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Italian vintage: Ferrari sells for a record $38 million

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<strong class="location"> </strong></div>
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<strong class="location">LOS ANGELES: </strong>
<strong>A red 1962 Ferrari 250 GTO Berlinetta, which is said to be 
one of only a handful, has recently been sold for $38.1 million in 
California, becoming the most expensive car ever sold.</strong><br />

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The car, with the chassis number 3851 GT, belonged to the Maranello 
Rosso Collection. It was auctioned at Monterey Car Week near San 
Francisco. The auctioneers did not name the new buyer.<br />

The Ferrari sold has a checkered past. Its first owner was a French 
racer Jo Schlesser who drove the car in competition with his friend, the
 Olympian Alpine ski racer Henri Oreiller during the 1962 Tour de France
 Automobile.<br />

The second time the friends took the car out was during the Coupes du Salon race, where Oreiller crashed it and was killed.<br />

Bonhams said that the car was badly damaged after hitting a trackside
 building and a mourning Jo Schlesser returned it to the factory for 
repair to as-new condition and subsequent resale.<br />

The car was then purchased by Paolo Colombo from Italy the following 
year for competition, and was later sold to Ernesto Prinoth, who used it
 to embark upon an energetic programme of mixed hill climbing and 
circuit racing.<br />

In 1965, Italian enthusiast Fabrizio Violati bought the car and kept 
it until his death in 2010. Since then it has been retained by the 
Maranello Rosso Collezione.<br />

It’s the most expensive car to be sold ever, according to Bonhams. 
The previous record was held by a 1954 Mercedes-Benz W196R Formula 1 
model that was sold in Britain last year for $30 million.<br />

Among the celebrities who own a Ferrari 250 GTO are the designer 
Ralph Lauren, Pink Floyd drummer Nick Mason and the heir to the Wal-Mart
 supermarket chain, Rob Walton, according to <i>The Los Angeles Times</i>.

Italian vintage: Ferrari sells for a record $38 million

LOS ANGELES: A red 1962 Ferrari 250 GTO Berlinetta, which is said to be one of only a handful, has recently been sold for $38.1 million in California, becoming the most expensive car ever sold. …

16 Aug 2014

Boeing, South African Airways to make jet fuel from tobacco

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<br />
<b>JOHANNESBURG:
 US planemaker Boeing has teamed up with South African Airways to 
develop jet fuel from a tobacco plant as part of efforts to cut carbon 
emissions and promote green energy in Africa's most advanced economy.</b><br />
<br />
The
 jet fuel will be made from a hybrid tobacco plant known as Solaris, 
which will be produced by alternative jet fuel maker SkyNRG, both 
companies said in a joint statement on Wednesday.<br />
<br />
Test 
farming of the plants, which are nicotine-free, is ongoing in South 
Africa, with biofuel output expected in the "next few years", the 
companies said.<br />
<br />
"By using hybrid tobacco, we can leverage 
knowledge of tobacco growers in South Africa to grow a marketable 
biofuel crop without encouraging smoking," Ian Cruickshank, SAA's Group 
Environmental Affairs Specialist, said.<br />
<br />
This biofuel has 
potential in several regions where traditional tobacco is cultivated, 
including Africa, southern and central Europe, Asia, Oceania and Latin 
America, Boeing spokeswoman Jessica Kowal said.<br />
<br />
South 
Africa has set the beginning of October next year as the date when fuel 
producers will start blending diesel and petrol with biofuel to cut its 
reliance on imported fuel.<br />
<br />
The biofuels industry in South 
Africa, the continent's biggest agricultural producer, has been held 
back by an inadequate regulatory regime and concerns that biofuels would
 hurt food security and impact food prices.<br />

Boeing, South African Airways to make jet fuel from tobacco

JOHANNESBURG: US planemaker Boeing has teamed up with South African Airways to develop jet fuel from a tobacco plant as part of efforts to cut carbon emissions and promote green energy in Africa's…

16 Aug 2014

Facebook buys cybersecurity startup PrivateCore

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<b>NEW YORK: 
Facebook announced Thursday it was buying California-based cybersecurity
 startup PrivateCore, in a move to boost defenses of its vast server 
network.</b><br />
<br />
"I believe that PrivateCore´s technology and 
expertise will help support Facebook´s mission to help make the world 
more open and connected, in a secure and trusted way," Facebook´s Joe 
Sullivan said.<br />
<br />
"Over time, we plan to deploy PrivateCore´s technology directly into the Facebook server stack."<br />
<br />
PrivateCore
 was launched in 2012 in Palo Alto and specializes in protecting servers
 against malware and other kinds of intrusions.<br />
<br />
PrivateCore´s Oded Horovitz said in a blog post that the two firms "have an aligned mission."<br />
<br />
"Since
 the beginning, we have worked tirelessly on our technology to protect 
servers from malware threats, unauthorized physical access, and 
malicious hardware devices," he said.<br />
<br />
"Working together with Facebook, there is a huge opportunity to pursue our joint vision at scale with incredible impact."<br />
<br />
Terms of the deal were not announced. (AFP)<br />

Facebook buys cybersecurity startup PrivateCore

NEW YORK: Facebook announced Thursday it was buying California-based cybersecurity startup PrivateCore, in a move to boost defenses of its vast server network. "I believe that PrivateCore´s techno…

