UK chip designer Imagination, which designs graphics chips for smartphones, is being bought for £550m by a Chinese-backed investment firm. Imagination put itself up for sale in June after Apple, its largest customer, said it would stop using its products. The boss of Imagination, Andrew Heath, said the takeover by China-backed Canyon Bridge was a “very good outcome” […]
Storms complicate Puerto Rico’s debt problems
Puerto Rico’s more than $70bn in debt is casting a shadow over recovery efforts on the Caribbean island, which was badly destroyed by Hurricane Maria. Puerto Rican Governor Ricardo Rosello, who is seeking federal funds, warned of a “massive exodus” without aid. US President Donald Trump wrote on Twitter on Monday night that the island […]
Cyber Attack: Deloitte hit by data breach
Corporate finance giant Deloitte suffered a cyber-attack that compromised confidential data, including the private emails of some of its clients, the company has confirmed. Its system had been accessed via an email platform and “very few” clients had been affected, Deloitte said. The Guardian reported the attack had been discovered in March but could have happened […]
Brent oil price ease back
The Oil Prices has fallen back on Tuesday after earlier hitting a two-year high. Rising demand and geopolitical worries had fueled the increase, along with indications that production cuts by OPEC members are starting to bite. Brent rose about 4% to just short of $60, its highest since July 2015, point, before dropping back to $58.59. […]
St. Kitts and Nevis Signs Visa Waiver Agreement with Russian Federation
St. Kitts Nevis took a significant and historic step forward on 21 September 2017 when Foreign Minister Mark Brantley signed a VISA waiver agreement with the Russian Federation’s Foreign Minister H.E. Serguey Lavrov during the annual UN General Assembly in New York, USA. This VISA waiver agreement now allows citizens of St. Kitts and Nevis and Russian citizens […]
Trump signs new order to widen North Korea sanctions
The US treasury has been authorized to target firms and financial institutions conducting business with North Korea. The president also said China’s Central Bank had instructed other Chinese banks to stop doing business with Pyongyang. It comes less than two weeks after the UN approved new sanctions against the country over its latest nuclear test. […]
Saudi Arabia Builds Sand Cities in a bid to Move beyond Oil
The Kingdom is turning to the desert for new revenue streams by creating sand cities as big as some countries. After relying on oil to fuel its economy for more than half a century, Saudi Arabia is turning to its other abundant natural resource to take it beyond the oil age – desert. The kingdom […]
Uber London loses licence to operate
Uber will not be issued a new private hire licence, Transport for London (TfL) has said. TfL concluded the ride-hailing app firm was not fit and proper to hold a London private hire operator licence. It said it took the decision on the grounds of “public safety and security implications”. Confirming it would appeal against […]
Protocol Amending the Mexico-Belgium Tax Treaty Published
On August 17, 2017, the Protocol amending the Convention for the Avoidance of Double Taxation and the Prevention of Fraud and Fiscal Evasion (“Tax Treaty”) between Belgium and Mexico was published in Mexico’s Official Journal of the Federation (Belgium publication pending). The Tax Treaty became effective in Belgium on August 19, 2017, and in Mexico […]
Facebook to share Russia-linked political adverts with investigators
Facebook founder Mark Zuckerberg says his company will share 3,000 Russia-linked political adverts with US investigators. He also pledged to make political advertising more transparent on his network in future. “We will work with others to create a new standard for transparency for online political ads,” he said in a live address on his Facebook […]