The Chinese state media reported that an 18 years prison statement sentence has bene delivered on the founder of the Chinese insurance company Anbang, owner of New York City’s Waldorf Hotel, by a court in Shanghai on Thursday. The sentence was delivered after he pleaded guilty of illegally raising billions of dollars from investors. 10.5…
Following the decision of the U.S. government to ban U.S companies from selling vital components to the Chinese company ZTE, it has stopped its primary operations in the country, the company announced on Wednesday. The U.S. government had taken the step last month. This has put the company at the center of the ongoing trade…
Pakistan’s top and South Asia’s largest e-commerce platform Daraz Group has been taken over by China’s e-commerce giant Alibaba Group. The Chinese company acquired all of the share capital of the Pakistani company, said a statement from the company on Tuesday. Daraz is the owner and operator of the popular Taobao and Tmall platforms and…
Control of leading Indian e-retailer Flipkart will be taken over by Walmart for $16 billion against a stake of 77%. Walmart has been attempting to create a dent into the Indian market and now its has the chance to do so via Flipkart. Wholesale outlets of the Arkansas-based retailer have been prevented to be opened…
The most cited source on Wikipedia is decade ago academic paper that was written by three Australians and is related to global climate zones. It has bene cited and referenced over 2.8m times. But it was not until recently that the wider impact of their paper was known at all to the three authors of…
UK’s data protection watchdog has ordered handing over of all information that Cambridge Analytica has about the US citizen David Carroll. A demand to know the information that the analytic firm has on the U.S. citizen was put forward by Prof Carroll in a legal action which is the source of the data demand. Cambridge…
Egypt has been identified as the world’s third fastest growing economy – trailing only India and Uganda, by a recent Harvard report. The annual economic growth of Egypt is expected to reach 6.63 percent by 2026 according to the Global Growth Projections report unveiled by the Center for International Development (CID) at Harvard University. Uganda…
Following the rejection of a new pay deal by the French staff at Air France-KLM, its chief Jean-Marc Janaillac has announced his resignation form the strike-hit airline. “I accept the consequences of this vote and will tender my resignation to the boards of Air France and Air France-KLM in coming days,” he said. A new…
Warnings about the “nightmare” related to the changes in the new accounting rules have been issued earlier by Warren Buffett. And now it’s beginning. In the first quarter a $1.14 billion loss at Buffett’s Berkshire Hathaway Inc. was reported by the Omaha, Nebraska-based company mainly because of the rules the mandate reporting of unrealized gains…
The owner of British Airways has been snubbed by a new upstart airline – and not once but twice. There had been two occasions that IAG, the parent company of British Airways, had presented offers to buy out the newly set up Norwegian Air Shuttle. However, it had been refused the deal on both the…
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