16 Aug 2014

Judge rejects $324.5 million settlement over Apple, Google hiring

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<br />
<b>NEW YORK: 
Four Silicon Valley companies including Apple and Google failed to 
persuade a U.S. judge to sign off on a $324.5 million settlement to 
resolve a lawsuit by tech workers, who accused the firms of conspiring 
to avoid poaching each other's employees.</b><br />
<br />
In a ruling 
on Friday, U.S. District Judge Lucy Koh in San Jose, California, said 
the class action settlement was too low, given the strength of the case 
against the companies. Intel and Adobe were also part of the proposed 
deal.<br />
<br />
There is "substantial and compelling evidence" that 
late Apple Inc co-founder Steve Jobs "was a, if not the, central figure 
in the alleged conspiracy," Koh wrote. The judge provided details in 
evidence of anecdotes involving Jobs and other Valley executives to show
 why she thought the workers deserved more.<br />
<br />
Representatives
 for Apple and Google Inc declined to comment. Intel spokesman Chuck 
Mulloy said the company is disappointed Koh rejected an agreement "that 
was negotiated at arm's length over many months," but appreciates that 
Koh provided additional information on her views.<br />
<br />
Lawyers for the workers, along with an Adobe representative, were not immediately available to comment.<br />
<br />
In
 their 2011 lawsuit, the tech employees said the conspiracy had limited 
their job mobility and, as a result, kept a lid on salaries. The case 
has been closely watched because of the possibility of big damages being
 awarded and for the opportunity to peek into the world of some of 
America's elite tech firms.<br />
<br />
The case was based largely on 
emails in which Apple's Jobs, former Google Chief Executive Officer Eric
 Schmidt and some of their rivals hatched plans to avoid poaching each 
other's prized engineers.<br />
<br />
PARIS BLUES<br />
<br />
Koh 
referred to one email exchange which occurred after a Google recruiter 
solicited an Apple employee. Schmidt told Jobs that the recruiter would 
be fired. Jobs then forwarded Schmidt's note to a top Apple human 
resources executive with a smiley face.<br />
<br />
Koh also disclosed
 a 2006 exchange over Google's plans to open an engineering center in 
Paris. Google sought to hire three former Apple engineers for the 
project, but Jobs objected. Jobs wrote that his company would "strongly 
prefer that you not hire these guys." Google then told Jobs it had 
scrapped plans for the Paris center, "based on your strong preference."<br />
<br />
The
 four companies agreed to settle with the workers in April shortly 
before trial. The plaintiffs had planned to ask for about $3 billion in 
damages at trial, which could have tripled to $9 billion under antitrust
 law.<br />
<br />
Plaintiff attorneys argued Koh should approve the 
deal because the workers faced serious risks on appeal had the case gone
 forward. Some tech workers filed objections to the settlement, however,
 saying both sides should go back to the negotiating table in the hopes 
of obtaining a larger amount.<br />
<br />
Daniel Girard, a lawyer for 
one of the objectors, said he is "very pleased that the court agreed 
with his position." It is unclear whether objectors would be included in
 any future settlement negotiations.<br />
<br />
In her ruling, Koh 
repeatedly referred to a related settlement last year involving Disney 
and Intuit. Apple and Google workers got proportionally less in the 
latest deal compared to the one involving Disney, Koh wrote, even though
 plaintiff lawyers have "much more leverage" now than they did a year 
ago.<br />
<br />
To match the earlier settlement, the latest deal "would need to total at least $380 million," Koh wrote.<br />
<br />
The
 judge also said the plaintiffs had strong evidence to prove how the 
no-poaching deals impacted wages. In response to hiring pressure from 
Facebook, Google co-founder Sergey Brin announced a policy in 2007 of 
making counteroffers "within one hour" to any Google employee approached
 by the social networking company.<br />
<br />
Google then tried to 
entice Facebook into a no-poaching deal, Koh wrote, but Facebook 
refused. The Facebook threat eventually led Google to alter its salary 
structure and increase all salaries by 10 percent, Koh wrote.<br />
<br />
A further hearing in the case is scheduled for September 10.<br />
<br />
The case is In Re: High-Tech Employee Antitrust Litigation, U.S. District Court, Northern District of California 11-cv-2509.<br />

Judge rejects $324.5 million settlement over Apple, Google hiring

NEW YORK: Four Silicon Valley companies including Apple and Google failed to persuade a U.S. judge to sign off on a $324.5 million settlement to resolve a lawsuit by tech workers, who accused the …

16 Aug 2014

Bonanza of trade: ABAD expo brings $200m worth of agreements

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<strong><strong class="location">KARACHI: </strong>Foreign companies 
participating in the ABAD International Expo 2014 have signed $200 
million worth of trade and investment agreements during the three-day 
event, which is also expected to lead to further investment agreements 
valuing $800 million in the next few months, organisers say.</strong><br />

“The building and construction exhibition brought extraordinary 
results as besides domestic companies, 24 international firms also set 
up their stalls in the fair,” said Mohsin Sheikhani, Chairman of the 
Association of Builders and Developers Pakistan (ABAD), the organisers 
of the event that ended on Thursday.<br />

Speaking at a press conference, Sheikhani, flanked by Senior Vice 
Chairman Saleem Qasim Patel and Vice Chairman Hanif Gohar, said three 
Chinese building material companies producing switches, tiles and 
ceramics had expressed interest in setting up their units in Pakistan.<br />

During the exhibition, housing and trading projects worth Rs150 
billion were designed and the construction industry planned to initiate 
more projects valuing Rs600 billion by the end of 2014.<br />

Stressing the need for developing a master plan for the whole 
country, particularly Karachi, Sheikhani warned that if it was delayed, 
it would increase problems for the coming generation with the 
mushrooming of slums.<br />

