News

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Mon, 08 Apr 2019 02:37:54 GMT

KPMG to overhaul UK business

KPMG announced plans for its British operations' overhaul to create an independent audit company, regardless of decision by the competition regulator to trigger a break-up of the Big Four accounting firms, The Times' report showed.

Mon, 08 Apr 2019 02:33:43 GMT

Carlyle to buy 30% stake in Cepsa

Carlyle Group agreed to buy a 30% stake in Spain's oil and gas firm Cepsa from a sovereign wealth fund of Abu Dhabi in a $3.6B deal with debt, the Financial Times stated.

Sun, 07 Apr 2019 20:26:54 GMT

Dubai Islamic Bank seeks acquiring Noor Bank

United Arab Emirates' Dubai Islamic Bank has entered talks to take over the Dubai-based Noor Bank, according to Bloomberg's report seen on Sunday, in a potential deal that could be valued at $75 billion in assets.

Sun, 07 Apr 2019 20:09:04 GMT

Jet Airways stake sale likely to be delayed

A stake sale in the Indian troubled Jet Airways is likely to be postponed due to the reason that lenders need to receive more clarity from India's central bank, according to the Business Standard's statement published on Sunday.

Sun, 07 Apr 2019 19:20:25 GMT

China's FX reserves to continue growing

According to report published by the China's State Administration of Foreign Exchange, the country's foreign exchange reserves increased by $8.6B or 0.3%, reaching $3.0988T.

Sun, 07 Apr 2019 19:16:53 GMT

China's Li starts European tour

Starting from Monday, the Chinese Prime Minister Li Keqiang will pay an official visit to several European countries to strengthen ties and reaffirm commitment to common strategic goals.

Sun, 07 Apr 2019 17:58:14 GMT

Malaysian exports decline in February

Malaysia's exports decreased 5.3% year-over-year to $16.3B in the month of February, hitting the weakest rate since August 2016.

Sun, 07 Apr 2019 17:57:50 GMT

Elbit to acquire US night vision company

Elbit Systems, the largest non-state defence company of Israel, stated that its US subsidiary signed a deal with Harris Corp. to buy its night vision business for $350M.

Sun, 07 Apr 2019 17:02:12 GMT

Israel Electric, Leviathan deal over interim natural gas supply

Israel Electric and the Leviathan agreed over the short-term deal to supply natural gas, which is estimated to reduce costs and save up to $175M.

Sun, 07 Apr 2019 17:01:29 GMT

Chinese gold reserves increase in March

China increased the country's gold reserves for the fourth month in succession in March to amount 60.62M ounces, the People's Bank of China reported.

Sun, 07 Apr 2019 16:31:56 GMT

Turkish AK Party seeks all Istanbul votes' recount

AK Party of the President Tayyip Erdogan is set to ask Turkey's electoral board for a recount of all Istanbul's votes cast in elections, an official stated.

Sun, 07 Apr 2019 16:30:54 GMT

China's forex reserves at seven-month high in March

China's foreign currency reserves grew for a fifth month in succession in March, as increasing optimism over the prospects for the US-China trade deal offset concerns over weakening economic growth.

Sun, 07 Apr 2019 15:37:59 GMT

Hyundai denies tie-up with Tencent

South Korea's automaker Hyundai Motor denied the report stating that the company signed a deal with China's tech firm Tencent to develop software for self-driving vehicles.

Sun, 07 Apr 2019 15:35:32 GMT

LG Chem sets up JV with VinFast

South Korea's LG Chem stated that it created a JV with Vietnam's VinFast to produce Li-ion batteries for the Vietnamese vehicle maker's electric scooters and electric cars.

Sun, 07 Apr 2019 14:33:10 GMT

Scholz urges Britain to prevent no-deal Brexit

Olaf Scholz, the German Finance Minister, called on the UK government and opposition Labour Party to find an agreement for the country to leave the European Union.

Sun, 07 Apr 2019 14:29:19 GMT

China to rise cuts of bank reserve ratio

China is likely to step up the policy of cuts to required reserve ratios of banks to encourage funding for small and medium-sized enterprises, which play a significant role in economic growth.

Sun, 07 Apr 2019 13:37:35 GMT

Infosys opens new office in Switzerland

Global software leader Infosys stated it opened an office in Switzerland to help service the company's clients in the industry of energy and aerospace.

Sun, 07 Apr 2019 13:34:20 GMT

Mercedes-Benz sells more the 27K cars in March

Mercedes-Benz USA revealed sales of 27,004 Mercedes-Benz cars in March, while Vans unit reported monthly sales of 3,533 models, making grand total of more than 30K vehicles for the month.

Sun, 07 Apr 2019 12:37:03 GMT

Petrobras to sell pipeline unit to Engie for $8.6 billion

A consortium led by French Engie SA submitted the offer for Brazilian Petroleo Brasileiro's major gas pipeline unit, presenting an $8.6B bid for 90% of the pipeline.

Sun, 07 Apr 2019 12:31:47 GMT

Lyft to invest $50M for transportation initiatives

California-based transportation network company Lyft stated that it is set to invest $50M or 1% of its profits into locally-driven transportation services and other initiatives through the company's City Works programme.

Sun, 07 Apr 2019 11:37:07 GMT

Ethiopian inflation grows 11.2% yearly in March

Ethiopian consumer prices grew 11.2% in the one-year period to March, following 10.9% year-over-year inflation in February, the CSA stated.

Sun, 07 Apr 2019 11:30:53 GMT

Shell to invest $15B in Nigeria

The Shell Petroleum Development Company stated that it is set to spend about $15B across 24 oil and gas projects in Nigeria within the next five years.

Sun, 07 Apr 2019 09:55:57 GMT

Samsung Electronics faces 60% decline in Q1 profit

Samsung Electronics saw a sharp fall in its operating profit and sales in the Q1 of 2019, memory chip prices dropped and display panel demand weakened, the firm stated.

Sun, 07 Apr 2019 09:53:22 GMT

China's CFI declines last month

The average Chinese Containerised Freight Index declined 6.3% month-on-month to 830.81 in March amid the lack of demand, the Shanghai Shipping Exchange stated.

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