Danske Bank is winding up operation of its Estonian branch, whose employees are suspected of large-scale money laundering. “In accordance with the approval of the Estonian Financial Supervision Authority, Danske Bank has virtually ceased banking in Estonia. Now all attention is paid to ensure the...

PayPal Holdings Inc, the American payment system, will become the first foreign company of its kind to gain access to the PRC payment services market through the purchase of the local company Gopay Information Technology Co. The People’s Bank of China (PBC, the country's central bank) has allowed...

There has been a rise of about 40 per cent in the last one year in the amount of money that had been stolen by criminals through bank transfer scams in the United Kingdom and currently the amount being stolen every month is more than £1m, claimed official data published by the UK.  ...

Since the downturn in the global oil market three years ago, Saudi Arabia has been trying to reduce the dependence of its economy on revenues from oil. As a part of that vision, the kingdom is not set to open up some of its closed doors to international tourists.    The kingdom...

The company intends to suspend production in the UK due to the exit of the Kingdom from the EU. Jaguar Land Rover decided to suspend production in the UK because of Brexit. Four factories of the company will halt the operation in the first week of November in order to mitigate the consequences of a...

The US Federal Trade Commission filed a lawsuit against Match Group, which owns a number of dating services, including Tinder. The regulator is accusing the company of using fake accounts to encourage hundreds of thousands of users to purchase a paid subscription. The United States Federal Trade...

After the debacle faced by the American office renting form WeWork just before the launch of its initial public offering (IPO) because of a substantial fall in valuation compared to what the Japanese investment conglomerate SoftBank had made when it had invested not long ago in the company, the...

The first indigeneously developed artificial intelligence (AI) chip was introduced by Alibaba Group. The chip comprises of a   neural processing unit and has been named Hanguang 800. The company claimed that this new chip will dramatically enhance the speed and energy spending in the...

Charges against the embattled former chairman and CEO of Japanese auto giant Nissan Carlos Ghosn and former director Gregory Kelly brought in by the United States Securities and Exchange Commission were settled. The charges against the two former executives were related to false financial...