HONG KONG (AP) — Chinese telecoms gear company Huawei Technologies has reported its profit more than doubled last year as its cloud and digital businesses thrived in spite of U.S. sanctions. The Shenzhen-based company reported a net profit of 87 billion yuan ($12 billion), helped by strong sales and an improved product portfolio. Revenue jumped nearly 10% from a year earlier, to 704.2 billion yuan ($97.4 billion). Huawei’s rotating chairman Ken Hu said the company’s figures were in line with for
BANGKOK (AP) — Asian shares were mostly higher Friday in quiet holiday trading, with markets closed in Hong Kong, Sydney, Singapore and India, among other places. Many world financial markets were closed on Friday for Good Friday. In India, markets were closed for the Holi holiday. Tokyo's Nikkei 225 rose 0.5% to 40,369.44 and the Kospi in Seoul was little changed, at 2,748.55. The Shanghai Composite index gained 1% to 3,041.17. Taiwan's Taiex advanced 0.7%. In Bangkok, the SET added 0.5%. On Th
BRUSSELS (AP) — The European Union intends to fast-track some of its aid money to Egypt using an urgent funding procedure that bypasses parliamentary oversight and other safeguards, according to the president of the bloc’s executive branch. The 1 billion euros ($1.1 billion) intended for this is part of a larger package of 7.4 billion euros ($8 billion) in financial assistance to the North African country that the EU announced on March 17. Egypt has for years relied on cash handouts, often from
(Bloomberg) -- Japan’s top currency official said recent yen weakness is odd and out of line with current economic fundamentals, reaffirming his commitment to act if needed to prevent excessive swings in the exchange rate.Most Read from BloombergTesla’s $25,000 Car Means Tossing Out the 100-Year-Old Assembly LineBankman-Fried Is Sentenced to 25 Years in Prison Over FTX CollapseApple Plans New iPad Pro for May as Production Ramps Up OverseasUBS Banker’s Frustration Exposes Cracks in World of Clim
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