News

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Sun, 23 Aug 2020 08:20:04 GMT

Coronavirus cases soar in South Korea

On Sunday, the South Korean officials reported a record-high number of new COVID-19 cases, sterner distancing rules might be implemented to prevent further outbreaks.

Sun, 23 Aug 2020 07:03:45 GMT

China to support Hong Kong as financial hub

The China Banking Regulatory Commission assured to continue supporting Hong Kong as a financial hub after the US-China tensions over the autonomy of Hong Kong have sparked.

Sun, 23 Aug 2020 06:34:43 GMT

Indonesia gets Sinovac's COVID-19 vaccine

The Chinese biopharmaceutical company Sinovac Biotech Ltd will deliver 50M doses of the coronavirus vaccine concentrate to Indonesia where the vaccine will be produced further locally.

Sun, 23 Aug 2020 05:05:06 GMT

China plans new rules for real estate funding

The People's Bank of China and the Housing Ministry are set to form financing and capital management rules for major real estate firms, the Central Bank stated.

Sun, 23 Aug 2020 04:27:26 GMT

Porsche to investigate engine manipulation

Volkswagen's unit Porsche AG started an internal investigation towards the suspected manipulation of its petrol engines, BamS reported.

Sun, 23 Aug 2020 03:37:58 GMT

Delta to resume services in 2021

Delta Air Lines revealed its plans to resume providing services on 50 flights internationally in 2021 that were postponed amid the pandemic.

Sat, 22 Aug 2020 20:56:19 GMT

Energy firms shut 13% of oil production in US

Oil producers closed 13% of offshore crude oil production in the US-regulated Gulf of Mexico, as tropical storms were expected to cross the region next week.

Sat, 22 Aug 2020 19:49:38 GMT

Railsbank to buy Wirecard's UK unit

Railsbank announced its intention to acquire the UK operations of Germany's payments processor Wirecard.

Sat, 22 Aug 2020 18:47:40 GMT

NPCI sets up unit to take RuPay, UPI global

The MPCI launched an international subsidiary to sell the technology behind its Unified Payments Interface and RuPay network to other countries.

Sat, 22 Aug 2020 18:28:07 GMT

China approves CCB, Temasek and BlackRock JV

China approved a wealth management JV between BlackRock, Temasek Holdings and CCB, as the country gradually opens its financial sector to international companies.

Sat, 22 Aug 2020 17:02:03 GMT

XPeng seeks to raise $1.1B in IPO

The Chinese electric car manufacturer XPeng Motors seeks to raise more than $1B in the upcoming US IPO as the investor interest toward electric vehicle stocks is rising.

Sat, 22 Aug 2020 15:53:27 GMT

Goldman Sachs considering $2B venture fund

The US investment bank is considering the possibility to raise a venture fund of $2B next year aimed at investments in growth companies and startups.

Sat, 22 Aug 2020 15:26:20 GMT

STA Travel out of business

The UK travel agency specializing in youth tourism has ceased trading after being hit by the hardships caused by the COVID-19 pandemic. 

Sat, 22 Aug 2020 13:50:40 GMT

Germany to increase bond offering

After seeing a record-high demand for the 30-year bonds on Wednesday, Germany's Treasury will increase the offering and sell $11M of notes next week.

Sat, 22 Aug 2020 13:30:34 GMT

Turkey's automotive production drops

As stated by Turkey's Automotive Industry Association on Saturday,  the production of motor vehicles declined 27% from the beginning of 2020 until July, leading to a plunge in exports. 

Sat, 22 Aug 2020 12:25:13 GMT

More than 50% of Spanish firms reopen

According to the information released by the government of Spain on Saturday, more than 50% of the businesses that were closed during the peak of the pandemic have now reopened.

Sat, 22 Aug 2020 11:33:35 GMT

France postpones recovery programme

On Saturday, the French government declared that the details of the $118B coronavirus recovery plan will be unveiled in the first week of September rather than next Tuesday.

Sat, 22 Aug 2020 09:59:58 GMT

Wells Fargo continues job cuts

Wells Fargo & Co resumed layoffs in the beginning of August as a part of the cost-cutting initiative, the company's spokeswoman stated on Friday.

Sat, 22 Aug 2020 09:36:47 GMT

TikTok to battle Trump's order in court

According to sources familiar with the matter, TikTok is preparing a claim against the US President Donald Trump's executive order prohibiting transactions with the app and its parent company ByteDance.

Sat, 22 Aug 2020 08:38:27 GMT

SEC to remove some personal information

The US Securities and Exchange Commission (SEC) decided on Friday to delete some personal data from its trading database amid pressure from the brokerage industry.

Sat, 22 Aug 2020 07:37:17 GMT

PBOC calls unlicensed firms a threat

The People's Bank of China stated on Saturday that asset management firms opearting without license represented notable threat to the country's financial stability.

Sat, 22 Aug 2020 06:32:50 GMT

Turkey finds gas in Black Sea

The Turkish President Tayyip Erdogan announced on Friday discovery of a 11.3T cubic feet gas field in Black Sea.

Sat, 22 Aug 2020 05:39:39 GMT

Delta Air Lines to resume flights

Joe Esposito, the Senior Vice President at Delta Air Lines, stated on Saturday that the company was ready to resume 50 international flights next year.

Sat, 22 Aug 2020 04:27:26 GMT

US, EU deal on lower tariffs

The European Union and the United States announced a mini-deal valued at nearly $200M to slash import tariffs over some products, including US lobsters.

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