Saudi Arabia, the world’s third largest defense spender, aims to cut its defense import bill by 50% by 2030. In an effort aimed at developing Saudi Arabia’s domestic defense industry, Saudi Arabian Military Industries (SAMI) and South Africa’s Paramount Group… Read More ›
The measure has the backing of the Reserve Bank of Australia which has made it clear that the government should initiate action to boost consumer spending. On Thursday, in a significant development, Australia’s conservative government is on the verge of… Read More ›
The achievement by the United States based electric car maker Tesla of being able to deliver record number of electric cars in the second quarter as promised by its Chief Executive Officer Elon Musk resulted in increased confidence of investors… Read More ›
The IPO values Budweiser Asia, AB InBev’s Asia-Pacific business, at 16-18 times its enterprise value (EV) to EBITDA. This will be the biggest IPO to hit the market in 2019. In a significant development, Anheuser-Busch InBev NV stated, it is… Read More ›
U.S. President Donald Trump has threatened to impose additional tariffs on $4 billion EU goods, including on Britain’s Scotch whisky, Italy’s cheese and olives. The Scotch Whisky Association (SWA) has urged U.S. President Donald Trump to end his trade dispute… Read More ›
Italy’s antitrust watchdog has complained that with more companies following FCA’s trail, the Italian state will see severe loss of state revenues. Italy’s national competition watchdog has stated, the decision by Fiat Chrysler Automobiles (FCA) to move its financial and… Read More ›
Chubb joins a growing stream of financial institutions who are scaling back their exposure to coal. In a significant development, insurer Chubb Ltd disclosed, it has decided to cut its exposure to coal-powered plants operators and that it would not… Read More ›
The restructuring plan includes a write down of nearly $3 billion of its intangible assets. In a significant development, Coty Inc announced that it would overhaul its operations and write down nearly $3 billion of its intangible assets. The move… Read More ›
In China, Walmart will be in a tough environment and will be competing with the likes of Alibaba Group Holding Ltd and Tencent Holdings Ltd who have cut deals to combine online and high street shopping. In a significant development,… Read More ›
The development will place Coca-Cola in direct competition with Monster Beverage. In a statement Coca-Cola Co stated, an arbitration tribunal has informed it that it could go ahead with the sale of its energy drink under the terms of the… Read More ›
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