On Wednesday, Indonesia’s Finance Minister Sri Mulyani Indrawati submitted a proposal to the country’s parliament proposing to levy tariffs on sugar and artificially sugar-sweetened drinks; she has also proposed levying taxes on vehicles that emit carbon dioxide. She has also asked parliament to reconsider her proposal to impose an excise on plastic bags in order…
Uber Technologies Inc will be closing its office in downtown Los Angeles in order to focus on its bigger locations. This office used to employ staff for customer support. The development will impact 80 jobs. Uber’s spokesman confirmed the closure in a statement. Customer support jobs will be shifted Uber’s office in Manila, reported the…
It was just months ago that employees of Amazon.com had publicly put pressure on founder and largest shareholder of the company Jeff Bezos, as well as the company to do more to g=fight climate change. Bezos, the richest man in the world, now has announced that he would personally contribute a part of his wealth…
HSBC Holdings is set to undertake a massive restructuring of its business. The company announced that it would reduce its assets by about $100 billion while also reduce the size of its investment bank. It also announced plans for revamping of its business in the United States and Europe. This business restructuring is also expected…
On Tuesday, Qualcomm Inc, the world’s biggest supplier of mobile phone chips, introduced a new set of semiconductors designed to connect mobile phones to 5G networks that operate differently around the world. In a statement, the San Diego, California-based company said, its X60 modem chip, along with a new antenna chip, will be the first…
According to two sources familiar with the matter at hand, the Trump administration is mulling options, which includes changing U.S. regulations to allow it to block shipments of chips to Huawei Technologies from companies such as Taiwan’s TSMC, the world’s largest contract chipmaker. These are among the many proposal the U.S. Administration is looking at…
On Tuesday, the head of a European business group in China warned that the world could face a shortage of antibiotics if the pharmaceutical industry’s supply problems posed by the outbreak of China’s coronavirus cannot soon be resolved. Joerg Wuttke, President of the EU Chamber of Commerce told a roundtable in Beijing that the synchronization…
On Tuesday, Japan’s cabinet approved a bill to support companies to develop secure 5G mobile networks and drone technologies midst a growing alarm from Tokyo policymakers over Chinese influence over the said technologies. The bill aims to provide companies, who want to develop the technologies, funds which will attract low-interest rate from government-affiliated financial institutions…
The face mask has become the most visible symbol of the deadly coronavirus outbreak both in China and elsewhere. And according to reports, it is now increasingly becoming a prized possession across Asia as its demand by concerned citizens of the region to protect themselves from the coronavirus infection exceeds supply. There is virtually a…
Canadian company Bombardier Inc’s train business will be purchased by the French transport infrastructure company Alstom SA and the tow companies have reached a preliminary deal to that effect. The deal will be worth more than $7 billion on an enterprise value basis. This was first reported on Bloomberg on January 21 and later by…
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