In a development that marks an intensification in the cracking down on Chinese billionaire Jack Ma’s financial technology empire, Chinese regulators are reviewing equity investments held by Ant Group Co Ltd in dozens of companies, said three sources with knowledge… Read More ›
Month: December 2020
Honda to stop selling autos in Russia from 2022
On Wednesday, the Russian subsidiary of Honda Motor Co said it would stop supplying new cars to official dealers in Russia in 2022. The move is part of the company’s efforts to restructure its operations. Honda has clarified that it… Read More ›
AstraZeneca-Oxford COVID-19 vaccine starts rolling out in UK
In a statement British Health Secretary Matt Hancock said, hundreds of thousands of doses of the AstraZeneca-Oxford COVID-19 vaccine will start rolling out in Britain after the COVID-19 vaccine candidate was approved by regulators. “We’ll get going on this,” said… Read More ›
State Department approves plans to sell precision bombs to Saudi Arabia worth $290 billion
In a statement the Pentagon said, the U.S. State Department has approved the potential sale of 3,000 precision guided munitions to Saudi Arabia in a deal valued at up to $290 billion. The incoming Bidden Administration has pledged to halt… Read More ›
FTSE Russell, S&P Dow Jones Indices, MSCI delete more Chinse companies from global benchmarks
In a significant development, global index publisher FTSE Russell stated it will delete more Chinese companies from its global benchmarks following the Trump administration strengthening an executive order barring U.S. investment in Chinese firms which have military backing. On Monday,… Read More ›
Indonesia signs $9.8 billion deal for constructing integrated electric battery factory from upstream to downstream
In a significant development South Korea has signed a memorandum of understanding (MOU) with a unit of South Korean giant LG Group for a battery investment deal valued at $9.8 billion electric vehicle (EV). The deal, signed on December 18,… Read More ›
Trump Administration bolsters executive order barring U.S. investment in Chinese companies
In a significant development, the Trump administration has further bolstered an executive order barring U.S. investors from purchasing securities of Chinese military-controlled companies. There is some disagreement among U.S. agencies on how tough to make the directive. In a statement,… Read More ›
JPMorgan Chase & Co to acquire global loyalty division of cxLoyalty Group Holdings Inc
In a statement JPMorgan Chase & Co said, it would acquire the global loyalty division of cxLoyalty Group Holdings Inc – a third-party credit card loyalty program service provider. JPMorgan did not disclose the financial terms of the acquisition. “People… Read More ›
Cross border traffic main irritant in UK-Spain negotiations: Spanish Foreign Minister Arancha Gonzalez Laya
On Tuesday, in a statement Spanish Foreign Minister Arancha Gonzalez Laya said, the main burr that needs ironing out in negotiations between Britain and Spain is Gibraltar’s post-Brexit status. London and Madrid are negotiating how to police the land border… Read More ›
Oxford-AstraZeneca Covid-19 Vaccine Could Be Approved By UK This Week
The United Kingdom is likely to approve usage of the Covid-19 vaccine developed jointly by AstraZeneca and the University of Oxford in this week. The Medicines and Healthcare products Regulatory Agency of the country will approve the vaccine for use… Read More ›