As a mark of a tone down for its stance on foreign companies doing business in the country, China had recently announced the reduction of the value-added tax (VAT) in the country starting on April 1. This has prompted two foreign car makers – BMW AG and Mercedes-Benz to announce reduction of price for their…
Rise in global pollution resulting increase in the amount of anthropogenic greenhouse gases in the atmosphere in the last 30 years has made that period that warmest for Earth in over 2000 years of history of the Earth according to a joint study by the a group of Chinese and American scientists. The research of…
Facebook, which in recent years has been embroiled in a number of controversies related to data breach, security of private information of users and its platform being used for propagating fake news, has announced that it would be launching a new artificial intelligence tool that would enable the largest social media platform in the world…
UBS, the largest bank of Switzerland announced that it is apportioning an additional amount of nearly $400 million to its already announced legal provisions on Friday. The bank had been slapped with a huge fine last month of 4.5 billion euro ($5.09 billion). UBS has already appealed against the court decision in a higher court…
Days after the fatal crash of Boeing 737 Max jet in Ethiopia and after many governments and airlines across the world grounded or banned the jet, the US administration has grounded Boeing’s 737 Max fleet on Wednesday. Following this, Boeing itself announced pulling down of its entire 737 fleet globally., Two fatal crashes involving the…
Saudi Aramco is trying to find new buyers for its crude oil in China because of increasing competition from Russian and US producers. In this effort the Saudi state owned oil major is also strategizing towards a process of partnering with independent refiners and newcomers into the industry. According to reports quoting industry sources, Saudi…
News Corp, the Australian arm of Rupert Murdoch, has suggested the competition regulator of the country that it is essential to break up Google in order to create a level playing field for media companies that is being over powered by its “overwhelming” market power. In order to make it easier for digital publishers to…
A call for immediate measures for stopping resource extraction to save the world from depletion was given by the United Nations Environment Program (UNEP) on Tuesday. According to the UNEP, the depletion of resources across the world has tripled since the 1970s. Increases in the extraction of materials was identified as the factor that has…
HSBC Holdings Plc is now on a mission of targeting to bring in its fold the richest people residing in the fastest growing region of the world in terms of generation of wealth. According to Tan Siew Meng, Asia Pacific head of global private banking of the London-based bank, a team top cater to and…
Following unconfirmed reports in the media, United States based chip making giant Nvidia confirmed on Monday that it was set to acquire the Israeli chip designer Mellanox Technologies for $6.8 billion. According to reports, this bid by Nvidia was more than an earlier bid made for the company by Intel Inc. The acquisition would help…
