SEOUL : South Korean authorities are exploring ways to divert some the domestic pension fund’s foreign currency needs as they try to put a floor under a rapidly weakening won. The country’s central bank is reviewing a currency swap with the National Pension Service to sate the fund’s dollar needs, […]
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Global equity funds remained out of favour in the seven days to Sept. 7 as a strong U.S. services industry report fuelled concerns that the Federal Reserve would keep hiking interest rates to tame inflation. Some investors had expected that the Fed might temper its rate hikes to avert a […]
DUBAI: Iraq has received requests to increase the quantities of crude oil it exports to Asia, the head of state oil marketer SOMO told state news agency INA on Friday. China and India will not give up on Iraqi crude oil even if Russian oil is currently offered to them […]
Twitter Inc misled federal regulators about its security defenses and spam accounts, CNN and the Washington Post reported on Tuesday, citing whistleblower disclosures by the social media company’s former security chief Peiter Zatko. Twitter executives don’t have the resources to fully understand the true number of bots on the platform, […]
TOKYO : The U.S. dollar hit a fresh five-week high versus major peers on Monday after more Federal Reserve officials flagged the likelihood of continued aggressive monetary tightening ahead of the central bank’s key Jackson Hole symposium this week. The euro sank to a new five-week trough after Russia announced […]
LONDON : Britain has launched a scheme to extend tariff cuts to hundreds of products, such as clothes and food, from developing countries, part of London’s post-Brexit efforts to set up systems to replace those run by the European Union. In June, Prime Minister Boris Johnson said he wanted to […]
TOKYO : Japan’s Fast Retailing, the owner of global clothing chain Uniqlo, said on Thursday it would open its first discount brand GU store in the United States this autumn. The store will open in the SoHo neighborhood of New York City in what will be the brand’s debut outside […]
SAN FRANCISCO: Alphabet Inc’s Google said yesterday it has dismissed a senior software engineer who claimed the company’s artificial intelligence (AI) chatbot LaMDA was a self-aware person. Google, which placed software engineer Blake Lemoine on leave last month, said he had violated company policies and that it found his claims […]
If you’re waiting for a bitcoin recovery, you may have to sweat it out for months. That’s the conclusion of some technical specialists seeking method from the madness. Bitcoin’s slide since May, swamped by economic angst, has knocked it below its 200-week moving average, at around $22,600, as well as […]
LONDON: British foreign minister Liz Truss clashed over tax policy with former finance minister Rishi Sunak , as the five remaining contenders to be Britain’s next prime minister went head-to-head in the first of three televised debates. An initial field of 11 challengers has been whittled down following two days […]