“Twenty years ago, slums constituted 17% of the area in Karachi, but 
now the ratio has jumped to 57%,” he said. “If the construction industry
 develops, it will boost the pace of economic growth and create 
thousands of new job opportunities.” In an effort to provide employment 
to young students, the association of builders has approached many 
universities for imparting training to fresh graduates in its ongoing 
projects.<br />

According to Sheikhani, investors from Germany, Malaysia and many 
other countries want to come to Pakistan, who could assist in reducing 
the housing shortage. Separately, the builders association has come up 
with suggestions of low-cost housing schemes for the poor and 
reconstruction of slums.<br />

“If the government helps execute the plan, a large number of people 
will get shelter for their families and a society based on equality will
 develop.” He also called for introducing one-window operations for 
addressing the problems besetting the construction industry.<br />

On the last day of the exhibition, Independence Day celebrations were
 a prominent feature during which star cricketer Shahid Afridi was also 
present.<br />

Pakistan Peoples Party Senator Saeed Ghani visited different stalls 
and said the expo would not only lead to development of the construction
 industry, but also boost the country’s image.

Bonanza of trade: ABAD expo brings $200m worth of agreements

KARACHI: Foreign companies participating in the ABAD International Expo 2014 have signed $200 million worth of trade and investment agreements during the three-day event, which is also expected to…

14 Aug 2014

Tokyo stocks down 0.13pc by break

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TOKYO: Tokyo stocks fell 0.13 percent Friday morning as investors locked in profits after four days of gains.<br />
The
 Nikkei 225 index slipped 20.66 points to 15,293.91 by the break, while 
the Topix index of all first-section issues was down 0.13 percent, or 
1.67 points, at 1,268.83.<br />
Trading was muted with many investors away for Japan's traditional mid-summer holiday.<br />
"With
 volume so light and incentives so few, the selling we're seeing today 
is nothing more than rudimentary after a stretch of strong gains," said 
Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management.
 <br />
"It's entirely possible, however, that even following the 
resumption of 'normal' trading next week, overall market movements will 
remain somewhat subdued," he told Dow Jones Newswires.<br />
In share 
trading, Skymark rose 1.19 percent to 169.0 yen after the airline said 
it was terminating some domestic services and raising fares as it faces 
potentially huge penalties in the wake of a cancelled jet order with 
European plan manufacturer Airbus.<br />
Sony climbed 1.88 percent to 
1,869.5 yen after the Nikkei business daily reported the firm plans to 
sell image sensors for cameras used in vehicles.<br />
The consumer 
electronics and entertainment giant is looking to tap new growth markets
 on the back of a move toward driverless cars and other "smart" vehicles
 that depend on image sensor technology, the newspaper said.<br />
In currency markets, the dollar fetched 102.48 yen in midday Tokyo trade, compared with 102.45 yen in New York.<br />
On
 Wall Street, the Dow Jones Industrial Average added 0.37 percent, 
extending the prior day's gains after jobs data continued to suggest the
 US labour market was improving.

Tokyo stocks down 0.13pc by break

TOKYO: Tokyo stocks fell 0.13 percent Friday morning as investors locked in profits after four days of gains. The Nikkei 225 index slipped 20.66 points to 15,293.91 by the break, while the Topix in…

14 Aug 2014

Apple to launch “iphone 6″ on september 9th!

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<strong>US: Apple Inc has scheduled a big media event related to the iPhone for September 9.</strong><br />

According to the media reports, the analysts claim that Apple may 
launch two iPhone models with 4.7 and 5.5 inch screens this year.<br />

It is reported that the Apple is to unveil the iphone 6 on september 9th. Sources claim that<br />
Apple’s current iPhone models, the 5S and 5C, have a 4-inch display panel.<br />

The company has asked suppliers to manufacture 70-80 million units of
 the new large-screen iPhones by the end of the year, the Wall Street 
Journal reported in July.<br />

Apple usually launches the newest version of its iPhone in September.
 The company did not immediately return emails seeking comment.Apple’s 
shares were down 0.8 per cent at $94.81 in late afternoon trading.

Apple to launch “iphone 6″ on september 9th!

US: Apple Inc has scheduled a big media event related to the iPhone for September 9. According to the media reports, the analysts claim that Apple may launch two iPhone models with 4.7 and 5.5 inch …

14 Aug 2014

BELGIAN ACADEMY TRAINS BUTLERS FOR THE SUPER-RICH

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<span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;"><br /></span>
<span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;">The exclusive School for Butlers and Hospitality in Brussels has found a niche training people to cater to the needs of the world's wealthy, with the Belgian academy drawing applicants from around the globe.</span><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;">"The most important thing for a good butler is to have a good personal attitude and know how to provide maximum service with minimum intrusiveness," School for Butlers and Hospitality director Vincent Vermuelen told EFE.</span><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;">The academy will offer its first four-week course in September at the Plaza Hotel in Brussels for 6,980 euros ($9,380). About 100 candidates from around the world applied for the 12 slots in the class. Butlers are in demand in the wake of the financial crisis even though the public has the idea that they only exist on television series and in novels about Victorian England.</span><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;">Five-star hotels, embassies, yachts and mansions are among the employers of white-gloved butlers. The luxury market's strength throughout the economic crisis has led more people to seek employment as butlers, who can earn from 50,000 euros ($67,195) to 180,000 euros ($241,901) annually, based on experience and the type of employer.</span><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><br style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; outline: 0px; padding: 0px;" /><span style="background-color: white; color: #666666; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 22px;">The School for Butlers and Hospitality is able to charge high tuition because of the quality of its instructors and courses, as well as the opportunities that its certificates open up, Vermuelen said. The Middle East, Russia and China are the markets with the greatest demand for butlers, with academies opening to train people in these areas.</span>

