FIH Mobile, a subsidiary of Foxconn, is buying the feature phone business from Microsoft for $350 million. According to the deal, Microsoft would hand over the rights to use the Nokia brand, feature phone software, services, and other contracts and… Read More ›
Major banks including UBS and BAM are bearish on the near-term while being optimistic in the long run. Diminished U.S. stocks and with wildfires looming threats on Canadian oil supplies, U.S. crude oil prices hit their 7 months high yesterday…. Read More ›
A white elephant in the making, unlikely to attract tenants and possibly never even to be completed, the plan to build a financial district from scratch was viewed by Saudi Arabia’s neighbors as among the glossiest excesses of the kingdom’s… Read More ›
With this deal China is looking for a strategic hold on global food supplies. As per multiple sources familiar with the matter at hand, the U.S. Department of Agriculture is set to join the U.S. government panel that is in… Read More ›
While noting the path to a service-oriented economy took decades for the West, which included periods of recession, Larry Fink, said China needs to bring about a solid fiscal policy. Introducing excess credit into the system is not the way… Read More ›
The glut in the oil pool has resulted in Moody’s re-assigning debt ratings for countries in the Arabian Gulf. Assigning a negative outlook to Oman, Saudi Arabia and Bahrain, Moody’s Investors Service has cut their debt ratings as low oil… Read More ›
A German magazine has reported 93.6 billion euros in costs for the refugee crisis by 2020, citing a draft report from Berlin’s Ministry of Finance. A German magazine has reported that Germany has projected an expense of nearly 93.6 billion… Read More ›
Despite facing criticism from “Out” campaigners, the governor of Britain’s central bank has justified stating the risks of such an outcome. Mark Carney, the governor of the Bank of England has denied that by stating the possible short-run costs of… Read More ›
Hackers are relying on the vulnerabilities in SWIFT’s messaging systems to hide their digital footprints. A second bank has been compromised due to these vulnerabilities. In the wake of Bangladesh’s central bank being hacked due to hackers exploiting vulnerabilities in… Read More ›
In the wake of fluctuating oil prices, Saudi Arabia is trying to diversify and revitalize its economy. The world’s largest exporter of oil Saudi Arabia is in the process of overhauling its economy. The process of partially privatising Aramco, a… Read More ›
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