China has for the first time granted permission to a credit card company from the United States for setting up its own payments network in the second largest economy of the world. This green light has been granted to American Express. Preliminary approval to handle payments in yuan has been granted to American Express by…
A new study shows that Malaysia is at the center of the world’s global Islamic economy even though the United Arab Emirates (UAE) is fast catching up on it. The economic gap between the two leading countries of the Islamic economic world is closing down according to the study titled “State of the Global Islamic…
Viewers and shoppers in the UK and Ireland apparently are eagerly awaiting the launch of annual Christmas advertising by retail giants John Lewis and Marks & Spencer even though Christmas campaigns have already been launched by a few retailers, including Asda, Lidl and Aldi. The two largest retailers have not disclosed details of their possible…
A drop in the sugar business of a parent company has been offset by the success of a discount store. This is what has happened with Primark – the discount store, and its parent company Associated British Foods. In the past financial year, ABF has registered growth in revenues and profits and has avoided a…
One of the largest gaming companies in the world owned by Tencent Holdings wants to react to the increasing government pressure and criticism on the issue of negative influence of prolonged exposure of children to video games and plans to make use of police data to identify minors and prevent them from spending long hours…
According to the industry research firm Counterpoint, iPhone maker Apple is set to record its first yearly drop in of its iconic smartphones in the Indian market in the last four years. The research firm also predicted that this would be because of a fall in the sale of iPhones in the fourth quarter of…
Based on concerns of a recued competition in the steel manufacturing market in Europe, an in-depth investigation into the proposed formation of a joint venture between Tata Stee of India and Germany’s ThyssenKrupp, has been launched by the European Union earlier in the week. The venture that would be created by the merger of the…
Following the revelation of a an expanded federal accounting probe, coupled with disappointing third quarter results saw the share price of General Electric drop to their lowest in nine years. During the announcement of its third quarter results, the first since the taking over of the new chief executive officer Larry Culp, the company announced…
While a major section of the global auto industry and some of the major tech companies are engaged in a race to develop technologies for autonomous vehicle, US auto maker Ford Motor Co and Chinese tech company Baidu Inc has also jointly entered the race. Both the company on Wednesday announced the launching of two…
Samsung Electronics Co Ltd warned of an imminent end to the two-year boom in its business which was driven by an increase in demand of its memory chips, which resulted in the company reporting record profits for the third quarter. As if to adjust to its perception of lower profits in the near future, the…
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