EXCLUSIVE US electronics firm struck deal to transport and hire Uyghur workers
QINZHOU, China, Oct 7 (Reuters) – U.S. remote-control maker Universal Electronics Inc (UEIC.O) told Reuters it struck a deal with authorities in Xinjiang to transport hundreds of Uyghur workers to its plant in the southern Chinese city of Qinzhou, the first confirmed instance of an American company participating in a transfer program described by some rights groups […]
Goldman shrewdly grabs McKinsey cast-off
Few people can claim to have worked at both Goldman Sachs and McKinsey. Kevin Sneader joined the investment bank just six months after leaving the CEO of a management consulting firm. Installing someone who agreed to a $573 million opioid settlement and dealt with a slew of other issues may seem unusual for a bank […]
The growing popularity of flavorings will drive more deals!
Investors are following their instincts. Azelis, a company owned by EQT that manufactures personal care fragrances and food flavorings, rose 13% on its market debut in Brussels on Friday. First, at the moment of the ranking, the company, which also manufactures chemicals for home appliances and also glues and sealants, was valued at more than […]
Bitcoin tries to recover as the Evergrande-led selloff subsides!
On Tuesday, cryptocurrency prices recovered from one-and-a-half-month lows as a massive selloff overnight triggered by fears of a potential loan default by property developer China Evergrande (3333. HK) eased slightly, but investors braced for more volatility. A cryptocurrency, crypto-currency, or crypto is binary data intended to act as a medium of exchange, with individual coin […]
The platform ‘Invest in Dubai’ has won the award for ‘Best Global Digital Transformation Initiative for Investors 2021’!
According to the World Bank’s Ease of Doing Business Report, Dubai has been the largest business city in the UAE for over 15 years, with a population of 3.4 million people, 16.73 million visitors, an area of 4,114 km2, and an unemployment rate of 0.5 %. With the goal of making Dubai the happiest city, […]
Central bank digital currencies can slash cross border payment time – BIS
HONG KONG, Sept 28 (Reuters) – Central bank digital currencies (CBDCs) can slash the time needed for cross border payments to seconds from days and cut costs, the Bank of International Settlements (BIS) said, citing a pilot scheme to test the digital forms of fiat currencies. The trial showed cross-border transactions could be made in […]
German consumer morale brightens heading into October – GfK
BERLIN, Sept 28 (Reuters) – The mood among German consumers brightened unexpectedly heading into October to reach its highest level in a year and a half, a survey showed on Tuesday, in a sign that households continue to support the recovery in Europe’s largest economy. The GfK institute said its consumer sentiment index, based on […]
Yen sinks, Aussie climbs as Evergrande contagion fears recede
TOKYO, Sept 27 (Reuters) – The safe-haven yen sank to its lowest in nearly three months on Monday, while the risk-sensitive Australian dollar continued to recover from an almost one-month low, as fears of widespread contagion from China Evergrande Group (3333. HK) receded. The yen also fell as higher U.S. yields attracted Japanese investor money while rising […]
Deutsche Boerse says relocation of euro clearing from London inevitable
LONDON, Sept 27 (Reuters) – Euro derivatives clearing was shifting from London to Frankfurt, showing how ending a heavy reliance on Britain after Brexit is feasible, a senior Deutsche Boerse official said on Monday. The European Union is due to decide by year-end on how to shift clearing in euro-denominated swaps to Frankfurt from the […]
Erdogan says Turkey plans to buy more Russian defense systems
WASHINGTON, Sept 26 (Reuters) – President Tayyip Erdogan said Turkey still intended to buy a second batch of S-400 missile defense systems from Russia, a move that could deepen a rift with NATO ally Washington and trigger new U.S. sanctions. Washington says the S-400s pose a threat to its F-35 fighter jets and to NATO’s […]
