Bigger, pricier iPhone expected at Apple event Wednesday

Most of the buzz is swirling around a rumored iPhone that is supposed to boast a 6.5-inch screen, up from 5.8 inches on the existing iPhone X. (AFP)
Updated 12 September 2018
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Bigger, pricier iPhone expected at Apple event Wednesday

  • Apple is expected to release an iPhone with minor updates to last year’s $1,000 model and another version made of cheaper materials
  • Most of the buzz is swirling around a rumored iPhone that is supposed to boast a 6.5-inch screen, up from 5.8 inches on the existing iPhone X

SAN FRANCISCO: Apple is expected to showcase three new iPhones on Wednesday, including its biggest and most expensive model yet, as the company seeks to widen the product’s appeal amid slowing sales growth.
Most of the buzz is swirling around a rumored iPhone that is supposed to boast a 6.5-inch screen, up from 5.8 inches on the existing iPhone X.
If the speculation pans out, the even-bigger iPhone would represent Apple’s attempt to feed consumers’ appetite for increasingly bigger screens as they rely on smartphones to watch and record video, as well as take photos wherever they are.
Apple also is expected to release an iPhone with minor updates to last year’s $1,000 model and another version made of cheaper materials.
Wednesday’s event is being held at Apple’s Cupertino, California, headquarters.


Lebanon president: negative rumors about the economy harm country

Updated 33 min 3 sec ago
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Lebanon president: negative rumors about the economy harm country

  • Lebanon has been without a government for four months since a national election
  • “The Lebanese pound is not in danger and Lebanon is not on the road to bankruptcy," Aoun said

BEIRUT: Lebanon’s currency is not in danger and rumors about the economy are causing harm, President Michel Aoun said on Wednesday, amid concern that a political deadlock has blocked urgent reforms and left the heavily indebted country vulnerable.
Lebanon has been without a government for four months since a national election. The central bank has issued repeated assurances about the soundness of the Lebanese pound’s peg to the dollar and the size of its foreign currency reserves, in response to speculation over the currency’s future.
“The Lebanese pound is not in danger and Lebanon is not on the road to bankruptcy. The economic situation is difficult but the things being spread as rumors are harming Lebanon,” Aoun said, in comments published by his office.
“We do not deny that there is a crisis,” Aoun said, but added that the country was working to address it.
Lebanon had the world’s third highest debt-to-GDP ratio, at over 150 percent, at the end of 2017. The International Monetary Fund wants to see immediate and substantial fiscal adjustment to improve debt sustainability.
The failure of politicians to form a government needed to undertake the necessary reforms following the parliamentary election in May has added to concern for the economy.
Leaders from across the political spectrum have in recent months said the political stalemate is harming the economy and a government needs to be formed. Parliament Speaker Nabih Berri this month said the country was in “intensive care” and the economic situation was “very dangerous.”
While politicians have stopped short of saying the peg is in danger, some economic analysts abroad have been considering the possibility of a devaluation.
“Lebanon’s ongoing political stalemate has renewed market concerns over the country’s frail balance sheets which could propel the government to devalue the Lebanese Pound ... Under this scenario, the authorities would find it increasingly challenging to service their large foreign currency debts,” Japan’s MUFG Bank said in a report on Wednesday.