Hedge fund buys iPhone suppliers betting Apple will raise orders

Seoul: A hedge fund is buying shares of Apple Inc. suppliers on an expected increase in orders of parts for the iPhone 11 Pro. “Based on our supply chain data, we believe orders for iPhone 11 Pro for suppliers will be revised up,” Narci Chang, a Taiwan-based portfolio manager at Timefolio Asset Management SG Pvt, […]

Get free iPhone with this fridge at Gitex Shopper Dubai; branded home items at huge discounts

Dubai: Gitex Shopper is Dubai’s extremely popular consumer electronics retail fest, with a dizzying array of offers. More than 35,000 products are on sale at the Dubai World Trade Centre (Shaikh Saeed Hall), offering some of the best deals you’ll find anywhere in town. Besides the hard-core IT and electronics items, there are domestic and home appliances, too. So […]

Internet giants threatened with forced disclosure in France

Paris: France’s former digital affairs minister wants to force internet giants like Amazon, Alphabet, Microsoft, Facebook and Apple to reveal how much profit they make in France, saying the companies are understating their French activities to a vast extent. Mounir Mahjoubi, who served in President Emmanuel Macron’s administration until March, said he may file an […]

Saudi Arabia eyes $2.7 billion in contracts for Red Sea project

Dubai: The company behind a major tourism destination on Saudi Arabia’s Red Sea coast that will include an archipelago of more than 90 islands as well as desert and mountain scenery hopes to award up to 10 billion riyals ($2.7 billion) in construction contracts by the end of 2020. “Between now and the end of […]

Fiat Chrysler fined $40 million for sales-reporting fraud

New York: Fiat Chrysler Automobiles NV agreed to pay a $40 million penalty related to years of sales reports the US Securities and Exchange Commission said were fraudulent. The Italian-American automaker issued statements that misled investors by wrongly claiming a years-long streak of monthly gains, the SEC said Friday. Fiat Chrysler inflated results by paying […]

UAE commits to Zanzibar’s future

Abu Dhabi: His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received Dr. Ali Mohammad Shein, President of Zanzibar. During the meeting, held at the Al Bahar Palace, Shaikh Mohammad and Shein discussed the existing relations between the two countries in the […]

Vietnam’s economy expands 7.31% in 3rd quarter from year ago

Hanoi: Vietnam’s economic growth quickened in the third quarter, underpinned by solid growth in exports and manufacturing. Gross domestic product rose 7.31 per cent from a year earlier, up from a revised 6.73 per cent in the second quarter, the General Statistics Office in Hanoi said Saturday. That compared to a median estimate of 6.7 […]