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Duo ‘laundering’ foreign currency worth Rs120 mln nabbed at Karachi airport

KARACHI: A money laundering bid has been foiled at Karachi's Jinnah International Airport after siblings were apprehended with a huge amount of foreign currency...

Facebook fined 150,000 euros by French data watchdog

Facebook has been fined 150,000 euros ($166,000) by France's data protection watchdog for failing to prevent its users' data being accessed by advertisers. Watchdog CNIL...

NATO to spend 3 billion euros on satellite, cyber defences

BRUSSELS: NATO plans to spend 3 billion euros ($3.24 billion) to upgrade its satellite and computer technology over the next three years as the Western...

Paris to commit 145 mn euros for 2024 Olympics bid

PARIS: Paris will commit 145 million euros ($162 mn) for the renovation of stadiums and other infrastructure to ensure it hosts the 2024 Summer Olympics, city officials said on Monday.

Denmark confiscates thousands of euros from migrants

COPENHAGEN: Danish police announced they confiscated cash worth nearly 11,000 euros from migrants under a controversial law allowing authorities to seize valuables from people trying to obtain asylum in the country.

Scandal-hit VW gives staff 3,950-euro bonus

BERLIN: German auto giant Volkswagen announced Friday it is giving its staff a 3,950-euro bonus for 2015, despite suffering huge losses due to an emissions-cheating scandal which sent shockwaves through the industry.

Ruble tumbles further along with oil prices

MOSCOW: The Russian ruble tumbled against the dollar and the euro for the second day in a row on Tuesday, punished as oil prices plunged further.

Lufthansa signs $1.25 billion outsourcing deal with IBM

BERLIN: IBM has won an outsourcing contract from Germany's Lufthansa worth 1 billion euros ($1.25 billion) that will see the U.S. company take over the airline's information technology infrastructure services division and staff.

Walt Disney rescues Euro Disney with $1.3 billion funding deal

LONDON/PARIS: Walt Disney Co has come to the rescue of its loss-making subsidiary Euro Disney with a 1 billion-euro ($1.3 billion) funding deal announced on Monday, which could give the U.S. group total control over Europe's biggest tourist attraction.
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