BELGIAN ACADEMY TRAINS BUTLERS FOR THE SUPER-RICH

The exclusive School for Butlers and Hospitality in Brussels has found a niche training people to cater to the needs of the world's wealthy, with the Belgian academy drawing applicants from around th…

03 Aug 2014

Apple sued by employees over labor issues

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<h2>
 Apple has another employee lawsuit to contend with.</h2>
The 
company is facing a lawsuit certified as a class action this week from 
employees who say they were denied meal breaks and rest periods in 
violation of California labor law. <br />
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Attorneys for the plaintiffs estimate that more than 20,000 current or 
former Apple employees from the retail to corporate level have been 
affected by the alleged violations. <br />
Among other things, the 
lawsuit claims Apple employees were forced to work for stretches of five
 hours or more without meals, and didn't get breaks on shorter shifts. 
There are also more nitpicky complaints about alleged failures to 
provide timely wage statements and final checks that arrived a few days 
late.<br />
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<div class="js-vid-hed-cvp_story_0 cnnHeadline">
Apple & Microsoft: Both kicking butt</div>
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The lawsuit contends that Apple's employment rules restrict employees 
from talking about the company's labor conditions with one another, 
allowing the company to "invoke fear into the class members that if they
 so much as discuss the various labor policies, they run the risk of 
being fired, sued or disciplined." <br />
Apple (<span class="inlink_chart"><a class="inlink" href="https://www.blogger.com/null">AAPL</a></span>, Tech30) declined to comment.<br />
This isn't the first time Apple has found itself in hot water for 
labor-related issues. The company also faces a class-action lawsuit from
 Apple Store employees who said they were not paid wages for time spent 
waiting for managers to check their personal bags before they left work.
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  Apple and other tech companies have previously faced a series of lawsuits
 alleging that they engaged in anti-competitive hiring practices by 
agreeing not to poach employees from one another. Earlier this year, 
Apple, Google (<span class="inlink_chart"><a class="inlink" href="https://www.blogger.com/null">GOOGL</a></span>, Tech30), Adobe (<span class="inlink_chart"><a class="inlink" href="https://www.blogger.com/null">ADBE</a></span>) and Intel (<span class="inlink_chart"><a class="inlink" href="https://www.blogger.com/null">INTC</a></span>, Tech30) reached a tentative $324 million settlement
 in a class-action lawsuit involving some 64,000 tech workers who say 
their wages were lower as a result of the no-poaching deal. <br />
Apple has also faced scrutiny in recent years following revelations of wage and overtime violations at Foxconn, its main manufacturing partner in China.

Apple sued by employees over labor issues

Apple has another employee lawsuit to contend with. The company is facing a lawsuit certified as a class action this week from employees who say they were denied meal breaks and rest periods in v…

24 Jul 2014

Scotland eager to cooperate in Pakistan’s power sector

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVyE_NHVtZH3Al6lGg34lv80265O9OJX01jluXmT6NXF7nLjEi9sar8EeIW-JLb1FPX-FZ_rAyMf8xllLgAtQEZ6igTTHPoPYKMLnKJmsroP2qzGr4SPrfRbZX9DVN9dcEx-5xVOjnMYY/s1600/Flag-Pins-Pakistan-Scotland.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVyE_NHVtZH3Al6lGg34lv80265O9OJX01jluXmT6NXF7nLjEi9sar8EeIW-JLb1FPX-FZ_rAyMf8xllLgAtQEZ6igTTHPoPYKMLnKJmsroP2qzGr4SPrfRbZX9DVN9dcEx-5xVOjnMYY/s1600/Flag-Pins-Pakistan-Scotland.jpg" /></a></div>
<strong>ISLAMABAD: Scottish Minister for External Affairs and 
International Development Hamza Yousaf has said that his country is keen
 to cooperate in Pakistan’s power sector.</strong><br />

According to the sources, Minister for Inter Provincial Coordination 
Mian Riaz Hussain Pirzada met Scottish Minister for External Affairs and
 International Development, Hamza Yousaf in Glasgow, where both the 
leaders discussed ways and means to further promote bilateral 
cooperation in the areas of trade, investment, renewable energy, 
education and culture.<br />

Riaz Hussain Pirzada briefed the Scottish Minister about the 
government’s incentives to attract foreign investment in education and 
energy sectors.<br />

The Scottish Minister praised the progressive outlook of the 
Pakistan’s economy and expressed keen interest in cooperation in 
renewable sources of energy.

Scotland eager to cooperate in Pakistan’s power sector

ISLAMABAD: Scottish Minister for External Affairs and International Development Hamza Yousaf has said that his country is keen to cooperate in Pakistan’s power sector. According to the sources, Min…

