There was a 20 per cent fall in the sales in the first two weeks of March, according to the owner of KFC and Pizza Hut, as a wave of new Covid-19 outbreaks emerge from more p[laces across China. Yum China warned that “the situation has drastically deteriorated,” citing regional lockdowns as a means of containing the outbreak. More…
According to the World Bank, a number of developing economies are facing wheat supply for the near term as a result of their reliance on Ukrainian wheat exports, which have been hampered by Russia’s invasion of the country. Gambia, Lebanon, Moldova, Djibouti, Libya, Tunisia, and Pakistan, according to the World Bank’s latest Trade Watch report, are the…
On Wednesday, China signalled its support for Chinese companies, following days of fears that the United States will delist them, sending stock prices in New York and Hong Kong down. Chinese and American regulators are working on a strategy to cooperate on Chinese equities listed in the United States, according to state media, citing a…
After a “strong start” to 2022, Italian luxury fashion brand Prada maintained its growth targets for the medium term , while the luxury firm also acknowledged that the situation in Ukraine would make any projections questionable. Following the European Union and many other nations imposing tough economic sanctions on Russia in reaction to Moscow’s invasion of Ukraine, Prada…
Ford announced plans for seven new models for its electric vehicles that it will launch in Europe on Monday, as well as a battery assembly plant in Germany and a nickel cell manufacturing joint venture in Turkey, as part of a big EV push by it targeting the continent. “Our march toward an all-electric future is an…
Chinese ride hailing company Didi’s stock dropped 44 per cent on Friday, the most in a single day since the Chinese ride-hailing business went public in the United States in June. The stock is currently trading at 87 per cent of its IPO price, putting its two largest owners, SoftBank and Uber, at risk of…
After parent firm Meta Platforms began enabling users in some countries to urge violence against Russia’s president and military, Russia’s technology regulatory body limited access to Instagram on Friday. Because of a temporary adjustment in its hate speech policy to allow threats on Instagram and Facebook in the context of Russia’s invasion of Ukraine, Russia…
India’s market regulator has authorised state-owned Life Insurance Corp’s (LIC) $8 billion initial public offering, according to reports quoting sources with firsthand knowledge of the subject. The permission comes after rumours that the initial share sale would be postponed until the next financial year due to market volatility exacerbated by the Ukraine situation. find out…
Sports equipment maker Adidas has managed to secure a sponsorship contract with the Italian national soccer team for the outfit of the European champions starting next year as the company replaced local competitor Puma as for the contract, Adidas said on Wednesday. According to reports quoting sources with knowledge of the matter, the new sponsorship…
CoinZoom, a cryptocurrency exchange based in Utah, has put a stop on new account applications from Russia owing to the country’s escalating war in Ukraine, according to the company’s chief executive officer. While CoinZoom is a relatively unknown cryptocurrency exchange, it is one of the first to temporarily suspend new company operations in Russia. So…
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