India Overtakes UK To Become Fifth Biggest Economy

India Overtakes UK To Become Fifth Biggest Economy

Just a decade ago, Indian GDP was the eleventh largest in the world. Now, with 7 percent growth forecast for 2022, India’s economy has overtaken the United Kingdom’s in terms of size, making it the fifth biggest. India’s growth is accompanied by a period of...
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Shahid Soleimani Patrol-Combat Vessel Enters Service in Iran

Shahid Soleimani Patrol-Combat Vessel Enters Service in Iran

On September 5, Iran’s IRGC Navy officially took delivery of the first Shahid Soleimani-class patrol-combat vessel during a ceremony that was held at its base in Bandar Abbas. The new patrol-combat vessel is named after Iran’s Quds Force commander Qassem.....
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Sri Lanka Asks Russians For Help, Suspends Fuel Sales Amid Economic Collapse

Sri Lanka Asks Russians For Help, Suspends Fuel Sales Amid Economic Collapse

A broken and extremely cash-strapped Sri Lanka halted all fuel sales except for essential services in a desperate attempt to manage a severe fuel shortage — allowing the government to buy some time and send two government officials to Russia...
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Gaza – new combat drone becomes fully operational

Gaza – new combat drone becomes fully operational

New Iranian combat drone, called Gaza, has successfully passed flight tests and the unmanned aerial vehicle is now fully operational. The super heavy combat drone, which was unveiled in May last year, has a 21-meter wingspan and a 3,100-kilogram takeoff mass...
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Macau Top Gambling Boss Arrested

Macau Top Gambling Boss Arrested

Shares in Macau casino operators fell Monday after a top gambling boss was arrested over illegal virtual betting activities. Macau’s judiciary police announced they arrested Suncity Group Holdings Ltd. CEO Alvin Chau after he established overseas gamblin...
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Alibaba: Revenue +29% Y/Y, Earnings -38% Y/Y

Alibaba: Revenue +29% Y/Y, Earnings -38% Y/Y

Alibaba on Thursday missed revenue and earnings expectations for the September quarter, as slowing economic growth in China weighed on results, adding to regulatory headwinds. Here’s how Alibaba did in its fiscal second-quarter, versus Refinitiv consensus e...
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Tata Motors Q1 results: Consolidated net loss narrows to ₹4,451 cr

Tata Motors Q1 results: Consolidated net loss narrows to ₹4,451 cr

Auto major Tata Motors’ consolidated net loss for the quarter ended 30 June, 2021 narrowed to ₹4,450.92 crore as compared to net loss of ₹8,437.99 crore in the year-ago period. The automaker’s total revenue came at ₹66,406.05 crore during ...
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Jack Ma’s Ant Said to Target $225 Billion Valuation in IPO

Jack Ma’s Ant Said to Target $225 Billion Valuation in IPO

Jack Ma’s fintech giant Ant Group is reportedly looking to file for dual listing in Hong Kong and Shanghai within the next few weeks, seeking a valuation of US$225 billion. The company is planning to launch its concurrent initial public offering on...
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Apple’s partners and Samsung apply for India’s $6.6 billion program

Apple’s partners and Samsung apply for India’s $6.6 billion program

Apple’s partners and Samsung apply for India’s $6.6 billion local smartphone production program. South Korean giant Samsung, Apple’s  contract manufacturing partners Foxconn, Wistron and Pegatron, and Indian smartphone vendors Micromax and Lava among ...
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After 84 years, Olympus quits camera business

After 84 years, Olympus quits camera business

Olympus, once one of the world’s biggest camera brands, is selling off that part of its business after 84 years. The company said that despite its best efforts, the “extremely severe digital camera market” was no longer profitable. The arriva...
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IndiGo, GoAir get extended deadline till August 31 to replace Pratt & Whitney engines

IndiGo, GoAir get extended deadline till August 31 to replace Pratt & Whitney engines

IndiGo and GoAir’s P&W engine-powered A320neo planes have been facing glitches over the past few months causing large-scale flight disruptions affecting thousands of passengers and raising safety concerns. In the wake of coronavirus-induced lockdown,...
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Apple Is Shifting A Fifth Of iPhone Production From China To India

Apple Is Shifting A Fifth Of iPhone Production From China To India

One reason why the global economy will never be the same after the pandemic is long forgotten, is that supply-chains – which have been in place for decades, taking advantage of China’s cheap labor costs and keeping global inflation in...
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Saudi Arabia is maneuvering to survive the oil price crisis

Saudi Arabia is maneuvering to survive the oil price crisis

Saudi Arabia may have to borrow as much as $58 billion this year to cover a budget shortfall caused by the oil price slump, Bloomberg reports, citing Finance Minister Mohammed al-Jadaan. Al-Jadaan told media this week that the Kingdom might...
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SoftBank Reports Stunning $25 Billion Q1 Loss

SoftBank Reports Stunning $25 Billion Q1 Loss

In an announcement that should surprise absolutely nobody who has been paying attention to WeWork fiasco, SoftBank announced in a corporate filing on Monday that the Japanese telecom conglomerate with a VC arm expected to report the biggest loss in...
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UK’s Vodafone and Other Telcos Fight for Survival

UK’s Vodafone and Other Telcos Fight for Survival

UK’s Vodafone, Other Telcos Fight for Survival as Indian Government Sends Notice on $20.4 Billion Dues. Vodafone’s global CEO Nick Read said last November that there had been a “very challenging situation for a long time” in India. Almost a...
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