News

Note: This section contains information in English only.
Mon, 25 Nov 2019 19:32:32 GMT

SoftBank's Oyo sees losses in China, India until 2022

Internal projections of SoftBank's Oyo Hotels and Homes showed the company is unlikely to make profit in China and India until 2022 due to its rapid expansion in various markets, including the US and UK.

Mon, 25 Nov 2019 18:32:29 GMT

Nokia's COO set to leave amid management reshuffle

Nokia, Finland's telecoms gear maker, has made a decision to split Joerg Erlemeier's functions in his Chief Operating Officer position among other leaders in a management reshuffle, a move that made Erlemeier leave the company.

Mon, 25 Nov 2019 16:42:53 GMT

Blackstone to invest in gene therapy venture

Blackstone Group announced that it will invest $400M in cooperation with Ferring, the Swiss drug company, working on a trial gene therapy for bladder cancer.

Mon, 25 Nov 2019 16:01:08 GMT

EBay to sell StubHub for $4.05B

EBay is set to sell StubHub, the ticketing unit, in all-cash $4.05B deal with Viagogo, almost a year after the company was under pressure from investors to separate some of its businesses.

Mon, 25 Nov 2019 14:50:51 GMT

Central bank of China comments on economy

On Monday, the People's Bank of China announced that downwards pressures on the Chinese economy have been increasing.

Mon, 25 Nov 2019 14:50:33 GMT

S&P comments on Chinese bond market

On Monday, S&P credit rating agency revealed that private Chinese firms are getting squeezed out of the country's bond market.

Mon, 25 Nov 2019 12:40:23 GMT

Uber loses London license

The government of the city of London has stripped Uber of its operating license. The company announced that it would appeal the decision.

Mon, 25 Nov 2019 11:40:28 GMT

Apple expands in India

On Monday, the IT Minister of India Ravi Shankar Prasad announced that Apple is expanding its operations in India by creating additional phone component production.

Mon, 25 Nov 2019 10:41:56 GMT

German economy is expected to expand

Data published by IFO institute on Monday revealed that the German economy is expected to grow by 0.2% in the fourth quarter of this year.

Mon, 25 Nov 2019 09:45:42 GMT

Japan's Unizo receives six new buyout bids

Unizo Holdings, the Japanese hotel operator, announced on Sunday about six more buyout bids at price that exceeds the existing $1.6B offer proposed by Blackstone Group.

Mon, 25 Nov 2019 09:02:16 GMT

Novartis to take The Medicines Co. in $9.7B deal

Novartis AG is acquiring The Medicines Co, the US biotechnology company, in a deal worth $9.7B, the Swiss drugmaker announced on Sunday, as the company seeks to expand the portfolio.

Mon, 25 Nov 2019 07:43:44 GMT

LVMH agrees to acquire jeweller Tiffany for $16.2B

LVMH has agreed to acquire the US jeweller Tiffany in a $16.2B deal, Louis Vuitton's owner confirmed this Monday, in the purchase that will boost the luxury good maker's position in jewellery and further expand its presence in America.

Mon, 25 Nov 2019 06:06:28 GMT

US, China close to sign trade deal

According to the state-owned Global Times newspaper, the United States and China are very close to sign phase one trade agreement.

Mon, 25 Nov 2019 05:17:00 GMT

Amazon to open pop-up store

Amazon.com Inc announced on Monday that it would open a pop-up store on Pinduoduo Inc, the Chinese e-commerce platform.

Mon, 25 Nov 2019 04:01:44 GMT

Bloomberg officially enters 2020 presidential race

The former mayor of New York City and media mogul billionaire Michael Bloomberg announced on Sunday that he would run for the US 2020 presidential race.

Mon, 25 Nov 2019 03:02:45 GMT

Al-Kholifey says Saudi Arabia's banking sector is very liquid

On Sunday, the Governor of Saudi Arabia's Central Bank Ahmed al-Kholifey said that the Saudi banking sector has a very high volume of liquidity.

Sun, 24 Nov 2019 21:04:06 GMT

China's FX market turnover reaches $1.92T

According to the State Administration of Foreign Exchange, the turnover of Chinese forex market reached $1.92T in October.

Sun, 24 Nov 2019 20:26:39 GMT

COFCO elects new chairman

On Saturday, Richeng Luan has been appointed as the new chairman of China's agricultural business platform COFCO International.

Sun, 24 Nov 2019 19:10:41 GMT

LVMH ready to acquire Tiffany & Co

According to sources familiar with the matter, the French luxury products producer LVMH is moving closer towards acquisition of the US Tiffany & Co for $16.3B.

Sun, 24 Nov 2019 18:18:42 GMT

France to sell 5G spectrum

Agnes Pannier-Runacher, the Junior Economy Minister of France, stated on Sunday that the government would sell its 5G spectrum for $2.17B.

Sun, 24 Nov 2019 17:12:32 GMT

Javid promises "very detailed costings" of Tory manifesto

On Sunday, Sajid Javid, the British Finance Minister, said that the Conservative Party would deliver a "very detailed costings paper" at the lunch of the Conservative's election manifesto.

Sun, 24 Nov 2019 15:57:57 GMT

Romania holds Presidential election

On Sunday, voters began casting ballots in Romania's Presidential election runoff, as surveys showed that incumbent candidate Klaus Iohannis, is the favorite to beat the former PSD Prime Minister.

Sun, 24 Nov 2019 14:50:47 GMT

Aramco's Nasser met with Kuwait's sovereign wealth fund

Amin Nasser, the Saudi Aramco Chief Executive Officer, met with the representatives of Kuwait's sovereign wealth fund to discuss investment in the IPO.

Sun, 24 Nov 2019 13:56:28 GMT

Guinea Bissau set to vote for new president

Guinea-Bissauans went to the polling stations on Sunday to vote in the country's presidential election after weeks of political turmoil.

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