Author Archives

• Riza Aziz, producer of “The Wolf of Wall Street” charged with 1MDB money laundering charges

  By admin1 on July 5, 2019 • ( 0 )

  

  Malaysia has charged, Riza Aziz, stepson of former prime minister Najib Razak, with 5 counts of money laundering. On Friday, Malaysia charged Riza Aziz, the co-founder of Hollywood production studio Red Granite Pictures that produced the Oscar-nominated film “The Wolf… Read More ›

• U.S. exports its first ever rice to China

  By admin1 on July 4, 2019 • ( 0 )

  

  Sun Valley Rice exported two containers of around 40 tons to a private Chinese importer. In a significant development, USA Rice, a trade group that promotes the sales of U.S. grains reported, a private importer in China has purchased U.S…. Read More ›

• Saudi Arabia’s SAMI inks defense deal with South Africa’s Paramount Group

  By admin1 on July 4, 2019 • ( 0 )

  

  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 ›

• Australia set to pass $110 billion tax cut law

  By admin1 on July 4, 2019 • ( 0 )

  

  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 ›

• AB InBev to list its Asia-Pacific business in Hong Kong in $9.8 billion IPO

  By admin1 on July 3, 2019 • ( 0 )

  

  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 ›

• Britain’s whiskey exports to the U.S. threatened by Trump’s additional trade tariffs

  By admin1 on July 3, 2019 • ( 0 )

  

  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 ›

• Relocation of FCA from Italy to Netherlands will significantly impact state revenues

  By admin1 on July 3, 2019 • ( 0 )

  

  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 ›

• Insurer Chubb Ltd cuts exposure to coal-related companies

  By admin1 on July 2, 2019 • ( 0 )

  

  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 ›

• Coty Inc to restructure and reorganize itself following challenges in integration of P&G Beauty

  By admin1 on July 2, 2019 • ( 0 )

  

  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 ›

• Walmart to sink in $1.2 billion in China over the next 10 years

  By admin1 on July 2, 2019 • ( 0 )

  

  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 ›