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Category: 3. Business

  • The Concorde spy who sold secrets to Russia

    The Concorde spy who sold secrets to Russia

    Mr Doyle was not the only person to potentially sell inside secrets on the development of Concorde.

    In 1999, it was revealed a spy codenamed “Agent Ace” had also betrayed Britain.

    The agent was an aeronautical engineer recruited in 1967, according to papers smuggled out of Russia by dissident KGB officer Vasili Mitrokhin.

    It is thought Ace handed over more than 90,000 pages of detailed technical specifications.

    The agent was one of more than a dozen spies operating within Britain and passing commercial and technological secrets to the Russians at the height of the Cold War, the papers revealed.

    The secrets that made it out of Filton helped Russia build the Tupolev-144, nicknamed Concordski, and which was strikingly similar to Concorde.

    It remains unclear whether Mr Doyle did, in fact, pass on the details he claimed to have done in the interview to the KGB or any other secrets about the Concorde programme.

    For one, questions marks remain over why Mr Doyle was never prosecuted – despite admitting spying for Russia.

    UK Parliament records seen by the BBC raised that very question on the 18 October 1971.

    The Attorney General at the time said he had been consulted about the possibility of a prosecution under the Official Secrets Act, but a prosecution would be unlikely to succeed, based on the evidence, and criminal proceedings should not be started.

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  • Gift cards surge boosts retail spending despite Black Friday competition

    Gift cards surge boosts retail spending despite Black Friday competition

    A surge in gift cards and vouchers is driving more customers into stores on Boxing Day, helping what has traditionally been one of the biggest sales for retailers compete with the increasing popularity of newer promotional events like the Black Friday and Cyber Monday juggernauts.

    Gerry Harvey, the executive chairman of electronics and whitegoods giant Harvey Norman, said gift cards and vouchers now accounted for about one-fifth of all transactions, particularly on the other side of Christmas.

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  • China signals tolerance for stronger renminbi

    China signals tolerance for stronger renminbi

    Unlock the Editor’s Digest for free

    China has fixed the renminbi at its strongest level against the dollar in 15 months, a move that analysts say signals its tolerance of a gradual appreciation as its soaring exports stoke tensions with trading partners.

    The People’s Bank of China on Monday set the renminbi at 7.03 to the dollar, the strongest fix since September 30 2024. The currency has strengthened by almost 4 per cent this year against the greenback but has weakened against the euro and other currencies.

    The relative weakness of the Chinese currency has been a bugbear for American and European leaders, who see it as unfairly advantaging their exporters and contributing to China’s enormous trade surplus.

    “It’s clear we’re seeing an acceleration in renminbi strength to the end of year,” said Mansoor Mohi-uddin, chief economist at Bank of Singapore. “They’re clearly allowing the currency to rise but in a controlled way.”

    Prior to a trade truce agreed in October, US tariffs on Chinese goods were at one stage as high as 145 per cent. “Now as the tariff situation becomes a lot clearer and less troublesome, you see the currency begin the rebound,” said Mohi-uddin.

    The renminbi spot rate, which can fluctuate 2 per cent either way around the PBoC midpoint fix, has strengthened in recent weeks.

    The Chinese central bank, in a statement released last week in the wake of a Monetary Policy Committee meeting on December 18, pledged to “maintain the basic stability of the [renminbi] exchange rate at a reasonable and balanced level”.

    Even as the central bank has allowed the currency to strengthen, “the PBoC is also becoming more resistant to gains in the [renminbi], especially as they approach 7 [per dollar], which is both a psychologically important level for the PBoC and for exporters,” said Mitul Kotecha, head of foreign exchange and emerging markets macro strategy at Barclays.

    “Never gamble on a one-way appreciation” of the renminbi, the state-owned Shanghai Securities News said in an article published on Monday.

    Analysts doubted the PBoC would allow an appreciation that would undermine its export powerhouse economy, given its 5 per cent GDP growth target.

    “The golden goose has been the exports trend, which has been the biggest contributor to growth this year,” said Kotecha.

    He added that having a strong currency at a time when other drivers of growth, such as housing, are particularly weak will make it “tough for China to achieve its growth targets”.

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  • An integrative computational approach for identification of NLRP3 inhibitors through machine learning, docking, dynamics and DFT analysis

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  • L&T Wins (Significant) Order for Transportation Infrastructure Business

    L&T Wins (Significant) Order for Transportation Infrastructure Business

    Mumbai: The Transportation Infrastructure business vertical of L&T has won a significant order for Hyderabad Greenfield Radial Road.

    This order pertains to Phase-2 of the Greenfield Radial Road, wherein a 22.3 km 3+3 lane access-controlled radial road is being constructed in the Ranga Reddy district.

    L&T’s scope involves construction of a 3.6 km long viaduct, minor bridges, underpasses and culverts. Construction of service roads on both sides, extensive retention structures, storm water drainage system, footpaths, cycle track and landscaping works are also in L&T’s scope.

    This is the first of several planned radial roads linking Hyderabad’s Outer Ring Road to the upcoming Regional Ring Road. It will improve regional connectivity and support growth, providing better access to IT hubs, Electronic City, the Young India Skills University and the Bharat Future City.

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  • Significant changes on the horizon for tourism industry

    Significant changes on the horizon for tourism industry

    Cable car above Rotorua lake and city.
    Photo: 123RF

    The Tourism Minister has signalled significant change could be on the horizon for the industry.

