China consumer group seeks answers from Apple about slowing iPhones

The blog Primate Labs, a company that makes an app for measuring the speed of an iPhone’s processor, published data that appeared to show slower performance in the Apple’s iPhone 6s and iPhone 7 models as they aged. (Reuters)
Updated 16 January 2018
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China consumer group seeks answers from Apple about slowing iPhones

SHANGHAI: A Chinese consumer group has asked Apple for information about the slowing of older iPhones after operating system updates, demanding a reply before Friday, state news agency Xinhua reported.
The query from the Shanghai Consumer Council came in response to consumer feedback that old iPhones became sluggish after upgrading the software to iOS 10.2.1, it said.
In a letter to Apple on Monday, the council requested an explanation for the slow-down and information about what Apple planned to do to rectify the problem, Xinhua reported.
The California-based company acknowledged in December that iPhone software can slow down some phones with battery problems and apologized for the issue. It also cut battery replacement costs and said it would change its software to show users whether their phone batteries were working well.
The Shanghai Consumer Council, a non-government organization approved by the Chinese authorities, said it had received 2,615 complaints about Apple products and services in 2017, compared with 964 complaints in 2015.


Moody’s raises GDP growth forecasts for Saudi Arabian economy

Updated 18 October 2018
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Moody’s raises GDP growth forecasts for Saudi Arabian economy

  • The Moody’s report released on Wednesday maintained the Kingdom’s A1 rating
  • he agency expects higher oil production to boost the Saudi economy

LONDON: Moody’s has raised Saudi Arabia’s GDP growth forecast for 2018 to 2.5 percent from 1.3 percent as it maintains a “stable outlook” for the Saudi economy.
The ratings agency also increased its 2019 GDP forecast to 2.7 percent, well above the 1.5 percent previously predicted, the Kingdom’s Ministry of Finance said.
Moody’s numbers exceed the forecasts of the Saudi Arabian government for the 2019 budget announced in September.
The Moody’s report released on Wednesday maintained the Kingdom’s A1 rating.
The agency expects higher oil production to boost the economy, but also said developments in the non-oil sector will contribute to stronger GDP growth in the medium and long-term.
Moody’s said the Saudi government deficit for the 2018 and 2019 will hover between 3.5 percent and 3.6 percent, a far cry from its previous expectations of 5.8 percent and 5.2 percent.
Moody’s commended Saudi Arabia’s reasonable control of expenditure, even in the face of higher oil revenues.
“In addition to the moderate funding requirements, the government is able to access ample sources of liquidity, from both domestic or international capital markets and financial reserves. It is unlikely to face problems in financing the fiscal deficit,” the report said.
Last week, the IMF lifted its projections for economic growth in Saudi Arabia saying the Kingdom’s economy is expected to grow by 2.2 percent in 2018 and 2.4 percent next year, raising previous projections by 0.5 percent.