LISBON, Oct 15 (APP/AFP): Portugal’s Socialist government will introduce a sugar tax on soft drinks in 2017 which is expected to raise 80 million euros ($88 million) for the nation’s public health service, a budget bill presented Friday showed. The announcement comes just three days after the World Health Organization urged countries to start taxing […]
Business News
Portugal to levy sugar tax on soft drinks
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US stocks edge higher; Twitter falls
NEW YORK, Oct 14 (APP/AFP) – Wall Street stocks rose modestly Friday following solid earnings from large banks, but Twitter sank on reports that would-be suitor Salesforce.com has walked away from a takeover. JPMorgan Chase, Citigroup and Wells Fargo all reported lower third-quarter earnings, but still bested analyst expectations. That helped boost sentiment following disappointing […]
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Singapore economy shrinks 4.1% in third quarter
SINGAPORE, Oct 14, (APP/AFP) – Singapore’s export-driven economy shrank the most in four years in the third quarter, officials said Friday, as manufacturing sharply contracted on weaker global demand. The city-state, which is regarded as a bellwether for Asia’s other trade-reliant economies, has been hit hard by the slump in crude prices and sluggish world […]
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Trade deficit falls 13.39% in September
ISLAMABAD, Oct 14 (APP): The trade deficit of the country fell by 13.39 to $2.315 billion in September 2016 from $2.673 billion in August, 2016 as the country’s exports decreased by 6.94 per cent while the imports declined by 10.92 per cent. The country’s exports fell to $1.543 billion in September from $1.658billion in August […]
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SoftBank eyes $100 bn for new tech fund with Saudis
TOKYO, Oct 14, (APP/AFP) – Japanese mobile carrier SoftBank said Friday it hoped to raise as much as $100 billion for a new technology investment fund it has set up in partnership with Saudi Arabia. The company said it would invest about $25 billion in the SoftBank Vision Fund over the next five years, while […]
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Amazon and VMware form alliance in the cloud
SAN FRANCISCO, Oct 14, (APP/AFP) – Cloud computing rivals VMware and Amazon Web Services on Thursday announced an alliance that will let them play off each other’s strengths. The powerful cloud computing arm of online retail giant Amazon will be able to handle VMware software and tools popular with businesses, according to the companies. The […]