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Australia approves coal port expansion near Barrier Reef

Australia approves coal port expansion near Barrier Reef

December 22, 2015 SYDNEY: Australia on Tuesday approved a controversial port expansion to support mining projects and the dredging of 1.1 million cubic metres (2.4 million cubic feet) of spoil despite conservationists’ fears it threatens the Great Barrier Reef. The decision, creating one of the world’s biggest coal ports, comes two months after the government […]

December 22, 2015 | By | Reply More
BMW hit with $40 million US penalty for safety lapses

BMW hit with $40 million US penalty for safety lapses

WASHINGTON: US auto safety regulators on Monday fined BMW $10 million, part of a $40 million civil settlement over the German automaker’s safety lapses. The fine is the second paid by BMW since 2012 and the latest in a series of civil penalties imposed on major automakers by the National Highway Traffic Safety Administration(NHTSA). Under […]

December 22, 2015 | By | Reply More
Oracle settles FTC charges that it left its customers open to hacking

Oracle settles FTC charges that it left its customers open to hacking

December 22, 2015 WASHINGTON: Oracle Corp has settled allegations by the Federal Trade Commission that it failed to notify customers about unaddressed hacking dangers when it released security updates for the estimated 850 million US computers with Java SE software, the agency said on Monday. The FTC alleged that Oracle promised consumers that its updates […]

December 22, 2015 | By | Reply More
Thai seafood exports not affected by slavery reports

Thai seafood exports not affected by slavery reports

BANGKOK: Thailand said on Monday seafood exports to the United States, Europe and Australia have not been hit by reports of slavery and forced labour by campaign groups and media. The comments come as Thailand, the world’s third-largest seafood exporter, faces increasing pressure to crack down on illegal fishing or face the risk of bans […]

December 21, 2015 | By | Reply More
China pledges policy support to economy, reform in 2016

China pledges policy support to economy, reform in 2016

BEIJING: China will make its monetary policy more flexible and expand its budget deficit in 2016 to support a slowing economy, state media said on Monday, citing top leaders who wrapped up an important meeting and vowed to push forward “supply-side reform”. The annual Central Economic Work Conference is keenly watched by investors for clues […]

December 21, 2015 | By | Reply More
Airbus still aims to deliver first A320neo by year-end

Airbus still aims to deliver first A320neo by year-end

PARIS: Airbus still aims to deliver by year-end the first of its updated medium-range airliners, the A320neo, a source said Monday following reports of a possible delay. “Our objective is to deliver the first A320neo before the end of the year, and that is still within the realm of the possible,” said a source who […]

December 21, 2015 | By | Reply More
Ericsson and Apple sign patent license agreement, settle litigation

Ericsson and Apple sign patent license agreement, settle litigation

December 21, 2015 STOCKHOLM: Swedish telecom equipment maker Ericsson on Monday said it has signed a patent license agreement with Apple Inc but did not specify how much it would earn from the deal. Ericsson estimated however that its overall revenues from intellectual property rights in 2015 would hit 13-14 billion Swedish crowns ($1.52-$1.64 billion), […]

December 21, 2015 | By | Reply More
Brent hits 11-year low as oil extends slide on glut worries

Brent hits 11-year low as oil extends slide on glut worries

SINGAPORE: European benchmark Brent crude slid to an 11-year low on Monday as oil prices resumed their slide in an oversupplied global market facing the prospect of renewed US exports. At 0730 GMT, Brent crude for February delivery was down 59 cents at $36.29. US pricing standard West Texas Intermediate (WTI) for January delivery was […]

December 21, 2015 | By | Reply More
Axiata to buy Nepal’s top mobile operator

Axiata to buy Nepal’s top mobile operator

December 21, 2015 KUALA LUMPUR: Axiata Group Bhd, Malaysia’s biggest mobile operator by market value, said on Monday it has entered into an agreement to acquire Nepal’s top mobile operator in terms of market share for $1.37 billion. Axiata Investments (UK) Ltd, a wholly-owned subsidiary of Axiata Group, will fully acquire Reynolds Holdings Ltd, which […]

December 21, 2015 | By | Reply More
Toshiba leads sharp morning losses in Tokyo stocks

Toshiba leads sharp morning losses in Tokyo stocks

TOKYO: Toshiba led a sell-off in Japanese stocks Monday, with the troubled conglomerate plunging more than nine percent following a weekend report that will likely post a fiscal year loss of more than $4 billion. Exporters were among the worst hit on Tokyo’s Nikkei as the yen strengthened against the dollar, while dealers also tracked […]

December 21, 2015 | By | Reply More