TikTok becomes first social media brand to exit Hong Kong

Hong Kong: China’s ByteDance will remove its TikTok app from Hong Kong mobile stores in coming days, becoming the first internet service to withdraw from the city after Beijing enacted sweeping powers to crack down on national security threats. That announcement comes as the Chinese-owned service itself comes under fire in the US for censoring content […]

Samsung forecasts 23% jump in Q2 operating profit

Seoul: Samsung Electronics forecast a 23 per cent rise in second-quarter operating profit Tuesday thanks to strong demand for memory chips and displays, despite the coronavirus pandemic weighing on the global economy. The world’s biggest smartphone and memory chip maker said in an earnings estimate that it expected operating profit to be 8.1 trillion won […]

COVID-19 and oil slump: How Saudi Arabia is dealing with the new VAT hike

Saudis and residents alike have to confront the challenges to their pocketbooks ever since the VAT rate went from 5 per cent to 15 per cent on July 1 of this year. This was part of some drastic measures announced by the country’s finance minister who had previously foretold of some painful measures. The toll […]