24 Jul 2014

Microsoft announces the low-cost Nokia Lumia 530

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After it was first <span style="color: #25a7d7;"><span style="box-sizing: border-box;">tipped in early March</span></span> by Evleaks, Microsoft-owned Nokia announced the<span style="color: #25a7d7;"><span style="box-sizing: border-box;">Lumia 530</span></span> on Wednesday. The budget-grade 3G smartphone is a follow-up to the Lumia 520 and <span style="color: #25a7d7;"><span style="box-sizing: border-box;">525</span></span> and the first Lumia launch since <span style="color: #25a7d7;"><span style="box-sizing: border-box;">Microsoft finalized its Nokia acquisition</span></span> in late April. The Lumia 630 and <span style="color: #25a7d7;"><span style="box-sizing: border-box;">635</span></span> were announced just weeks before the deal officially closed during <span style="color: #25a7d7;"><span style="box-sizing: border-box;">Build 2014</span></span>.</div>
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The 530 will start rolling out globally to select markets in August and will sell for less than €100 at its release (under $135). An official U.S. release date and pricing was not announced, but in June, <span style="color: #25a7d7;"><span style="box-sizing: border-box;">Evleaks</span></span> said the 530 would hit T-Mobile mid-summer and come to Cricket in the fall.</div>
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The 530 features a 4-inch display with 854-by-480 resolution at 246 pixels per inch, a slight upgrade from the 800-by-480 display on the 520/525. Under the hood the 530 comes with a 1.2GHz quad-core Qualcomm Snapdragon 200 processor and 4GB onboard storage. That's not much in terms of memory, but the handset also has a microSD slot that can hold another 128GB, and you'll get an extra 15GB free OneDrive storage as well.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRbZV0TInQh42GsDEns-fJWp_sS8GQM-TFnTcIEW_PCRHTIZmltNP0ZcGEGgeA3_kqM1YwZUd26Di7I8-hL1dRAFwNWs7TZ1nog2h4b9qCK94xZeDbBRKGtZmgoKq1IEzIC675AbdyA2Q/s1600/lumia630.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRbZV0TInQh42GsDEns-fJWp_sS8GQM-TFnTcIEW_PCRHTIZmltNP0ZcGEGgeA3_kqM1YwZUd26Di7I8-hL1dRAFwNWs7TZ1nog2h4b9qCK94xZeDbBRKGtZmgoKq1IEzIC675AbdyA2Q/s1600/lumia630.jpg" width="320" /></a>The biggest differentiator between the 520-era budget phones and the 530 is that the phone will come in single and dual SIM versions. Just like its predecessors, the 530 lacks a front-facing camera and has a 5 megapixel rear camera; however, the 530's camera has a longer minimum focus range of 60cm, compared to 10cm on the 520/525.</div>
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The rest of the 530's feature set is about what you'd expect: Bluetooth 4.0, 802.11b/g/n Wi-Fi, and <span style="color: #25a7d7;"><span style="box-sizing: border-box;">Windows Phone 8.1</span></span>. There's also a 1430 mAh battery with a claim of 8.5 hours of Wi-Fi network browsing time (max).</div>
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Along with the 530, Nokia also announced a new smartphone accessory called the Bang mini speaker. Designed by Coloud, the Bang mini speaker is battery-powered, rechargeable, and claims a maximum 8 hours of playing time. You can also daisy chain multiple speakers for more sound. The Bang mini speaker will debut in the coming weeks with an asking price of €19 (about $25).</div>
<br />

Microsoft announces the low-cost Nokia Lumia 530

After it was first tipped in early March by Evleaks, Microsoft-owned Nokia announced theLumia 530 on Wednesday. The budget-grade 3G smartphone is a follow-up to the Lumia 520 and 525 and the first Lu…

23 Jul 2014

Owner demands Rs. 80mn for Dilip Kumar’s Pakistan home

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtdl3r0_TNpQb_dPzl9zS6Jk1l15fEzkDJng2-uW0_BlpMIM4szEQuZBFrfLPVi6tgj7TQoCVS0VQBLOvwp9hVPmX1RaU2m5y0Uk409o9l0PPGqL-fo7J9AX8xRxOivdr8GmVLqdOkq8k/s1600/09149ec8-f34f-41d5-a91a-c3dc33f04544wallpaper1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtdl3r0_TNpQb_dPzl9zS6Jk1l15fEzkDJng2-uW0_BlpMIM4szEQuZBFrfLPVi6tgj7TQoCVS0VQBLOvwp9hVPmX1RaU2m5y0Uk409o9l0PPGqL-fo7J9AX8xRxOivdr8GmVLqdOkq8k/s1600/09149ec8-f34f-41d5-a91a-c3dc33f04544wallpaper1.jpg" /></a></div>
<span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">The current owner of Dilip Kumar’s family house in Peshawar, Akram Ullah, has demanded for </span><span class="WebRupee" style="background-color: white; font-family: MyFont, MyFont_IE; font-size: 12px;">Rs. </span><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">80 million, post the four-marla house was announced as a </span><span style="color: #0066b3; font-family: Arial, Tahoma, Verdana;"><span style="background-color: white; font-size: 12px;">national heritage</span></span><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;"> by Pakistan’s Prime Minister Nawaz Sharif, recently. </span><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">An official of the KP Culture Department had informed that the provincial government wanted to buy and reconstruct the house, even before the Prime Minister’s declaration. </span><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">The official added that Ullah had initially demanded </span><span class="WebRupee" style="background-color: white; font-family: MyFont, MyFont_IE; font-size: 12px;">Rs. </span><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">35 million, but after the declaration, he went for an unreasonable </span><span class="WebRupee" style="background-color: white; font-family: MyFont, MyFont_IE; font-size: 12px;">Rs. </span><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">80 million, at which the provincial government, that had offered only </span><span class="WebRupee" style="background-color: white; font-family: MyFont, MyFont_IE; font-size: 12px;">Rs. </span><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">20 million, warned him that they could just take the property by law as it was already declared to be a national heritage.  </span><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><br style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;" /><span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;">As per Shakeel Waheed Ullah, secretary general, Cultural Heritage Council, though Akram is the legal owner of the house, after the 18th Amendment, acquiring the house was the responsibility of the provincial government and should be taken at the earliest since the residence was in a deplorable condition and could collapse any time.</span><br />
<span style="background-color: white; font-family: Arial, Tahoma, Verdana; font-size: 12px;"><br /></span>

