Oxford says no to additional Huawei funding

BEIJING. Oxford University has decided to forgo further funding from Chinese tech giant Huawei as scrutiny grows in Europe over the telecom company’s relationship with the Beijing government. Huawei has been under fire in recent months with the arrests of a top executive in Canada and an employee in Poland, along with a worldwide campaign […]

EU rules in cars, farming out of US trade talks

BRUSSELS: The European Union is willing to discuss car tariffs but will not remove duties on farm products in free trade talks with the United States, its trade chief said on Friday, setting it on a possible collision course with Washington. The European Commission, which coordinates trade policy for the 28 member European Union, published […]

Dubai’s family-owned conglomerate Al Mulla Group goes in for major restructuring, eyes expansion

Dubai: One of the UAE’s oldest family-owned conglomerates, the Mohammad and Obaid Al Mulla group that has been in Dubai for 75 years, is targeting acquisitions as part of a major restructuring. It will be focusing on three key business pillars that include healthcare and pharma, travel and hospitality, and real estate. The new group structure was devised […]

Tesla to cut 7% of jobs to lower Model 3 costs, shares tumble

London: Tesla Inc will cut its full-time employee headcount by 7 per cent, with Chief Executive Officer Elon Musk saying the “road ahead is very difficult” to make electric cars affordable for the mass market. The shares fell 7.6 per cent in pre-market trading after the Palo Alto, California-based company said it managed to eke […]

India signals readiness to put growth ahead of fiscal discipline

New Delhi: India’s government signalled it’s ready to sacrifice fiscal discipline to stoke economic growth, as it prepares to unveil its last spending plan next month before a general election. “It entirely depends on what the existing situations are,” Finance Minister Arun Jaitley said in an interview to CNBC-TV18 news channel Thursday. “Therefore without getting […]

ECB has narrow window for rate hikes before economy is too soft

Frankfurt. The European Central Bank will only have a narrow window to raise interest rates before the euro-area economy becomes too weak, according to a Bloomberg survey of the economists. Mario Draghi is seen lifting the deposit rate at his final meeting as president in October, but his successor will only have until spring of […]