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Passengers stranded as SpiceJet hit by ransomware attack

India’s SpiceJet airline said its systems faced an “attempted ransomware attack” on Tuesday, delaying flights and leaving many stranded at airports. Several flights were delayed on Wednesday, with passengers complaining about lack of service. Many tweeted photographs and videos saying that they had been waiting for hours after boarding, without any response from the airline. SpiceJet later said in a ...

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Samsung commits $356 bn in investments with 80,000 new jobs

Samsung Group on Tuesday unveiled a massive $356 billion investment blueprint for the next five years aimed at making it a frontrunner in a wide range of sectors from semiconductors to biologics. The new figure is an increase of more than a third over its earlier plan announced last year. The tech giant is South Korea’s largest conglomerate and its ...

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Indonesia policy uncertainty hampers resumption of palm oil exports

Indonesia allowed a resumption of palm oil exports from Monday after a three-week ban, but shipments were not expected to get underway until details emerge on new rules aimed at securing domestic supplies of the edible oil. The Southeast Asian country, the world’s biggest palm oil producer, halted exports of palm oil from April 28 in an attempt to bring ...

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Forex reserve increases to US$42.30bln

The country’s foreign-exchange reserves on Sunday increased to US$42.30 billion, as it was at US$41.92 billion on May 10, which enough to cover import of six months. “Recently, the reserve of foreign-exchange was slight dip below the US$42 billion mark, but after that, the reserve was crossed US$42 billion again and today it is US$42.30 billion,” said General Manager of ...

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Apple looks to boost production outside China

Apple Inc has told some of its contract manufacturers that it wants to increase production outside China, the Wall Street Journal reported, citing people familiar with the matter. India and Vietnam, which are already sites of Apple production, are among the countries short-listed by the company as alternatives, the report added, reports Reuters. Apple last month forecast bigger supply problems ...

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Pulse prices rise as soaring dollar, Ukraine war hurt imports

With the cooking oil market still to go off the boil, pulse prices are on the rise and some varieties have vanished from the shelves in some areas as the US dollar soaring against the taka amid the Ukraine-Russia war has hurt imports. The prices of flour, for which Bangladesh depends on the imports of wheat, are also rising. Official ...

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Japan inflation hits seven-year high

Japan’s core consumer prices posted their biggest jump in seven years in April, official data showed Friday, as global commodity prices soared and the yen slumped against the dollar. The core consumer price index, which excludes fresh food, jumped 2.1 percent year-on-year, according to figures released by the internal affairs ministry. It was the first time since March 2015 that ...

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Indonesia to lift palm oil export ban from Monday

Indonesia will lift its palm oil export ban from Monday, following improvements in the domestic cooking oil supply situation, President Joko Widodo said on Thursday, reports Reuters. The world’s top palm oil exporter has since April 28 halted shipments of crude palm oil (CPO) and some derivative products to try to tame soaring prices of domestic cooking oil. The decision ...

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UK inflation jumps to 40-year peak

Britain’s annual inflation rate surged to a 40-year high last month on rocketing energy costs, official data showed Wednesday, deepening a cost-of-living crisis. Consumer prices index inflation hit 9.0 percent in April from 7.0 percent in March, the Office for National Statistics said in a statement. The ONS estimated that this was the highest level since 1982, while it was ...

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London stock market dips as inflation soars

Europe’s main stock markets wavered at the open on Wednesday, with London sliding on news that UK inflation has spiked to a 40-year peak. The British capital’s benchmark FTSE 100 index dropped 0.2 percent to 7,507.32 points, as official data showed inflation soared to 9.0 percent in April on rocketing energy costs. In the eurozone, Frankfurt’s DAX was marginally lower ...

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