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Eurozone growth slows as trade tensions persist

BRUSSELS: Economic growth in the eurozone slowed in the second quarter, official data has shown, feeding concerns that global trade tensions fuelled by Washington may be hurting Europe’s economy. Major economic institutions — including the European Central Bank and International Monetary Fund — have warned that growth in the eurozone risks taking a hit from the rising protectionism that stemmed from the “America First” policies of US President Donald Trump. The fresh data released Tuesday confirmed the fears with…

Shamshad visits PSX, expresses satisfaction over growth performance

KARACHI: Caretaker Finance Minister Dr. Shamshad Akhtar, during a visit to the Pakistan Stock Exchange on Saturday, appeared upbeat over Pakistan's growth performance for 2018 as real GDP grew by 5.8 percent. She elaborated that this growth is an outcome of combination of factors including the good performance of both agriculture sector and industry. More notably has been the rise in contribution of services sector over the years to over 59 percent in GDP. The growth has been further driven by rising aggregate demand…

Samsung Electronics profit growth slows on smartphone weakness

SEOUL: South Korean tech giant Samsung Electronics Co Ltd estimated on Friday earnings grew at the slowest pace in more than a year in the second quarter, as analysts said weak smartphone sales likely offset record high chip earnings. Samsung shares fell 2 percent as the guidance gave investors insight into how badly the decline in smartphone profitability is hurting the company’s bottom line after it warned in April of an earnings slowdown amid tougher competition. The world’s biggest maker of memory chips,…