As per a report from Saudi-owned al-Arabiya TV, the Kingdom’s Khafji oil field, which is jointly operated with Kuwait, will produce 320,000 oil barrels per day (bpd) by the end of 2020. The announcement by was made by Prince Abdulaziz… Read More ›
Entrepreneurship
U.S. sanctions on Nord Stream 2 gas pipeline project will only delay project
As per a report from Russian daily Kommersant, Russian President Vladimir Putin stated, Russia has a “pipe-laying vessel” to complete the construction of the Nord Stream 2 gas pipeline which will supply gas to Germany, According to the report, Putin… Read More ›
China’s import of U.S. soya surges in November
On Wednesday, according to available customs data, soybean imports from the United States by China has surged in November in comparison to the previous year. China has purchased 2.56 million tonnes of U.S. soybeans, up from zero a year ago… Read More ›
Australia’s Cotton On starts investigating usage of forced prison labor by China’s Zhejiang Yunguang Printing
On Tuesday, Australian clothing retailer Cotton On Group stated, it is investigating a Chinese supplier over fears that it uses forced prison labor. The development comes in the wake of British supermarket operator Tesco PLC suspending ties with the same… Read More ›
U.S. SEC investigating BMW on its sales practices
On Monday, German automaker BMW AG stated it is being probed by the U.S. Securities and Exchange Commission. The development comes in the wake of a report of a probe related to the company’s sales practices. “We can confirm that… Read More ›
California insurance regulators proposes reforms on group discounts in auto insurance
On Monday, the California Department of Insurance proposed reform measures which includes ways for insurers to include more people from low-income families. Currently insurers offer group discounts based on education, occupation, and other factors, to the detriment of low-income families…. Read More ›
Tesla gets $1.4 billion loan from Chinese banks for its Shanghai factory
According to three sources familiar with the matter at hand, Tesla Inc has entered into $1.4 billion (10 billion yuan) loan agreement with a group of Chinese banks, for its Shanghai car plant. Part of this amount will be used… Read More ›
Spirit Airlines Inc commits to buying 100 Airbus A320neo jets worth $11-$12 billion
On Monday, U.S. budget carrier Spirit Airlines Inc stated it aims to purchase 100 Airbus A320neo-family jets which are scheduled to be delivered to it through 2027; the agreement comes with options to purchase up to 50 additional aircraft. Spirit’s… Read More ›
Emissions Scandal Sees Record Fine Imposed On VW In Australia
A record fine was imposed by Australia’s consumer watchdog over the German auto giant Volkswagen (VW) as part of the deal by the company to settle the scandal of the carmaker over its emission scandal which ripped the company through… Read More ›
British supermarket giant Tesco suspends Chinese Christmas cards supplier over forced labor report
Following a press report of a Chinese supplier of its Chinese supplier of Christmas cards employing foreign prisoners in forced labor camps, British supermarket giant Tesco suspended its contract with the Chinese supplier. “We abhor the use of prison labor… Read More ›
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