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IMF forecasts global GDP growth to slow to 2.8% by the end of the decade 04/12/2024

ECB keeps all three key interest rates unchanged 04/12/2024

Hong Kong Is Expected To Approve Its First Spot Bitcoin ETFs In April – Reports 04/14/2024

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Business & Finance

RBS to receive banking license in Germany

Royal Bank of Scotland has applied for a banking license in Germany to maintain access to European markets after the UK exits the European Union, the Financial Times reported. The bank plans to replace its existing branch in Frankfurt with a new division with a license. RBS has already received a...

No Immediate Plans To Sell Stake In Memory Chip Business: Toshiba CEO

Toshiba Memory Corp. is preparing to go public in three years time and even as the company does so, its chief executive told the media that the company has no immediate plans to sell off its 40.2 per cent stake in the memory chip company. This business unit is the second largest manufacturer of...

Altria Seeks New Business Segment With Drop In US Cigarette Demand

Business segments in addition to tobacco are now the focus of the America's preeminent cigarette company Altria for growth. It has been reported that the company is contemplating the acquisition of a huge stake in e-cigarette maker Juul following its huge investment of $1.8 billion in...

Tokopedia’s Latest Funding Round Secured ‘$1.1 Billion’

Alibaba and Softbank invest in Indonesian e-commerce Tokopedia with the growing interest in the said market. Tokopedia is an e-commerce company of Indonesia which has manage to secure “$1.1 billion” during its latest round for funding. At the helm of this initiative was the giant e-commerce of...

FedEx Cuts 2019 Profit Forecast Sending Its Shares Down

The global delivery package company FedEx Corp announced a steeper-than-expected reduction in its profit forecast warning for 2019 which apparently jolted investors resulting in the company losing out nearly 8 per cent of its share value. The reason for the negative forecast, according to the...

Criminal Charges Filed Against Goldman Sachs In Malaysia In 1MDB Scandal

Criminal charges are being framed in Malaysia against the U.S. bank Goldman Sachs in relation to the huge multibillion dollar scam there known popularly as the 1MDB scandal. Malaysia's former prime minister has already been forced out of office because of the scandal in which billions of...

$2 Billion Over 5 Years Will Be Spent By Hiwaei On Cyber-Security

As a measure to allay fears among a section of Western countries about a threat to security from the use of its telecommunications equipment, Chinese tech giant Huawei Technologies would be investing about $2 billion over a period of the next 5 years to set up better security measures in terms of...

Hitachi To Acquire ABB Power Grids Business For $11 Billion

The Swiss engineering giant ABB has announced that it would sell a total of 80.1 per cent stake of its power grids business division to Japan’s Hitachi. The company also announced on Monday that shareholders of the company would be returned the net cash of about $7.6 to 7.8 billion that would be...

Tesla & Mercedes Reduces Prices In China Following Lifting Of Additional Tariffs

Some US automakers are already reducing price of cars in China following the announcement by Chinese authorities of temporarily removing the 25 per cent additional tariffs that has been imposed on cars imported into the country from the US as a retaliatory action to oppose the US trade tariffs on...

Wing Of Alphabet Inc To Fly Its Delivery Drones In Finnish Sky

After an eighteen months long testing phase, Wing gears up to take on the European sky. Alphabet Inc., the parent company of Google, is all set to launch Wing, its “drone delivery business”, for the first time in European skies in Finland. The said service will begin from the coming spring of 2019,...