According to local media sources, Apple CEO Tim Cook praised China for its quick innovation and its long relationships with the American iPhone maker in his first public statements on Saturday while on a visit there. Cook is in Beijing for the China Development Forum, a government-sponsored gathering that has resumed in full force since…
PhonePe, an Indian digital payments company, announced on Friday that Walmart Inc., its major investor, had contributed $200 million to its $12 billion pre-money valuation. One of the most valuable startups in India and the most valuable payments company, PhonePe, said the investment is a part of its ongoing $1 billion round of fundraising. At…
Russian President Vladimir Putin urged Russia’s billionaires to prioritize nationalism over personal gain and to make investments domestically to support the country’s economy in the face of Western sanctions. Putin spoke directly to Russia’s business elite for the first time since the day he sent his troops into Ukraine on February 24 of last year, telling…
According to the Taliban government in Afghanistan, some former foreign military bases will become business-friendly economic zones. Since the Taliban regained control of the nation in August 2021, Afghanistan has experienced a worsening economic and humanitarian crisis. The nation had been occupied by foreign military forces for 20 years. Mullah Abdul Ghani Baradar, the temporary…
On Thursday, Standard Chartered reported a 28% increase in annual pretax profit as global interest rate hikes boosted its lending revenue. The company also announced a new $1 billion share buyback program. StanChart’s performance, like that of its international competitors, benefited from ruthless central bank interest rate increases intended to fight inflation. These increases allowed…
As consumers become more sensitive to persistently high inflation, Kraft Heinz announced on Wednesday that it would halt further price increases for its quick-fix meals and condiments. Due to increased promotions and higher prices for commodities like dairy, soybeans, oils, and packaging materials, as well as lower sales, the multinational packaged food company also predicted…
Air India announced a record-breaking order for 470 planes from Airbus and Boeing on Tuesday, accelerating the rebirth of a national symbol under new owners Tata Group as Europe and the United States praised deepening economic and political ties with New Delhi. The preliminary agreements include 220 Boeing planes and 250 Airbus planes, breaking previous…
As luxury brands bet on a strong rebound in Chinese demand following the relaxation of COVID-19 lockdowns, the top fashion brand of LVMH, Louis Vuitton, is anticipated to raise prices in China by as much as 20%. The biggest luxury brand in the world, Louis Vuitton, raised prices in a series of other top brands…
Moody’s cut its outlook for four Adani Group companies on Friday, citing a “significant and rapid decline” in the entities’ market values, according to a notice from the ratings agency. It downgraded Adani Green Energy, Adani Transmission Step-One, Adani Electricity Mumbai, and Adani Green Energy Restricted Group – an entity that includes Adani Green Energy,…
In the latest downgrade brought on by its split from Kanye West, sportswear manufacturer Adidas warned it could plunge to a loss this year for the first time in three decades, sending its shares plunging as much as 12.6%. The company warned on Thursday that inventory of the rapper and fashion designer’s Yeezy line, which…
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