Owner demands Rs. 80mn for Dilip Kumar’s Pakistan home

The current owner of Dilip Kumar’s family house in Peshawar, Akram Ullah, has demanded for Rs. 80 million, post the four-marla house was announced as a national heritage by Pakistan’s Prime Minister…

22 Jul 2014

Apple iPhone 6 models with bigger screens on the way, reports say

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvPt8UEN6H4jr4C6tgioE4-qAmg9VPNU20QzFR95nkyu-1mUDkoh9LDeEGgN3NGEIivEbNDvhacBfdMlL3HsRkm0WTNRzSenNgzYFCDlUHGCs_u8DYoclPZCIjRWWJ1iSIn2jjLlhf5Pk/s1600/samsung-galaxy-5-iphone-5.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvPt8UEN6H4jr4C6tgioE4-qAmg9VPNU20QzFR95nkyu-1mUDkoh9LDeEGgN3NGEIivEbNDvhacBfdMlL3HsRkm0WTNRzSenNgzYFCDlUHGCs_u8DYoclPZCIjRWWJ1iSIn2jjLlhf5Pk/s1600/samsung-galaxy-5-iphone-5.jpg" /></a></div>
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Apple is expected to release the next generation of its smartphone, the iPhone 6, which is rumoured to have a larger screen size.</div>
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<span style="color: #115278;"><b>The Wall Street Journal</b></span> reported Tuesday that Apple has asked its suppliers to produce "between 70 million and 80 million units combined" of the devices, with 4.7-inch and 5.5-inch screens, by Dec. 30. The paper cited "people familiar with the matter."</div>
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The report is consistent with images and videos of the "iPhone 6" leaked in recent months on technology websites that suggested Apple is making new models with bigger screens than the<span style="color: #115278;"><b> </b></span>4-inch iPhone 5, which was released in 2012. That model was replaced with the <span style="color: #115278;"><b>iPhone 5C and iPhone 5S</b></span> in 2013.</div>
<ul style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem; margin-top: 0px; padding-left: 3em;">
<li style="list-style: none outside none; margin-bottom: 0.5em; margin-left: -1em; padding-left: 0.75em; position: relative;"><span style="color: #115278;"><b>Apple launches bigger, lighter iPhone 5</b></span></li>
<li style="list-style: none outside none; margin-bottom: 0.5em; margin-left: -1em; padding-left: 0.75em; position: relative;"><span style="color: #115278;"><b>Apple unveils 2 new iPhones, including cheaper model</b></span></li>
</ul>
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Sites such as <span style="color: #115278;"><b>MacRumours</b></span>, <span style="color: #115278;"><b>TechRadar</b></span> and <span style="color: #115278;"><b>AppleInsider</b></span> say they expect the new smartphones to be released in September, although there are some who suggest the larger, "phablet" model may be released later.</div>
<ul style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem; margin-top: 0px; padding-left: 3em;">
<li style="list-style: none outside none; margin-bottom: 0.5em; margin-left: -1em; padding-left: 0.75em; position: relative;"><span style="color: #115278;"><b>Are phablets really here to stay?</b></span></li>
</ul>
<div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;">
Some of Apple's competitors already make larger screen models.</div>
<div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;">
One of them, Samsung, released a new ad this week, poking fun at Apple's rumoured larger-screen iPhones.</div>
<div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;">
<span style="color: #115278;"><b>The ad for the Galaxy S5</b></span>, which has a 5.1-inch screen, is titled "screen envy," and features a man with an iPhone asking a friend with a Galaxy S5 if he's heard a rumour that iPhone might be getting a bigger screen.</div>
<div style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 18.900054931640625px; margin-bottom: 1rem;">
A voiceover goes on to suggest that iPhone users have been waiting "for like two years," and that, in fact, the Galaxy S5 is "everything you've been waiting for."</div>

Apple iPhone 6 models with bigger screens on the way, reports say

Apple is expected to release the next generation of its smartphone, the iPhone 6, which is rumoured to have a larger screen size. The Wall Street Journal reported Tuesday that Apple has asked its sup…

22 Jul 2014

Monetary policy of Pakistan: SBP keeps interest rate constant at 10% again

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLgBKGS-dH0ExrKLFIHVgoc9mBoyxLVBUqSb3vBH_ypDOkzqKe-LtgYbPGg2p45Ej1MmdPPhLuPBGFHmxL4b7-qoCDdAVsFgW7yxcUVDF72QLqMi0Cox-0Vndj-PmQUaVlxXb5ZshPWxI/s1600/738032-Rupees-1405790529-622-640x480.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLgBKGS-dH0ExrKLFIHVgoc9mBoyxLVBUqSb3vBH_ypDOkzqKe-LtgYbPGg2p45Ej1MmdPPhLuPBGFHmxL4b7-qoCDdAVsFgW7yxcUVDF72QLqMi0Cox-0Vndj-PmQUaVlxXb5ZshPWxI/s1600/738032-Rupees-1405790529-622-640x480.JPG" /></a></div>
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<div>
<strong class="location">KARACHI: </strong>
<strong>In line with market expectations, the State Bank of Pakistan (SBP) decided on Saturday to keep the monetary policy rate unchanged at 10%.</strong><br />

</div>
Addressing a press conference at the central bank’s head office, SBP 
Governor Ashraf Mahmood Wathra painted a rosy picture of the economy by 
saying that conditions at the beginning of 2014-15 are ‘certainly 
better’ than a year ago.<br />

