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India’s Reliance Communications, Sweden’s Ericsson reach $80 million settlement

MUMBAI: India's Reliance Communications Ltd (RCom) said on Monday it had received approval from the Supreme Court to proceed with the sale of its wireless assets to Reliance Jio after it agreed to pay 5.5 billion rupees ($80.06 million) to settle dues with Swedish telecom gearmaker Ericsson. In May, India’s bankruptcy court admitted a plea by Ericsson seeking insolvency resolution against RCom over unpaid service dues, potentially derailing the company’s 250 billion rupee plan to sell assets to Reliance Jio. Ericsson…

Swedish IKEA founder Kamprad dies at 91

STOCKHOLM: Billionaire IKEA founder Ingvar Kamprad, who turned a business he launched as a teenager into one of the world’s best known furniture brands, has died at the age of 91, the Swedish company said on Sunday. IKEA’s simple but sturdy designs and self-assembly products are now familiar in homes around the globe and the retailer is aiming to generate 50 billion euros ($62 billion) in annual revenues by 2020. Kamprad started IKEA in 1943 when he was just 17, but his big break came in 1956, when the company…

Dutch arrest four for ‘terrorism’: prosecutors

ROTTERDAM: Dutch police have arrested four men including a Swedish citizen suspected of being involved in terror-related activities, prosecutors said on Tuesday. "Rotterdam police detained four men early on Sunday evening on suspicion of being involved in terrorism," the public prosecution's office said in a statement. One of the men, aged 29, arrived on a flight from Stockholm earlier Sunday while the other three aged 21, 23 and 30 come from the cities of Vlaardingen, Delft and Gouda in southwest Netherlands. Dutch…

Three arrested over attempted arson on Swedish synagogue

STOCKHOLM: Police in Sweden on Sunday arrested three people over a failed arson attempt at a synagogue in the country's second largest city, Gothenburg. The three were detained on suspicion of attempted arson, police said in a statement, after a burning object was thrown at the building but did not catch fire late on Saturday night. Jewish community members told local media the synagogue was attacked by a group of masked men who threw multiple burning objects. Read More: Palestinian reconciliation hits obstacles on…

Sindh govt, Swedish firm sign vehicle inspection project

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Friday said that deaths in many road accidents were caused by decrepit vehicles. “Most of the road accidents happen because of mechanically unfit vehicles. This is one of the key issues the Sindh government aims to resolve whilst establishing modernized vehicle inspection and certification system for all types of vehicles in the province,” he said while addressing the signing ceremony of Concession Agreement signed between Sindh Transport Department and a Swedish firm,…

Swedish entrepreneur trademarks Trump’s mysterious ‘covfefe’

STOCKHOLM: US President Donald Trump created the mysterious word "covfefe", but a Swedish entrepeneur now owns one of the most tweeted terms on social media.  Per Holknekt, a 57-year-old fashion designer and entrepeneur said Thursday that he had trademarked "covfefe", giving him exclusive commercial rights to the term across Europe. "It's the newest and the most used word in the world... I'm surprised no one thought about trademarking it," Holknekt told AFP. Any company that now wants to use "covfefe" commercially…