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HK to strengthen economic ties with Middle East

HONG KONG: John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), said on Friday that Hong Kong will strengthen economic, trade and cultural ties with the Middle East. FOSTER TIES John Lee (left), chief executive of the Hong Kong Special Administrative Region (HKSAR), listens to a briefing …

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Austria looks for other power sources

KAPRUN, Austria: High in the Austrian Alps, hundreds of construction workers toil in a huge underground project aimed at storing hydropower as climate change has reduced the country’s water-dependent electricity production. Austria draws more than 60 percent of its electricity output from the renewable energy source, compared to a global …

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Chinese profit from herding, solar panels

HOHHOT, China: Under a blue sea of solar panels, sheep roam and graze on fresh grass in north China’s dry pastures. “That’s my herd. I’m a herdsman with a job — I’m a maintenance worker at the solar power station,” said Hasenmongkh, 30, pointing to his flock of nearly 100 …

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Libya rivals to work together on oil revenues

TRIPOLI: Rivals in politically divided Libya have agreed to form a committee on sharing oil revenues, a move welcomed Saturday by the UN, after military strongman Khalifa Haftar sought a “fair” split. Haftar, who backs the country’s eastern administration, had last Monday called for a committee to address the issue. …

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Twitter eyes legal action against Meta

NEW YORK CITY: Twitter has threatened legal action against Meta over its new, text-based app called Threads, according to a letter obtained by Semafor. In a Wednesday letter addressed to Meta Chief Executive Officer (CEO) Mark Zuckerberg, Alex Spiro, an attorney representing Twitter, accused Meta of unlawfully using Twitter’s trade …

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Reforms that shaped the Philippine financial system

STRENGTHENING FINANCIAL STABILITY THE Bangko Sentral ng Pilipinas marks its 30th year with a banking system that is sound, stable and liquid. By the end of 2022, the Philippine banking system’s assets stood at P23,047.7 billion, up by 10.7 percent year-on-year. Over the same period, gross total loan portfolio grew …

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