shed as global pressures on banking sector starts to leave its marks

Global investment banks are shedding tens of thousands of jobs as falling interest rates, weak trading volumes and the march of automation create a brutal summer for the sector. The…

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Midday Dispatch – Corporate and Financial News

Good day, These are some of the main stories from the local and global corporate and financial world as reported by leading agencies and media. The mood across global markets…

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Hong Kong Airport cancels flights as thousands occupy terminal

Hong Kong International Airport has cancelled departing flights, as anti-government protests in its main terminal continue for a fourth day. Thousands are gathered at the airport - which is one…

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Jio and Microsoft announce alliance to accelerate digital transformation in India

Reliance Jio Infocomm Limited (Jio), a subsidiary of Reliance Industries Limited, and Microsoft Corp. are embarking on a unique, comprehensive, long-term strategic relationship aimed at accelerating the digital transformation of…

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2019 a difficult year for tourism in Cyprus

Deputy Minister for Tourism Savvas Perdios said that 2019 is a difficult year for tourism, but stressed that there is no need for panic, pointing out that positive developments…

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Investigation opened after pieces of a Norwegian Boeing 787 fell near Fiumicino airport

An investigation is being held by Italy's flight safety agency (ENAC) into an incident over the weekend in which fragments of a Norwegian airlines Boeing 787 damaged cars and roofs…

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Oil prices fall amid worries about an economic slowdown

Oil prices dipped on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for oil demand. International…

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Photo Story: Security control strike at Barcelona’s airport

Passengers in transit at El Prat airport in Barcelona, Spain, 11 August 2019, on the third day of an indefinite strike of workers of Trablisa, the control security check…

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Hundreds evacuated as fire rages on holiday island of Gran Canaria

Hundreds of people have been forced to flee a huge mountain fire on the Spanish holiday island of Gran Canaria. The Spanish military has now been sent to help firefighters…

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Gambling site Bwin fined €350,000 by Dutch regulators

The Dutch gambling authority Ksa imposed a fine of 350 thousand euros on the company behind gambling site Bwin.com, because the site offered gambling services and sports betting to Dutch…

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Portugal’s fuel-tanker drivers to strike

Portugal's fuel-tanker drivers voted to strike from Monday for an indefinite period, raising fears about the impact on the country's tourism-dependent economy during the busy summer season. The vote means…

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Sand stolen by tourists visiting Sardinia returned to beaches, fines of between €500 to €3,000 for culprits

Italian authorities and environmental experts have teamed up with Olbia Airport in Sardinia to return sand, pebbles and shells confiscated from tourists’ luggage to beaches on Sardinia's famed 'Emerald Coast'.…

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GO’s True Fibre Network to reach 120,000 households by year end, Half Yearly Financial Results report operational improvements

With almost 100,000 homes and over 28,480 customers connected to Malta’s only true fibre network by the end of July, GO’s Fibre-to-the-Home rollout project is well on track to cover…

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