Foreign Business

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BEIJING: China’s industrial output and retail sales growth accelerated in August, government statistics showed on Tuesday, with both of them exceeding expectations in encouraging signs for the world’s second-largest economy. Industrial production rose 6.3 percent year-on-year, the National Bureau of Statistics (NBS) said, faster than July’s 6.0 percent and above…

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HONG KONG: Asian markets mostly rose on Tuesday after the previous day’s hammering as a leading Federal Reserve official tempered comments from her colleagues on the need for an early interest rate hike. However, lingering concerns about the future for central bank policy easing after years of cheap cash are…

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PARIS: IMF chief Christine Lagarde will go on trial in France in December over a massive state payout to tycoon Bernard Tapie when she was finance minister, the court hearing the case announced on Monday. Lagarde, 60, will be tried for negligence by the Court of Justice of the Republic,…

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NEW YORK CITY: US stocks rallied on Monday (Tuesday in Manila) as a top Federal Reserve official argued against hiking interest rates quickly. Dovish remarks from Fed Governor Lael Brainard helped US stocks climb about 1.5 percent, recovering nearly all of the losses from Friday, when surprisingly hawkish comments from…

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NEW YORK CITY: As the US car boom begins to ebb, American auto giant General Motors is eyeing growth in China as an even more crucial component of its business. GM auto sales in China through the first eight months of the year jumped 8.1 percent to 2.38 million, compared…

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SEOUL: Samsung Electronics will sell its printer business to US computer maker HP, the companies said Monday, as the South Korean giant accelerates restructuring efforts amid a generational power transfer in the founding Lee family. HP said it will buy the unit for $1.05 billion and that the deal will…

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SHANGHAI: Hundreds of protestors gathered in Shanghai on Monday demanding that the government investigate an investment company that has failed to pay them since last year. Police tried to clear the crowd from in front of the Shanghai city hall, where around a dozen people handed out pamphlets accusing the…

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HONG KONG: Asian stocks tumbled Monday, extending last week’s global sell-off as comments from top central bankers rang alarm bells on trading floors that the days of cheap money could be numbered. Regional investors followed their US and European counterparts in heading for the exit after two Federal Reserve officials…

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BAHRAIN: A new chemotherapy drug that uses nanotechnology to fight cancer without the typical side effects has been developed in Bahrain. It delivers chemotherapy directly to tumors and is described as the first such anti-cancer drug that can be taken orally. The medication has been developed by researchers at Arabian…

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BEIJING: China’s producer prices fell at their slowest rate for more than four years in August, the government said Friday, another sign of stabilisation in the world’s second-largest economy. The news came a day after Beijing unveiled a forecast-beating rise in imports — the first in almost two years –…

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