The monetary policy rate, which is announced every two months, is the
 interest rate at which commercial banks are allowed to borrow from the 
central bank’s discount window. The central bank uses this tool to 
control inflation by changing the level of money supply in the economy.<br />

The SBP has its reasons to be optimistic about the economy. Stability
 is finally returning to the foreign exchange market, with the SBP-held 
foreign exchange reserves amounting to $9.4 billion on July 11.<br />

Similarly, the average Consumer Price Index (CPI) inflation in 
2013-14 remained in single digits (8.6%) for the second consecutive 
year, with the SBP expecting the CPI to clock up at 7.5%-8.5% in 
2014-15.<br />

Compared to 15.9% in 2012-13, the year-on-year growth in broad money 
decelerated to 12.5% in 2013-14, which is the lowest monetary expansion 
during the last three years.<br />

Higher external inflows starting in February also substituted part of
 government borrowings from the banking system. Government borrowings 
for budgetary support from the banking system clocked up at Rs303 
billion in 2013-14, which is only 21% of Rs1,446 billion borrowed in 
2012-13.<br />

Yet the SBP’s central board of directors chose to keep the rate flat 
for the next two months, saying ‘challenges and vulnerabilities remain’.<br />

No wonder many observers have raised questions about the autonomy of 
the SBP when it comes to bi-monthly discount rate revisions.<br />

<strong>A question mark over independence</strong><br />

Speaking to <em>The Express Tribune,</em> Topline Securities CEO 
Mohammad Sohail said it was difficult to understand the SBP’s rationale 
to maintain the discount rate at 10%. “All fundamentals are in favour of
 a reduction in the interest rate,” he said referring to the CPI, 
foreign exchange reserves and government borrowings. “It looks like some
 other force is stopping the SBP board from taking the rate cut 
decision.”<br />

Replying to a question about the perceived lack of autonomy, the SBP 
governor said the central bank functioned free from any external 
pressure. “The SBP central board of directors is fairly independent. We 
believe we have autonomy in deciding the monetary policy and have no 
issues there.”<br />

Monetary policy of Pakistan: SBP keeps interest rate constant at 10% again

KARACHI: In line with market expectations, the State Bank of Pakistan (SBP) decided on Saturday to keep the monetary policy rate unchanged at 10%. Addressing a press conference at the central bank…

20 Jul 2014

Man sues makers of “Call Of Duty” for portraying him in negative role

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<strong>US: Former dictator and drug lord sues makers of the Call Of Duty (video game) for portraying him a negative light.</strong>
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According to the media reports, the makers of the most popular game  
franchise are being sued by the incarcerated criminal for portraying him
 as a ‘kidnapper, murderer and enemy of the state’ in Call Of Duty: 
Black Ops II.<br />

It is reported that the game features a nefarious character 
named Manuel Noriega who double crosses the CIA in Panama while 
murdering plenty of his own forces and others along the way.<br />

It is reported that the drug is sentenced 30-years in prison for 
money laundering and drug trafficking but he sued company for portraying
 him a negative role in the video game.<br />

In his lawsuit, brought before the Los Angeles Superior Court, 
Noriega states that the game publisher Activation Blizzard should be 
forced to pay him royalties because the ‘heighten[ed] realism’ of using 
real people ‘translates directly into heightened sales for the 
defendants.<br />

It appears that despite his negative portrayal he is in fact suing 
the publisher for unjust enrichment, unfair business practices, and 
violation of common-law publicity rights.

Man sues makers of “Call Of Duty” for portraying him in negative role

US: Former dictator and drug lord sues makers of the Call Of Duty (video game) for portraying him a negative light. According to the media reports, the makers of the most popular game franchise are…

20 Jul 2014

SBP to announce monetary policy today

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<b>KARACHI: 
The State Bank of Pakistan (SBP) to announce its first bi-monthly 
monetary policy of the new fiscal year on Saturday here, Geo News 
reported.  </b><br />
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The central bank is expected to keep the current discount rate at 10 percent unchanged, the analysts predict.<br />
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Analysts
 said that the indicators like over $14 billion foreign exchange 
reserves, appreciation of rupees against dollar by 8 percent from the 
beginning of the current year and 71 percent reduction in local 
borrowings of the government during previous fiscal year suggest a cut 
in current discount rate, but IMF string to keep inflation in control 
forcing SBP to keep it unchanged at 10 percent.<br />
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Besides, 
some analysts suggest that the central bank in determining the discount 
rate should adopt a careful attitude in the backdrop of price-hikes of 
essential commodities during the month of Ramazan <br />
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On the 
other hand, some analysts are of the opinion that since the private 
sector during previous fiscal year availed Rs348 billion of loans—a 
positive indicator and if the central bank slashes the discount rate by ½
 percent it would help promote the private sector development efforts.  <br />

SBP to announce monetary policy today

KARACHI: The State Bank of Pakistan (SBP) to announce its first bi-monthly monetary policy of the new fiscal year on Saturday here, Geo News reported. The central bank is expected to keep the cu…

