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Bridging The Gap
US growth rate hits three-year low US growth rate hits three-year low
The US economy slowed dramatically in the first three months of the year, according to official data. GDP expanded at an annual rate of 0.7% in the first quarter - the slowest rate since the first quarter of 2014. It will be unwelcome news for President Donald Trump who, during his election campaign, made a pledge to raise growth to 4%. In a bid to fulfil that promise, on Wednesday the White Ho...
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Offer for Dulux owner AkzoNobel raised again Offer for Dulux owner AkzoNobel raised again
US paint firm PPG has increased its proposed bid for Dulux owner AkzoNobel for the second time. The offer, of 96.75 euros per AkzoNobel share, is 8% more than it offered on 22 March, and 17% more than its opening offer made on 2 March. AkzoNobel has been trying to repel the bid by announcing plans to spin off its chemicals unit and return most of the proceeds to shareholders. PPG said the new o...
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Chinese firm wins bid to supply steel for Karachi nuclear power plant: media reports Chinese firm wins bid to supply steel for Karachi nuclear power plant: media reports
Chinese steel manufacturer Baosteel has won a bid to supply steel to the ongoing nuclear coastal power plants (K-2 K-3) in Karachi, in what is being reported to be the "first export deal for China-designed, third-generation nuclear power technology", Chinese media reported on Monday. With the state-owned Baosteel supplying Pakistan with relevant resources for Karachiís two upcoming nuclear powe...
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Bulgaria's Sunny Beach offers 'best value in Europe' Bulgaria's Sunny Beach offers 'best value in Europe'
Sunny Beach in Bulgaria has been ranked as the most affordable resort in a Post Office study of 19 European destinations. The research found a basket of everyday items cost £37 at the Black Sea resort while the same goods in Ibiza, the most expensive destination, cost £131. It also found average prices for UK tourists had risen across Europe, partly because of the weaker pound. The Post Office ...
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KFC to nix antibiotics from chicken by 2018 KFC to nix antibiotics from chicken by 2018
KFC plans to stop using chicken that contains antibiotics in the U.S. by the end of 2018, becoming the latest fast-food chain to move toward a more natural product. The chain, with 4,200 restaurants across the nation, said Friday it is cutting antibiotics from both its boneless and on-the-bone chicken. Other quick-service chains, such as Chipotle, McDonald's, Burger King, Panera and Wendy's,...
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Chinaís Xiaohong nominated ADB country director to Pakistan Chinaís Xiaohong nominated ADB country director to Pakistan
ISLAMABAD: The Asian Development Bank (ADB) has nominated Chinaís Xiaohong Yang as the new country director to Pakistan, a move expected to improve coordination between the two countries. The development is also projected to assist in the execution of regional strategic projects in Pakistan. ADB to provide Rs100m loan to acquire land for new ring road According to the Ministry of Finance, t...
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Oil slips towards $50 on doubts over duration of output cut Oil slips towards $50 on doubts over duration of output cut
London: Oil fell further towards $50 a barrel on Monday, pressured by uncertainty over whether an OPEC-led production cut will be extended beyond June in an effort to counter a glut of crude. A committee of ministers from OPEC and outside producers agreed on Sunday to look at prolonging the deal, stopping short of an earlier draft statement that said the committee recommended keeping the measur...
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Saudi Aramco chooses hybrid sukuk structure for first debt issue Saudi Aramco chooses hybrid sukuk structure for first debt issue
DUBAI: Saudi Aramco has chosen a commonly used hybrid structure for a domestic offer of riyal-denominated Islamic bonds that will be the state-owned oil giantís first debt sale, the prospectus for the offer showed. The debt issue is part of the state-owned oil giantís plans to develop new sources of finance in an era of low oil prices. They include what could be the biggest ever stock market li...
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Google promises to take action on 'hateful' content Google promises to take action on 'hateful' content
Google has responded to major companies withdrawing online adverts by promising to take "a tougher stance on hateful, offensive and derogatory content". Philipp Schindler, the firm's chief business officer, said Google would also tighten advertising safeguards. He added that as well as removing content, its YouTube team would revisit the guidelines on allowable videos. The move came after sever...
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Peugeot 'set to unveil deal to buy GM's Opel on Monday' Peugeot 'set to unveil deal to buy GM's Opel on Monday'
France's PSA Group, maker of Peugeot and Citroen cars, has reached a deal with General Motors to buy its Opel and Vauxhall brands, according to reports. PSA's board agreed the deal on Friday, and an official announcement is planned for Monday, said Reuters, citing unnamed sources. News that the two companies were in talks emerged last month raising fears that the deal could lead to job losses. ...
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