Market sentiment could be boosted by the move by Chinese authorities to bring down the amount of funds banks need to hold in reserve, and it could also be beneficial for stocks in some sector, said a report from the investment bank UBS. Reduction of the reserve requirement ratio (RRR) by 50 basis points for…
Israel has struck a partnership with the United States based pharma company NRx Pharmaceuticals for completion of trials and commercialization of the Covid-19 vaccine that has been developed in Israel called BriLife. A memorandum of understanding was signed between NRx and the Israel Institute for Biological Research on Monday, and the two parties said that…
In a statement database software company Couchbase Inc said, it plans on raising $161 million through an initial public offering, which could see the company valued at more than $900 million. As per its regulatory filing, Couchbase, whose investors include GPI Capital, North Bridge Venture Partners and Accel, plans on selling 7 million shares in…
The Spanish government wants to initiate the production of electric vehicles and batteries with an investment of 4.3 billion euros ($5.1 billion) as a part of the government’s major national spending programme. The Spanish government said on Monday that majority of the funding for the program will be from the European Union recovery funds. The…
After completing its first successful fully crewed test flight for space travel on Sunday, British billionaire Richard Branson founded Virgin Galactic Holdings Inc filed to sell up to $500 million in common stock on Modnay. Sunday’s flight had Branson as one of the travellers into space. The 8 per cent gains made by the company…
U.S. social media giant Twitter Inc has finally appointed a resident grievance officer for its unit in India days after designating a chief compliance officer to meet the country’s new IT rules. According to its website, Twitter has appointed Vinay Prakash as its new grievance officer along with his contact details; it has also listed…
Charges that the Volkswagen Group and BMW had colluded with Daimler to cause delay in the development of technology that could have reduced levels of emission from their vehicles was upheld by the European Commission and has consequently slapped a fine of $1 billion on Volkswagen Group and BMW. The three German carmakers, along with…
The biggest restaurant chain of the world kin terms of the number of stores it operates – Subway, is completely revamping its menu while also significantly increasing its investments in marketing with the aim of attracting back customers with its new sandwiches. The menu changes include a combination of upgraded ingredients and a slew of…
37 states in the United States is set to sue Google over discriminatory policies it implements on its Android app store, Google Play. The US based tech giant used “monopolistic leverage” to rake in huge profits from purchases that are made within its own store, claimed the lawsuit. It also alleged that its competitors had…
A new hiring has been made by the e-commerce giant Amazon.com for running of the physical stores of the company. The United States based company said on Friday that it has roped in a veteran of British supermarket chain Tesco – Tony Hoggett, for the position. Currently, Hoggett is the chief strategy and innovation director…
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