Monthly Archives: June 2018

Egypt Holds Rates as Subsidy Cuts Rekindle Inflation Worries

Egypt’s central bank kept its benchmark interest rate unchanged Thursday as increases in fuel and electricity prices rekindled concerns over inflation. The Monetary Policy Committee held the deposit rate at 16.75 percent and the lending rate at 17.75 percent. Ten of 11 economists surveyed by Bloomberg had expected no change. Inflation has dropped from highs above 30 percent for much ...

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Egypt parliament to investigate World Cup failures

Egyptian Members of Parliament, along with the Head of Youth and Sports Committee of the House of Representatives, Mohamed Faraj Amer, have called for a fact-finding committee to be setup to investigate possible violations by the Egyptian Football Association (EFA) and suspicions of corruption during the recent 2018 FIFA World Cup in Russia. The intended committee is expected to draft ...

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BAE Systems wins £20bn contract to build warships for Australia

British defence giant BAE Systems has won a £20billion contract to build a new fleet of warships for Australia. The company will provide nine submarine-hunting frigates as part of a deal that Theresa May hailed as a result of Brexit. It saw off competition from Italian and Spanish rivals to secure the lucrative contract. The deal will come as a major boost for UK ministers as ...

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TAC Security Launches AI Based Cyber Risk Management Platform ESOF

India & USA based cyber security solutions provider TAC Security has announced a new platform ESOF (Enterprise Security on One Framework) for organizations to manage their entire IT security and risk assessment needs in one single platform. William May, Former Vice President IBM and Subinder Khurana, Former VP-Cognizant has helped TAC team to build the platform since past two years. ...

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Wipro removes Trump from its risk factors

Wipro has removed US President Donald Trump from the risk factors in its annual filing with the US Securities and Exchange Commission, a year after the information technology (IT) servicesNSE 2.57 % company named his policies as a potential threat. The Bengaluru-headquartered IT company was the first to explicitly name Trump as a risk. The Trump risk factor has now ...

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India concerned over taxation on IT firms by Australia

The Indian side have also asked for greater market access for it fruits and vegetables including potato, tomatoes, onion, okra and cucumber to increase exports. “We have also raised the issue of investment proposals of certain Indian mining companies which are stuck there,” the official added. During his visit, Prabhu has sought investments from Australian superannuation or pension funds in ...

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Australia charges former officer in East Timor spy case

A former intelligence officer who exposed an Australia spying operation in East Timor is facing criminal prosecution, an MP has revealed. East Timor took Australia to a UN court in 2014 over the spying row, related to a border deal from a decade earlier. That treaty set out how the nations would divide lucrative gas reserves in the Timor Sea. East Timor ...

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Australian telecom giant Telstra is slashing 8,000 jobs

Australia’s biggest telecom operator is cutting 8,000 jobs in a dramatic bid to bring down costs. Telstra (TLSYY) said in a statement Wednesday that it will slash employee and contractor roles as part of plans to reduce costs by 2.5 billion Australian dollars ($1.8 billion) by 2022. It will also sell off assets to pare down debt. The company, which has 32,000 employees, said ...

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Australian woman wins right to use dead boyfriend’s sperm

A Queensland woman has won the right to use her dead boyfriend’s sperm to have children after a judge ruled that she was confident any baby would be “loved, cared for and supported”. Ayla Cresswell should be able to use Joshua Davies’ reproductive tissue, the Queensland supreme court justice Susan Brown said in Brisbane on Wednesday. However, it was up to the ...

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Australia can’t afford tax cuts, say unions, as Coalition seals $143bn package

The Turnbull government will on Thursday steer its $143bn income tax package through the parliament after days of brinkmanship around the economic policy debate that will form the centrepiece of the next election. The package will go to the House early after the Senate successfully amended the package on Wednesday to strip out stage three of the plan – the ...

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