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Alibaba: the Chinese cyber-economic revolution
The Alibaba service has had unprecendented success and is now gaining in popularity worldwide Chinese e-commerce company Alibaba has been recognised as one of the world’s largest online...
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Struggle continues for Eurozone as Euro suffers
The value of euro depreciated for more than 1% with pound after seven years Reaching more than seven years high, the pound sterling appreciated to hit €1.40 for the first time since December 2007. The...
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Win for Credit Suisse as Prudential boss is swooped on board
Tidjane Thiam has replaced Credit Suisse veteran Brady Dougan Credit Suisse has poached Tidjane Thiam, the head of UK insurer Prudential to lead the underperforming Swiss bank, replacing Credit Suisse...
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China joins the league of world largest arms exporter following USA and Russia
SIPRI report has revealed that China has become the third largest arms exporter in the world. Surpassing the Europe’s leading economies Germany and France, China has become the third largest arms...
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Scandals and controversies result in downfall of Wonga
LONDON – Wonga’s big shift into red consist of 36% fall in lending volumes creating a reduction of customer base to 575000 last year from 1 million a year in 2013. Wonga.com, a British payday loan...
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Controversial Shell’s Arctic Exploration plan will take decades before oil flows
Royal Dutch Shell plc, commonly known as Shell, projects the flow of oil from the Arctic Ocean exploration will take a decade or more due to the scrutiny from US government and other environmentalists....
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German Finance Minister says beware of “financial bubble”
In his Budget speech, German Finance Minister Wolfgang Schaeuble warned against the “financial bubble” and the over-reliance on central banks BERLIN – Germany’s Finance Minister Wolfgang Schaeuble has...
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China headed towards economic doom?
New figures emerging from the Asian powerhouse further concretise signs of slowdown SHANGHAI – Further cementing the fact that the world’s second-largest economy is losing its lustre, growth in...
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Standard & Poor reduced Brazil to ‘junk’ credit rating
S&P has downgraded Brazil to “junk” status as outlook on the new rating remains negative BRASILIA – After Standard & Poor downgraded Brazil to “junk” status, the country lost its...
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Credit Suisse Group planning to sell US private bank?
Reports have revealed that Credit Suisse Group may be headed towards a major shake-up ZÜRICH – Switzerland-based multinational financial services holding company, Credit Suisse Group, aims to sell its...
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MTN Nigeria fined record $5.2 billion by Nigeria’s Communications Commission
Nigeria’s largest telephone operator, MTN Nigeria, has been fined $5.2 billion by authorities for non-compliance ABUJA – MTN Nigeria, a part African cellular telecommunications giant MTN Group, has...
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Philips Lumileds sale might face hiccups from US authorities
The sale of Lumileds might not have gone down so smoothly after all, according to one sentence in the company’s Q3 results AMSTERDAM – Philips has revealed that there might be the possibility of US...
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Nestle: Maggi Noodles will return to India
The world’s largest packaged food company, Nestle, has announced that it will be bringing back Maggi Noodles to India NEW DELHI – Swiss transnational food and beverage company Nestle has announced...
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Toyota overtakes VW as “world’s largest carmaker”
Toyota has overtaken VW by selling the most cars in the first three quarters of this year Japanese vehicle manufacturing giant Toyota has overtaken its German counterpart Volkswagen to claim the title...
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Beijing’s love for Addis Ababa increases every day
After dams, roads and factories, China has now invested in a $475 million urban rail project in Ethiopia ADDIS ABABA – Much to the delight of excited Ethopians, The African country lifted the curtains...
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Starbucks cups leave some seeing red
Apparently Starbucks hates Christmas. The 2015 cup’s simplistic design caused some Christians to boycott Starbucks and protest by telling the baristas that their name is “Merry Christmas.” The Global...
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Greece aims to complete second set of reforms by mid-December
Greece has successfully completed its first set of reforms and confirms that it will complete the second set by the middle of December A draft statement has revealed that Eurozone’s finance ministers...
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Pfizer goes on to create drugs giant; seals deal with Allergan for $160 billion
Pfizer confirms intentions to purchase Allergan, in turn creating the biggest pharmaceutical company in the world American pharmaceutical giant Pfizer has announced that it has agreed to buy...
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The China-Pakistan Economic Corridor and its many controversies
China and Pakistan strengthen partnership with the China-Pakistan Economic Corridor, while India and the West protest On November 12, Pakistan and China have joined hands to inaugurate the $46 billion...
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Hong Kong brokerage giant confirms Chairman missing
Guotai Junan International spokesperson has confirmed that Chairman Yim Fung is missing since November 18 Hong Kong brokerage firm Guotai Junan International has announced that all attempts to contact...
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