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Toll-road operator Salik jumps 20% on market debut

DUBAI, Sept 29 (Reuters) – Dubai toll-road operator Salik (SALIK.DU) rose 20% above its listing price on its market debut on Thursday in a sign that investors still have appetite for local flotations despite skittish global markets. The company, which has 3.6 million vehicles registered on its system, raised 3,735 billion dirhams ($1.02 billion) by …

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Vietnam tech firm FPT produces country’s first semiconductor chips

HANOI, Sept 28 (Reuters) – FPT Semiconductor, a unit of Vietnam’s leading tech company FPT (FPT.HM), launched its first line of semiconductor chips used in medical devices on Wednesday, part of the company’s efforts to enter the competitive global industry. The company said in a statement it aims to supply 25 million chips globally by …

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US mortgage interest rates jump to 6.52%, highest since mid-2008

Sept 28 (Reuters) – The average interest rate on the most popular US home loan climbed to its highest level since August 2008, data from the Mortgage Bankers Association (MBA) showed on Wednesday. Rising mortgage rates are weighing on the interest-rate-sensitive housing sector as Federal Reserve pushes on with aggressively lifting borrowing costs to high …

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Wall Street ends sharply higher as Treasury yields dip

Apple drops on concerns about iPhone demand Treasury prices rebound after BoE decision S&P 500 records largest one-day gain since Aug. 10 Indexes: Dow +1.88%, S&P 500 +1.97%, Nasdaq +2.05% Sept 28 (Reuters) – Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns …

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Amazon.com unveils device that tracks breath while sleeping

Sept 28 (Reuters) – Amazon.com Inc on Wednesday announced a contactless gadget that can monitor people’s sleep, along with updates to its lineup of voice-controlled devices and e-readers. The online retailer said its $139.99 sleep gadget, known as Halo Rise, tracks room temperature, humidity and light, plus the breathing patterns of the person closest to …

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Tata Motors launches $10,000 electric car in India to further its lead

NEW DELHI, Sept 28 (Reuters) – Tata Motors (TAMO.NS) launched India’s lowest priced electric car at a little over $10,000 on Wednesday as the country’s only electric vehicle (EV) maker looks to draw in more buyers. Tata leads India’s EV market, helped by government subsidies and high tariffs on imports. Its move comes as domestic …

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Dior takes baroque-theme to catwalk for Paris Fashion Week

PARIS, Sept 27 (Reuters) – Dior designer Maria Grazia Chiuri looked to the reign of Catherine de Medici and seized on the era’s hoop skirts, corsets and platform shoes, which she worked into a modern lineup for the label’s spring collection. “I think she was the first that understood the power of fashion,” Chiuri told …

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Apple drops plan to boost iPhone production as demand falters-Bloomberg

Sept 27 (Reuters) – Apple Inc is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday, citing people familiar with the matter. The company told suppliers to curtail efforts to increase assembly of its flagship iPhone 14 product family …

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Saudi NEOM’s tech unit rebrands, invests $1 bln in 2022 -CEO

RIYADH, Sept 27 (Reuters) – NEOM Tech & Digital, a subsidiary of the $500 billion signature NEOM project of the Saudi crown prince, has invested $1 billion in 2022 in AI, including a metaverse platform, its chief executive said on Tuesday. Joseph Bradley said the company is also changing its name to Tonomus as NEOM …

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