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July, 29, 2016

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Business
Mainland China legalizes ridesharing services
Mainland China on Thursday announced new rules governing ridesharing services, making clear for the first time that they are now legal in a giant market where U.S.-based Uber is at loggerheads with local rival Didi Chuxing.
 > China
 
Facebook on Wednesday reported a huge quarterly profit jump fueled by strong growth in revenues and its global user base, powering shares higher for the top social network.
 
Fed keeps rates steady but increase may be coming
The Federal Reserve left key interest rates untouched Wednesday but acknowledged improved economic performance, suggesting a rate increase may still be on the horizon in 2016.
 
Turkey sees over 40% drop in visitors amid security crisis
The number of foreigners visiting Turkey dropped over 40 percent in June to its lowest level this year as the impact of attacks and previous tensions with Russia caused havoc for the vital tourism industry, statistics showed Thursday.
 
Despite a flurry of frustration on social media, the record-breaking video game that has become a global phenomenon has yet to make its way to Taiwan, and the reason may just be one guy and his patent lawsuit.
 
British bank Lloyds will axe 3,000 more jobs by 2017, it said Thursday, as it braces for the Bank of England's widely expected post-Brexit interest rate cut next week.
 
European stocks and the U.S. dollar slid Thursday after the Federal Reserve held interest rates and indicated it would take a slow, measured approach to any hikes.
 
It's all smiles for Samsung
A girl experiences Samsung Electronics' Gear VR at its showroom in Seoul, July 7. Samsung Electronics Co. reported Thursday forecast-beating earnings results that were the best in two years as consumers snapped up its Galaxy smartphones, in a sign the company is getting its mojo back while rivals fail to deliver new smartphones.
 
BAE Systems, the British maker of military equipment, posted a modest increase in first-half profits Thursday on the back of rebounding demand from governments worldwide.
 
Singapore multibillion-U.S.-dollar sovereign wealth fund GIC on Thursday reported a substantial dip in returns and warned of "difficult" global investment conditions over the next decade.
 
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