    Louise Upston has set her sights on doubling the value of tourism exports by 2034, growing the number of Kiwis working in tourism and hospitality, and restoring international visitor arrivals to at least 2019 levels.

    In June, she unveiled how the government plans to hit that target, but more details for the medium and long term picture were yet to be revealed.

    The targets were ambitious, but she said the industry had pulled together this year.

    “It’s getting the balance of continuing to push for visitors to choose New Zealand and then helping them throughout New Zealand where there is still strong capacity and options,” she said.

    The industry had been pushing for bold change, and a working group had considered what that change was and how they planned to get there, she said.

    Minister for Tourism and Hospitality Louise Upston.

    Tourism Minister Louise Upston.
    Photo: MARIKA KHABAZI / RNZ

    Upston planned to review advice and proposals from officials about the next steps in the roadmap in January.

    “Some of it is potentially quite significant change so I would be looking at probably taking something to Cabinet towards the end of quarter one or the beginning of quarter two,” she said.

    The government was aiming to see international visitor arrivals reach at least 3.89 million by 2026.

    Recent figures showed overseas arrivals hit 3.43 million in the year to September.

    “We’ve got momentum, we’ve made significant investments, we are measuring the impact and I’m confident that we will achieve those visitor growth numbers by the end of next year,” Upston said.

    That investment – which was often funded by the International Visitor Levy – included a $70 million major events and tourism package and more than $26m for Tourism New Zealand to attract more visitors.

    She was confident that [https://www.rnz.co.nz/news/national/557448/how-do-queenstown-residents-feel-about-increasing-tourism-and-its-impact

    concerns from areas like Queenstown], where visitors numbers had already surpassed 2019 levels, were being addressed by mahi underway and planned in the Tourism Growth Roadmap.

    Queenstown

    Queenstown.
    Photo: RNZ / Kymberlee Gomes

    She wanted to make sure every ounce of value was squeezed from investments in the industry as well as having consistent and predictable funding, Upston said.

    Another priority was attracting more New Zealanders into hospitality and tourism by making sure they could see a career pathway and had ongoing training opportunities as a solid workforce would be a “critical part” in the success of tourism growth, Upston said.

    In November, the government announced funding for a new industry-led qualification, Te Haeata, to boost the business events workforce.

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  • Meet our project logistics experts at Breakbulk Middle East 2026

    Meet our project logistics experts at Breakbulk Middle East 2026

    Expertise to move the extraordinary

    We understand that one size cannot fit all. That’s why you need an integrated logistics partner who offers unique solutions that eliminate complexities in your project logistics. Take advantage of our global network of special equipment fleets including breakbulk vessels, barges, road and rail transportation.

    Join us at Breakbulk Middle East to meet our project cargo experts and learn about the processes that go into transporting your special cargo efficiently.

    What are the key advantages of Maersk Project Logistics?

    We offer numerous advantages that make us an invaluable partner for businesses undertaking complex projects. We leverage our network of special equipment fleets, including breakbulk vessels, barges, roads, and rail to move cargo efficiently and safely.



    Adaptability and flexibility

    Maersk Project Logistics’ ability to customise solutions and flexible weekly schedule services, coupled with owned capacity, ensures that even the most unique project needs are precisely fulfilled.



    Advanced digital tools

    Leverage our digital tools for efficient cargo management, providing real time visibility and streamlined transactions.



    Global reach with local expertise

    Combining international experience with local knowledge ensures that Maersk Project Logistics can navigate any logistical challenge.



    Integrated solutions

    Revolutionising special cargo logistics with end to end solutions, including owned assets, customs, Project Engineering, and inland last mile delivery. Access more destinations with one provider.



    Meet our project logistics experts

    Join Rafael Vicens, Regional Head of Maersk Project Logistics, as he delivers insights on Africa Spotlight: Critical Minerals, Cargo Flows, and Gulf Partnerships at Breakbulk Middle East 2026.

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  • How our forecasts of central bank rate decisions fared in 2025 – Financial Times

    1. How our forecasts of central bank rate decisions fared in 2025  Financial Times
    2. Notes from the Desk: Pressing Pause in 2026  ETF Trends
    3. Global Central Banks End Turbulent Year Marked by Tariffs, Geopolitics, and Inflation Risks  AL24 News
    4. World’s Central Banks Slash Rates at Year End, Japan Bucks Trend  Menafn
    5. Rich world’s rate-cut momentum fading away  MSN

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  • Gold price in Pakistan for today, December 29, 2025 – Profit by Pakistan

    1. Gold price in Pakistan for today, December 29, 2025  Profit by Pakistan
    2. Gold scales new peak amid nil imports  Dawn
    3. Gold price drops by Rs5,500 per tola in Pakistan  Business Recorder
    4. Gold price jumps Rs 2,300 per tola in local market  The Nation (Pakistan )
    5. Gold price in Pakistan falls Rs5,500 per tola  Mettis Global

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  • Aqvesme Approved for Anemia in Alpha- or Beta-Thalassemia – Clinical Advisor

    1. Aqvesme Approved for Anemia in Alpha- or Beta-Thalassemia  Clinical Advisor
    2. Agios Pharma stock price target raised to $62 from $48 at H.C. Wainwright  Investing.com
    3. FDA Approves Milestone Oral Therapy for Adults With Thalassemia Anemia  Pharmacy Times
    4. AGIO: Analyst Andrew Berens Raises Agios Pharmaceuticals Price T  GuruFocus
    5. FDA clears Agios’ oral PK activator for thalassaemia-linked anaemia  FirstWord Pharma

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