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TikTok owner ByteDance dissolves its investment arm
TikTok owner ByteDance has disbanded its investment department, a company spokesperson told CNBC on Wednesday.
Following an assessment at the beginning of the year, ByteDance decided to “strengthen the focus of the business, reduce…
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UK inflation accelerates to near 30-year peak
British annual inflation accelerated in December to its highest level for almost three decades, official data showed Wednesday, fueled by price gains for clothing, food and furniture.
The rate hit 5.4 percent last month after striking a…
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UN warns of slowing global labor market recovery
The United Nations International Labor Organization warned today, Monday, that the labor market recovery from the repercussions of the “Covid 19” pandemic appears to slow in 2022.
In its report on World Employment Trends and Social…
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Indian Prime Minister urges global efforts to tackle cryptocurrency challenges
Indian Prime Minister Narendra Modi said Monday that a collective global effort is needed to deal with the problems posed by cryptocurrencies.
"The kind of technology associated with it, and the decision made by one country will not be…
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Gold holds firm despite expectations of US interest rate hike
Gold prices rose on Monday, but expectations of tighter monetary policy in the United States limited the precious metal's gains
With US markets closed for a public holiday, spot gold rose 0.14 percent to $1819.70 an ounce by 17:05 GMT,…
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China’s 2021 diesel exports sink to 5-year low, LNG imports hit record high
China’s diesel exports in December sank to their lowest monthly level since March 2015, bringing the 2021 total to the lowest since 2016 at 17.21 million tons, data showed on Tuesday.
December exports of diesel slumped to 330,000 tons,…
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European electric vehicle sales outnumber diesel cars deals for the first time
Electric car sales in Europe passed those of diesel engines for the first time in December as they hit 176,000, the Financial Times reported.
Diesel sales over the same month stood at around 160,000.
The electric vehicle deals…
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Egypt allocates $2bn to develop public oil firms in 2022-2023 budget
Egypt’s investment in public oil firms will hit 30 billion Egyptian pounds ($2 billion) in the 2022-2023 budget for the first time, the minister of petroleum and mineral resources announced.
Tarek El Molla said the ministry will boost…
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Credit Suisse chairman resigns over COVID-19 breaches in new setback
Credit Suisse Chairman Antonio Horta-Osorio has quit following an internal probe into his personal conduct, including breaches of COVID-19 rules, raising questions over the embattled lender's new strategy as it tries to recover from a…
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India’s HPCL to raise Iraqi oil imports by 45 percent in 2022
Indian state refiner Hindustan Petroleum Corp. will lift 45 percent more oil from Iraq this year to meet its expanded refining capacity, sources familiar with the matter said.
The refiner will buy 3.2 million tons or about 64,000 barrels…
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