The conviction on charges of bribery for the chairman of South Korea’s Lotte Group last week has resulted in the chairman resigning from the post of chief executive of its Japan-based holding company. The Lotte Group said in a statement that chief executive Shin Dong-bin’s resignation was accepted by the board of Lotte Holdings after…
After disappointing reports for online sales figures during the Christmas period by Walmart, the stocks of the company saw their largest drop in over three decades. Even though there was an increase of 23 per cent in the online sales in the three months to December compared to the earlier quarter, the figure was less…
A revival plan that will be worth $2.8 billion in fresh investments and planned to be implemented through a period of ten years has bene proposed by General Motors for the turnaround of its loss-making business operations in South Korea. This was reported in Sought Korean media citing information gathered from a government official there.…
Users can now make payments at retail stores with the use of any android run smartphone with NFC support by Google’s new payment app. The app, called Google Pay, can be downloaded free of charge but is only now available in the US and the UK. A number of characteristics of the current Android Pay…
Samsung Display has cut the production of its OLED panels by around 50%. Japanese business daily Nikkei has reported Samsung Electronics Co will slash its output of organic light-emitting diode (OLED) panels in response to Apple Inc’s decision to cut production of iPhone X midst weak demand. Apple Inc is Samsung Electronic’s customer. Samsung Electronic’s…
The Malaysia-based fintech firm’s GOLDX covers all the principles that are the cornerstones in Islamic financial contracts. HelloGold, a Malaysia-based firm disclosed that it has received a sharia-compliant certification for its gold-backed cryptocurrency; it plans on launching its online gold platform in Thailand later this year. GOLDX, its cryptocurrency product which was launched at the…
Sony Corp is the latest tech firm vying for market share in Japan’s highly regulated ride-hailing market and is set to partner with Daiwa Motor Transportation and 4 other domestic Japanese taxi firms for the same. On Tuesday, Japan’s Nikkei newspaper reported, Sony Corp is to become the latest tech firm which is jockeying for…
There was a sharp fall in the share prices of Daimler AG following a new report in a German newspaper about a potential investigation in the United States where allegedly a software has been detected in the diesel cars of its Mercedes-Benz brand which could have been only specifically designed and used in the cars…
Thousands of small satellites are planned to be put to use to provide high-speed internet to the world by Elon Musk’s SpaceX. And that plan is moving a bit closer to becoming a reality this week. On Wednesday, a rocket is slated to be launched by the company from Vandenberg Air Force Base in California.…
New Zealand is due to publish its own assessment of the CPTPP on Wednesday. On Monday, Jacinda Ardern, New Zealand’s Prime Minister stated her country is taking pains to see that the final text of the revived Trans-Pacific trade pact is released on Wednesday since that is when her government will also publish its own…
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