19 Jul 2014

McDonald’s Restaurants Becoming Popular Wedding Venues in Hong Kong

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More and more young couples in Hong Kong are turning to McDonald’s fast-food restaurants to fit their shoestring wedding budgets. With prices starting as low as $350 per wedding, the place is pretty much a steal – the deal includes the venue, decorations, audio equipment, food, gifts and invitations. The dream wedding has only one drawback – years later, couples will have to tell their kids that they got married at McDonald’s.</div>
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Surprisingly, not many couples are bothered by this. The demand for McDonald’s weddings is growing in Hong Kong – the wedding party program that was started in three locations in 2011, has now been extended to 15 branches. And, believe it or not, it’s not just about the money, there’s a sentimental value associated with getting hitched at McDonald’s.</div>
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<span style="background-color: white; color: #5b6265; font-family: arial; font-size: 12px; line-height: 20px; text-align: left;">“We started the program because many customers tell us that McDonald’s is where they first started dating,” a company spokesperson explained. “McDonald’s is where their love stories grew. This connection is exactly why they want to hold their wedding parties and even anniversary parties at McDonald’s – to relive sweet beginnings and bring their romantic story full circle.” Apart from weddings, engagement parties and bridal showers are also often held at these 15 branches.</span></div>
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<span style="background-color: white; color: #5b6265; font-family: arial; font-size: 12px; line-height: 20px; text-align: left;">“Our Wedding Party packages have just everything you need, including venue decoration, customized games and special gifts for bride & groom and your guests,” McDonald’s Hong Kong write on their website. “Everything will be taken care of by McDonald’s. All you need to do is be there and enjoy the moment of your lifetime.”</span></div>
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<span style="background-color: white; color: #5b6265; font-family: arial; font-size: 12px; line-height: 20px; text-align: left;">The wedding program includes four packages to suit every budget – the most expensive one – the ‘Love Forever Party’ – costs HK$9,999 (US$1,290) and the cheapest one – the ‘Happiness Party’ – is HK$2,888 (US$372). The Love Forever package includes a decorated venue rental for two hours, wedding presents, a pair of McDonald’s balloon wedding rings, a bridal bouquet, an apple pie cake display, a Crystal McDonald’s house, an MC, invites, food worth HK $3,000 and seating for 50 guests.</span></div>
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McDonald’s Restaurants Becoming Popular Wedding Venues in Hong Kong

More and more young couples in Hong Kong are turning to McDonald’s fast-food restaurants to fit their shoestring wedding budgets. With prices starting as low as $350 per wedding, the place is pretty …

18 Jul 2014

China industrial output up 9.2 percent on-year in June: govt

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<b style="background: transparent; border: 0px; font-size: 15px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">BEIJING: China´s industrial production, which measures output at factories, workshops and mines in the world´s second-largest economy, rose 9.2 percent year-on-year in June, the government announced Wednesday.</b></div>
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Retail sales, a key indicator of consumer spending, increased 12.4 percent in the same month, the National Bureau of Statistics said, while fixed asset investment, a measure of government spending on infrastructure, rose 17.3 percent on-year in the first six months of the year.</div>
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China industrial output up 9.2 percent on-year in June: govt

BEIJING: China´s industrial production, which measures output at factories, workshops and mines in the world´s second-largest economy, rose 9.2 percent year-on-year in June, the government announced …

16 Jul 2014

Dollar rises in Asia

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<b style="background: transparent; border: 0px; font-size: 15px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">TOKYO: The dollar rose in Asia on Wednesday as the head of the US Federal Reserve indicated that interest rates could rise earlier than expected if the world´s biggest economy continues to pick up pace.</b></div>
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In Tokyo afternoon trade, the dollar bought 101.73, up a tad from 101.67 yen late in New York and 101.50 yen in Tokyo earlier Tuesday.</div>
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The euro bought $1.3561 and 137.97 yen, little changed from $1.3570 and 137.97 yen in US trade.</div>
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Fed chief Yellen told lawmakers in Capitol Hill Tuesday that the bank would keep its ultra-low rates in place but could implement increases "sooner and be more rapid than currently envisioned" if the jobs market strengthens further.</div>
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The latest data from the Labor Department showed the world´s number one economy added far more jobs than expected in June, while the unemployment rate dipped.</div>
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But she added that the direction of rates "likely would be more accommodative than currently anticipated" if economic performance is disappointing.</div>
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Markets expect the first rate hike to come in the middle of next year, and Yellen said it would be "sometime in 2015".Capital Economics said in a note that "the Fed appears to be in no rush to begin normalising interest rates, even though the pace of jobs growth has accelerated and the unemployment rate has fallen to 6.1 percent".</div>
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But it added that it expected hikes to start by March.The dollar was mostly higher against other Asia-Pacific currencies.</div>
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It firmed to Sg$1.2436 from Sg$1.2431 on Tuesday, to 60.21 Indian rupees from 60.17 rupees, and to 1,032.70 South Korean won from 1,026.26 won.</div>
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It also rose to 43.61 Philippine pesos from 43.59 pesos, and to Tw$30.01 from Tw$30.00, while it was flat at 11,758.80 Indonesian rupiah and it slipped to 32.17 Thai baht from 32.18 baht.</div>
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The Australian dollar edged down to 93.38 US cents from 93.90 cents, while the Chinese yuan fetched 16.38 yen against 16.33 yen.</div>

Dollar rises in Asia

TOKYO: The dollar rose in Asia on Wednesday as the head of the US Federal Reserve indicated that interest rates could rise earlier than expected if the world´s biggest economy continues to pick up pa…

16 Jul 2014

Oil prices mixed

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<b>SINGAPORE: Oil prices were mixed in Asia Tuesday as investors await congressional testimony by the US central bank chief for fresh clues about the state of the world´s biggest economy, analysts said.</b></div>
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US benchmark West Texas Intermediate for August delivery rose one cent to $100.92 while Brent crude for August eased 18 cents to $106.80 in late-morning trade.</div>

Oil prices mixed

SINGAPORE: Oil prices were mixed in Asia Tuesday as investors await congressional testimony by the US central bank chief for fresh clues about the state of the world´s biggest economy, analysts said.…

15 Jul 2014

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