MONEY

Coca-Cola mulls cannabis in drinks

The Coca-Cola Company said on Monday it is “closely watching” the expanding use of a cannabis element in drinks, another sign cannabis and cannabis-infused products are getting more acceptance in mainstream culture and a harder look from long-established pillars of American business.

ASSOCIATED PRESS, Sep 19 2018

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Ferrari outlines new five year business plan

Sportscar maker Ferrari is blazing its trail under new leadership on limited edition cars based on iconic models of the past, unveiling on Tuesday the first in the Icona special series billed as the most-powerful road car in the company’s history.

ASSOCIATED PRESS, Sep 19 2018

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Heavy equipment firms strike gold in Nepal

The demand for heavy equipment is on the rise, with major companies such as CAT, Sany, Volvo, Terex, Explore Earth Movers and JCB setting up shop in Nepal.

KRISHANA PRASAIN, Sep 19 2018

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Argentina peso rises as IMF sees progress

Argentina’s battered peso currency inched higher and the risk of its bonds defaulting declined on Monday after the government unveiled its budget plan and the IMF said “important progress” had been made on revamping the country’s standby loan agreement.

REUTERS, Sep 19 2018

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Maldives’ Chinese debt could lead to trouble in paradise

A victory for President Abdulla Yameen in a Sunday election in the Maldives could ramp up pressure on its finances, as the government stays the course on a Chinese-backed infrastructure boom that is in danger of swamping the economy.

REUTERS, Sep 19 2018

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FedEx reassures investors about trade war impact

Shortly before the Trump administration announced a new round of tariffs against Chinese goods, FedEx Corp leaders tried to assure investors on Monday that a widening trade war will have little direct effect on the company.

ASSOCIATED PRESS, Sep 19 2018

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China vows to hit back against Trump tariffs

China on Tuesday vowed to retaliate against the United States and warned of “uncertainty” in trade talks after President Donald Trump targeted another $200 billion in Chinese imports with tariffs starting next week.

AGENCE FRANCE-PRESSE, Sep 19 2018

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New Thai Airways team faces headwinds before takeoff

Struggling national carrier Thai Airways International PCL is pinning hopes of a revival to its 1990s heyday on a new leadership team, jet purchases and improving its brand as tourism booms in the region.

REUTERS, Sep 19 2018

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Euro notes feature new anti-counterfeit holograms

New versions of the 100- and 200-euro banknotes have updated anti-counterfeiting features and a slimmer size that should make them easier to fit into wallets and purses.

ASSOCIATED PRESS, Sep 19 2018

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EU targets BMW, Daimler, VW on dieselgate anniversary

The EU opened an in-depth probe into alleged collusion by major German carmakers over anti-pollution technology on Tuesday, a fresh blow to the scandal-hit industry three years after the notorious “dieselgate.”

AGENCE FRANCE-PRESSE, Sep 19 2018

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Axiata scraps $940 million Pakistan deal

A unit of Malaysian telecoms firm Axiata Group has called off a $940 million deal to buy 13,000 telecoms towers in Pakistan after regulators there failed to provide all approvals for the transaction announced a year ago.

REUTERS, Sep 19 2018

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Saudi Arabia fund pumps $1 billion into Tesla rival

Saudi Arabia’s sovereign wealth fund invested more than $1 billion on Monday in a Silicon Valley electric car maker just weeks after Tesla CEO Elon Musk earlier claimed the kingdom would help his own firm go private.

ASSOCIATED PRESS, Sep 19 2018

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India struggles to defend rupee, shifts focus to rate hikes

Investors have increased bets that India’s central bank will need to raise interest rates at least two more times this year to shore up the battered rupee after authorities’ previous efforts to defend the currency failed to sway markets.The government’s latest measures to support the rupee announced last week were particularly underwhelming for market participants, who have since increased bearish positioning on the currency.

REUTERS, Sep 19 2018

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Board scraps 51 Kalimati veggie traders’ permits

The Kalimati Fruits and Vegetables Market Development Board has revoked permits of 51 traders operating stalls at the country’s largest vegetable market, a move to eliminate middlemen in the vegetable trade as their involvement has led to high prices for consumers.

Post Report, Sep 19 2018

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Charges mount against tainted NAC board member Pahadi

Nepal Airlines Corporation (NAC) board member Achyut Raj Pahadi, who has been accused of committing fraud and irregularities on different occasions, has sunk even deeper in controversy following charges that he acted as a consultant to BB Airways in its attempt to buy a NAC Boeing 757 and sat in the NAC board meeting which approved the sale.

Post Report, Sep 19 2018

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Two banks lose Rs1.7 billion over troubled water project

Bank of Kathmandu and Himalayan Bank have failed in their effort to prevent Melamchi Drinking Water Project from pocketing the banks’ combined guarantee of Rs1.73 billion they had given to China Railway 15 Bureau Group, an ex-contractor of the project.

Post Report, Sep 19 2018

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