Egypt devalues currency, raises interest rates

Cairo, Nov 3 (IANS) The Egyptian central bank on Thursday devalued the country's currency by 48 per cent against the US dollar and raised interest rates by 3 per cent. The official exchange rate of the Egyptian pound will now be 13 to the US dollar, down from 8.8, Xinhua news agency reported. ...
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Microsoft shares jump as Cloud, Office lead profits

San Francisco, Oct 21 (IANS) Riding on the success of Cloud, Office and Surface tablets, Microsoft reported revenue of $20.5 billion and net income of $4.7 billion in the first quarter of its 2017 fiscal earnings - a news that took its shares to an all-time high on Thursday. ...
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China's contribution to world economy to be 30%

​Beijing, Oct 30 (IANS) The contribution of China to the world economy will remain around 30 percent for the next five years, an expert said in remarks published on Sunday. The transition of China's economy would become an important driver of global economic growth, the Global Times quoted Chi Fulin, director of the China Institute for...
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Investing in India good for Chinese capital: Report

Beijing, Oct 29 (IANS) There are many reasons why investing in India could boost the Chinese capital's clout in the Indian economy, a Chinese specialist says. Investing in India is an inevitable choice of capital, which essentially pursues profits, said Ge Cheng, Assistant Research Fellow at the National Institute of International Strate...
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Bleeding smartphone business lowered Q3 profit for LG Electronics

​Seoul, Oct 27 (IANS) LG Electronics Inc said on Thursday its third-quarter operating profit fell 3.7 percent from a year earlier, hit by sluggish sales in its money-losing smartphone business. ...
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Samsung's profit plunges over Note 7 fiasco, overhaul on the cards

​Seoul, Oct 27 (IANS) South Korean tech giant Samsung Electronics' net profits in the third quarter dropped by a massive 16.8 per cent, primarily due to the Galaxy Note 7 discontinuation, the company announced on Thursday as the shareholders approved the nomination of Vice Chairman Lee Jae-yong to the electronics giant's board of ...
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Declining iPhone sales make dent in Apple profits

​San Francisco, Oct 26 (IANS) Marking the third straight quarter of declining iPhone sales, Apple has posted quarterly revenues of $46.9 billion and quarterly net income of $9 billion -- down nearly 9 per cent from revenue of $51.5 billion and net income of $11.1 billion in the year-ago quarter. ...
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ADB says aid disbursement in Nepal poor

Kathmandu, Oct 21 (IANS) The Asian Development Bank has shown concern over low disbursement of its committed aid to Nepal. Only 66 per cent of its total pledged aid has been disbursed as of September 30. ...
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Whole grain may reduce risk of heart disease

New York, Oct 20 (IANS) Whole grain diet may help to significantly lower the risk of heart disease in overweight and obese adults who are under the age of 50, finds a new study. ...
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US economy continues modest expansion in September, Fed survey shows

​Washington, Oct 20 (IANS) US economic activity continues to expand at a modest to moderate pace from late August through early October, with most districts expecting positive outlook, the latest survey result released by the Federal Reserve showed on Wednesday. ...
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