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(MENAFN - AFP) Asian markets rose on Tuesday, with Tokyo recovering from initial losses as expectations of a US interest rate hike and talk of more Japanese monetary easing pushed the yen down against the dollar.

After Monday's sell-off across most markets, fuelled by the prospect of higher US borrowing costs, investors returned to buying, buoyed by a rally on Wall Street ...

 
(MENAFN - AFP) Google executive David Drummond left the Uber board of directors as competition revs up between the companies over self-driving cars.

"I recently stepped down from Uber's board given the overlap between the two companies," Google chief legal officer Drummond said in a statement.

Drummond noted that Google remains an "enthusiastic investor" in the on-demand ...

 
(MENAFN - AFP) The EU is expected to announce on Tuesday its decision on possible fines against American tech giant Apple, which is suspected of receiving preferential treatment from Ireland on taxes, sources said.

For weeks reports have emerged saying that the European Commission, the bloc's competition watchdog, was gearing up to hit Apple with a hefty penalty over tax ...

 
(MENAFN - AFP) Suspense thriller "Don't Breathe" stole the North American box office thunder in its opening weekend, knocking off "Suicide Squad" from three weeks at the top, industry estimates showed Sunday.

"Don't Breathe" -- a horror twist on home invasion -- features a trio of thieves breaking into the house of a supposedly helpless wealthy blind man. The top moneymaker ...

 
(MENAFN - AFP) Female mosquitoes can transmit the Zika virus to their eggs and offspring, suggesting that efforts to kill adult mosquitoes will fall short, researchers said Monday.

Researchers at the University of Texas Medical Branch in Galveston, Texas, wanted to see if female mosquitoes could pass the infection to their eggs, much the way they can if infected with dengue ...

 
(MENAFN - AFP) Russian gas giant Gazprom on Monday said net profits in the second quarter plunged 17 percent due to higher operating costs which offset a hike in revenues.

The state-run behemoth posted a net profit of 245 billion rubles (3.4 billion euros, $3.8 billion) between April and June, which exceeded forecasts by analysts interviewed by Russia's Interfax news agency.

Gazprom ...

 
(MENAFN - AFP) US industrial snacks giant Mondelez International said Monday it had dropped plans to merge with chocolatier The Hershey Company.

The announcement came nearly two months after Hershey, the maker of Reese's Peanut Butter Cups and Hershey's Kisses, rejected a $23 billion takeover offer from Mondelez.

"Following additional discussions, and taking into account ...

 
(MENAFN - AFP) Japanese shares pushed sharply higher and Wall Street got a boost Monday by rising expectations of an interest rate increase this year by the US Federal Reserve.

The rate hike talk, which came out of the Fed's central banking symposium at the end of last week, sent the dollar up past 102 yen, after having dropped to 99.9 yen last week. Later, the dollar eased ...

 
(MENAFN - AFP) Wall Street registered solid gains Monday on signs of firm US consumer spending and rising expectations that the Federal Reserve will raise interest rates as soon as late September.

The banking sector, which benefits from higher rates, enjoyed some of the best gains led by Wells Fargo, which added 2.2 percent.

The Dow Jones Industrial Average finished ...

 
(MENAFN - AFP) Egypt's parliament on Monday passed a law on value added tax, one of the reforms promised in exchange for a $12 billion loan agreed with the International Monetary Fund, lawmakers said.

Under the legislation, the VAT is to be set at 13 percent for 2016-17 and 14 percent for the following fiscal year, MPs Khaled Youssef and Emad Gad told AFP.

Egypt and ...

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