Business

Samsung launches folding smartphone, first 5G handset access_timeFebruary 21

SAN FRANCISCO– Samsung on Wednesday unveiled a smartphone that folds open to be a tablet, becoming the first major manufacturer to offer the feature as it strives to stoke excitement in a slumping market.  The South Korean giant also ap...

US-China trade talks resume in Washington from Tuesday: W. House access_timeFebruary 19

WASHINGTON– US-China trade talks aimed at ending a damaging tariff war will resume from Tuesday in Washington, the White House has announced.  The last set of talks ended Friday in Beijing with no deal, though US President Donald Trump ...

HSBC pre-tax profit up 16% at $19.9 bn in 2018 access_timeFebruary 19

HONG KONG– Banking giant HSBC said on Tuesday that pre-tax profit rose 16 percent to $19.9 billion last year with growth across its global businesses despite a "challenging external environment in the fourth quarter".  The res...

Japan's Honda to shut UK plant, 3,500 jobs at risk access_timeFebruary 19

TOKYO–Honda announced Tuesday it would shut a major plant in Britain, putting 3,500 jobs at risk as the auto manufacturer became the latest Japanese firm to downsize operations as Brexit looms.  The factory in Swindon, southwest England...

Saudi prince starts Asia tour with deals to invest $20 bn in Pakistan access_timeFebruary 18

ISLAMABAD–Saudi Arabia and Pakistan signed a raft of investment deals Sunday worth up to $20 billion for the cash-strapped South Asian country, as Saudi crown prince Mohammed bin Salman launched his Asia tour seeking to emerge from the Khashoggi ...

US-China trade talks: what's under debate access_timeFebruary 17

BEIJING– US and Chinese officials wrapped up days of trade talks in Beijing on Friday with plans to resume negotiations in Washington this week as the world's top two economies try to smooth out their thorny trade dispute.  US President...

'Italy and Germany refused to band Huawei and ZTE ' access_timeफागुन ३, २०७५

MILAN- Italy has denied a report it will ban China’s Huawei Technologies and ZTE Corp from playing a role in building its fifth-generation mobile phone network. “We have no intention of adopting any such initiatives,” the industry ...

Inland Revenue Office collects Rs 2.26 billion in revenue access_timeFebruary 15

Hetauda– The Inland Revenue Office, Makawanpur, has collected more than Rs 2.26 billion in revenue during the first six months of the current fiscal year.  According to the Office, the highest amount of revenue was collected under the t...

Renault board blocks payout to Ghosn access_timeFebruary 13

PARIS– Renault said Wednesday that its board had decided not to pay out the equivalent of two years of salary to ex-CEO Carlos Ghosn which would have been due to him under a non-compete clause in his contract.  After a meeting on Wednes...

Tata Motors shares plunge 30% on Jaguar woes access_timeFebruary 8

MUMBAI–Shares in India's Tata Motors tanked almost 30 percent on Friday after problems at its Jaguar Land Rover unit dragged the luxury carmaker to India's biggest quarterly loss.  The Mumbai-based manufacturer has been badly hi...

ADB, AFD agree to provide 5 bln USD in co-financing in next 3 years access_timeFebruary 8

MANILA– The Asian Development Bank (ADB) and Agence Francaise de Developpement (AFD) agreed on Friday to increase their co-financing commitment from 3 billion U.S. dollars in the past three years to 5 billion dollars in the next three years, allo...

Italian PM says ready to invest in Lebanon access_timeFebruary 7

BEIRUT– Italian Prime Minister Giuseppe Conte said Thursday that Italy is ready to invest in Lebanon and Italian companies are willing to offer their expertise to their Lebanese counterparts, local TV Channel MTV reported.  "We ag...

Trump taps fierce World Bank critic to take its helm access_timeFebruary 7

WASHINGTON–President Donald Trump on Wednesday tapped a well-known World Bank critic to lead one of the world's primary development lending institutions.  David Malpass, a senior official in the Treasury Department, is a controversi...

Merkel says more security needed on Chinese firms access_timeFebruary 5

TOKYO–German Chancellor Angela Merkel called on Tuesday for safeguards to ensure Chinese firms do not hand over private data to Beijing amid mounting security concerns over equipment made by telecoms giant Huawei.  Speaking at Keio Universi...

BP says net profit almost trebles to $9.4 bn in 2018 access_timeFebruary 5

LONDON–BP almost trebled its annual net profit to $9.4 billion (8.2 billion euros) last year as oil prices soared in 2018, the British energy giant announced Tuesday.  Profit after tax rocketed from $3.4 billion in 2017, "primarily...

Himalayan Urja gets permission to issue IPOs access_timeFebruary 5

Kathmandu– The Securities Board of Nepal (SEBON) has granted permission to the Himalayan Urja Bikash Company Ltd to issue the initial public offerings (IPOs) worth Rs 148.5 million.  The company has a permit to open 1,485,000 units of s...

Abe, Merkel hold talks, calling for free trade access_timeFebruary 4

TOKYO –Japanese Prime Minister Shinzo Abe and visiting German Chancellor Angela Merkel held talks here on Monday and advocated free trade as a free trade pact between Japan and the European Union (EU) went into effect on Friday.  "Japa...

Sri Lanka seeks $1 billion loan from China amid debt woes access_timeFebruary 2

COLOMBO, Sri Lanka– Sri Lanka is negotiating a $1 billion loan from China to construct a highway linking the capital Colombo to the hilly resort city of Kandy, even as the heavily-indebted South Asian island nation makes arrangements to pay down ...

Business community demands slash in interest rate access_timeFebruary 1

Biratnagar– The industrialists and traders in Biratnagar have asked the government to immediately reduce the high interest rate charged by the bank and financial institutions (BFIs) on the borrowers.  They argued that the interest rate ...

Global gold demand rises in 2018 over strong central bank buying: report access_timeJanuary 31

BEIJING–Global gold demand increased in 2018 due to a multi-decade high in central bank buying and accelerated investment in gold bars and coins in the second half of 2018, a report showed Thursday.  Global gold demand rose 4 percent fr...