Uber heads to court to legally regain London’s lost license

Uber heads to court to legally regain London’s lost license

LONDON: Uber goes to court on Monday to overturn a decision terminating its license in London after being declared unfit to run a taxi service in its most important European market. Uber has investigated more than 2,500 drivers in London for alleged offences including sex assaults, stalking and dangerous driving,...

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Uber drivers earn tips worth $600 million annually

Uber drivers earn tips worth $600 million annually

LOS ANGELES: Since the launch of the in-app tipping for Uber drivers in the United States last year, Uber has entertained approximately $600 million worth of payments in tips to its drivers. In August, Uber hit $50 million in tips. Since introducing mid-trip ratings and tips in May, there has...

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Transport Transformation: Paris to launch electric scooters soon

Transport Transformation: Paris to launch electric scooters soon

PARIS: The boulevards of Paris, already bustling with a dizzying range of transport devices, are set to feature a new shared electric scooter system that has swept the US and is now heading for Europe. California-based Lime launched a pilot scheme for the two-wheeled powered scooters on Thursday in several...

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SBP reveals Pakistan’s foreign reserves: US$ 10,264.3mn

SBP reveals Pakistan’s foreign reserves: US$ 10,264.3mn

ISLAMABAD: The State bank of Pakistan during a press release on Thursday stated that the total liquid foreign reserves held by the country accounted for US$16,798.0 million on June 14, 2018. In a brief breakdown, the country’s central bank revealed the following: Foreign reserves held by the State Bank of...

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FDI slides down to $2.4bn in 11 months

FDI slides down to $2.4bn in 11 months

KARACHI: While the country is in dire need of dollar inflows, the Foreign Direct Investment (FDI) fell by 1.3% during the first 11 months of 2017-18, reports State Bank on Wednesday. The China-dominated FDI witnessed steep fall in May as it deteriorated by $85 million to $238m. The political uncertainty...

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Moody’s demotes Pakistan’s ratings outlook from stable to negative and depressed

Moody’s demotes Pakistan’s ratings outlook from stable to negative and depressed

SINGAPORE: Moody’s on Wednesday changed the outlook on Pakistan’s rating to negative from stable driven by heightened external vulnerability risk as ongoing balance of payment pressures erode foreign exchange buffers. Nonetheless, he affirmed the B3 debt ratings, considered as being speculative and a high credit risk. The decision to change...

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Oil Ministers of the OPEC cartel gather to discuss production increase

Oil Ministers of the OPEC cartel gather to discuss production increase

VIENNA: The oil ministers of the Opec cartel were gathering on Tuesday to discuss whether to increase production of crude and help limit a rise in global energy prices. The officials were arriving in Vienna ahead of the official meeting Friday, when they will also discuss with Russia, a non-Opec...

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Chief Executive of AUDI, Rupert Stadler alleged for dieselgate attempt

Chief Executive of AUDI, Rupert Stadler alleged for dieselgate attempt

FRANKFURT: Volkswagen’s supervisory boards suspended crisis talks to find a stand-in boss for its Audi brand which was convened after German authorities arrested current Audi Chief Executive Rupert Stadler as part of a probe into emissions test cheating. The directors of Audi and Volkswagen discussed how to run its more...

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“Amnesty scheme cannot be extended after 30th June”: Shamshad

“Amnesty scheme cannot be extended after 30th June”: Shamshad

KARACHI: Caretaker Minister for Finance and Economic Affairs Dr Shamshad Akhtar has directed Pakistan Stock Exchange (PSX) to form a committee to propose a five-year roadmap for the development of Pakistan’s capital market. During Shamshad’s visit to Pakistan Stock Exchange, the minister held meeting with representatives of PSX board management,...

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Samsung vows to use renewable energy sources by 2020

Samsung vows to use renewable energy sources by 2020

Samsung Electronics, the world’s biggest smartphone maker, has vowed to convert its operations in the United States, Europe and China to using only solar and other renewable energy sources by 2020. Following its announcement on Thursday, the tech giant joins Apple and other Silicon Valley companies in delivering such a...

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