The euro zone economy put off a Covid-19 pandemic induced recession in the second quarter as it grew faster than expected with the easing of restrictions and curbs to stop the spreading of infections. However the inflation shot past… Read More ›
Economy & Finance
Allianz’s becomes first wholly foreign owned insurance asset management company in China
On Friday, in a statement Allianz said, its local Chinese asset management business has received regulatory approval, marking the first wholly foreign-owned insurance asset management company in the country. Foreign financial institutions are eager to expand their onshore footprint in… Read More ›
Samoa’s Prime Minister Fiame Naomi Mataafa scraos China funded port project
In a significant development, Samoa’s new Prime Minister Fiame Naomi Mataafa said, she will not go ahead with a China-backed port project, indicating that she would only back investments which have clear benefits for her country. She noted that Chinese… Read More ›
Europe Inc Emerge From Pandemic Blues With Strong Results
A generally buoyant mood among European companies staging a turnaround from the coronavirus pandemic was reflected in the better than expected financial earnings as reported on Thursday by carmaker Volkswagen, plane maker Airbus and energy major Royal Dutch Shell. The… Read More ›
Chip Shortage Will Affect iPhone Production, Says Apple, Forecasts Slow Growth
Production of iPhones is likely to be affected by the global chip shortage, said Apple Inc on Thursday, while saying that sale of its Macs and iPads have been hit by the shortage. The company also forecast slower revenue growth… Read More ›
Following Record Quarterly Profit, Microsoft Forecasts Steady Cloud Revenue Growth
A boom in demand for its cloud services more than adequately offset a decline in sale of its PCs because of the global chip shortage helped Microsoft Corp to post its most profitable quarter on Tuesday as it comfortably beat… Read More ›
US could end up in a war in case of a major cyberattack: U.S. President Joe Biden
In a significant development U.S. President Joe Biden warned that Washington could end in a “real shooting war” with a “major power” in the event of a significant cyberattack on the United States. The warning comes in the wake of… Read More ›
Record Car Deliveries Propels Tesla’s Profits For Second Quarter
Even in the face of a global shortage of semiconductor chips for the auto industry and a delivery delays because of congestion at ports hitting its production, a surge in profits for the latest completed quarter was reported by the… Read More ›
Cryptocurrencies Surge After Amazon Put Out Bitcoin Job Advertisement
Following the revelation of that the e-retailer Amazon.com about it hiring an expert in the field of cryptocurrencies, the value of some cryptocurrencies surged. The company put out an advertisement for a “digital currency and blockchain product lead” to look… Read More ›
Najib Mikati set to become Lebanon’s Prime Minister
On Monday, Lebanon’s former premier Najib Mikati, a wealthy businessman, is poised to be the country’s designated Prime Minister after winning the support of most major parties to form a new government. The development comes at a time when Beirut… Read More ›
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