In a statement, the executive body of the European Union said, the United Kingdom is liable to pay $56.2 billion (47.5 billion euros) to the bloc as part of its post-Brexit financial settlement. The amount, forming part of the EU’s… Read More ›
Economy & Finance
China’s state owned corporates contributed record defaults during Q2
China’s corporate bond defaults have hit a record high in 2021, underscoring growing tightening of credit and increased reluctance by regional governments to bail out troubled state-owned firms. During the first half of this year, bond defaults by Chinese companies… Read More ›
Euro Zone To Have Higher Growth Than Previously Forecast, Says EU
The growth in euro zone economy will be faster for both this year and next than was previously estimated, said the European Commission on Wednesday even though there are growing concerns that there could be fresh restrictions because of the… Read More ›
Transatlantic Routes Could Re-Open In Weeks, Says IATA Airlines Head
There was cautious optimism among the travel industry about a surge in demand in the industry in the second half of the year, said the head of global airline body International Air Transport Association Director General (IATA) Willie Walsh. Walsh… Read More ›
French banking giant BPCE diversifies revenue streams, increases focus on ESG in profit push
On Thursday, France’s BPCE, which is in the process of delisting its Natixis investment banking arm, announced plans to boost its revenues by 2024 by partly increasing its focus on sustainable investing. It expects the move to generate additional revenues… Read More ›
FTSE Russell to remove Chinese stock from its global indexes
Following U.S. President Joe Biden updating an executive order banning non-compliant Chinese companies from US stock exchanges, global index publisher FTSE Russell said it will remove a further 20 Chinese companies from its indexes. Many of these companies have alleged… Read More ›
Didi Warns Of Hit To Its Revenues Due To App Removal In China
Following an order from Chinese regulators, Didi Chuxing, China’s biggest ride-hailing company removed its app from its app stores and later issued a warning that this move will have an impact on the revenues of the company. The app was… Read More ›
US investors blindsided by inadequate disclosures by Chinese ride hailing firm’s US IPO
U.S. investors were shocked to hear an announcement by Chinese regulators of an investigation into Chinese ride-hailing firm Didi, which just two days ago made its US debut with a $4.4 billion IPO on the New York stock exchange. Although… Read More ›
All major economies agree to minimum corporate tax of 15%
Following two days of negotiations, most of the countries negotiating a global overhaul of cross-border taxes have backed plans for new rules which will see companies being taxed at a minimum of 15%. According to Organisation for Economic Cooperation and… Read More ›
South Korea’s exports extends double digit growth, trade surplus at $4.44 billion
Exports from South Korea have grown consistently across 4 quarters, posting a double digit growth in June, propelled by a strong economic recovery in major markets globally and continued strong demand for memory chips and automobiles. In June, South Korean… Read More ›
