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 ›
In a development that underscores the revival of the economy, sales at Birkin handbag maker Hermes during the second quarter more than doubled from the previous year, especially in Asia and the US markets, with shoppers flocking its stores. The luxury… Read More ›
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 ›
Following an easing of coronavirus travel restrictions along with positive cash flow during the second quarter of this month saw Air France-KLM seeing the first signs of recovery as the airline group narrows down its losses. “Obviously the first quarter was… Read More ›
On Thursday, South Korea’s LG Energy Solution and Hyundai Motor Group said, they plan on setting up a joint venture (JV) in Indonesia which will produce batteries for electric vehicles (EV) and plan on investing $1.1 billion each, with both… Read More ›
In the first half of this year, although car production in Britain has risen by nearly a third from last year’s slump, volumes are however down on the five-year average with the coronavirus-induced COVID-19 pandemic continuing to cause staffing and… Read More ›
According to a source familiar with the matter at hand, SoftBank is selling around 45 million shares of its holdings in Uber Technologies Inc. With the news reaching the market, Uber’s shares tread downwards by 4.6% to $44 in extended… Read More ›
On Wednesday, in a statement Adecco Group said, it has agreed to acquire AKKA Technologies for $2.4 billion (2 billion euros) and merge it with its own Modis tech brand. The acquisition’s synergy stems from the fact that AKKA’s its… Read More ›
Riding on the back with a boost in domestic spending, which has bounced back to close to pre-pandemic levels, and with international travel on the road to recovery with increased vaccinations across the globe, Visa Inc announced its quarterly profits which… Read More ›
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 ›
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