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 others have applied for India’s $6.6 billion incentive program...
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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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Less than 20% of employees expected to return to work in mainland China

Less than 20% of employees expected to return to work in mainland China

Less than 20% of Chinese factory employees would return to work after an extended Lunar New Year break due to the coronavirus outbreak, and many components plants in China have decided not to restart production until February 25 despite being...
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India Announces $40 Billion Emergency Fiscal Injection

India Announces $40 Billion Emergency Fiscal Injection

India Announces $40 Billion Emergency Fiscal Injection As Economy Plunges.  India’s economy is rapidly decelerating and could be headed for a financial crisis. As an emergency response to plunging growth rates and falling energy consumption, along with ...
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US Spy Plane Bombardier E-11 BACN Crashed In Taliban Controlled Area Of Afghanistan

US Spy Plane Bombardier E-11 BACN Crashed In Taliban Controlled Area Of Afghanistan

Airliner crash originally reported by Afghan media now appears to be a USAF spy aircraft. Wreck of plane crashed today in Afghanistan looks like to be a USAF Bombardier Global Express 6000 / E-11A “BACN” (Battlefield Airborne Communications Node). ...
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Nissan and Renault dismiss reports of possible break-up

Nissan and Renault dismiss reports of possible break-up

French carmaker Renault and Japanese partner Nissan said on Tuesday their alliance was in no danger of being dissolved. The announcement follows a Financial Times report that Nissan was beefing up plans to quit. The alliance, which also includes Japan’s...
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Huawei’s phones and networking equipment are now “American-free”

Huawei’s phones and networking equipment are now “American-free”

According to a report from UBS and Fomalhaut Techno Solutions cited by the Wall Street Journal, the Huawei Mate 30 Pro flagship phone contains no American made parts. That isn’t surprising since the manufacturer is banned from its U.S. supply chain by...
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Iran discovers oil field containing 53 billion barrels of crude

Iran discovers oil field containing 53 billion barrels of crude

President Hassan Rouhani says Iran has discovered a new oil field containing 53 billion barrels of crude in southwestern Khuzestan Province.  Rouhani told a large crowd of people in the central city of Yazd on Sunday that the discovery was made despite US...
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SoftBank lost at least $4.7 billion by investing in WeWork

SoftBank lost at least $4.7 billion by investing in WeWork

‘I shut my eyes,’ SoftBank CEO Masayoshi Son says after losing more than $4.7 billion on playboy from Tel Aviv and his creature WeWork. SoftBank lost at least $4.7 billion by investing in WeWork after the shared-workspace group’s initial pub...
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Why Saudi Aramco IPO is a trap and will not save the kingdom

Why Saudi Aramco IPO is a trap and will not save the kingdom

At a time when poorly informed investors are preparing for the IPO of Saudi Aramco, it is important to remember the fundamental fact that changes the game. Since the 1990s, scientists have been aware of the existence of a physical phenomenon...
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