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China reverses ban on trade in tiger, rhino products

China says it will allow trading in products made from endangered tigers and rhinos under “special circumstances,” reversing a previous ban and bringing condemnation from conservation groups. A notice from the Cabinet issued Monday avoided mentioning any change in the law, saying instead that it would “control” the trade and that rhino horns and tiger bones could only be obtained ...

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IBM set to acquire North Carolina-based Red Hat in $34B deal

IBM announced Sunday it will acquire North Carolina-based open-source software company Red Hat in a $34 billion stock deal that the technology and consulting giant’s chief executive says will advance the company to the next step in cloud computing.   IBM and Raleigh-based Red Hat said in a joint statement that IBM would buy all Red Hat common shares at ...

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Japan, India leaders build ties amid trade, security worries

The leaders of Japan and India are reaffirming their ties amid growing worries about trade and regional stability.   Indian Prime Minister Narendra Modi, who arrived Saturday, was meeting Japanese Prime Minister Shinzo Abe at a resort area near Mount Fuji on Sunday. Modi is also visiting a nearby plant of major Japanese robot maker Fanuc.   Relations with China ...

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Global markets in sell-off mode

Global markets remained in sell-off mode on Friday, as investor worries sent shares in Asia, Europe and the US tumbling. The benchmark S&P 500 index in the US slid more than 1.7%, closing down almost 10% from its September high.   The Dow Jones fell 1.2%, while the Nasdaq slumped more than 2%.   The falls extended losses earlier in ...

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Sir Philip Green named over harassment claims

Retail billionaire Sir Philip Green has been named in Parliament as the leading businessman accused by a newspaper of sexual and racial harassment. Peter Hain, who identified him in the Lords, said it was his duty to name him, given the “serious and repeated” nature of the allegations.   The Telegraph accused but did not name the businessman on Tuesday. ...

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Sharp falls wipe out Wall Street’s 2018 gains

Wall Street fell on Wednesday in another day of losses, erasing the gains posted this year for two of the three main indexes. The Dow Jones Industrial Average sank 2.4% to 24,583.4 points, while the S&P 500 plunged 3.1% to 2,656.1 points.   The losses pushed the two indexes into negative territory for the year.   The sell-off spread to ...

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Italy budget: European Commission demands changes

The European Commission has told Italy to revise its budget, an unprecedented move with regard to an EU member state. The Commission is worried about the impact of higher spending on already high levels of debt in Italy, the eurozone’s third-biggest economy.   Italy’s governing populist parties have vowed to push ahead with campaign promises including a minimum income for ...

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Saudi summit begins despite calls for a boycott

 Saudi Arabia’s investment conference has gone ahead despite international pressure for a boycott. The Future Investment Initiative (FII) was due to feature 150 high profile speakers from 140 firms.   But around 40 attendees are understood to have pulled out amid allegations the country was behind Saudi journalist Jamal Khashoggi’s killing.   Prominent Saudi critic Khashoggi vanished on 2 October ...

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At Jordan border, Damascus seeks to revive regional trade

By reopening a key land crossing with Jordan this month, the Syrian regime is inching towards a return to trade with the wider region as it looks to boost its war-ravaged economy. The government of President Bashar al-Assad took back control of the Nassib border post in July from rebels as part of a military offensive that reclaimed swathes of ...

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Chinese cars gain growing popularity at Qatar motor show

Chinese cars have attracted wide attention at the ongoing Qatar international motor show, which kicked off on Wednesday. The eighth edition of Qatar Motor Show 2018 (QMS), which will continue until Sunday at Doha Exhibition and Convention Center, is held under the theme “Driving to Innovation” and showcases 165 models of top international car brands.   Ali Najm al-deen, the ...

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