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Ajman Chamber inks deal with ‘elGrocer’

Ajman / WAM The Ajman Chamber of Commerce and Industry (ACCI) announced that it has signed a Memorandum of Cooperation with “elGrocer”, to optimally utilise the capabilities of the two parties to serve entrepreneurs, particularly in the field of e-commerce to ensure the growth and development of their business through technologies available. “elGrocer” is an electronic platform that acts as ...

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France and Spain fail the coronavirus test

If Europe has a strategy to stop the spread of Covid-19, it’s keeping it well hidden. France’s President Emmanuel Macron has vowed not to go back to the dark days of national lockdown, preferring instead to “live” with the coronavirus disease, but his government is struggling to halt a jump in cases. France reported more than 10,000 new cases in ...

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Abe successor timed his entrance well

Japan Inc should rejoice at the prospect of a new premier: It can only get better from here. Yoshihide Suga, the top aide to Prime Minister Shinzo Abe, has been elected leader of the ruling Liberal Democratic Party in a landslide, paving his way to the country’s top post. Parliament’s vote on Wednesday will make it official. For industrial Japan, ...

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Sony’s chip problem ruins PlayStation buzz

Sony Corp really didn’t need this. At a time when its collection of businesses, from movies to sensors, are all declining, the Japanese conglomerate had one bright spot on the horizon: a new games console. Now the company, and its investors, will need to wait a little longer for that fresh high. Sony has been forced to cut its own ...

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Brits are clear between tax hikes, spending cuts

As Covid-19 continues to stretch the UK’s public finances, with the deficit possibly approaching 20% of GDP this year, the autumn budget is expected to address the wide gap between tax revenues and spending. The impact is likely not just to be economic, but also political. Number Cruncher recently polled 1,000 British adults on the choices ahead. On the question ...

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HK injects economy with ‘virus stimulus’

Bloomberg Hong Kong announced HK$24 billion ($3.1 billion) in virus relief stimulus and will lift some social distancing restrictions as the city’s economy suffers from a recession prompted by protests and Covid-19. The government will spend HK$4.5 billion to help affected industries, HK$13 billion on virus prevention measures and HK$6 billion on rent concessions, Chief Executive Carrie Lam and senior ...

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Ghosn’s former aide pleads not guilty as trial starts in Japan

Bloomberg Former Nissan Motor Co director Greg Kelly pleaded not guilty to charges of helping former Chairman Carlos Ghosn hide millions in compensation, vowing to prove his innocence in a trial that’s starting almost two years after their arrests in Japan and in the absence of the main suspect. “I deny the allegations,” said Kelly, when asked by the judges ...

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TikTok China twin has 600 million users

Bloomberg Douyin, the Chinese-market version of ByteDance Ltd’s TikTok video-sharing app, surpassed 600 million daily active users in August, rising from 400 million at the start of the year. The service has produced 41.7 billion yuan ($6.1 billion) in revenue for more than 22 million creators over the past year and the company intends to spend $1.5 billion in a ...

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Toyota halts India expansion over high tax regime

Bloomberg Toyota Motor Corp won’t expand further in India due to the country’s high tax regime, a blow for Prime Minister Narendra Modi, who’s trying to lure global companies to offset the deep economic malaise brought on by the coronavirus pandemic. The government keeps taxes on cars and motorbikes so high that companies find it hard to build scale, said ...

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