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Big scramble for iPhone 6

TOKYO: Buyers from China, deprived of the latest iPhone launch at home, were yesterday among the first in line in Japan to grab the '6' and its new large-screen cousin as Apple hit back at rivals.

Licensing problems in China meant the global rollout went ahead without the huge and lucrativ...ReadMore


$9.5 billion windfall for Yahoo! from Alibaba IPO

SAN FRANCISCO: Yahoo! is making amends for years of blundering with one smart move: an early investment in China's Alibaba Group that has turned into a multi-billion-dollar boon.

UK businesses hail referendum result

LONDON: Britain's business community breathed a sigh of relief yesterday after Scotland voted by a clear margin to remain in the UK.

Indian firm to build Nepal power plant

KATHMANDU: Nepal's government yesterday signed an agreement with Indian company GMR to build the Himalayan nation's largest hydroelectric plant in a small step toward easing chronic power shortages and attracting new investment.

Jobless rate rises in 24 US states

WASHINGTON: Unemploy­ment rates rose in nearly half of US states in August, even as employers in two-thirds of the states added jobs.

John Lewis sales drop over delayed purchases

LONDON: John Lewis, Britain's biggest department stores group, reported a rare dip in weekly sales yesterday, becoming the first major UK retailer to say shoppers were delaying purchases of winter clothing because of unseasonably warm weather.

IFC set to buy 15pc stake in Bank Alfalah

KARACHI: The World Bank's International Finance Corporation (IFC) will take a 15 per cent stake in the paid-up capital of Pakistan's Bank Alfalah, the Karachi-based lender said.

GSK fined $489m for paying bribes in China

SHANGHAI: China yesterday fined GlaxoSmithKline (GSK) a record three billion yuan ($489 million) for paying bribes to doctors to use its drugs, underlining the risks of doing business in the country while also ending a damaging chapter for the British drugmaker.

Prada to open fewer stores as profit falls

MILAN: Prada will open fewer stores than previously planned this year, the Italian luxury goods group said yesterday, after reporting a 21 per cent fall in its first-half net profit.


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