Samsung Note 7 users in the UAE can get full refund or S7 Edge

Dubai: Samsung Gulf on Thursday said it will allow owners of the recalled Galaxy Note 7 to get either a full refund or a new Galaxy S7 Edge. The difference in price between the Note and the S7 will be refunded in cash, but users can also use the refund to purchase additional Samsung products, the company said in a statement on its website. More specific details on how to get a refund or exchange the Note 7 have not yet been announced but are expected. “We are putting in place a process to facilitate the exchange and refund of devices and will inform the Galaxy Note 7 users of the next steps at the earliest,” the website said. The technology giant announced the recall of 2.5 million Note 7s…

Stockmarkets: Long-term continues to look bearish The market is clinging to support above the 8,000 mark and hitting resistance above 8,150, says Devangshu Datta. The market is clinging to support above the 8,000 mark and hitting resistance above 8,150. This narrow range is liable to be broken by news flow. That could come out of the US where there is still political uncertainty and a mid-month Fed review. It could come out of India with further developments on the currency crunch. The long-term continues to look bearish. The 200-DMA is at about 8,150, where there appears to be strong resistance. A breakout or breakdown could take the index till either 8,450-8,500 or till 7,800. A drop below 7,915 would emphasise bearish patterns with lower lows. The market is hoping for a big rate cut from the Reserve Bank of ...

Relief for Tata Group as SC says no action on Taj Man Singh hotel till January A bench comprising justices Pinaki Ghose and UU Lalit, while seeking response from the civic body, also asked it to maintain status quo with regard to auctioning of Taj Mansingh until further direction. (Image Source: Website) In a relief to Tata Group’s hospitality arm Indian Hotels Company (IHCL), the Supreme Court on Monday restrained NDMC from going ahead with the auction process of the iconic Taj Mansingh hotel and also from initiating eviction proceedings against the company for vacating the five-star property in the Capital. A bench comprising justices Pinaki Ghose and UU Lalit, while seeking response from the civic body, also asked it to maintain status quo with regard to auctioning of Taj Mansingh until further direction. “For 18 months (during the pendency of the case...

RIL slaps arbitration notice on government over $1.55 bn demand: Dharmendra Pradhan After deducting USD 71.71 million royalty paid on the gas produced and adding an interest at the rate of Libor plus 2 per cent, totalling USD 149.86 million, a total demand of USD 1.55 billion was made on RIL, BP and Niko. (PTI) Reliance Industries has slapped an arbitration notice on the government over a demand USD 1.55 billion demand made on it for “unfairly enriching” by producing natural gas belonging to ONGC, Oil Minister Dharmendra Pradhan said today. The oil ministry had on November 3 issued a notice to RIL, Niko and UK’s BP plc seeking USD 1.47 billion for producing in the seven years ended March 31, 2016 about 338.332 million British thermal unit of gas that had seeped or migrated from state-owned Oil and Natural Gas Corp’s (ONGC) blocks into their adjoining KG...

Bharat Financial sees uptick in collections: Morgan Stanley In its update, BHAF provided the details of collections for installments falling due November 11-25. BHAF runs a weekly collection model. (Source: Reuters) Bharat Financial released an update on collections post demonetisation; collection efficiency on dues where two weeks have elapsed was 97%: In its update, BHAF provided the details of collections for installments falling due November 11-25. BHAF runs a weekly collection model. There has been a significant pick up in collections. In the first week, collections ran below actual dues, with the installment collection gap narrowing progressively. In the second week, collections were higher than dues as borrowers repaid a large part of the previous week’s overdues. BHAF declared a moratorium in 92 per cent of the branches on November 11. As a result, collection efficiency was 10 per cent...

Seth Meyers Rips 'Tricky Dick' Donald Trump Over His Substantial Conflicts Of ... Seth Meyers took aim at Donald Trump’s significant conflicts of interest on Wednesday. The “Late Night” host said the president-elect continues to face “a barrage of questions over his foreign business ties” and how they may affect his administration. Meyers recalled how Trump had promised throughout his presidential campaign to get tough on China, but said that vow was now compromised after it emerged a Chinese state-run bank rents office space from him inside Trump Tower. “To be fair to Trump, he might not have realized the bank was owned by China,” said Meyers, before delivering the killer line, “What’s the bank’s name? The Bank of China.” “We keep getting more reasons to worry that Trump could use his office to benefit himself...

Japan's Asakawa says Trump presidency won't change Japan forex policy: Nikkei Japan's top currency diplomat Masatsugu Asakawa said there will be no change to Japan's currency policy after U.S. President-elect Donald Trump forms his administration, the Nikkei newspaper reported on Thursday.Japan guides exchange-rate policy based on an agreement among the Group of Seven advanced economies that highly volatile currency fluctuations are undesirable for the economy, a stance that won't change after Trump becomes president, Nikkei quoted Asakawa as saying. It did say when the interview was conducted.Asakawa said Trump's stance on exchange rates was still unclear as his remarks suggested he was looking at both the costs and benefits of a strong dollar to the U.S. economy, Nikkei said. The dollar has strengthened against the yen since Trump was elected president and...

Barclays' nine-month net profit drops 5pc on higher provision for bad loans By EDWIN OKOTH A triple jump in loan loss provisions has reduced Barclays Bank of Kenya’s net earnings by 6 per cent in the third quarter ending September 2016. In audited results published in the local dailies on Wednesday, the bank’s loan loss provisions went up more than three times to Sh3.1 billion from Sh986 million last year. A further six-fold jump in directors’ emoluments to Sh96.8 million contributed in reducing the bank’s net earnings to Sh6.06 billion from last year’s Sh6.4 billion. The drop in profits was reflected in the earnings per share which experienced a marginal fall to Sh1.12 from Sh1.18 in the same period last year. Banks were caught between a rock and a hard place after the regulator, the Central Bank of Kenya, pushed ...