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US Agency Says Facebook Ads Let Landlords Discriminate


August 20, 2018

San Francisco:The US Department of Housing and Urban Development on Friday accused Facebook of breaking the law by letting landlords and home sellers use its ad-targeting system to discriminate against potential buyers or tenants. A formal complaint filed by HUD said that Facebook advertisers were able to target offers of homes available for rent or sale based on factors such …

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External finance risks constrain PTI govt: Fitch Ratings


August 20, 2018

HONG KONG: Pakistan’s incoming PTI-led coalition government, which took office this week, will be under immediate pressure to arrest the deterioration in external finances and address fiscal challenges, as well as to attract the external funding necessary to meet its financing gap, stated Fitch Ratings. The new government has more political capital to take positive though difficult policy actions, but …

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Qatar and Turkey central banks sign swap agreement


August 20, 2018

DUBAI: Qatar and Turkey´s central banks have signed a currency swap agreement to provide liquidity and support for financial stability, Qatar´s central bank said on Sunday, days after Turkey´s Gulf ally pledged $15 billion in support. The agreement, which was signed by the heads of the two central banks on Friday, will establish a two-way currency exchange line, the Qatar …

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India’s falling rupee a ´double-edged sword´ for economy: analysts


August 18, 2018

Mumbai -India´s rupee hit fresh record lows Thursday amid warnings that benefits to exporters from a weaker currency would be offset by the higher price paid by Asia´s third-largest economy for oil. The rupee slid to 70.38 to the dollar just two days after crossing 70 for the first time as India got dragged into the turbulence of the Turkish …

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Turkish lira hammered again as crisis spills into Asian markets


August 14, 2018

HONG KONG: Asian markets tumbled and the Turkish lira dived almost eight percent Monday on fears that the economic crisis gripping Turkey could spill over into the global economy. With investors already on edge over the China-US trade war, the lira’s collapse sparked a sell-off in Europe and New York at the end of last week, with safe haven assets …

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Indian rupee hits record low of 70 to the dollar


August 14, 2018

MUMBAI: The Indian rupee hit a record low of 70 to the dollar on Tuesday as emerging market currencies are sold off by investors spooked by the Turkish financial crisis. The under-pressure rupee touched 70.09 briefly during mid-morning trade as fears grow that the plight of Turkey´s lira will spread to other emerging countries. South Africa, Argentina, Mexico, Brazil and …

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US doubles tariffs on steel from Turkey


August 11, 2018

WASHINGTON – US President Donald Trump said Friday he had doubled steel and aluminum tariffs on Turkey, adding to pressure on that nation’s troubled economy amid a diplomatic row with Washington. “I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong …

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Turkey lira crashes as Trump piles on pressure


August 11, 2018

ISTANBUL – The embattled Turkish lira tumbled over 16 percent to new record lows against the dollar on Friday as strains with the United States intensified, but President Recep Tayyip Erdogan defiantly proclaimed Turkey would emerge victorious in an “economic war”. Compounding the lira’s agony, President Donald Trump said he had doubled steel and aluminium tariffs on Turkey, noting that …

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Pakistan plans to borrow $4bn loan from IDB: report


August 10, 2018

ISLAMABAD: Pakistan is planning to borrow over $4 billion from Islamic Development Bank (IDB) to bail out its economy, which is facing a balance-of-payments crisis. Financial Times reported that Saudi-backed IDB has agreed to make a formal offer to lend Pakistan the money after formation of new government. According to the report, Pakistan moves to restore its currency reserves when …

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Samsung unveils newest smartphone hoping for sales boost


August 10, 2018

NEW YORK: South Korean electronics giant Samsung unveiled the new Galaxy Note 9 smartphone Thursday, its latest effort to address flagging sales of the high-functioning gadgets. Boosting the power and the price, Samsung hopes to win back customers in the competitive market. The consistent leader in the global smartphone market, the company nonetheless suffered a 22 percent drop in mobile …

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