Apple’s weakening dominance in profits is partially due to the popularity of its cheaper models, as well as the stronger performance of rivals. “This is the first time the cumulative profits of Chinese brands crossed US$1.5 billion in a single quarter,” said Counterpoint associate director Tarun Patha. “Usually all the profits have been shared by just two brands – Samsung and Apple – however, Chinese brands have made inroads here.” Source South China Morning Post
Egypt is working on a new model for future oil and natural gas production contracts in undeveloped areas to spur exploration and help become self-sufficient in energy, oil ministry and company officials said. Source: Bloomberg
“Turkey will not allow unilateral activities [in the Eastern Mediterranean]. We need to protect the rights of Turkish Cypriots with actual steps,” Çavuşoğlu said at a symposium entitled “Law and Politics in the Eastern Mediterranean” at Ankara University. Source: Hurriyet Daily News
The US has said it intends to negotiate three separate trade agreements with Japan, the UK and the EU. It could take several months before the negotiations begin, it said. The move is part of US President Donald Trump’s efforts to reshape trade policies to support his “America First” agenda. Source: BBC
