Sunday, February 26, 2017

Business News


Facebook’s WhatsApp is latest to add Snapchat-like features

Now there’s another Facebook Inc. app making features that mimic Snapchat. WhatsApp, the chat application owned by Facebook and used monthly by 1.2 billion people, is adding a built-in camera to let people take photos or videos, and send them directly to their contacts or add them to a “status” ...

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OPEC wins investors back as cuts prompt record bets on oil

Organisation of Petroleum Exporting Countries (OPEC) has never taken supply cuts so seriously, and hedge funds are loving it. Investor optimism that West Texas Intermediate oil prices will rise reached an all-time high as the OPEC delivers on pledges to reduce production. The International Energy Agency said the group has ...

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China’s CNPC buys stake in $22 billion Abu Dhabi oil venture

China National Petroleum Corp. (CNPC) bought a stake in Abu Dhabi’s largest oil concession as the Middle Eastern emirate with 6 per cent of global crude reserves looks increasingly to Asia, its biggest market, for investment to raise output capacity. Abu Dhabi National Oil Co. (Adnoc) awarded CNPC an 8 ...

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Kraft-Heinz drops $143 billion takeover bid for Unilever

Kraft-Heinz has withdrawn its $143 billion takeover bid for Unilever, with both companies issuing a joint statement saying the deal is over. “Unilever and Kraft Heinz hold each other in high regard,” the companies said in a joint statement. Media reports suggest that billionaires Warren Buffett Jorge Lemann – who ...

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UAE ahead of UK, US on economic freedom index

The UAE has entered the top 10 list of countries with the most economic freedom, jumping from 16th to 8th in the annual ranking. US think-tank The Heritage Foundation attributed the UAE’s jump up the rankings to “continuous efforts to strengthen the business climate, boost investment, and foster a diverse ...

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