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IMF has downgraded global growth once again. Global growth is forecast at 3% for 2019, its lowest level since 2008–09 and a 0.3 percentage-point downgrade from the April 2019 World Economic Outlook. Growth continues to be weakened by rising trade barriers and increasing geopolitical tensions, IMF noted. . According to the fund, trade volume growth in the first half of 2019 has fallen to 1%, the weakest level since 2012.
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Companies in most Asia Pacific markets are conservative in setting their salary increase budgets for 2020, said advisory firm Willis Towers Watson recently. Only nine out of 20 markets in WTW’s Q3 survey plan to have a higher salary budget in 2020, the company pointed out. These countries include Bangladesh, Cambodia, China, India, Japan, Pakistan, Sri Lanka, Thailand and Vietnam, it added.
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Mastercard is teaming with the taxi ride-hailing app Curb to help the American Cancer Society’s Road to Recovery program, which provides free rides to patients going for cancer treatment, Mastercard announced in a press release on Monday (Oct. 14). “Taxis have long been a primary means of transportation for those unable to drive themselves,” said Amos Tamam, CEO of Curb Mobility.
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British cybersecurity software company Sophos is being acquired for $3.8 billion by U.S. private equity firm Thoma Bravo , Bloomberg reported on Monday (Oct. 14). Sophos’s three biggest shareholders — Apax Partners and founders Jan Hruska and Peter Lammer — agreed to a cash offer of $7.40 per share. The takeover is among the biggest private U.K. tech deals in recent years.
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The largest FinTech startup in Latin America — Brazil’s Nubank — is reporting a 25 percent increase in the number of clients since August, Reuters reported on Friday (Oct. 11). The digital bank said at the Brazil Investment Forum in Sao Paulo that it has 15 million clients, according to Nubank founder and CEO David Vélez. Vélez said that 10 million out of the 15 million clients are holders of the bank’s credit card.
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