MyCC has imposed a daily penalty of 15,000 ringgit starting from today for as long as Grab fails “to take remedial actions as directed by the commission in addressing the competition concerns”. On Thursday, Malaysia’s competition regulator proposed to levy a fine of $20.53 million (86 million ringgit) on ride-hailing firm Grab for violating the…
Aiming to ride the crest of the e-commerce wave, Deutsche Post DHL intends to invest heavily into areas such as warehouse automation and analytics. Aiming to ride the e-commerce boom, Deutsche Post DHL set a new target of $5.77 billion (5.3 billion euros) for its operating profit saying it would invest heavily in areas such…
There has been a drop of 16 per cent year on year in the third quarter in the global mergers and acquisitions (M&A) activities. According to Refinitiv data this is the lowest level of such activity since 2016 because of increasing uncertainty in geopolitical and economic circumstances which had reduced the intention of companies to…
The stock market debut for the Chinese smartphone maker that has become a dominant player in the African smartphone market has been a major hit. There was a 96 per cent rise in the stock prices of Transsion, which is a leader in Africa’s phone market, soon after its shares were listed publicly at the…
Plans of integrating China’s WeChat Pay and Alipay into its virtual banking platform is being drawn up by Barclays Bank of Kenya,said Andrew Mwithiga, head of virtual banking at the Barclays Bank of Kenya. There is need for the development of seamless channels of payments so that it is possible for users to make payments…
McDonald’s has ultimately decided to enter into the plant-based burger segment. By the end of the current month, PLT, or the plant, lettuce and tomato burger will be set up for 12 weeks in 28 restaurants in south-western Ontario, United States, by the company, McDonald’s has said. The burger chain would be using plant based…
The e-cigarette company Juul is facing a stiff challenge in terms of threats of much greater federal regulations over the industry as there is a growing number of vaping-related deaths in the United States which has forced the ouster of the company’s CEO. Following the exit of the Juul CEO Kevin Burns, he was replaced…
Marine “heatwaves” are being caused and rise of sea levels is being accelerated threatening the coastal fishing based economies because of the alarming pace at which the surface temperature of the oceans of the world is rising due to global warming, warned a fresh report published by the United Nations. The report said that heat…
Following a “a federal product exclusion” from the United States government for some of the components and equipment of its next generation of Mac Pro desktop computers, US tech giant Apple Inc has announced that this computer would be manufactured in the US – at a plant Austin, Texas state of the country. Despite the…
The business strategy of the sports apparel company Nike of selling its products directly to consumers is now befitting the company significantly. The footwear and apparel firm recorded a jump of 28 per cent in earnings year on year at $0.86 per share for the three months ending in August. This growth was accounted for…
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